Kakuku.com, Inc. announced that its Board of Directors approved on March 18, 2020 the following organizational and personnel changes. 1. Organizational changes (effective April 1, 2020): The Company will implement the following organizational changes for more efficient intra-departmental coordination. Reorganize the Kakaku.com business by creating a two-division structure consisting of a "Shopping Business Division" and "Service Business Division". This change will include a transition from the current functional organization to a divisional organization in which parts of the planning/production and sales functions will be consolidated under the two business divisions. The aim is to facilitate content creation that meets domain-specific user needs in a more precise manner, and sales activities that harness the characteristics of this content. Divide the Tabelog Sales Division, the division responsible for restaurant promotion business-related sales activities, into three departments - a "Direct Sales Department 1", "Direct Sales Department 2", and "Direct Sales Department 3". This change will facilitate finer segmentation of target clients according to company size and trading area. Establish a five-department structure within the Tabelog System Division by creating a "Web Development Department", "App Development Department", "Restaurant System Development Department", "New Business Development Department", and "Technical Department". The aim of this change is to accelerate development connected with new Tabelog-related businesses and enhance the development of increasingly diverse user interfaces Create a "Media Design Department" within the Business Development Division, the division responsible for New Media-related business. Combine the icotto business and Kinarino business by creating a "Kinarino/icotto Department"

The company also announced personal changes (effective as of April 1, 2020). Kanako Miyazaki, Director and Executive Officer General Manager, Kakaku.com Division as Director and Executive Officer General Manager, Shopping Business Div., Ryu Shibaki, Executive Officer, General Manager, Tabelog Sales Div. Manager, Sales Promotion Dept. and Agency Sales Dept., Tabelog Sales Div. as Executive Officer General Manager, Tabelog Sales Div. Manager, Agency Sales Dept., Tabelog Sales Div., Takeshi Kamada, Executive Officer, Assistant General Manager, Kakaku.com Div. Manager, Media Creative Dept., Kakaku.com Div. as Executive Officer Assistant General Manager, Shopping Business Div. Manager, Media Creative Dept., Shopping Business Div., Tomoyuki Watabe, Executive Officer General Manager, Business Development Div. Manager, Kinarino Dept., Business Development Div. as Executive Officer General Manager, Business Development Div. Manager, Kinarino/icotto Dept., Business Development Div, Takayuki Kyowa, Acting General Manager, Tabelog System Div. Manager, Technology Dept., Tabelog System Div. as General Manager, Tabelog System Div. Manager, App Development Dept. and Technology Dept., Tabelog System Div, Hideki Ono, Manager, Service Dept., Kakaku.com Div.as General Manager, Service Business Div. Manager, Planning Dept. and Priceprice Dept., Service Business Div, Koji Kanemoto, Manager, System Platform Dept., Platform Technology Div. as General Manager, Platform Technology Div. Manager, System Platform Dept., Platform Technology Div.