GRApP Inc. (Headquarters: Chuo-ku, Osaka City, Osaka Prefecture; Representative Director: Tatsuya Kinugasa; hereinafter referred to as "our company") will begin operations of the apartment hotel "NOVI BY TOPAZ DOTONBORI" on July 1, 2026. "NOVI BY TOPAZ DOTONBORI," which will be operated this time, is a joint venture between VNJ Corporation (Headquarters: Chuo-ku, Osaka City, Osaka Prefecture; Representative Director: Akio Nakao; hereinafter referred to as "VNJ") and our company, and this will be its first full-scale operation. ■ Overview of Initiatives Our company operates 58 apartment hotels and other accommodation facilities nationwide, catering to tourism demand, primarily from inbound visitors, and plans to open 26 new facilities by 2028. We provide one-stop operations from opening consulting during the construction phase to OTA marketing, reservation management, guest support, and cleaning. In this project, we will be responsible for hotel operations based on our company's strengths and know-how. VNJ focuses on the development of hotels and lifestyle-oriented real estate in major Japanese cities, centered around Osaka, and operates a long-term hotel real estate development platform that integrates "development, asset management, brand, and human resources." In this project, VNJ has been responsible for project management from land acquisition to development, construction, opening preparations, and operational system establishment. ■ Scheme Through Alpha Nova Capital, VNJ has established long-term funding relationships with wealthy investors and family offices in Asia. The fundraising for this project fund was conducted by Morgan Stanley Bank Asia Limited and has already been completed. We will build a funding base by flexibly combining sponsor capital, investor funds, and bank loans for each project. TOPAZ will undertake the ownership of this hotel property, and LGT Bank will own the Kizu Market property scheduled to open next year, utilizing our network with i