Translation (preserving HTML format, single-line output): Asian Development Lawsuit Filed!! SimBio, Frontéo [Massive Drop]

Background and reasons leading to this suit Our company and its associates suffered substantial damages directly or indirectly due to the defendant's engagement in multiple improper transactions with other companies during the period when they held the position of (representative) director of our company, which resulted in Tokyo Stock Exchange designating us as a special market for monitoring (Special Attention Market) (please refer to the TSE timely disclosure dated August 6, 2021, “Notice on Designation of the Special Attention Market and the Claim for Cancellation of Listing Contract Penalties”).