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*This is the report that legally required as a listed company in japan to support investment decision by providing the company's certain information, under article 24, paragraph 1 of the financial instruments and exchange act of japan.
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*This report was commissioned by Recruit Holdings Co., Ltd.; however, the research and analysis were conducted independently, objectively, and neutrally by the research firm. This document is provided for informational purposes only and does not constitute a recommendation or solicitation to buy or sell the Company’s stock.