Terms of Use

These Terms of Use (the "Terms") describe your terms and responsibilities when using the various services offered as a part of our online service "VALU" (the "Services") operated by VALU Inc. (the "Company", "we", "our", "us") In order for users of the service (the "Users") to use the Services, they must first agree to the entire Terms (hereinafter including all rules, guidelines, privacy policies of the Service if any). Once Users begin using the Services, they are deemed to acknowledge the understanding and have agreed to the Terms.

CHAPTER I General Provisions 1. Content of The Services
  1. As a part of the Services, Users can issue their own VALU (Users who issue VALU are known as "Issuers"), and can increase Users' fans who purchase their VALU (the "VALUERS"). Users can purchase other Issuers' VALUs, and by becoming a VALUER, they can support the Issuer as well as interact with the Issuer by receiving limited information and/or utilities if offered. VALUs that are purchased by Users can be transferred between Users. For example, if User A acquires VALU issued by Issuer X and then transfers such VALU to User B, User B becomes a VALUER of Issuer X.

    We provide and operate the environment in which Users can issue VALU and in which Users can make purchase and/or sale of VALU between Users. The sale and purchase of VALU between Users and the due performance of utilities are entirely the responsibility of the concerned Users and the Company has no liability in relation to such activities between the Users for we will not sell or purchase VALUs nor act as a consignee for such.
  2. For VALUERS, VALU is designed to express support for the Issuer, and show that VALUERS have a special status. The Issuer can, at its own discretion, offer utilities to his/her VALUERS in accordance with the Terms.
  3. VALU IS NOT A TYPE OF SECURITIES INCLUDING SHARES, PREPAID PAYMENT INSTRUMENT, LEGAL CURRENCY, NOR CRYPTOCURRENCY. VALU cannot be used on anywhere other than the Services in accordance with the Terms. At the first issuance of VALU, the initial value is determined by factors including the number of followers that the Issuer has on the linked social media. Once issued, the Users make sale and purchase of the VALU by the market price. Therefore, depending on the popularity of the Issuer, the market price of VALU issued by such Issuer may rise or fall. For the Users use the bitcoins (the "BTC") for purchase and sale on the Services, there is a financial risk of the BTC's volatility that affects the market price of the VALU on the Services. In addition, in a case that the Issuer of VALU cancels the membership of the Services or is restricted in the use of the Services by the Company in accordance with the Terms, there is a risk of losing an entire value of the owned VALU.
  4. Any completed sales or purchase transactions of VALU cannot be cancelled, regardless of the reason. The Company and Users have no obligation to purchase VALU or make a refund of the payment for purchasing VALU, unless otherwise stated in the Terms. When purchasing VALU, please ensure that you are fully aware of the risks regarding price volatility as stated above and enjoying transactions of VALU from the perspective of supporting the Issuer as a fan.
  5. Users can block other user(s). The blocked User cannot view profile and posts of the blocking User, and purchase the blocking User’s VALU if the blocking User has issued his/her VALU. (If the blocked User already has the blocking User’s VALU prior to the blocking, the blocked User can sell such VALU.)
  6. We use the term “VA” as a unit for VALU in the Service.
2. User Registration
  1. You cannot be registered as a User if you do not possess either a telephone number or an identification card authorized by governmental institution. If you are underage under the applicable laws and regulations, you cannot use the Services without acquiring the full consent of your legal guardian(s). In order to transfer the BTC out of or into the Services, you need to have a BTC wallet operated by a third party. This Services do not include a function of exchanging BTC to cash or a BTC wallet function. Users can use any third parties' service for such function. BTC is not a legal currency and you have a risk of financial damage due to its volatility. Before using BTC for the Services, please ensure that you are fully informed of such risk by the cryptocurrency exchange service provider. If the Company deems it necessary, we may request the submission of further necessary documentation or information from those who apply for User registration.
  2. The Services are not available in the United States. We cannot provide the Services under the applicable laws of the United States if you are a U.S. citizen and/or a green card holder of the United States.
  3. Please apply for User registration by yourself. All and any information provided during the User registration is deemed to be accurate and the Company does not warrant nor represent the accuracy of User-provided information. Possessing multiple accounts of the Services is strictly prohibited.
  4. The Company may, with its full discretion, approve or reject the application for User registration. Even after the registration the Company can revoke the User registration if the Company deems it necessary. User registration may be rejected or revoked if:
    1. the application does not fulfill the requirements stated in 2.1.;
    2. the Company deems that a membership has been created or an application for membership has been made using another person’s details;

    3. all or a part of the User information provided to the Company during registration is found to be inaccurate, untrue, incorrect or incomplete;
    4. 
the Company deems that a person attempts to make multiple accounts of the Service;
    5. the Company deems that the User does/may obstruct or cause hindrance to the operation or provision of the Services or using the Services by other Users;
    6. the User is underage, an adult ward, a person under curatorship, or a person under assistance, and has not acquired the consent of his/her statutory agent, guardian, curator, or assistant;
    7. 
the Company deems that the User belongs to any antisocial forces, etc., or has any contacts or involvement with such antisocial forces, etc. by any means including supporting or being involved with operation or management of the antisocial forces, etc. by providing financial supports, etc. (The antisocial forces is hereinafter defined as an organized crime group, a member of such group, a right-wing group, and any other derivative group);
    8. 
the Company deems that the User is involved in a business that commoditizes information or provides similar services; or
(i) the Company deems to be inappropriate for any other reasons.
  5. The Company is not responsible for and held harmless from any damages that is caused because of the User registration or changing registered information by the User, or the rejection of the User registration by the Company.
