Nariesei African Foods, Aiming for No. 1 African Fast Food Chain with Japan's QSCA, Raises 32 Million JPY in Seed Funding in Africa; Promotes Multi-Store Expansion and Central Kitchen Development

## Press Release Information
Title: In Africa, Nariesei African Foods, aiming to be the No. 1 African fast food chain with Japan's proud QSCA in the restaurant industry, raises 32 million JPY in seed funding. Promoting the establishment of a multi-store expansion system and central kitchen development.
Subtitle:
Company Name: Nariesei African Foods Co., Ltd.
Industry: Food Service

## Body
Nariesei African Foods Co., Ltd. (Representative Director: Jumpei Kihara; hereinafter, "the Company"), which operates the Ghanaian fast-food chain "KOFIRICE" based in Accra, Republic of Ghana, with the vision of "delivering happiness and excitement through food throughout Africa," has successfully raised a total of 32 million JPY in a seed round from TRUST SMITH & CAPITAL and F Ventures.
The funds raised will be allocated to establishing a multi-store expansion system within Ghana and developing central kitchen functions.

## Overview of Funding
- Round: Seed Round
- Total Funding: 32 million JPY
- Investors
- TRUST SMITH & CAPITAL (Representative Partner: Shoma Ando)
- F Ventures (Representative Partner: Shota Morokaku / Principal: Sogo Ito)
- Funding Method: Third-party allotment of shares

## Business Overview / Market Background
### 2050: 2.5 Billion People, The Largest Growth Market in Human History
Africa is projected to become the largest growth market in human history, with approximately 2.5 billion people, accounting for about a quarter of the world's population by 2050. According to UN population estimates, more than half of the net increase in the world's population by 2050 is expected to come from the African continent.

### Dining Out is Shifting from "Luxury" to "Life Infrastructure" - Structural Changes in Demand
Furthermore, it is noteworthy that dining out is rapidly becoming a necessity in Ghana.
Ghana's urban population ratio has reached approximately 60%, and the shift to an urban lifestyle, characterized by longer working hours, increased commuting times, dual-income households, and nuclear families, is rapidly compressing time for home cooking.
In addition,
- It is difficult to store ingredients for long periods or prepare meals in advance due to the hot and humid climate.
- Japan's bento culture has not taken root.
- Ghanaian dishes, including Jollof Rice, require long cooking times.
- The culture of men cooking at home is not widespread.
These structural factors combined are changing the positioning of dining out from a "luxury" for some segments to "life infrastructure" for urban dwellers.

### Supply Gap - African Cuisine Fast Food Chains are in Their Dawn
On the other hand, fast-food chains specializing in African cuisine do exist locally, but they face challenges such as unstable taste, product appeal, brand value, and inconvenient pricing for everyday use.
In Japan, this situation is comparable to the dawn of the gyudon (beef bowl) market before the emergence of "Sukiya" and "Yoshinoya," where the rapid expansion of demand is not being met by the quality of supply.

### Japan's QSCA × Small Store Model
Our company aims to export Japan's QSCA (Quality / Service / Cleanliness / Atmosphere), which the Japanese restaurant industry has refined to a world-class level, to Africa. Simultaneously, we will develop a compact store model for African fast-food chains, modeled after Japan's "Sukiya" and "CoCo Ichibanya."
By utilizing small tenants, rent burden can be suppressed to about 1/10 of conventional chain restaurants.
We aim to achieve high operating profit margins while lowering the average customer spend to a level that is routinely affordable for locals.
Our main brand "KOFIRICE" focuses on Jollof Rice and Fried Rice, which are national dishes of Ghana. While preserving the DNA of familiar local flavors, we will modernize cooking operations, branding, and in-store experience.
With a high-speed, takeout-focused operation, we aim to achieve both a pricing strategy that targets the largest segment of daily demand in Ghana and a world-class QSR experience.
The first store opened in Accra in August 2025. Despite a poor location behind a slum, it achieved profitability from its opening month. We plan to expand to a total of 5 stores within fiscal year 2026, fully accelerating multi-store development in Ghana.

## Future Outlook
### 400 Stores in Ghana in 10 Years, Then Across Africa
In 10 years, we will establish a system of 400 stores in Ghana, building an overwhelming presence as an African cuisine fast-food chain. Subsequently, we will expand across Africa, realizing Africa's No. 1 restaurant chain for African food. We aim to grow into a globally competitive restaurant brand originating from Japan and Africa.

### Creating Employment in Africa and Boosting Local Economies
Through the creation of local employment and the expansion of transactions with local suppliers, we will contribute to the employment and economic development of Ghana and other African countries. The raised funds will be invested in local business operations, human resource development, and supply chain establishment, building a business foundation rooted in the African market.

## Comment from Representative Director Jumpei Kihara
I will never forget the faces of my Ghanaian friends who had never eaten authentic fast food before, the moment they tasted it for the first time in their lives. In Ghana, where entertainment is scarce, the happiness of food is an essential part of life.