Plan for Compliance with the Continued Listing Criteria for the New Market Segment

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

	November 12, 2021
Company name:	SPRIX, Ltd.
Name of representative:	Hiroyuki Tsuneishi,
	Representative Director and
	President
Securities code:	7030 1st Section of the Tokyo
	Stock Exchange
Inquiries:	Masafumi Shitara
	General Manager
	(Telephone: [phone])

Plan for Compliance with the Continued Listing Criteria for the New Market Segment

SPRIX, Ltd. (the "Company") announces that it has submitted an application to select the top-tier Prime Market with respect to the restructuring of market segments of the Tokyo Stock Exchange, Inc. scheduled in April 2022. As of the base date for transition (June 30, 2021), the Company failed to meet the continued listing requirements for the new market. Accordingly, the Company has prepared a plan for compliance with the continued listing criteria for the new market segment as described below.

1. Compliance with the continued listing criteria and targeted date

According to the Company's compliance status regarding the continued listing criteria for Prime Market as of June 30, 2021, the base date for transition, the Company's market capitalization of tradable shares is 7.3 billion yen, which is behind the required amount. The Company is ready to take necessary measures to meet the criteria for market capitalization of tradable shares by the fiscal year ending September 30, 2025.

	Number of	Market capitalization	Tradable share ratio	Daily average
	tradable shares	of tradable shares	trading value
	(%)
	(unit)	(yen)	(yen)
The Company's status
(at the base date for	64,601	7.3 billion	37.3%	80 million
transition)
Continued listing criteria	20,000	10.0 billion	35.0%	20 million
Item described in the		〇
Company's plan

2. Basic policy, challenges, and initiatives for the compliance with the continued listing criteria

(1). Basic policy

The Company is aiming to comply with the continued listing criteria for Prime Market by promoting necessary measures to achieve sustainable growth and enhance enterprise value over the next few years. Further, the Company is committed to address the following to further strengthen its corporate governance system: to review the organization structure so that it has greater flexibility amid the rapidly changing business environment; and to reinforce risk management systems and raise awareness on compliance.

(2). Challenges and initiatives (Challenges)

While the number of shareholders and tradable shares is retained at a certain level, the Company has failed to meet the criteria of "Market capitalization of tradable shares." Accordingly, it is essential for the Company to successfully undertake initiatives to enhance the enterprise value of the Company.

(Initiatives)

Going forward, the Company will carry out initiatives based on the "Mid-term KPI targets and three business strategies" disclosed in the Presentation Material, the supplementary information for the fiscal year ended September 30, 2021, which is attached herein.

The forecasts for results of operations and other forward-looking information in this material are based on information currently available to the Company as of the date of the announcement and assumptions subject to a number of uncertainties that may affect future results. Actual results may differ from the forecasts due to various reasons.

FY2021 Consolidated Financial Results

(October 2020 to September 2021)

November 12, 2021

(TSE code:7030)

MISSION and VISION

MISSON

Bring new life stage (SPRING) through

Education to people around the world

VISION

Be the No.1 in education

1

1

Operating Results