Bridge Consulting Group Inc.

Due to intensifying competition for talent in the consulting industry, there is a risk that the recruitment and development of excellent in-house consultants may not proceed as planned. If personnel leave for external opportunities, this may lead to a decline in competitiveness, constraints on business expansion, and a decline in service levels, potentially affecting the financial position and business results. As countermeasures, the Company is promoting diversification of recruitment methods to expand contact points with candidates, and is advancing knowledge sharing and equalization of development opportunities through training.

If the increase in the number of registered members of "Kaikeishi.job" does not proceed as planned, and appropriate partner certified public accountants cannot be assigned to orders received, there is a risk of a decline in competitiveness, constraints on business expansion, and a decline in service levels. A shortage of partner certified public accountants, who form the foundation of the pro-sharing business, is a direct constraint on business growth. As a countermeasure, the Company is expanding the scope of activities for partner certified public accountants by expanding services and support content, and is working to improve the recognition and value of "Kaikeishi.job".

The Company is subject to a wide range of legal regulations, including the Labor Standards Act, the Subcontract Act, the Act on Improving Transparency and Fairness in Trading between Freelancers and Business Operators, the Act on the Protection of Personal Information, the Certified Public Accountants Act, and the Employment Security Act. If operational deficiencies result in violations of legal obligations or if new regulatory tightening occurs, this could disrupt overall major business activities. In particular, if the license for the fee-charging employment placement business is revoked or a suspension order is issued, it would become a significant risk making it difficult to continue the recruitment service. The Company keeps abreast of changes in legal regulations through regular communication with external attorneys, certified social insurance labor consultants, and tax accountants, and shares this information internally through the Risk Management and Compliance Committee.

In providing pro-sharing services, the Company holds confidential client information and personal information, including that of partner certified public accountants. If an information leak occurs due to an unforeseen incident, this could have a significant impact on social credibility and could affect the financial position and business results, including response costs. The Company implements multi-layered measures, including training for officers and employees, obtaining and operating Privacy Mark certification, limiting access rights for partner certified public accountants, and incorporating confidentiality clauses into outsourcing contracts.

The pro-sharing business has relatively low barriers to entry, as it does not require licensing or large-scale capital investment, resulting in numerous competitors ranging from major operators to individual business owners, with competition expected to intensify further. If competition with other companies intensifies, this may affect the Group's business results and financial position. As a differentiation strategy, the Company has established a system in which qualified professionals such as certified public accountants and in-house consultants work together as a team to provide practical support, and has developed an internal system for sharing accumulated know-how.

If IPO-preparing companies and listed companies, which are the Company's main clients, restrain business investment and IT investment due to tax system or legal reforms, this may affect the Group's financial position and business results. While the Company does not anticipate a uniform investment restraint across all industries, the risk remains if there is a bias toward specific industries or services. As a countermeasure, the Company is diversifying its client portfolio by providing services to companies of various industries and sizes.

If officers or employees engage in conduct that violates compliance standards, this may affect social credibility, financial position, and business results. The Company implements multifaceted preventive measures, including conducting training to foster compliance awareness, building an open workplace culture, establishing an external whistleblowing hotline for partner certified public accountants, and conducting individual surveys.

The Company has adopted a stock option system for incentive purposes, and as of the filing date of this document, the number of potential shares has reached 153,000 shares (equivalent to 7.07% of the total number of issued shares of 2,165,300 shares). If new share subscription rights are issued and exercised in the future, the value of shares held by existing shareholders may be diluted. The likelihood of occurrence is assessed as high, within a few years, and this is a risk that requires continuous monitoring.

For the fiscal year ended September 2025, the Company has prioritized growth investment for business expansion and has not paid dividends, and the possibility and timing of future dividend payments remain undecided at this time. As the policy is to prioritize the accumulation of retained earnings and the allocation of funds to growth and expansion strategies, this is a risk factor for investors expecting dividend income. Although the Company has indicated a policy of considering dividends based on business performance trends, a specific timing has not been disclosed.

Representative Director Ryoichi Miyazaki and his asset management company, GOOD ONE PARTNERS LLC, are major shareholders holding 42.65% of the total number of issued shares. If these shares are sold in the future for any reason, this may affect the market price and circulation status of the Company's shares. While the Company currently maintains a policy of being a stable shareholder with consideration for the interests of minority shareholders, the concentrated shareholding structure is also a point of attention from a governance perspective.