77 Research & Consulting and Relic Form Business Alliance to Support New Business Development by Regional Companies in Tohoku

77 Research & Consulting Co., Ltd. (head office: Sendai, Miyagi Prefecture; President and Representative Director: Jun Kobayashi; hereinafter “77R&C”) and Relic Inc. (head office: Shibuya-ku, Tokyo; Representative Director and CEO: Takaaki Kitajima; Representative Director and CTO: Ryo Oba; hereinafter “Relic”) announced that they have entered into a business alliance to comprehensively support new business development by regional companies. Through this alliance, the two companies aim to support the sustainable growth of regional companies through the creation of new businesses, while working toward a regional economy in which new businesses and industries continue to emerge from Tohoku. Background of the alliance: In Tohoku, amid population decline and changes in the industrial structure, regional companies are increasingly seeking new growth opportunities beyond the boundaries of their existing businesses. At the same time, new business development requires specialized knowledge and continuous hands-on support, which has become a challenge for regional companies pursuing such initiatives. As a group company of The 77 Bank, 77R&C has supported the development of regional industries by providing information and seminars to more than 2,600 member companies, undertaking commissioned projects from local governments and other organizations, conducting economic research, and helping companies resolve management issues. Relic, as a “business co-creation company,” has supported new business development and innovation creation for more than 5,000 Japanese companies. It has in-house capabilities across three domains: business, technology, and creative, and provides end-to-end support from new business concept planning to development and operation. The companies concluded that by combining their respective strengths, namely 77R&C’s trusted regional foundation and Relic’s expertise in new business creation, they would be able to comprehensively support new business development by regional companies, leading to this alliance. Overview of the alliance: At the core of the alliance is the provision of hands-on support services that accompany regional companies throughout the entire new business development process, from concept planning to commercialization and growth. Leveraging the strengths of both companies, the service will provide individually optimized support according to each company’s situation and phase. In addition, the companies will hold seminars and workshops as opportunities to deliver practical knowledge on new business development to a wider range of regional companies. Hands-on support services include continuous support by both companies from the concept stage through commercialization and growth; combining 77R&C’s relationships with regional companies and Relic’s new business development methodology and execution capabilities to provide optimal support based on each company’s phase and challenges. Seminars and workshops include periodic events on new business development; providing opportunities for personnel at regional companies to acquire practical knowledge and skills and take the first step toward initiatives within their own companies. Outlook: Through this alliance, the companies aim to build a locally rooted ecosystem for new business development that seamlessly supports everything from human resource development and idea generation to commercialization and growth. Toward the realization of a regional economy in which new businesses and industries continue to emerge from Tohoku, the companies will continue to deepen their collaboration and contribute to further revitalization of the regional economy. Company overview: 77 Research & Consulting Co., Ltd. is led by President and Representative Director Jun Kobayashi. Its head office is located at 3-3-20 Chuo, Aoba-ku, Sendai, Miyagi Prefecture. Established in July 2018, its businesses include planning and operation of membership organizations, publication of the magazine FLAG, lectures and seminars, provision of management information, research and survey services, and consulting services. Corporate website: https://www.77rc.co.jp Relic Inc. is led by Representative Director and CEO Takaaki Kitajima and Representative Director and CTO Ryo Oba. Its head office is located on the 19th floor of Yebisu Garden Place Tower, 4-20-3 Ebisu, Shibuya-ku, Tokyo. Established in August 2015, its businesses include incubation tech, business production and new business development support, open innovation including startup investment, VC fund operation, CVC establishment and operation support, joint business and JV creation, innovator talent development support, regional revitalization and regional innovation, and innovation workplace services. Corporate website: https://relic.co.jp