Announcement: August 12, 2023

Dear Haru Invest Members,

This is Haru Invest, Hugo Lee.

I would like to inform you of this week’s progress.
Since there have been no particular developments, this week’s update will center on work in progress and matters being prepared.

1. We are in preparation for clarifying my and Haru Invest’s position during the rehabilitation-related questioning that are scheduled to take place in court. The majority of our members would want our assets to be distributed “as quickly as possible” and “as safely as possible.” As I informed you in my previous announcement, we plan to contemplate what the measures genuinely necessary for our members are and express our opinions regarding this to the court.

2. About the B&S Holdings investigations, we are striving to support and respond to various requests from the investigating agency as swiftly as possible. With this, we aim to move the asset recovery from B&S Holdings forward even a single day. We will continue to actively cooperate with the investigating agency in order to expedite the investigations into B&S Holdings.

3. Other updates: Following the suspension of Haru Invest’s business activities, even though we drastically cut down various expected costs beforehand, server costs and other operating costs to maintain our service are continuing to be incurred, in addition to costs that are springing up unexpectedly (legal costs required for responding to the rehabilitation commencement application, for example). Even when fixed expenses are kept to a minimum, we believe that a different type of planning is required for risks that may occur owing to unforeseeable aspects of how long the service would be able to be maintained.

4. Haru Invest and I will continue to strive to ensure that the recovery and distribution of our members’ assets are completed quickly, safely and equitably.

Thank you.

Sincerely,
Haru Invest, Hugo Lee