3. Revocation/Suspension of Membership
  1. The Company may, without any prior notice, revoke or suspend the User’s membership for the Services, suspend the User’s use of the Services, or repeal VALU issued by such User. If the User’s membership is revoked, the VALUs in the possession of, or issued by such User will be invalidated, and cannot be reacquired, if the Company deems that:
    1. the User has violated laws and ordinances, the Terms, or any other guidelines for the Services set forth by the Company;
    2. the User has fraudulently used or allowed someone to use his/her own User ID or password of the Services;
    3. the User is found to fall under any of the categories set forth in 2.4.;
    4. the User has acted disrespectfully or disruptively to other User(s);
    5. the registered cellphone number or email address of the User becomes invalid
    6. the registered BTC wallet is found to have any issues including illegal use or a risk of such issues;
    7. the User has not used the Services for a period set forth by the Company; or
    8. the User has used the Services for any other fraudulent purposes, or there is a risk of such use.
  2. The Company can, at its sole discretion, withhold sending BTC to the User's account if the receiving User's membership is suspended or revoked or such User's VALU is invalidated and there is an outstanding BTC transaction to send BTC to such User, or if the receiving User is suspected of being involved in any illegal activities.
  3. The Company is not responsible for and held harmless from any damages incurred by the User due to the Company's action in accordance with the Terms, except a case that such damages are caused due to the Company's intention or gross negligence.
4. Management of User ID and Password, Membership
  1. The User is solely responsible for managing and storing his/her own User ID, password, identification information, and etc. issued by the Company. The Company shall be held harmless from the damages incurred due to the User's insufficient management of his/her User ID, password, and/or identification information, and as a result of suspension and so on of the User’s account of the social network service(s) that are linked to the Service
  2. Membership and the right to use the Services belong to the original User only and cannot be used by, assigned to, lent to, or put in collateral, or inherited by any other persons including the User's heir. The Company shall be held harmless from the damages incurred due to the abuse by a third party of his/her User ID, password, and/or identification information.
  3. The User shall immediately notify the Company and follow any instructions given by the Company in a case that a User ID and/or password become known to a third party or that the User ID and/or password may have been used by a third party. The Company can suspend the use of such User ID and/or password by its sole discretion.
  4. VALU can be purchased between Users including Issuers, VALUERS of such VALU, and Users who want to become VALUERS only within the Services in accordance with the Terms. As VALU represents a status of supporting the Issuer by the VALUER, VALU becomes invalid at the time when the Issuer of such VALU or the VALUER passes away. Users acknowledge and agree that VALU cannot be inherited.
5. User's Warranty and Representation

    Users warrant and represent that they are not and will not be involved in any kind of antisocial forces. Users also warrant and represent that they will not commit violent acts of demand, make improper demands that exceed legal responsibility, use threatening language or behavior or violence regarding transactions, defame reputation or obstruct the business operation of the Company by spreading rumor or using fraudulent means or forces, or perform any actions equivalent to foregoing items.

6. Withdrawal of VALU and Membership
  1. Users may withdraw issued VALU or from the membership of the Services in accordance with the procedures set forth by the Company.
    1. In a case that the User has not issued VALU and wishes to withdraw from the membership, such User may do so by notifying the Company of its intention of withdrawal via the customer support.
    2. In a case that the User has issued VALU and wishes to withdraw issued VALU (but not from the membership), such User may withdraw the issued VALU after the probationary period of 3 months after notifying the Company of its intention of withdrawal, except (i) that the User has set the special privileges and such privileges are not fulfilled/performed, (ii) that the User informs its VALUERS of the plan of setting the special privileges but has not set such, or (iii) that the User has issued and sold the Event Ticket(s) (defined below) but the Event of such Event Ticket(s) has not been performed. The Users may withdraw the issued VALU only after setting/fulfilling such privileges or performing the Event. If the User withdraw the issued VALU, such User may not issue VALU again.
    3. In a case that the User has issued VALU and wishes to withdraw from the membership, such User may do so after the probationary period of 3 months after notifying the Company of its intention of withdrawal, except that the User has set the special privileges and such privileges are not fulfilled/performed or that the User informs its VALUERS of the plan of setting the special privileges but has not set such. The Users may withdraw from the membership only after setting/fulfilling such privileges.
    4. During the probationary period, the notification of the planned withdrawal of VALU or membership will be displayed on MY VALU of such User.
  2. It is the User's sole responsibility that the User sells any remaining VALU of other Users or transfers any remaining BTC from his/her accounts. The Company may, at its full discretion, invalidate any remaining BTC and/or VALU at the time of withdrawal from the membership.
  3. The company shall not be held responsible for any damages incurred by the Users due to any measures in accordance with 6.1. or 6.2., except that such damages are caused intentionally or by gross negligence of the Company.
  4. VALUERS acknowledge the risk that the Issuer may withdraw the issued VALU or from the membership and the owned VALU of such Issuer will be invalid at the time of withdrawal after the probationary period of 3 months.
  5. VALU becomes invalid and disappears at the time when the Issuer of such VALU passes away. If VALUER passes away, any VALUs owned by such VALUER become invalid and disappear. In a case that there is a remaining BTC in a account of the User who passes away, the Company provides reasonable supports necessary for succeeding such BTC by inheritors only if the full consent by all inheritors is confirmed with a proof.
  6. 7. Management of Personal Information
    1. The Company may use any personal information provided by Users, within the scope that is required to provide the Services and within the scope of the purposes set forth in the privacy policy. Users consent to the management of their personal information by the Company, in accordance with the Company's privacy policy.
    2. For purposes such as for offering special privileges and/or holding the Event(s), the Company may, with the User’s consent, provide personal information to other Users through the Services. Users may only use personal information for the purpose of providing special privileges. Any other use of the personal information is strictly prohibited.
