Item 4 — Purpose of Transaction
The information set forth in Items 3, 5 and 6 is hereby incorporated by reference into this Item 4. The Reporting Person acquired the Shares as an investment and to seek business opportunities with the Issuer and its subsidiaries and affiliates. Consistent with such purposes, and pursuant to the share subscription and investor rights agreement between the Reporting Person and the Issuer, dated May 12, 2026 (the "Share Subscription Agreement")and the agreement between the Reporting Person and Monex Group, Inc., the controlling shareholder of the Issuer ("Monex"), dated May 12, 2026 (the "Acknowledgement Agreement"), each further described below, subject to the limitations, rules and requirements under applicable law, limitations under the articles of incorporation of the Issuer, as amended, as well as any restrictions under the transaction documents described in Item 6, including the aforementioned agreements, the Reporting Person may engage in communications with, without limitation, management of the Issuer, one or more members of the board of directors of the Issuer, other shareholders of the Issuer and other relevant parties, and may make suggestions, concerning the business, assets, capitalization, financial condition, operations, governance, management, prospects, strategy, strategic transactions, financing strategies and alternatives, and future plans of the Issuer, and such other matters as the Reporting Person may deem relevant to its investment in the Issuer, which communications and suggestions may include proposing or considering one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D. Pursuant to the Share Subscription Agreement and the Acknowledgement Agreement, the Reporting Person expects to nominate a person to be elected in or around September 2026 to serve as a member of the board of directors of the Issuer. The foregoing descriptions of the Share Subscription Agreement and the Acknowledgement Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the respective agreements, which are filed hereto as Exhibits 1 and 3 and are incorporated by reference herein. In 2025, the Reporting Person established a joint venture with Coincheck, Inc., a subsidiary of the Issuer organized under the laws of Japan, and au Financial Holdings Corporation, a subsidiary of the Reporting Person organized under the laws of Japan. As a further strategic step forward, the Reporting Person intends to collaborate with Coincheck, Inc., through a business alliance, on initiatives aimed at expanding the digital asset market in Japan, including through mutual customer referral programs and related revenue sharing and referral fees. Depending on various factors (including, without limitation, the Issuer's financial position and strategic direction, actions taken by the board of directors of the Issuer, market conditions and general economic and industry conditions), and subject to certain restrictions and limitations included in the transaction documents described in Item 6, the Reporting Person may take such actions with respect to its investment in the Issuer as the Reporting Person deems appropriate, including, without limitation, purchasing additional ordinary shares or other financial instruments of or related to the Issuer, selling some or all of its beneficial holdings to a third party, or transferring some or all of its beneficial holdings to a subsidiary or affiliate, and/or otherwise changing its intention with respect to any and all matters referred to in this Item 4. Furthermore, the Reporting Person may, from time to time, propose modifications or additions to the business dealings with the Issuer or its subsidiaries and affiliates. Except as set forth herein, the Reporting Person does not have plans or proposals at this time that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Person may, at any time and from time to time, review or reconsider its position and/or change its purpose and/or formulate plans or proposals with respect thereto. The information set forth in this Item 4 is subject to change or update from time to time, and there can be no assurances that the Reporting Person will or will not exercise or take, or cause to be exercised or taken, any of the arrangements or actions described above or actions similar thereto.