Thu October 13, 2016

Part 2: Concentrate management resources in SHOPLIST and actively pursue M&A; acquire fashion curation media

CROOZ, Inc. (headquarters: Minato-ku, Tokyo; CEO: Koji Obuchi) hereby announces that the Board of Directors, at a meeting held on October 13, 2016, formulated a policy for “revising the business portfolio to persist as a long-lasting company, making SHOPLIST the brand that represents fast fashion e-commerce,” and made three decisions based on this policy. The second decision is concentrating management resources in and actively pursuing activities for business expansion such as M&A. As part of this initiative, the Company will acquire all shares of Candle inc. (headquarters: Shibuya-ku, Tokyo; CEO: Yasuyuki Kin; hereinafter “Candle”) for 1.25 billion yen and make it a subsidiary. Candle operates fashion curation media such as MARBLE, which boasts over 15 million monthly unique visitors.

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