    3. The submission and provision of personal information as outlined in the foregoing paragraphs, are based upon the consent of the User. The Company shall not be held responsible for any troubles or damages incurred by Users due to providing or submitting personal information, or from its use of such personal information. Provision of data from Users to other Users shall be performed only if the Users have a full understanding of and the content to this paragraph.
    4. In a case that the Company receives the request for information from governmental bodies, financial entities, bar associations, etc., the Company may disclose personal information of the User that is subject to such request for information.
    8. Prohibited Actions
    1. In relation to the use of the Services, The Company prohibits Users from the actions listed below and listing and selling Event Tickets of the Events on the service that is related to such actions. If the Company discovers any actions by the Users that may fall into any of the following categories, the Company may, without any prior notices, revoke or suspend the User’s membership, suspend the User’s right to use the Services, invalidate VALU issued by such User, or any other actions that the Company deems necessary.
      1. Violating any applicable laws (including Act on Specified Commercial Transactions, Act against Unjustifiable Premiums and Misleading Representations, and Consumer Contract Act), the Terms, or any rules or guidelines set forth separately by the Company.
      2. Infringing upon public order and morals.
      3. Obstructing the Company's service operations.
      4. Actions that are connected to fraud or other crimes.
      5. Posting untrue or deceptive information (including misrepresentation of the sex).
      6. Actions that call for the purchase of VALU by making guarantees about price increases of VALU, etc., make other Users prejudge the rise or fall of VALU's price, attract a purchase of VALU by making other Users' misunderstanding, or manipulate the VALU's price that is out of actual market situation.
      7. Setting a monetary, financial, or physical condition required for receiving a special privilege, other than owning the designated number of VALU described in a detail of the special privilege on the Services.
      8. Requiring a purchase of VALU of the User's own or other Users as a condition for purchasing a certain User's VALU or providing a certain service to the purchaser out of the Services, by any means that may improperly attract Users to purchase VALU.
      9. Purchasing VALU of the User with knowing information that falls into any of the categories below from other sources than the available information on the Services, before such information becomes publicly available to all other Users on the Services:
        • A plan to purchase or sell its own VALU by Issuers
        • A plan to set a special privilege
        • Withdrawal from the membership
        • A plan to purchase or sell VALU by VALUERS
        • A plan to sell the Event Ticket(s) by Issuers
        • Any other information that may significantly affect User's judgment of purchasing or selling VALU
      10. Actions that violates rules set forth by 10.3., 11.5., or 19. and later, or makes arbitrage of such rules.
      11. Planning, evaluating, preparing, or performing actions that may falls into any of the proceeding (6) to (10) items, with or without other Users, including communications on other social network services.
      12. Actions that the Company deems an abusive use of blocking, including sudden blocking of numerous VALUERS and demanding any actions to other User(s) in relation to blocking or unblocking.
      13. Providing an item whose value is significantly apart from the price of VALU necessary for receiving such item as a special privilege, or providing such item with informing VALUERS of its market price.
      14. Claiming financial or monetary benefit that VALUER may receive in relation to a special privilege, in a way that the Company deems improper in a view of the Services' policy.
      15. Re-selling the Event Ticket.
      16. Setting price of the Event Ticket unreasonably high or low, or improperly attracting Users to purchase or sell VALU in relation to the sales of the Event Ticket.
      17. Providing dividends to VALUERS or shares of assets from the business that the Issuer operates by the budget gained from the issuance of VALU.
      18. Actions that infringe upon the rights of the Company, Users, or any other third parties.
      19. Actions which defame or slander others.
      20. Impersonating as others, or using another person's account of the Services.
      21. Posting information in relation to actions that are ethically problematic (e.g. vulgar, harmful, indecent), contents that cause revolt in others, pornography, prostitution, adult entertainment, or so-called drugs including marijuana.
      22. Actions which are at risk of misleading or confusing others.
      23. Actions which are at risk of annoying or discomforting others.
      24. Actions intended to ethnically, racially or otherwise discriminate against others, or which may incite discrimination (including but not limited to multi-level marketing business, sales of commoditized information, etc., or recruitment of others to such business).
      25. Actions related to election campaigning.
      26. Actions which have a negative influence on the functions of computer equipment, communication lines, or software, such as the transmission of computer viruses.
      27. Unauthorized access to systems related to the Services.
      28. Actions with the purpose of money laundering.
      29. Actions which suggest or demand prostitution or other sexual services.
      30. Acting for another person for his/her issuance, purchase or sale of VALU.
      31. Actions that are defined as gambling.
      32. Posting special privileges without providing specific details about their contents (i.e. posting "I'll do anything", "I'll only provide details via email", or "Contact me if you want to do online work as a side job", or posting content in a way that attempts to hide details or uses a secret language).
      33. Actions which involve committing violent acts of demand, making improper demands that exceed legal responsibility, use threatening language or behavior, or make use of violence, spread rumor, or use fraudulent means or force to damage the company's reputation or disrupt the company's operations, either directly or through a third party.
      34. Using the Services for the purpose of acquiring the funds for gaining securities, cryptocurrency, or any equivalent objects, or claiming such purpose in relation to the Services within or out of the Services.
      35. Actions which the Company deems possibly falling under any of the above items.
      36. Any other actions which the company deems to be inappropriate.
    2. The Company may take any measures that the Company deems necessary for protecting Users in accordance with 8.1., including the following actions. The Company may apply any of the following actions to not only the User(s) who conducts violations but also any Users to the extent necessary for protecting Users.
