NBI Holdings and SBI Securities Launch Hot Spring Ryokan Fund

NBI Holdings Inc. (Headquarters: Minato-ku, Tokyo; Representative Director: Takayuki Kanaya; hereinafter referred to as "NBI Holdings") is pleased to announce the establishment of "Godokaisha NBI Atami Investment" (hereinafter referred to as the "Fund") for the purpose of enhancing the value and operations of the luxury hot spring ryokan "Atami-san-ga" (hereinafter referred to as the "Property") in Atami Onsen, Shizuoka Prefecture. The Fund will receive anonymous partnership investments from a group company of SBI Securities Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director President: Masato Takamura; hereinafter referred to as "SBI Securities"), and NBI Holdings will serve as the asset manager to drive further value enhancement as a luxury hot spring ryokan.

NBI Holdings, which aims to revitalize regions through value-up investments in accommodations like ryokans, and SBI Securities, which possesses a broad network and capital in the finance and investment fields, will collaborate to enhance the value of the Property. Furthermore, Showa Leasing Co., Ltd. (Headquarters: Chuo-ku, Tokyo; Representative Director President: Shinsuke Yamsyama) will participate as a financial advisor for this initiative.

Following the commencement of the Fund's operations, renovation work including an increase in the number of guest rooms will be carried out. By adding new value, we aim to rebuild it into a design-oriented, luxury-grade hot spring ryokan that offers a high-quality stay experience.

<Fund Overview>

Financier: Godokaisha NBI Atami Investment Anonymous Partnership Investor: ER27 Co., Ltd. (SBI Securities Group Company) Financial Advisor: Showa Leasing Co., Ltd. Lender: The Yamanashi Chuo Bank, Ltd. The Shimizu Bank, Ltd. Asset Manager: NBI Holdings Inc. Property: Property Name: Atami-san-ga Location: Amiji 591-102, Atami City, Shizuoka Prefecture Access: Approximately 25 minutes by car from Atami Station (Tokaido Shinkansen) Number of Rooms: 7 rooms (before renovation) / 8 rooms (after renovation)

<Scheme Diagram>

<Renovation Image After Completion>

**NBI Holdings Inc.** <Company Profile> Representative Director: Takayuki Kanaya Headquarters Address: Hibiya Central Building 5F, 1-2-9 Nishi-Shinbashi, Minato-ku, Tokyo Established: August 20, 2024 Capital: 50 million JPY Business Description: Real estate investment business, financial services business, regional revitalization business Licenses & Permits: Financial Instruments Business (Kanto Local Finance Bureau Director (Kinsho) No. 3494 (Investment Management Business)), General Real Estate Investment Advisory Business (General - No. 182), Real Estate Transaction Business (Governor of Tokyo (1) No. 111678) Official Website: https://nbi-hd.co.jp/

<Representative's Biography> Takayuki Kanaya Born in Tokyo in 1981. Graduated from Keio University, Faculty of Economics in 2004. After working at a major real estate company, a real estate investment fund, he joined Hoshino Resorts Inc. in 2012. In the same year, he was appointed Director of Investment Management at Hoshino Resorts Asset Management Co., Ltd., the asset management company for Hoshino Resorts REIT, Inc. In 2020, he became a Director at Hoshino Resorts Inc. Subsequently, after working at investment companies such as RISA Partners Inc., he became the Representative Director of NBI Holdings Inc. in September 2024. He has been involved in the execution of hotel real estate investments and corporate acquisitions totaling over 200 billion JPY, as well as the establishment of multiple new funds, including the launch of a listed REIT.

**SBI Securities Co., Ltd.** <Company Profile> Representative Director: Masato Takamura Headquarters Address: 1-6-1 Roppongi, Minato-ku, Tokyo Established: March 30, 1944 Capital: 54.32314 billion JPY Business Description: Online comprehensive securities Licenses & Permits: Financial Instruments Business (Kanto Local Finance Bureau Director (Kinsho) No. 44 (Type 1 Financial Instruments Business, Type 2 Financial Instruments Business, Investment Advisory and Agency Business)) Official Website: https://www.sbisec.co.jp/

<Representative's Biography> Masato Takamura After graduating from Keio University, Faculty of Law in 1992, he joined Sanwa Bank (now MUFG Bank). In 2005, he joined E*TRADE Securities (now SBI Securities). In 2007, he became an Executive Officer and Director at SBI E*TRADE Securities (now SBI Securities). In 2012, he became Senior Managing Director at SBI Securities, and in 2013, he was appointed Representative Director and President of the company. Since 2022, he has served as Representative Director and Vice President (COO) of SBI Holdings.

<Legal Information Regarding Financial Instruments and Exchange Act, etc.> Company Name, etc.: SBI Securities Co., Ltd. Financial Instruments Business Operator, Commodity Futures Trader Registration Number: Kanto Local Finance Bureau Director (Kinsho) No. 44 Associations: Japan Securities Dealers Association, The Financial Futures Association of Japan, The General Association of Type II Financial Instruments Firms, The Investment Trusts Association, Japan, The General Association of Japan Security Token Offering, The Japan Commodity Futures Association, The General Association of Cryptoasset Exchange Providers Japan

<Information on Fees and Risks> Opening and account management fees for SBI Securities' comprehensive securities account are free. When investing in products handled by SBI Securities, you may be required to bear predetermined fees and necessary expenses for each product. Furthermore, prices of each product may fluctuate, leading to potential losses (for margin trading, futures and options trading, commodity futures trading, foreign exchange margin trading, Exchange CFDs (Click 365), and OTC CFDs (SBI CFD), losses may exceed the deposited margin/collateral (principal)). The fees and risks associated with investing in each product vary, so please refer to the relevant product page on the SBI Securities website, the "Legal Information Regarding Financial Instruments and Exchange Act, etc.", or the pre-contract disclosure documents for details.

**Showa Leasing Co., Ltd.** <Company Profile> Representative Director: Shinsuke Yamsyama Headquarters Address: Nihonbashi Muromachi Nomura Building, 2-4-3 Nihonbashi Muromachi, Chuo-ku, Tokyo Established: April 2, 1969 Capital: 29.36 billion JPY Business Description: Comprehensive leasing business, leasing of information-related equipment, industrial machinery, construction machinery, medical equipment, commercial facilities, aircraft, installment sales, and various financing services; brokerage business for life insurance. Licenses & Permits: Financial Instruments Business (Kanto Local Finance Bureau Director (Kinsho) No. 1848 (Type 2 Financial Instruments Business)), Money Lending Business (Kanto Local Finance Bureau Director (14) No. 381)

<Contact Information for this Matter> NBI Holdings Inc. Public Relations/IR Department Tel: 03-6263-9193