National Search Fund's 'TOKYO Hakuba no Kishi Fund' Finalizes at 4 Billion Yen, Executes Succession of Long-Established Manufacturer as Second Project

■ Part 1: Full Fund Formation and Execution of Business Succession for the 'Second Project'

National Search Fund Inc. (Representative Director Takashi Yamane, hereinafter 'NSF') announced the final closing of its 'TOKYO Hakuba no Kishi Fund' in March 2026, having reached its initial target of 4 billion yen. Additionally, as its second project, NSF executed the business succession of Soei Denki Co., Ltd. (Shinagawa-ku, Tokyo, hereinafter 'Soei Denki').

① Completion of '4 Billion Yen' Fund Formation through a Nationwide First Framework

This fund saw participation from the Tokyo Metropolitan Government, regional banks, credit unions, and the Tokyo Credit Guarantee Corporation, establishing a new framework for business succession support in Tokyo.

Notably, two nationwide first initiatives are drawing attention as new signs of regional financial institutions becoming more deeply involved in business succession challenges:

・Three credit unions (Seibu Shinkin Bank, Jonan Shinkin Bank, Shiba Shinkin Bank) invested in a search fund (a nationwide first for credit unions).
・The Tokyo Credit Guarantee Corporation invested in a search fund (a nationwide first for credit guarantee corporations).

Participating Institutions (in alphabetical order):
・Kiraboshi Bank, Ltd.
・Shiba Shinkin Bank
・Jonan Shinkin Bank
・Seibu Shinkin Bank
・Tokyo Credit Guarantee Corporation
・Tokyo Metropolitan Government
・Yokohama Bank, Ltd.

■ Participation of Credit Unions

This marks the first time in Japan that credit unions have invested in a search fund, demonstrating the commitment of financial institutions supporting local communities to foster the next generation of managers who will lead the future of SMEs.

■ Participation of Tokyo Credit Guarantee Corporation
The Tokyo Credit Guarantee Corporation is the first credit guarantee corporation in Japan to invest in a search fund.

This participation by a credit guarantee corporation, which supports SMEs, indicates that search funds are steadily gaining ground as a powerful method for business succession.

■ NSF Receives Over 300 Searcher Applications
NSF has received over 300 searcher applications to date, with 21 individuals selected and trained.
Among them, 6 have completed succession, and the Hakuba no Kishi Fund has completed 2 investments.

The search fund mechanism is expanding, attracting 'individuals aspiring to management' primarily in Tokyo.

② Second Project: Business Succession of Long-Established Manufacturer 'Soei Denki' by Atsushi Nakagawa

As the fund's second project, the succession of Soei Denki, which manufactures and sells electrical contacts and electronic components, has been completed.

【Overview】

The 'TOKYO Hakuba no Kishi Fund,' together with searcher Atsushi Nakagawa, has executed an investment in Soei Denki, a company engaged in the manufacturing and wholesale of electrical contacts and electronic components. Mr. Nakagawa will assume the position of Representative Director from April 1, 2026.

Soei Denki is a long-established electronic component manufacturer founded in 1974. In addition to its head office in Shinagawa-ku, Tokyo, it has two main manufacturing bases in Fukuoka Prefecture, supporting various industries that underpin Japan's social infrastructure, including information and communication, power facilities, and medical equipment. With a flexible production system capable of handling small lots, short delivery times, and high-precision processing, the company has earned deep trust from customers for over 50 years.

This time, with no successor among relatives or within the company, the current representative, Mr. Sei, chose the search fund framework to 'select and entrust a manager' with the desire to 'protect the technology and employment cultivated over many years and connect them to the future.' Great expectations were placed on Mr. Nakagawa, who possesses global knowledge and DX experience, leading to the successful business succession.

【Searcher Atsushi Nakagawa's Profile】

Name: Atsushi Nakagawa

Biography: After graduating from Doshisha University's Faculty of Engineering, he was involved in overseas project launches, subsidiary reconstruction, and management at Toyota Tsusho Corporation. After completing his MBA at Keio University Graduate School, he led business expansion and organizational reform as an executive officer at an IT infrastructure and software company. He has experience in 'overseas business x new business x subsidiary management x IT/DX.' He joined NSF's search fund with the desire to strengthen organizations under his own responsibility and become a manager who consistently leads businesses that exceed customer expectations.

【Overview of Investee Company】