      1. Restricting sales and purchase of VALU (including cancellation of reserved transactions)
      2. Restricting withdrawal of BTC
      3. Invalidating VALU
      4. Suspending or cancelling the membership
      5. Any actions including canceling transactions of all Users
      6. Any other restrictions for using the Services
      7. Publicly announcing details of the violation(s) occurred on the Services
    9. Issuance of VALU
    1. Users may issue their own VALU by paying a ¥500 (plus tax) issuance fee per transaction. The issuance means gaining VALU by the Issuer after determining the content and number of VALU, prior to the sales or purchase of VALU set forth in 10. However, the Company may issue VALU free of charge for a limited period when the Services first begins to be offered. The issuance fee can be paid by a credit card or in BTC.
    2. In order to issue VALU, Users shall first pass the Company's screening process. If you are authorized to issue VALU as a result of the screening (screening will take approximately 3 business days), the above mentioned issuance fee of ¥500 (plus tax) will be charged. If you are not authorized to issue VALU, you will not be charged an issuance fee. After the issuance fee has been charged, the issuance fee cannot be cancelled or returned for any reasons.
    3. Any Users who had withdrew the issued VALU before cannot re-issue VALU, unless otherwise specifically approved by the Company.
    4. The Company makes no guarantees regarding the results of the screening, and shall not be held responsible for damages caused to Users due to not being authorized to issue VALU, except for situations caused intentionally or by gross negligence of the Company. The Company is not obliged to disclose the detail and reason of the screening.
    5. The Company conducts the screening with general consideration of information available from User registration, the connected social network services, and other sources. The reasons for not authorizing issuance of VALU includes a case that:
      1. the Company deems that all or a part of the connected account of social network services are not personal account of the User's own (including the accounts for enterprise, brands, or services that the User operates);
      2. the Company cannot find enough activities on the social network services;
      3. the Company deems that the User is about to or has impersonate(d) others;
      4. all or a part of information provided at the User registration includes incorrect, false, miswritten, or lack of information;
      5. the Company finds difficult to judge due to the lack of information provided at the User registration;
      6. the User who applied for issuance of VALU has a record of penalty on the Services for violating the Terms or any other reasons;
      7. the Company deems that the User has or will obstruct(ed) the operation of the Services or the Company or the use of the Services by other Users;
      8. the User is underage, an adult ward, a person under curatorship, or a person under assistance, and has not acquired the consent of his/her statutory agent, guardian, curator, or assistant;
      9. the Company deems that the User belongs to any antisocial forces, etc., or has any contacts or involvement with such antisocial forces, etc. by any means including supporting or being involved with operation or management of the antisocial forces, etc. by providing financial supports, etc.;
      10. the Company deems that the User is involved in a business that commoditizes information or provides similar services; or
      11. the Company deems to be inappropriate for any other reasons.
    9-2. Dividing VALU
    1. The Issuer may request for dividing VALU by following the procedure set forth by the Company. Dividing VALU means dividing all VALUs by the same ratio. (The maximum and minimum ratio for dividing is set separately in the transaction rule by the Company.) For example, if you divide VALU by the ratio of 10 times, 10VA before the dividing will become 100VA after the dividing. As all VALUs (including VALUs owned by the Issuer and VALUERS) are divided by the same ratio, overall value of VALUs owned by the Issuer or VALUERS does not change.
    2. The Company retains the full discretion for the review and judgment about the Issuer's request for dividing VALU, and VALU can be divided only if the Company approves to do so. The maximum number of VALUs set forth in the transaction rule by the Company applies to the number of VALUs after the dividing. The Issuer may not divide its VALU to exceed such maximum number. The Issuer may not request for another dividing of VALU for the limited period set forth in the transaction rule by the Company.
    3. The Company makes no guarantees for the result of reviewing the request for dividing VALU, and shall not be held responsible for any damages incurred by the User in relation to not being authorized for dividing VALU, unless such damages are caused intentionally by or by a gross negligence of the Company. The Company is not obliged to disclose the detail and reason of reviewing the request for the dividing.
    4. In a case that VALUs are divided, the Issuer of such VALU shall pay the dividing fee set forth in the transaction rule by the Company to the Company.
    5. In a case that the Issuer has set the number of VALUs as one of the conditions to receive a special privilege, such number will be adjusted to reflect the dividing. The Issuer shall perform the special privilege in accordance with the adjusted condition. As such adjustment is informed in the detail of the special privilege, VALUERS shall check and acknowledge such adjustment as his/her sole responsibility.
    6. In a case that the VALU that is subject to the dividing is listed for the sales or purchase and the sale or purchase is not confirmed at the time of the dividing, the Company will cancel such listing for the sales or purchase at the time of the dividing in the view of protecting Users.
10. Purchasing and Selling VALU
  1. If you are authorized to issue your VALU as outlined in 9., you will immediately be able to offer it for sale through the Services, and it will become available for other Users to purchase. (The blocked User cannot purchase VALU of the blocking User.) As well as issuing new VALU, Users can also sell other User's VALU that they possess. All purchase of VALU will be performed using BTC through the online payment system. VALU cannot be purchased using credit cards, cash, or other forms of payment. After a VALU transaction has been confirmed between Users, the fees described in the table below will be charged to both the purchasing User and selling User.
    Table for Transaction Fee
    Purchase Sales
    VALU issued by the User himself/herself 1% 10%
    VALU Issued by another User 1% 1%
  2. Users who wish to sell VALU shall provide the Company or a payment service designated by the Company (hereinafter "Payment Recipient") with the right to act as a receiving proxy for the VALU purchase price. When the Payment Recipient receives the purchase price of the VALU from the User who wishes to purchase, payment of the purchase price is completed. The purchase price will be paid to the User who sold the VALU from the Payment Recipient via BTC transfer, after the Company's specified transaction fee is deducted. Any completed sales or purchase transactions of VALU cannot be cancelled once completed, regardless of the reasons.
