Regarding LP Investment in Polaris Fund VI L.P.

Japan Investment Corporation (Headquarters: Minato-ku, Tokyo; Representative Director and CEO: Keisuke Yokoo; hereinafter "JIC") announced today its decision to make an LP investment of 12 billion yen in Polaris Fund VI L.P. (hereinafter "Polaris Fund VI"), managed by Polaris Capital Group Co., Ltd. (hereinafter "Polaris"). The details are as follows: (1) About Polaris Fund VI As a Japanese buyout fund management company, Polaris has handled carve-outs, privatizations, and business successions across a wide range of industries. It also has a track record of investments in projects that contribute to the strengthening of industrial competitiveness through carve-outs leading to industry restructuring and medium- to long-term growth investments, gradually expanding its fund size. Based on this track record, Polaris Fund VI plans to push forward with investments in large-scale projects more than ever before, targeting industries such as technology/manufacturing, medical/healthcare/welfare, IT/services/logistics, and consumer goods/retail. Name: Polaris Fund VI L.P. Establishment: August 2024 Term: 10 years (with two 1-year extension options) GP: Polaris Capital Group Co., Ltd. Name: Polaris Capital Group Co., Ltd. Establishment: September 2004 Location: Chiyoda-ku, Tokyo Representative: Yuji Kimura, President and CEO (2) Significance of the Investment Challenges in the Domestic Market: - Promoting business restructuring in response to changes in the market and business environment: To maintain and expand competitiveness, domestic companies must respond to significant changes in the market and business environment caused by resource/energy constraints, social issues, supply chain reviews, technological innovations, etc., through business restructuring and rejuvenation. - Shortage of players capable of handling large-scale deals: While there are many buyout funds targeting Japanese companies, there are currently still few funds, including foreign-affiliated ones, capable of investing in large-scale deals with an enterprise value of around 100 billion yen. Expected Effects of this Investment: - Strengthening the competitiveness of the entire industry through business restructuring and growth investments: By leveraging Polaris's knowledge and know-how regarding carve-outs and medium- to long-term growth investments, it will promote investment activities that lead to strengthening the competitiveness of the entire industry through business restructuring and growth investments of portfolio companies. - Increasing the number of players capable of handling large-scale deals: By investing in Polaris Fund VI, managed by a team fully capable of handling large-scale deals, JIC will support the formation of a fund on the scale of 200 billion yen, which is expected to lead to an increase in players capable of investing in large-scale deals. About Japan Investment Corporation (JIC) JIC is an investment company established in September 2018 based on the Industrial Competitiveness Enhancement Act. JIC focuses its investments on creating a virtuous cycle of domestic investment and innovation, creating and nurturing startups, utilizing dormant management resources in regional areas by university-launched startups and mid-tier companies, and promoting business restructuring in response to changes in the market and business environment. By supplying risk money to these areas through LP investments in its umbrella funds and private funds, JIC aims to promote open innovation in Japan and contribute to strengthening the competitiveness of Japanese industries and expanding the investment ecosystem.