~Creating a new way to have fun at the live show venue~ avex and LDH JAPAN will establish their first joint venture and start sales business at live show venues

avex entertainment Inc. (Headquarters: Minato-ku, Tokyo / Representative director and president: Katsumi Kuroiwa / Hereinafter referred to as "AEI") and LDH JAPAN Inc. (Headquarters: Meguro-ku, Tokyo / Representative director and CEO: Masataka Mori / Hereinafter referred to as "LDH JAPAN") will establish a new company named HI&max Inc. (Hereinafter referred to as "HI&max") which will sell concert goods at live show venues. "HI&max" is the first joint venture established by AEI and LDH JAPAN.

The live show market has been expanding in recent years. It made a 332,448 million yen profit in 2017 (according to the statistics by ACPC from January 2017 to December 2017) and hit the highest sales in the past. Along with the expansion of the live show market, sales of concert goods at venues are also expanding.

Under such market background, "HI&max" as the first joint venture between AEI and LDH JAPAN will make use of the two companies' abundant financial resources and scale advantages born by integrating the businesses that the two companies have separately conducted to develop their business.

Moreover, by incorporating technologies that evolve every day and taking into account customers' feedback at the venue, we will update our product manufacturing and sales methods as well as improve usability, and will adopt a new style of venue sales that is not confined to existing concepts.

In addition, in the sales area (community area) at the venue, by providing not only sales of concert goods but also events and various services, such as food and drinks, we will create a new "live entertainment place" and deliver an experience better than ever to our customers.

●avex entertainment Inc. Chairman and Representative Director CEO Masato Matsuura's Comment
avex and LDH JAPAN talked about founding a company together in the past and it came true in the form of the first joint venture company between avex and LDH JAPAN.

Each company has its own culture. avex has over 15 years of experience in setting up the community area at the venue of a-nation live show while LDH JAPAN has the know-how of carrying out projects to boost the live show venue, such as "Izakaya EXILE". By making full use of the strengths of both sides, I hope that we will be able to create a new community area which not only offers goods sales for visitors. Starting with HI&max, I look forward to collaborating with LDH JAPAN in various ways in the future.

●EXILE HIRO's Comment
For us, live show is a very important place to share love, dream and happiness with our fans.

And this time, we decided to establish the first joint venture company with avex so that more people can enjoy such live shows.

We will keep on working together so that more people could enjoy various live performances and spend a wonderful time at the live show venue. Please continue to support us in the future!

●Information about the joint venture
(1) Company name: HI&max Inc.
(2) Location of head office: 3-1-30 Minami Aoyama, Minato-ku, Tokyo
(3) Time of establishment: November 2018
(4) Executive Structure
Representative director and president: Satoshi Arasaka (AEI)
Representative director and vice president: Taishi Noda (LDH JAPAN)
Director: Kanji Ito (LDH JAPAN)
Director: Koji Takuma (AEI)
(5) Investment composition: AEI 50%, LDH JAPAN 50%
(6) Main business:
① Sales of concert goods and other goods etc. at live show venues
② Venue arrangement at the live show venues, etc.
(7) Capital: 100 million yen (including capital reserve)