  3. For the purpose of protecting User's interest, the Company is setting the transaction rule regarding the number of VALU per transaction, the number of transactions, scope of sales price, withdrawal of BTC in relation to sales and purchase of VALU. The Users shall comply with the transaction rule set forth by the Company. The Users shall acknowledge and agree prior to the use of the Services that the Company may change, add, and update such transaction rule at any time in the view of protecting Users.
  4. If the Company deems that there is a violation of the Terms or otherwise inappropriate actions regarding the issuance or sales/purchase of VALU, the Company may limit or revoke the issuance or sales/purchase of the VALU, invalidate any issued VALU, or take any measures set forth in Section 8. The Company shall not be held responsible for any damages incurred by Users due to any measures taken by the Company in accordance with this paragraph, unless such damage is caused intentionally by or by gross negligence of the Company.
  5. Users shall acknowledge the possibility that sales and purchase of VALU is regarded taxable by the current laws or future legislation and be fully responsible for such tax application in relation to sales and purchase of VALU. The Company is not providing a legal support including providing advice about taxation. Please consult with a professional by your own responsibility and expense if you have a tax concern.
11. Special Privileges
  1. Issuers of VALU may set special privileges including organizing fan events and sending special expressions of gratitude to VALUERS. (The Issuer is not obliged to set special privileges.) The content of special privileges can vary depending on the amount of VALU the VALUER possesses. Any legal relationship in relation to special privileges is directly established only between the Issuer and VALUER, and the Company never becomes the party of such special privilege agreement. When creating special privileges please ensure that the special privilege is feasible for the Issuer. Please be aware that as more VALU is issued, the number of VALUERS who can receive special privileges will increase, that VALUER may acquire the special privilege even when purchasing VALU from other User who already received the special privilege, and that the special privilege that is already acquired by the blocked User prior to blocking will survive after such blocking.
  2. When setting special privileges, the Issuer shall clearly state the timing of providing the special privileges within the special privilege detail and comply with such timing for providing (performing) the special privilege such as a limited event and expression of gratitude, etc. In a case that providing the special privilege is delayed or not performed due to unavoidable reasons, the Issuer shall contact and take any necessary actions for VALUERS. The Company shall not be held responsible for any delays or defaults of obligations regarding the special privilege.
  3. If personal information is required to be provided for a special privilege, the User shall, with his/her sole discretion, provide their personal information to other Users by the measure or messaging set forth by the Company. Users who received the personal information of other User(s) are responsible for managing such personal information and the Company shall not be held responsible for any damages or troubles that may result from the use or leakage of such personal information.
  4. If the Issuer is providing a physical object as a special privilege, such Issuer shall comply with all applicable laws including Act on Specified Commercial Transactions and Act Against Unjustifiable Premiums and Misleading Representations. If any of the following applies, the Issuer shall state the necessary information on his/her profile page:
    1. if the Issuer is a seller as defined in Act on Specified Commercial Transactions: notation based on Act on Specified Commercial Transactions;
    2. used item: Permit as a secondhand articles dealer; and/or
    3. alcohol: Mail Order Liquor License.
  5. The following items cannot be offered as special privileges. The Company may take any measures described in Section 8 including announcement of violation, displaying on the User's page, suspending transactions of VALU or accounts for the Services, if the Company deems that the User has or had offered the special privilege that may fall into any of the following categories:
    1. highly cashable objects or with objects with monetary rewards including cash, cryptocurrencies such as BTC, and electronic money;
    2. financial instruments including bonds, securities, insurance, etc.;
    3. promise to purchase VALU of VALUER or another Issuer;
    4. commoditized information;
    5. products related to multi-level marketing;
    6. digital contents that contain computer virus(es);
    7. contraband goods (includes but is not limited to drugs such as narcotics, weapons, or other dangerous items);
    8. products or services which may infringe upon the rights of the Company, other Users, or third parties (including but not limited to counterfeit goods, pirated goods, or fan-based derivative works);
    9. goods which have been procured through crimes such as theft;
    10. items or services which infringe on public order and morals (including but not limited to items related to adult or child pornography, obscene goods, and sexual services);
    11. items which require a license to sell by laws (including but not limited to tobacco products and pharmaceuticals) unless the Issuer has procured the required license for at their own cost and under their own responsibility;
    12. human bodies, organs, cells, blood, or any other related items;
    13. living organisms; or
    14. any other items which the Company deems to be inappropriate.
  6. The Company has no obligation to provide advice to Issuers regarding the applicable laws or the requirement/acquisition of licenses for the purpose of providing special privileges. Issuers are solely responsible for all costs and obligations related to providing special privileges.
  7. If acquiring VALU is required to be provided any products or services out of the Services, such products or services are deemed as a special privilege and the Issuer shall comply with the Terms regarding the special privilege.
11-2. Tip
  1. Users may offer tips within the limitation set forth separately in the transaction rule by the Company (hereinafter "Tip") to other Users, in a way to express the good impression toward the posting(s) by other Users on the Services. Tip cannot be sent between Users either or both of which block the other.
  2. The maximum amount of Tip to be sent to a single post is stated in the transaction rule set forth separately by the Company.
  3. The User who wishes to send Tip to another User shall pay to the Company the transaction fee calculated by the ratio and the amount of Tip that are set forth in the transaction rule by the Company.
  4. Please understand that tips that are sent to other Users and related transaction fees are not refundable, and decide to send a Tip or not within your sole responsibility and expense.
12. Disclaimer
  1. The Company only provides and operates a place for the issuance, sales, and purchase of VALU and Event Ticket by Users. The decision to purchase VALU and/or Event Ticket is the sole responsibility of each User. The Company does not provide any guarantees regarding the Issuer’s profile and explanations, or the content of special privileges and Event Ticket including its authenticity, accuracy, validity or legality. In addition, the Company does not provide any guarantees regarding providing special privileges between Users and performing the Event.
