New York and Tokyo, Japan, April 1, 2024 – Pixie Dust Technologies, Inc. (Nasdaq: PXDT) (the "Company"), a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave control technology, announced its "kikippa" speaker was awarded 1st place on the Rakuten Sound Bar Ranking in February 2024.

"kikippa" is a speaker that processes and outputs "gamma wave sound" with 40Hz modulation using a unique algorithm for audio from TVs and other devices. The device requires no construction or intricate setup, as anyone can effortlessly operate it by connecting the earphone jack and activating the gamma wave sound button, immediately immersing in the natural 40Hz modulated gamma wave sound. There is currently a diverse array of distribution of the "kikippa" speaker, ranging from major ecommerce platforms such as Rakuten Group ("Rakuten") and Amazon, in addition to Shionogi Healthcare Online, BicCamera.com, Kojimanet, and Sofmap.com. The Company continues to expand its go to market channels to ensure users can purchase the speaker seamlessly both domestically and internationally.

More specifically, Rakuten, a Japanese technology conglomerate with immense popularity and recognition within Japan, holds a significant position in the country's technology and consumer landscape. With over 70 businesses under its umbrella, Rakuten spans a wide array of online and offline services including its prominent e-commerce website. Achieving top-ranking status on the Rakuten website is a feature highly coveted by companies seeking extensive exposure and traffic for their products. This prime position on the website not only enhances Pixie Dust's corporate profile and the "kikippa" speaker's visibility but also underscores its role in shaping consumer trends and preferences across Japan.

"I am pleased to announce that our kikippa speaker has achieved the top position on the Rakuten Sound Bar Ranking," said Pixie Dust Technologies COO Taiichiro Murakami. "This recognition holds special significance as the Rakuten e-commerce platform is widely utilized across Japan and stands as one of the largest online marketplaces in the country. Securing the top rank on such a prominent platform is an honor and serves as a testament to the growing market acceptance and popularity that kikippa is receiving. Each of our products are gaining significant traction within Japan, with some gradually making their mark overseas into the U.S. markets. As we intensify our marketing efforts and persist in product innovation, we aim to implement strategies for the seamless social integration of gamma wave sound and wave technology to unlock the inherent benefits to society."

Forward-Looking Statements

Certain statements contained in this press release are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "aim," "objective," "goal," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Any such forward-looking statements are subject to various risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, including but not limited to the strength of the economy, changes to the market for securities, the effects of inflation and its associated impact on prevailing interest rates, political or financial instability, and other factors which are set forth in the Company's prospectus that forms a part of the Registration Statement on Form F-1 (File No. 333-272476), as amended, and in all filings with the SEC made by the Company subsequent to the filing thereof. The forward-looking statements included in this press release represent the Company's views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

About Pixie Dust Technologies, Inc.

Pixie Dust Technologies, Inc. is a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave technology. The Company is currently focusing on two areas of product development: (1) "Personal Care & Diversity", where wave control technology is applied to mechanobiology and intervention/assistance in vision, hearing, and touch, and (2) "Workspace & Digital Transformation," where metamaterials (technology that creates properties through structure rather than material) and solutions to commercial design problems, such as in offices or construction sites, are applied.

Pixie Dust Technologies Investor Relations Contact:

Email: PXDT_IR@pixiedusttech.com

Gateway Group, Inc.
John Yi and Steven Shinmachi
Email: pixie@gateway-grp.com
949-574-3860