Japan's First Donor-Advised Fund "DAF Arata" Launches Full Operations with Inaugural Fund "Shaen Education Fund"

Public Resource Foundation (Location: Chuo-ku, Tokyo; Representative Director: Takeshi Kusumi; hereinafter referred to as "the Foundation") is pleased to announce the commencement of operations for the "Shaen Education Fund," the first fund established under "DAF Arata," a pioneering Donor-Advised Fund (DAF) program in Japan developed in collaboration with Sumitomo Mitsui Trust Bank Co., Ltd. Operations began in early May 2026. (According to the Foundation's research).

Following its establishment in March 2026, preparations for full-scale operation have been underway. We have now completed the purchase of financial products using the donations from Mr. Masayuki Kakuhou, the donor, and have officially launched "DAF Arata" as an "Investment x Select Original Fund" for solving social issues.

■ About "DAF Arata" and the Inaugural Original Fund "Shaen Education Fund"

【Donor】Masayuki Kakuhou (Resident of Yokohama City)

【Original Fund Name※】"Shaen Education Fund"

※The name was chosen at the donor's discretion.

【Donor's Words】

I have lived by the motto of a "three-in-one life" as a business person, a community member, and a family person.

Looking back, I have experienced three major illnesses, including cancer, and have faced sorrows that are difficult to put into words.

Nevertheless, I am fortunate to have lived a truly rich and joyful life with the support of my family and friends.

I created the word "Shaen" (gratitude for connections) to express my gratitude for my relationships with everyone.

Therefore, to support activities such as education for young people and creating spaces for them, which I have valued throughout my life, I established the "Shaen Education Fund" as an "On-Okuri Fund" (a fund to pass on kindness to the next generation) to send the kindness I have received to the next generation.

■ Commencement of Full Operations from May and the "Invest and Grow" Mechanism

"DAF Arata" is characterized by its unprecedented form of perpetual social contribution, where donations are invested in financial products, and the principal and investment gains are utilized to "invest and grow." The "Shaen Education Fund," as the first fund, also began its operations from early May with a medium to long-term perspective.

For the management of this fund, we have selected the "World Economic Index Fund"※ provided by Sumitomo Mitsui Trust Asset Management, aiming for steady growth through global asset allocation.

※The overall performance of the financial product (investment trust) managing the fund can be confirmed in the monthly reports published on the following website of the Sumitomo Mitsui Trust Group.

▼World Economic Index Fund | Sumitomo Mitsui Trust Asset Management
https://www.smtam.jp/fund/detail/_id_140844/

■ Overview and Future Development of the "Shaen Education Fund"

The "Shaen Education Fund" was established with the purpose of passing on the gratitude for the "connections" that donor Masayuki Kakuhou has gained throughout his life to the next generation (On-Okuri). Information on the investment trust's performance and the activities of the supported organizations will be reported through the official "DAF Arata" website.

■ About "DAF Arata"

"DAF Arata" Official Website: https://daf-arata.public.or.jp/
"DAF Arata" is Japan's first "Japanese-style Donor-Advised Fund" = "Investment x Select Original Fund※," jointly operated by Sumitomo Mitsui Trust Bank and the Foundation. It is the only form of donation that allows donors to designate organizations that generate social impact from a list of carefully selected supported organizations from the Foundation's database of certified charitable organizations, in line with the donor's wishes.

Funds in "DAF Arata" are donations received by the Foundation from donors, invested in financial products (investment trusts) by Sumitomo Mitsui Trust Bank, and from the principal and investment gains, organizations working to solve social issues can be supported.

※What is "Original Fund®"

"Original Fund®," operated by the Public Resource Foundation, is managed as designated specific assets of a public interest incorporated foundation, clearly separated from other funds. Funds are managed separately for each donor.

＜Reference Information＞

About Public Resource Foundation (https://www.public.or.jp/)

Public Resource Foundation is the only public interest incorporated foundation in Japan that has extensive experience in managing funds through donations and possesses a database of reliable non-profit organizations that have passed eligibility screening through public solicitation ("Certified Charitable Organizations Database").

It originated in 2000 as a non-profit think tank, NPO Corporation Public Resource Center, and has been involved in strengthening the management of non-profit organizations, evaluating corporate social performance related to SRI (Socially Responsible Investment) and supporting CSR promotion, and promoting donations including online giving. In January 2013, based on these achievements and accumulated experience, it was relaunched as "Public Resource Foundation," a specialized organization for promoting donations that connects the financial capacity of individuals and corporations to investments in social projects, in order to realize the aspirations of people who want to help others through donations. Its mission is to "change society through intentional giving," and it works to create mechanisms for giving that enrich lives and pave the way for the future, offering various methods such as thematic funds, Original Funds®, and bequests.

Since becoming a public interest incorporated foundation in 2013, it has received cumulative donations exceeding 5.4 billion yen from 190,106 cases and provided grants of approximately 3.3 billion yen for 4,408 cases (as of March 2025).

About Sumitomo Mitsui Trust Bank

Sumitomo Mitsui Trust Bank aims to realize "Financial Well-being" that corresponds to the "100-year life" era, providing comprehensive consulting services that meet diverse needs in asset management, asset administration, inheritance, and real estate. By proposing optimal solutions tailored to life stages, it supports the realization of a secure and prosperous future.

Initially, Sumitomo Mitsui Trust Bank's donation intermediary services will be available to customers of its Wealth Management Department and Osaka Wealth Management Department. The scope of service windows is expected to expand sequentially.