  2. The Company shall not be involved in or be held responsible for any troubles that may occur between Issuers, VALUERS, and concerned parties in relation to the sales and purchase of VALU or Event Ticket. Users are solely responsible for resolving and dealing with any issues which may arise in relation to the sales and purchase of VALU.
  3. The Company shall not be held responsible for any damages incurred by Users due to purchase or sales of VALU or Event Ticket, a failure in such transactions, the value volatility of VALU (including effects of BTC’s volatility), or the default or tort in relation to the agreement between the Users of sales and purchase of Event Ticket or of performing the Event, unless such damages are caused intentionally by or by gross negligence of the Company.
  4. Users understand that Users may be taxed for the use of the Services (including the case that future legislation will apply), and shall comply with all applicable laws when using the Services. Users are solely responsible for checking the possibility of taxation by their own, and the Company shall not be held responsible for any matters in relation to the taxation to the Users.
  5. The Company takes no responsibility for any damages which may occur to Users arising from the Services, unless the agreement related to the Services between the Company and the User (including the Terms) is defined as a consumer contract under the Consumer Contract Act.
  6. Notwithstanding the foregoing paragraph, in any cases the Company is not responsible for damages incurred by the Users due to special circumstances (includes cases in which the Company or the User foresaw or could have foreseen such damages). In addition, compensation for damages to Users caused by the Company's negligence (not including gross negligence) or tort shall not exceed the total amount of payment for issuance of VALU or other transactions that is actually received by the Company from the damaged User within the period of 1 month prior to happening of the cause of such damages.
13. Suspension or Interruption of The Services
  1. The Company may suspend or interrupt all or a part of the Services for any of the reasons outlined below without providing prior notification to Users. The Company will not be held responsible for any damages incurred by Users due to such suspension or interruption of the Services.
    1. If the operation of the Services becomes not feasible due to failure or malfunctions of servers, transmission lines, or other equipments or any other causes.
    2. Periodic or emergency maintenance, inspections, repairs or changes to systems (includes servers, transmission lines and electricity supplies, and the buildings containing them).
    3. Fire or power outages, etc.
    4. Natural disasters such as earthquakes, volcanic eruptions, floods, or tsunami, etc.
    5. War, uprisings, riots, disturbances, labor disputes, or other occurrences of force majeure.
    6. legal proceedings or other measures based upon any applicable laws.
    7. If any troubles, service suspension, interruption, suspending connection to the Services, or change of specification occurs to external social networking services linked to the Services.
    8. Any other operational or technical reasons that the Company deems require a temporary interruption of the Services.
14. Changes to the Services and the Terms
  1. The Company may make a change, adding, or abandonment (hereinafter "Change, Etc.") of the content of the Services and the Terms at any time. If such Changes, Etc. to the Services or the Terms significantly affects the Users, the content of such Changes, Etc. will be posted on the Company's website, and the Users are responsible for checking the Changes, Etc. If the User uses the Services after the Changes, Etc. to the Services and/or the Terms, such Users are deemed to have checked and agreed on the Changes, Etc.
  2. The Company shall not be held responsible for any damages incurred by the Users due to any measures taken by the Company in accordance with this Section, unless such damages are caused intentionally by or by gross negligence of the Company.
15. Intellectual Property Rights
  1. The copyrights (including rights defined in article 27 and 28 of the Copyright Law, the same applies below), patent rights, utility model rights, trademark rights, design rights, and all other intellectual property rights (including the right to acquire those rights or rights to register those rights) regarding the contents on the Services belong to the Company or third parties with which the Company has been licensed by. Users may not use, disclose, or let someone use such contents, unless Users have acquired permission from the Company and the third parties with which the Company has been licensed by, or used the content within the scope of personal use as defined by Copyright Law.
  2. All photos, information, etc. posted by Users on the Services may be used by the Company for the purpose of advertising and/or operating the Services.
  3. Users are solely responsible for any communications or postings of contents in relation to the Services. The Company does not verify, warrant, nor represent quality, authenticity, accuracy, validity, or legality of such communications or postings, or whether they infringe upon the rights of third parties, and the Company shall not be held responsible for any consequences in relation to such communications or postings.
  4. Users are solely responsible for determining the quality, authenticity, accuracy, validity, or legality, etc. of any communications or postings by other Users. Users shall not take any actions that infringe or may infringe upon the copyright or any other rights of such contents. The Company shall not be held responsible for any damages that may arise from the use of the Company's contents by Users or third parties.
  5. If the Company deems that the Users has violated the Terms, or have taken actions inappropriate in light of the Terms, the Company may change or delete any contents posted by such User with no prior notification.
16. General Provisions
  1. All notifications and communication from the Company to the Users will be provided in a suitable location within the website or application operated by the company, or by any other ways as deemed suitable by the Company. If the Company deems it necessary to notify or contact individual Users, the Company may do so by using the email address, residential address or telephone number that are provided for the User Registration. The Company shall not be held responsible for any damages which may arise from non-delivery or delays of the Company's notifications or communications.
  2. In a case that any of the provisions or sections of the Terms are found to be invalid or unenforceable by the Consumer Contract Act or any other applicable laws and ordinances, the remaining sections of the Terms shall remain fully valid and effective, and the Company and the Users shall modify and interpret such invalid or unenforceable part of the Terms in order to retain the effectiveness financially and legal equivalent to the whole Terms.
  3. Users shall follow the Company's instructions in a a case that there happens to be matters not stipulated in, or any questions regarding the interpretation of the Terms. If such actions do not resolve the situation, the Company and the User shall make their efforts to consult with each other in a good faith and promptly resolve the situation.
