ONE CAREER Inc.

The Career Data Platform Business is heavily dependent on specific services derived from "ONE CAREER," a job-hunting support/new graduate recruitment service, and thus carries a concentration risk in its revenue base. If differentiation from competitors becomes difficult due to intensifying competition, this may affect business operations, operating results, and financial condition. As a countermeasure, the Company is promoting the development of derivative services such as "ONE CAREER Tenshoku" and "ONE CAREER for Engineers."

Numerous operators, including major corporations, have entered the Career Data Platform business domain, and the competitive environment is intense. The Group seeks to differentiate itself through recruitment DX leveraging the quality and quantity of its career data; however, if differentiation from competitors becomes insufficient, this may affect operating results and financial condition.

Revenue increases significantly in the second and fourth quarters, when internship and main recruitment activities are concentrated, while there is a structural seasonal fluctuation making revenue growth difficult in the first and third quarters. In the fiscal year under review, net sales were ¥1,498,355 thousand in the first quarter, ¥2,514,115 thousand in the second quarter, ¥1,577,863 thousand in the third quarter, and ¥1,986,496 thousand in the fourth quarter, resulting in a divergence of up to approximately 1.7 times between quarters, requiring caution when evaluating performance on a full-year basis.

The Group holds a large volume of personal information of job seekers and members, and there is a risk of information leakage, tampering, or unauthorized use due to unauthorized access by malicious third parties or inappropriate internal handling. If such an incident occurs, it may have a significant impact on operating results and financial condition due to claims for damages, loss of credibility, and increased response costs. The Company addresses this risk through the maintenance and operation of its Privacy Mark (obtained March 2020) and ISMS certification (obtained March 2025).

With the rapid proliferation of AI technology, including generative AI, risks such as the generation of misinformation, copyright infringement, and personal information leakage have become apparent, and improper use could damage the Group's credibility. There is also a risk that changes in search engine algorithms could significantly affect user acquisition. The Company has established "AI Service Usage Guidelines" to promote appropriate use, but delays in responding to technological changes could lead to a decline in competitiveness.

"ONE CAREER" and "ONE CAREER Tenshoku" are regulated as recruitment information provision businesses and paid employment placement businesses under the Employment Security Act, with the paid employment placement business license valid until August 31, 2030. If new laws and regulations are enacted or amended, or if the interpretation of existing laws changes, requiring changes to the business structure or operations, or if the license is revoked or a business suspension order is issued, this may affect operating results and financial condition. The Company addresses this through strengthening its compliance framework and conducting internal training.

Securing, developing, and retaining excellent engineers and personnel to keep pace with the rapid technological innovation in the internet industry is an important management challenge. If recruitment does not proceed as expected, if trained personnel resign, or if there are difficulties in responding to change, competitiveness in the industry may decline, potentially affecting operating results and financial condition. The Company aims to improve retention rates by securing sufficient recruitment budgets, conducting training, and implementing internal communication measures.

There is a risk that unreliable posts or inappropriate reviews may be posted on "ONE CAREER" and "ONE CAREER Tenshoku," which could lead to the provision of misinformation to job seekers, legal liability claims, and damage to the site's image. The Company strives to maintain site integrity through full review of posted reviews, refinement of terms of use, and establishment of a user support system; however, it is difficult to fully identify inappropriate conduct amid rapid user growth, and there are also concerns about increasing response costs.

In M&A and capital/business alliances aimed at expanding the business foundation, if the expected profitability or synergy effects are not achieved, or if unforeseen liabilities arise, this may affect operating results and financial condition. In addition to internal analysis of profitability and synergy effects, the Company works to reduce risk through consultation with external tax, financial, and legal experts, but uncertainty in the integration process remains.

Representative Director and President Naoyuki Miyashita and his asset management company hold 56.1% of the total number of issued shares; if his shareholding decreases significantly, this may affect the stock market price and the exercise of voting rights. In addition, there is a risk of share value dilution due to the use of restricted stock and stock option systems; as of the end of the fiscal year under review, the number of potential shares from stock acquisition rights amounted to 256,590 shares (1.4% of the total issued shares of 18,351,510 shares). A resolution to issue new paid stock options was also passed on February 24, 2026, and attention should be paid to future dilution.