Announcement of Position and Policies on Lowering Investment Units

1. Position on Lowering Investment Units
SHIFT recognizes that lowering investment units is an effective measure that expands the investor base, improves the liquidity of stocks, and revitalizes the stock market.

2. Policy on Lowering Investment Units
SHIFT believes that one of its responsibilities as a public company is to increase the liquidity of its stock and encourage the participation of investors of all attributes in the stock market. To this end, while maximizing corporate value by pursuing long-term business growth, SHIFT continues to conduct careful deliberations while comprehensively considering future stock market trends, its stock price, trading volume, number of shareholders, shareholder composition, and its cost-effectiveness.

Please note that this disclosure is based on Article 409 (Disclosure on Lowering of Investment Units) of the Securities Listing Regulations stipulated by the Tokyo Stock Exchange, since the investment unit of our stock as of August 31, 2024 was ¥0.5 million or more.

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Contact
Motoya Kobayashi
Director
ir_info@shiftinc.jp