Disclaimer

Market data, corporate fundamentals, asset analytics, proposed portfolio allocations, simulation outputs, and AI-assisted responses provided through "Velpha" (collectively, "Provided Information") are intended solely as analytical reference materials to support users' autonomous asset management and investment decision-making. Nothing herein constitutes a recommendation, solicitation, or endorsement to acquire, hold, or sell any security or financial product. The Company is not registered as a Type I or Type II Financial Instruments Business Operator, Investment Management Business, or Investment Advisory and Agency Business under the Financial Instruments and Exchange Act of Japan (FIEA). The Company does not provide individualized investment advice, execute or intermediate trading orders, or hold client custody or funds. Furthermore, Provided Information does not substitute for tax, legal, or accounting advice.

Transactions involving financial instruments (equities, fixed income, mutual funds, ETFs) inherently carry risks of capital loss due to market price fluctuations, foreign exchange variations, interest rate shifts, issuer credit degradation, and market illiquidity. Analytical scores, asset allocation scenarios, historical backtests, and prospective simulations displayed on the Service do not guarantee future investment returns, capital preservation, or profitability. All final decisions regarding investments and asset allocation must be made solely at the customer's independent discretion and responsibility.

While the Company endeavors to procure data from reliable external financial sources, Provided Information may be subject to delays, transmission errors, omissions, or processing lags. Moreover, analytical and simulation models inherently operate under theoretical constraints and modeling assumptions; past performance is never an indicator or guarantee of future returns. Graphical charts and numerical examples displayed on public-facing pages include hypothetical model cases designed strictly for illustrative purposes.

Outputs generated by AI features within the Service are automatically synthesized using probabilistic large language models and may contain factual inaccuracies or incomplete deductions. AI responses do not represent definitive forecasts or personalized trading directives. Users are advised to verify critical figures against official statutory disclosure documents and apply their independent judgment.

Available features and user eligibility remain subject to modification depending on development phases and preview rollouts. Furthermore, all or part of the Service may experience temporary interruptions due to regular or emergency maintenance, communication outages, force majeure events, or API modifications and service terminations by external third-party providers (such as Google Calendar). Conditions governing service interruptions and access restrictions are detailed in Articles 11 and 12 of the Terms of Service.

Users may utilize standard social sharing functions provided within the Service to publish their assigned registration number, digital Launch Pass image, milestone badges, and dedicated referral URLs on external social media platforms. Users are strictly prohibited from publicly disclosing sensitive data, including login authentication URLs, authentication tokens, or personal identifiers of third parties. Intellectual property rights in third-party market feeds and data remain vested in their respective providers, and unauthorized scraping, reproduction, or redistribution is strictly prohibited.

If a user incurs damages in connection with the Service, the Company's liability shall be determined in accordance with Article 13 of the Terms of Service and applicable statutory law. Nothing in this Disclaimer shall be construed as excluding liability for willful misconduct or gross negligence by the Company, nor as curtailing any mandatory consumer protections established under the Consumer Contract Act of Japan or other applicable statutes.