STUDIO ALICE Co., Ltd. is a Japan-based company mainly engaged in the photograph business. The Company operates in two business segments. The Photograph business segment is engaged in the shooting, production and processing of studio photos, and the production and printing of displays. The Dresses Production Wholesale business segment is engaged in the production and sales of dresses and clothes for photo shooting. As of December 31, 2014, the Company had five subsidiaries, two associated companies and one affiliated company.