17. Damages and Claims
  1. In a case that the User violates the Terms or any other guidelines and the damages are incurred by the Company or a third party, the Users shall compensate such damages.
  2. The Users are solely responsible for any matters in relation to the transactions between Users (including but not limited to sales and purchase of VALU and setting and provisions of privileges). The Company, in principle, will not be involved in any troubles between Users. The Company is not obliged to be involved in any troubles between Users and the Users shall not request the Company for any actions in order to resolve such troubles. However, the Company may, with its full discretion, intervene in the troubles between Users if the Company deems it necessary for the smooth operation of the Services.
  3. The Company does not provide any third parties (including other Users) with personal information acquired in accordance with the Terms and its privacy policy, unless otherwise stated. However, the Company may disclose such personal information to third party to the extent necessary in order to comply with the legal obligation if such disclosure is based on the enforceable laws or orders including order by the court, prosecutor’s office, or any administrative bodies, and the request for information in accordance with any applicable laws including Article 23-2 of Attorney Act.
18. Governing Law and Jurisdiction
  1. The Terms shall be interpreted and construed by the laws of Japan, regardless the conflicts of laws principles. Any disputes arising out of or in relation to the Services or between the Company and the User shall be subject to the exclusive jurisdiction in the first instance of Tokyo District Court of Japan.
CHAPTER II Event and Event Tickets 19. Event Ticket
  1. The Issuer(s) may issue and sell the tickets for the event organized by the Issuer (the “Event Ticket”) to its VALUERs who hold a certain number of MY VALU designated by the Issuer, in accordance with this Terms. The Issuer who organizes the event is referred as “Event Organizer”.
  2. The Issuer who has not finished identity verification may not issue Event Ticket as Event Organizer.
  3. The Event Ticket shall be valid for 3 months or less since its issuance. The Issuer may issue the Event Tickets only for the event within 3 months since the issuance.
  4. The event for the Event Ticket shall be limited to the event in Japan whose participants resides in Japan.
  5. In a case that the VALUER who purchased the Event Tickets withdraw from the membership of the Services before the event, such Event Tickets shall become invalid. Also the VALUER may not use the Event Tickets if the VALUER is taken actions including suspension of the membership and the Company shall not be held responsible for such consequences including refund of the Event Tickets.
  6. Contractual relationship for sales and purchase of the Event Tickets and the service of organizing the Event solely exists between the Event Organizer and the VALUER, and the Company is not a party of such relationship. The Company, as a platformer, provides a platform for sales and purchase of the Event Tickets on the Services, and make an agency payment by the Company or subcontracted agency. Unless otherwise clearly stated in the Terms, any disputes in relation to purchase of the Event Ticket and/or organizing the event shall be settled between the Event Organizer and the VALUER at their own costs and responsibility.
20. Event Registration
  1. The Issue who wishes to sell the Event Ticket shall apply with the information of the planned event including the below items in accordance with our designated process, and obtain approval from the Company.
    1. Name of the Event
    2. Content of the Event
    3. Date, time, and place of the Event
    4. Payment method (BTC or credit card)
    5. The number of total Event Tickets
    6. The number of Event Tickets that each VALUER may purchase
    7. The number of MY VALU per VALUER in order to purchase the Event Ticket
    8. The price per Event Ticket (with tax)
    9. The preferred date of starting sales of the Event Ticket
    10. The end time to purchase the Event Ticket
    11. The date of the event that shall be within 90 days since the application of the event registration
  2. In a case of the first event registration for the Event Organizer and the payment for the Evet Ticket will be made by credit card, such Event Organizer shall, In addition to the items listed in 20.1., register the financial account information that will be necessary to receive payment of the Event Ticket revenue (bank, branch, account type, account number, account name, etc.) in accordance with the Company’s instruction. Such registered information will be used for the second or later sales of the Event Tickets. Event Organizer shall notify the company of any change on the registered financial account information in accordance with the Company’s instruction. The Company shall not be held responsible for any damages incurred by the Event Organizer who did not promptly or properly notify the Company of such change.
  3. In a case that any of the financial account information above is incorrect, the Company shall not be held responsible for the damages incurred by the Event Organizer in relation to the troubles including delay of payment from the Company to the Event Organizer and no payment from the VALUER who participates the Event. Also, the Event Organizer shall be fully responsible for any damages incurred by the Company or the third party in relation to such troubles.
  4. The Event Organizer shall not register the Event that the Company deems possibly falling into one of the below categories that;
    1. violates laws and regulations and/or the Terms;
    2. aims solicitation of a certain idea, religion, or organization;
    3. is against public policy (e.g., meeting up for sexual relationship);
    4. the registered information of the Event contains any illegal, false, or incorrect, information;
    5. deals with the securities including gift certificate, documentary stamp, postal stamp, coupon tickets, and prepaid card;
    6. deals with the products without any shipment, such as downloading of the software;
    7. relates to any of the criminal behaviors including fraud, abuse of controlled substances, prostitution, money laundering;
    8. relates to multi-level marketing or commoditized information;
    9. includes the solicitation of using any other services than the Services;
    10. the Company deems it inappropriate in terms of the Services’ intent and/or purpose;
    11. includes the solicitation of using any other services than the Services by introducing campaigns or other means; or
    12. the Company deems it possibly falling into any of the above categories.
  5. The Company will, by its sole discretion, review the applied information and notify the Event Organizer of the result within 5 business days since the Event Organizer completes the application of the Event. The reasons for not approving the application of the Event includes:
    1. lacking any required information; or
    2. falling into any of the categories listed in 20.4.
  6. The Company does not warrant or represent that the Issuer may register the Event or that the Event Organizer holds the Event. Whether to approve the Event or not solely depends on the Company’s discretion in accordance with this Terms and the Company shall not be held responsible for the result of its review.
