Earlyworks and AMBITION Announce Capital and Business Alliance

(Head office: Taito-ku, Tokyo; CEO: Sei Kobayashi; hereinafter "the Company") announces that it has entered into a business alliance agreement, including capital participation, with AMBITION Corporation (Mothers-listed; Securities code: 3300; Head office: Shibuya-ku, Tokyo; President: Tsuyoshi Shimizu; hereinafter "AMBITION"). (Securities Code: 3300, Head Office: Shibuya-ku, Tokyo; President: Tsuyoshi Shimizu; hereafter, "AMBITION").

Background.

Although the real estate industry is undergoing digital transformation through the use of technology, "analog management of big data" and "complexity of leasing and sales contracts" remain major issues for the majority of businesses.

In addition, the passage and enactment of the Digital Reform Bill on May 12, 2021* has made it possible to digitize contracts and important item descriptions. In the real estate industry, contracts and important documents will be added to the existing big data, and there is a need for "new and improved user experiences" that will arise from the promotion of "more secure management methods" and "smart contract payment methods". We believe that this trend will further accelerate.　The establishment of a new platform utilizing our blockchain technology is expected to solve these issues and improve the security and traceability of management and utilization.

Source: House of Councillors proceedings, 204th Diet session (May 12, 2021)

Future Prospects.

AMBITION aims to further evolve the labor-intensive real estate industry with its management vision of becoming a leading company in the real estate industry in both real and digital aspects by aggressively promoting DX business in the "residential" domain, and is actively investing in real estate DX using real estate big data. The Company is actively investing in real estate DX, which utilizes real estate big data.

Our company has realized the development of a blockchain that is able to solve the problems of both speed and security, as well as finicality, which has been a major issue, by using our own technology while incorporating some centralized ideas, and each transaction is firmly fixed.

Through this capital and business alliance with our company, we will consider the development of a real estate transaction platform that utilizes blockchain technology. We will announce the details of the product when they are determined.

About Blockchain

The blockchain market is expanding rapidly from 17.1 billion yen in 2019 to 123.5 billion yen in 2022, and the total potential market including related markets is said to be over 60 trillion yen. By combining these two markets, we will contribute to further market expansion by facilitating operations and improving the user experience. We will continue to develop and provide a variety of solution services to solve industry issues.

＜ About the next-generation blockchain Grid Ledger System

The Grid Ledger System is a hybrid blockchain system that combines the traditionally used centralized technology of databases with the new concept of distributed technology of blockchain. It is a "next-generation blockchain" that combines security and stress-free processing speed, both of which were considered impossible under existing blockchain technology. AMBITION's proprietary technology that accelerates evolution and scales up business.

About AMBITION.

AMBITION is a comprehensive real estate company that provides one-stop services including development, planning, purchasing, brokerage, sales, and insurance, centered on its rental management business, which has won "No. 1 in Tokyo for Designer Condominium Management" and "No. 1 in Trust of Sublease Owners "*. In addition, the company is actively investing in real estate DX (Digital Transformation) utilizing real estate big data and providing technology services such as real estate RPA incorporating AI, IoT smart home, digital payment, and AI chat, an automated customer service system, and has been selected as a "DX Certified Business" by the Ministry of Economy, Trade and Industry. The company has been selected as a "DX Certified Business" by the Ministry of Economy, Trade and Industry.

• Japan Marketing Research Organization survey: Brand Image Survey for the fiscal year ending March 31, 2021

In addition to our one-stop real estate business, we will continue to promote DX to digitize the analog real estate industry, aiming for further evolution of the real estate industry.

Representative: Tsuyoshi Shimizu, President and Representative Director Date of establishment: September 14, 2007 Capital: 379 million yen *As of May 31, 2021 Location: 2-34-17 Jingumae, Shibuya-ku, Tokyo Business description: Property management business, Invest business, rental brokerage business, real estate DX business, small-amount short-term insurance business, overseas systems business

• URL: https://www.am-bition.jp/

About Us

We have developed the "Grid Ledger System," a uniquely designed next-generation blockchain system that combines the characteristics of blockchain, such as "tamper resistance," "fault tolerance," "traffic load balancing," and "data operation through multi-cloud, etc.," with the characteristics of conventional databases, such as "processing By combining the characteristics of blockchain, such as "processing speed," "establishment of finality," and "ease of system construction and processing," with those of conventional databases, we provide technology as data infrastructure to support cutting-edge technologies such as AI, IoT, and 5G. Recently, we have been working on joint development with NEC Communication Systems, Ltd. and a business alliance with Hakuhodo DY Media Partners Inc. to promote the technological development of information technology and IT infrastructure.

Representative: CEO: Sei Kobayashi Date of establishment: May 1, 2018 Capital: 649.15 million yen (including capital reserve) Location: MR Building 3F, 5-7-11 Ueno, Taito-ku, Tokyo Business: Blockchain-based system solution planning, proposal, design, and development

• The information in this material is current as of the date of publication. Please note that specifications and service contents are subject to change without notice.