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A MESSAGE FROM OUR MANAGING PARTNER

We are very pleased to announce that with the full support and blessing of our partners, friends and colleagues, I, together with Aki Ishida, Nobuhiko Ito, Kaz Tokuyama and Kenju Watanabe, have established a new investment firm - Nippon Sangyo Suishin Kiko ("NSSK").

Our mission at NSSK is to build a best-in-class investment firm that will generate superior returns on our investments. In addition, we will protect the interests and reputation of our business partners at all times.

At NSSK, we identify and recruit the very best person for every job, take great pride in the professional quality of our daily interaction, stress creativity in everything we do, emphasize teamwork as a culture and ensure that integrity is at the heart of everything we do. In so doing, we aim to create a positive impact in the revitalization of Japan by leveraging our collective 130 years of investment and management experience and working in partnership with management teams of small to medium-sized business to build a bright future together. NSSK will provide expansion capital, critical business processes for operational improvement and management talent from its network of domestic and international operating executives.

We will continue to pursue the investment strategy we successfully executed over the past decade in Japan, and over the past 20 years on a global basis, that has led to superior investment performance. Key success factors ability to source and complete unique, attractive and proprietary investments, our ability to provide value-added impact at the companies we invest in and our steadfast commitment to "value investing" by creating deal dynamics that will enable attractive pricing through different economic cycles.

We are excited about embarking on this new and exciting journey and know that it is only possible with the support and friendship of people like you. It would be our pleasure to meet with you and discuss our mission and investment strategy in more detail.

Respectfully yours,
Jun Tsusaka
Managing Partner, CEO•CIO and Founding Member

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