Ceres Concludes Shareholder Agreement with Mandom, Continuing and Promoting Joint Development Relationship with Mandom and SQUIZ

Ceres Co., Ltd. (Headquarters: Shibuya-ku, Tokyo; Representative Director and President: Satoshi Toki; Securities Code: 3696; hereinafter "Ceres") announces that it has acquired shares in SQUIZ Co., Ltd. (Headquarters: Shibuya-ku, Tokyo; Representative Director: Tomoaki Hirano; hereinafter "SQUIZ"), making it a consolidated subsidiary. Following this, Ceres has concluded a shareholder agreement with Mandom Corporation (Headquarters: Osaka City; Representative Director, President and Executive Officer: Ken Nishimura; Securities Code: 4917; hereinafter "Mandom"), an existing shareholder. This will maintain and promote the joint development relationship that Mandom and SQUIZ have been pursuing, accelerating efforts to achieve consumer well-being.

Ceres' vision is to "realize a prosperous world through internet marketing," and it operates Japan's largest point site "Moppy" and the affiliate program "AD.TRACK," as well as a mobile services business centered on D2C (Direct to Consumer) business. In its Mid-Term Management Plan 2030 (a five-year plan) formulated in February 2026, Ceres has set the aggressive expansion of its D2C business, including SKU expansion through M&A, as a key growth strategy.

On the other hand, SQUIZ has a mission to "create a world where mental and physical worries do not limit life's possibilities." It is a startup company whose main business is the "Oops" series of online medical consultation services, which address various areas such as AGA (Androgenetic Alopecia), ED, gynecology, and mental health. It boasts a platform with over 100,000 members*1, and its strengths include highly original creative content and a user base largely composed of young people. The company entered into a capital and business alliance with Mandom on March 31, 2025, and has been promoting joint development between the two companies based on the shared desire to "support living life in one's own way."

Ceres recognizes that this collaborative relationship constitutes an important element of SQUIZ's business value. Therefore, by acquiring shares in SQUIZ and making it a consolidated subsidiary, and by concluding a shareholder agreement with Mandom, Ceres has confirmed the continuation of the joint development relationship that has been ongoing.

Through the conclusion of this shareholder agreement, Ceres will ensure the continuation and development of the joint development relationship between Mandom and SQUIZ among the shareholders. Furthermore, Ceres will support SQUIZ's business growth by leveraging Mandom's beauty and healthcare R&D capabilities and brand power, SQUIZ's online medical consultation platform, and Ceres' know-how in mobile services and internet marketing, as well as its consumer base through the point site "Moppy."

*1: As of March 2026, according to SQUIZ research

Mandom's corporate slogan is "BE ANYTHING, BE EVERYTHING." It considers its contribution to be the realization of consumer well-being and the balancing of daily life enrichment with the resolution of social issues. In its 14th Mid-Term Management Plan towards its 100th anniversary in 2027, Mandom advocates for "practicing new contributions through value co-creation based on consumer-driven approaches," promoting open innovation and new value creation through collaboration with external companies. On the other hand, SQUIZ, through its online medical consultation brand "Oops," provides online consultation and prescription services to consumers facing mental and physical concerns.