CLAS Secures Funding from Joyo Bank. Strengthening Collaboration with Regional Financial Institutions to Further Expand the Circular Ecosystem

(CLAS Service Site: https://clas.style/)

CLAS Inc. (Headquarters: Meguro-ku, Tokyo; President and Representative Director: Hirotake Kubo; hereinafter "CLAS"), which builds a circular ecosystem for interior goods, is pleased to announce that it has secured funding from The Joyo Bank, Ltd. (Headquarters: Mito City, Ibaraki Prefecture; President: Tetsuya Akino; hereinafter "Joyo Bank") through a loan agreement.

・Background and Purpose of Funding CLAS operates under the vision of "Making living free and light," managing a circular platform that repairs, cleans, and reuses furniture and home appliances returned after use. We have established a robust business model through the optimization of our proprietary DX and logistics infrastructure and thorough improvement of unit economics.

We have secured this funding after Joyo Bank recognized the social significance and future potential of our business. With this funding, we will further strengthen our "circular ecosystem" for durable consumer goods, such as furniture and home appliances, and actively advance our business development to deliver our services to customers in a wider range of regions.

We will continue to deepen our collaboration with regional financial institutions, promote a circular economy that recycles resources, and contribute to the reduction of waste and the realization of a decarbonized society.

・Comments from Representatives ■ Mr. Toru Tagaya, General Manager, Structured Finance Department, The Joyo Bank, Ltd. Under the vision of "Making living free and light," CLAS operates a circular platform for durable consumer goods, proposing a "new way of living" alongside flexible interior usage and purchasing experiences.

By building a full-scratch system that controls the value chain, engaging in asset regeneration initiatives such as repair and cleaning, and constructing operations capable of handling a wide variety of products, they have achieved both improved profitability and a contribution to the realization of a circular society.

Our bank highly evaluates the business model, the stance of challenging social issues, and the execution capability of CLAS, which led to the execution of this loan.

We are confident that the initiatives of CLAS will lead to the realization of a sustainable circular society, and our bank will fully support their growth and contribute to solving social issues.

Mr. Takumi Hara, General Manager, Strategic Finance Office, CLAS Inc. I would like to express my sincere gratitude to Joyo Bank for their high evaluation of the social significance of our business and its growth potential as a sustainable business model, and for their significant support.

Under our vision of "Making living free and light," we are promoting the construction of a circular ecosystem that provides durable consumer goods on a monthly subscription basis while continuing to utilize products for a long time through repair and cleaning. With this funding, we will further strengthen our proprietary DX and logistics infrastructure, solidifying the foundation of a platform that balances sustainability with a high-quality user experience.

By deepening our collaboration with regional financial institutions, we will deliver our services to customers in a wider range of regions and strive toward the realization of a society where the reduction of environmental impact and comfortable living coexist.

・Company Overview ■ The Joyo Bank, Ltd. Headquarters: 2-5-5 Minamimachi, Mito City, Ibaraki Prefecture Representative: Tetsuya Akino, President Founded: July 30, 1935 Corporate Site: https://www.joyobank.co.jp/ "Co-creation and Innovation" Page: https://www.joyobank.co.jp/enterpri/innovation

CLAS Inc. Headquarters: Aobadai Studio 2F, 4-6-6 Aobadai, Meguro-ku, Tokyo Representative: Hirotake Kubo, President and Representative Director Established: April 24, 2018 Corporate Site: https://clas.style/company.html

CLAS Inc. operates a circular platform for durable consumer goods, providing subscription services for furniture and home appliances to individuals and corporations. By offering free and flexible options such as "renting" on a monthly basis, "buying" with residual value payments, and "returning" or "exchanging" when no longer needed, we reduce the burden of initial costs and effort, making it easy and simple to create the optimal space for any given time.

[Services Provided] ・Circular furniture and home appliance rental/subscription "CLAS" ・Office construction and relocation for corporations "CLAS Biz" ・"Private Phone Booths" ideal for office web meetings and 1-on-1s ・"CLAS Home Staging" to support early closing of real estate properties ・"Furnished Rental Service" providing furniture and appliances tailored to trends in a one-stop shop ・[30days] Mattress purchase program "nicesleep" ・[30days] Gaming chair specialty store "gg-chair" where you can try at home and buy with free returns

We have built a unique system to repair and clean returned products for reuse. We promote the formation of a circular society by eliminating the disposal of products that have not reached their useful life due to lifestyle changes, and by ensuring they fulfill their intended product lifespan. In a demonstration project by the Ministry of the Environment, it was confirmed that compared to traditional sell-out business models, our model reduces waste generation by 38% and CO2 emissions by 36% (as of February 2023).

Through the reduction of waste and contribution to a decarbonized society, we contribute to the realization of a circular economy where resources are recycled, and aim for a society where everyone can live in their own way.

*Impact created by CLAS: https://clas.style/company/news/227

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