JR Shikoku Relationship Fund

― Operated by Japan Private Equity Co., Ltd., capital alliance with a fund wholly owned by JR Shikoku

― Forming an alliance in Shikoku's sweets industry through "J Marche," acquiring shares

― Aiming for further growth through business collaboration with JR Shikoku and transition to organizational management

― JPE's 39th investment

Japan Private Equity Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director: Shinichi Hota; hereinafter "JPE") has entered into a capital alliance through the "JR Shikoku Relationship No. 1 Investment Business Limited Partnership" (hereinafter "Shikoku Relationship Fund"), a fund wholly owned by Shikoku Railway Company, Ltd. (Headquarters: Takamatsu City, Kagawa Prefecture; President and Representative Director: Kazuyuki Shinomiya; hereinafter "JR Shikoku"), with Yumekobo Takara Co., Ltd. (Headquarters: Takamatsu City, Kagawa Prefecture; Representative Director: Koji Hamada; hereinafter "Takara").

Takara has continued to create innovative confections that offer new surprises while cherishing the tradition of Japanese sweets for 90 years since its founding in 1936 as "Takara Manju." Its signature products include "Takara's Ichigo Daifuku," along with fruit daifuku featuring seasonal ingredients and "Kuri Mikasa" from its founding days.

Takara, based on its unwavering "heart" to make customers smile since its establishment, has chosen the Shikoku Relationship Fund as its "capital and management partner" to ensure it remains a "Japanese confectionery shop loved by customers" in the future. The fund guarantees neutrality, independence, and regionality.

In the future, through collaboration with the JR Shikoku Group, new opportunities will be jointly created for challenging new sales channels, store development, collaborative product development, and new business formats. Furthermore, by sharing and effectively utilizing tangible and intangible management resources such as locations (station buildings, hotels, event spaces), customers (passengers, hotel guests, etc.), human resources, sales floors, logistics, and inventory management, the aim is to create synergistic effects in business and management.

Takara's management will continue to be led by current President Koji Hamada as Representative Director. JPE will participate in management as an "応援団 (cheering squad)" external director, jointly realizing further growth and reliably passing on the important business to the next generation.

This marks JPE's 39th investment in Yumekobo Takara.

Under this capital alliance, "J Marche Co., Ltd." (hereinafter "J Marche"), a holding company established by the "Shikoku Relationship Fund" operated by JPE as a 100% shareholder, will become the new shareholder of Takara.

J Marche plans to invest in and acquire shares of small and medium-sized enterprises and small-scale enterprises in Shikoku's sweets industry, including Western confections, Japanese confections, famous confections, souvenir confections, and regional confections, as well as related companies involved in the production and distribution of sweets ingredients. By building capital connections through J Marche, it will also create business synergies.

JPE, through the "Shikoku Relationship Fund," will continue to invest in SMEs in Shikoku that "wish to balance business succession with growth" or "develop businesses that contribute to the development of the Shikoku economy, society, and culture through collaboration with JR Shikoku." By growing together locally, it aims to promote the vitalization of regions, industries, and human resources, create a "virtuous cycle of growth" in the local area through the fund, and fulfill its "regional significance" through coexistence and co-prosperity.

(Renewal OPEN: JR Takamatsu Orne Store on February 27, 2026)

■ Company Overviews (in no particular order) *As of March 31, 2026

□ Yumekobo Takara Co., Ltd. https://e-takara.jp/

・Headquarters Location: 214 Kasuga-cho, Takamatsu City, Kagawa Prefecture

・Established: March 6, 1985 (Founded: 1936)

・Representative: Koji Hamada, Representative Director

・Capital: 10 million JPY

・Number of Employees: 82 (As of December 2025, including part-time staff)

・Business Description: Manufacturing and retail of Japanese and Western confections, including over 40 types of fruit daifuku, such as "Ichigo Daifuku"; operates the main store and Orne store.

□ JR Shikoku Relationship No. 1 Investment Business Limited Partnership https://jr-shikoku-fund.jp/

・Partnership Name: JR Shikoku Relationship No. 1 Investment Business Limited Partnership

・Established: October 3, 2023

・Fund Size: 2 billion JPY

・Investment Targets: