Villain Behind Glasses.Maryelle and Henrietta meet with Karashin—master of the Shopping Street 8 guild to discuss a trade agreement for the second stage of Shiroe's plan. Karashin tries being coy in his attempt to establish an exclusive deal with the Crescent Moon Alliance's food business. Having already anticipated this, Shiroe has Maryelle and Henrietta introduce their intention of bringing in the masters of the other business venturing guilds—Michitaka and Roderic of the Marine Agency and Roderic Merchant Guild respectively. This forces Karashin to hurriedly accept the Alliance's proposition at a severely reduced price. Meanwhile, Minori laments all of the struggles she and Tohya faced when they became trapped within Elder Tales and that they didn't heed Shiroe's advice before it was too late, thus making them unworthy of his rescue. Back at the meeting, Shiroe has Henrietta bait the three guild masters into investing the remaining amount of gold under their pretense of an extremely profitable quest led by non other than the "Villain in Glasses" himself—Shiroe. Afterwards, Tohya relates similar feelings of undeserved rescue to Minori before the Crescent Moon Alliance and Log Horizon issue invitations to Akihabara's largest guilds for a conference to discuss the city's future.