21. Release and Management of Event Information
  1. In a case that the applied Event is approved, information of such Event will be released on the Services and the Event Organizer may issue the Event Tickets in accordance with this Terms.
  2. Event Organizer may assign another User to manage the information of the registered Event. Such User is called “Sub-Organizer.”
  3. Event Organizer and Sub-Organizer shall not include any items listed on 20.4. in the information of the Event. Also, they shall comply with any applicable laws and regulations including Act on Specified Commercial Transactions and Act against Unjustifiable Premiums and Misleading Representations in terms of managing information of the Event and organizing the Event.
  4. Event Organizer and Sub-Organizer shall responsibly deal with any inquiries about the Event. The Company is not responsible for dealing with those inquiries.
  5. The Company is not obliged to provide any advice on legality, permission, or compliance of the Event to the Event Organizer or Sub-Organizer.
22. Purchase of Event Ticket
  1. VALUER who wished to purchase the Event Ticket (if the amount of the MY VALU meets the required amount for the Event) shall order the purchase on the Services in accordance with the Company’s instruction and, at the time of completing such order, the sale and purchase agreement between Event Organizer and the VALUER shall become effective.
  2. The Company will notify the Event Organizer of User ID, name on the Services, purchasing amount and date of the purchasing VALUER. Also, there is a case that the Company disclosed such information due to reasons that the Company deems necessary, such as requests from governmental authorities, financial institutions, bar associations, etc.
  3. In a case that the registered end time of selling the Event Ticket has passed, the Company may case the sales of the Event Ticket without prior notice.
  4. Purchase of the Event Ticket can be made only by the payment method designated by the Event Organizer that is BTC online payment system or a credit card. The Company will take a fee below per sales and purchase of the Event Ticket:

    [Credit Card (JPY)]

    10% of the price of Event Ticket
    + 80JPY per Event Ticket (except a case that the Event Ticket is sold for free)
    + transmission fee 258JPY (including tax)

    [BTC online payment]

    8% of the price of Event Ticket

  5. The Event Organizer shall assign the payment processing vendor designated by the Company (“Payment Vendor”) to receive the payment for the Event Ticket on behalf of the Event Organizer, and the payment shall be deemed effective and complete when the Payment Vendor receives payment from VALUER who wishes to purchase the Event Ticket.
  6. Payment for the Event Ticket will be transmitted to the Event Organizer approximately 1 week after the Event, after deducting the fee mentioned in 22.4. by the corresponding method of payment that the Event Organizer chooses. A transmission fee shall be owed by the Event Organizer.
  7. Event Organizer agrees in advance that in a case that the amount of payment that should be made after deducting the all relevant fee is not more than 0, Event Organizer waives the right of receiving such remaining amount of payment.
  8. Once it becomes effective, any sales or purchase of the Event Ticket cannot be cancelled regardless of the reasons. Any disputes arising in relation to the sales and purchase of the Event Ticket shall be resolved between the Event Organizer and VALUER.
  9. Notwithstanding the foregoing, in a case that the Company deems it necessary for the protection of the consumers or that this Terms clearly state so, the Company can return the payment for the Event Ticket at its sole discretion only if the payment to the Event Organizer under 22.5. has not completed. The Company is not obliged to take such action unless it is clearly stated in this Terms.
  10. The VALUER who purchased the Event Ticket cannot assign, transfer, put in a mortgage such Event Ticket, regardless with the payment or for free.
  11. The VALUER who is blocked by the Event Organizer cannot purchase the Event Ticket sold by such Event Organizer.
23. Use of Event Ticket
  1. The Event Ticket can be used per the Company’s instruction.
  2. The Event Ticket shall not be used in any other ways than the Company’s instruction.
  3. In a case that the Event allows a purchase of multiple Event Tickets, anyone can participate such Event as accompanied participant(s) with VALUER within the number of the purchased Event Tickets.
  4. We hope our Users to organize the Event safely and smoothly. If you are blocked by the Event Organizer, we sincerely recommend to refrain from participating the Event of such Event Organizer as a accompanied participants.
24. Cancellation and no-holding of Event
  1. Once registered, the Event Organizer cannot cancel the Event and the Company will not return the payment for the Event Ticket(s).
  2. Notwithstanding the foregoing, the Company will return the payment for the Event Tickets in accordance with the process separately set forth by the Company, if;
    1. the Event Organizer applies for the cancellation of the Event in accordance with the process set by the Company by 1 day before the Event; or
    2. the VALUER who purchased the Event Ticket reports the Company within 5 days since the date of the Event that the Event was not held, and the Company reasonably confirm such no-holding.
  3. The Event Organizer shall compensate the Company for the loss and transmission cost incurred in relation to the return of the payment in 24.2., by payment the amount equivalent to 5% of the price of the sold Event Tickets. The Company may claim more damages if any.
  4. The Event Organizer agrees in advance that the Company can offset the above damages with the BTC that the Company holds for the Event Organizer. The rate for such offset shall be the rate that the Company deems it reasonable at the time of the offset.
  5. The Company can inquire the Event Organizer and the Sub-Organizer about the date, place, attendance, etc. of the Event as a result. When inquired, the Event Organizer and the Sub-Organizer shall promptly response to such inquiries and submit the evidence of holding the Event including the Event photos if requested. If no response is provided by the Event Organizer and the Sub-Organizer within the reasonable period, the Company can deem at its sole discretion that the Event was not held.
Updates

Created: May 1, 2017
Updated: Aug 2, 2017
Updated: Feb 16, 2018
Updated: March 20, 2018
Updated: May 31, 2018
Updated: Nov 8, 2018
Updated: May 30, 2019