Hibiki Path Advisors Website

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10/Mar/2024 – Proposal Letter to AlphaPolis Co.,Ltd.

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Hibiki Path Advisors (“We”), through our customer accounts, are a shareholder of AlphaPolis Co., Ltd (“AlphaPolis”) and we sent a letter “Proposal to Enhance AlphaPolis Corporate Value” to the board of AlphaPolis on 1st March 2024.

AlphaPolis has a highly unique business model. By making full use of the highly appealing website for creators, the company meticulously selects works with a high likelihood of success through its distinctive insight from the many pieces submitted voluntarily. Supported by talented editorial staff, these chosen works are then transformed into published books. In this letter, we have conveyed our proposals as a minority shareholder of AlphaPolis on three things: its governance structure, Investor Relations (IR) strategy and shareholder return measures as the company is highly undervalued by the market. We are hoping that not only the management but also all shareholders to think and digest our proposals and utilize them in their respective constructive engagement with AlphaPolis.

Proposal to Enhance AlphaPolis Corporate Value

This proposal letter does not constitute an offer, recommendation, or solicitation to buy or sell any security or enter into any other transaction. Hibiki does not purport to provide any investment, financial, legal, or other expert advice or recommendation in this document.