Ceres Concludes Shareholder Agreement with Mandom to Continue and Promote Joint Development Relationship with SQUIZ

Ceres Inc. (Headquarters: Shibuya-ku, Tokyo; Representative Director and President: Satoshi Toki; Securities Code: 3696; hereinafter "Ceres") announces that it has entered into a shareholder agreement with its existing shareholder, Mandom Corporation (Headquarters: Osaka; Representative Director, President and Executive Officer: Ken Nishimura; Securities Code: 4917; hereinafter "Mandom"), following Ceres' acquisition of shares in SQUIZ Inc. (Headquarters: Shibuya-ku, Tokyo; Representative Director: Tomoaki Hirano; hereinafter "SQUIZ") and making it a consolidated subsidiary. This agreement will allow Mandom and SQUIZ to continue and promote their joint development relationship, accelerating initiatives aimed at realizing consumer well-being.

Ceres operates a mobile services business centered on D2C (Direct to Consumer) operations, including "Moopy," one of Japan's largest point sites, and the affiliate program "AD.TRACK," under the vision of "realizing a rich world through internet marketing." In its Mid-Term Management Plan 2030 (a five-year plan) formulated in February 2026, Ceres has positioned aggressive expansion of its D2C business, including SKU enhancement through M&A, as a key growth strategy.

SQUIZ, on the other hand, is a startup company with the mission of "creating a world where mental and physical worries do not limit life's possibilities." Its main offering is the "Oops" series of online medical consultation services, which addresses various areas such as AGA (Androgenetic Alopecia), ED, gynecology, and mental health. The company boasts a platform with over 100,000 members*1, and its strengths include highly unique creative content and a user base largely composed of younger demographics. SQUIZ 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 their shared desire to "support people in living their authentic selves."

Ceres recognizes that this collaborative relationship is a crucial component of SQUIZ's business value. Therefore, by acquiring SQUIZ shares and making it a consolidated subsidiary, and by entering into a shareholder agreement with Mandom, Ceres has confirmed with the shareholders the continuation of the joint development relationship that has been underway.

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' expertise in mobile services and internet marketing, as well as its consumer base through the "Moppy" point site.

*1: As of March 2026, according to SQUIZ Inc.

＜About the Joint Development between Mandom and SQUIZ＞

Mandom, under its corporate slogan "BE ANYTHING, BE EVERYTHING.", considers its contribution to society as realizing consumer well-being and balancing the richness of daily life with the resolution of social issues. In its 14th Mid-Term Management Plan, leading up to its 100th anniversary in 2027, Mandom has set forth "Practicing new contributions through value co-creation based on consumer-centric approaches" and is promoting open innovation and new value creation through collaborations with external companies. SQUIZ, on the other hand, provides online medical consultation and prescription services to consumers facing mental and physical concerns through its online medical consultation brand "Oops."

Mandom and SQUIZ share a common desire to "support people in living their authentic selves" and aim to create a society where individuals can express themselves more freely. They are advancing joint development with the following objectives:

① Joint product development and enhancement in the cosmetics domain

② Strengthening new business collaboration related to wellness

By integrating SQUIZ's unique strengths in online medical consultation and digital healthcare with Mandom's brand power, R&D capabilities, and business foundation, the companies aim to provide better products and services to consumers.

Mandom Corporation Overview

Company Name: Mandom Corporation

Representative: Ken Nishimura, Representative Director, President and Executive Officer

Location: 5-12 Juniken-cho, Chuo-ku, Osaka

URL: https://www.mandom.co.jp/

SQUIZ Inc. Overview

Company Name: SQUIZ Inc.

Representative: Tomoaki Hirano, Representative Director

Location: Yamaba Bldg. 7F, 2-16-7 Yoyogi, Shibuya-ku, Tokyo

URL: https://oops-jp.com/love/company/

Ceres Inc. Overview

Company Name: Ceres Inc.

Representative: Satoshi Toki, Representative Director and President

Location: Shibuya Sakura Stage, SHIBUYA Tower 21F, 1-1 Sakuragaoka-cho, Shibuya-ku, Tokyo

URL: https://ceres-inc.jp/