Notice Regarding Partial Business Transfer and Absorption-Type Merger of Eggs Co., Ltd. – Aiming for Further Revitalization of the Music Market

RecoChoku Co., Ltd. (Headquarters: Shibuya-ku, Tokyo; President and CEO: Toru Itabashi; hereinafter "RecoChoku") resolved at its Board of Directors meeting held on March 24, 2026, to transfer the 'Platform Business (Eggs Media, GIGGS)' and 'Agent Business' of its subsidiary, Eggs Co., Ltd. (Headquarters: Shibuya-ku, Tokyo; President: Eitaro Shibasaki; hereinafter "Eggs"), to Tokyu Corporation (Headquarters: Shibuya-ku, Tokyo; President: Masahiro Horie; hereinafter "Tokyu") effective March 31, 2026. Furthermore, as announced on February 26, 2026, in the 'Notice Regarding the Absorption-Type Merger of Eggs Co., Ltd.,' RecoChoku will absorb Eggs effective April 1, 2026, following the business transfer. The 'Distribution Business (Eggs Pass)' will be operated directly by RecoChoku. Through these actions, we will accelerate the optimization of management resources and business efficiency, contributing to the sustainable development of the music industry and the creation of multifaceted value within indie culture. ■ Background of the Transfer RecoChoku, with its vision of 'Designing new relationships between people and music,' and Eggs, with its vision of 'Creating as many encounters as possible between artists and fans,' have operated various businesses to support the activities of indie artists from multiple perspectives. Meanwhile, Tokyu has positioned music as a key category in its entertainment business and has promoted various projects to support the creative and expressive activities of indie artists. In discussions with various potential transferees, we determined that Tokyu and Eggs share the philosophy of 'contributing to the development of music culture through support for indie artists.' Furthermore, we concluded that the 'Platform Business' and 'Agent Business' have a high degree of complementarity with the live performance venues, promotional activities, and fan engagement opportunities provided by Tokyu. We decided to transfer the business to Tokyu, believing it to be the best path to realizing the Eggs vision of 'creating as many encounters as possible between artists and fans.' Please note that from April 1, RecoChoku will establish a new business division to operate the 'Platform Business (Eggs Media, GIGGS)' and 'Agent Business' under contract from Tokyu, with the current personnel continuing to manage the operations. ■ Overview of Business Transfer Details of the Subject Business Platform BusinessOperation of the 'Eggs' platform connecting indie artists and listeners, and the 'GIGGS' platform for live music information.