Nippon Sangyo Suishin Kiko (“NSSK”;http://www.nsskjapan.com/en) is pleased to announce that a company controlled by investment partnerships managed by NSSK affiliates (NSSK II) completed its investment in ELSONIC Co., Ltd. and its affiliates (collectively “ELSONIC” or the “Company”;http://www.elsonic.co.jp).

ELSONIC was founded in Osaka City, Osaka prefecture in 1995 and operates 46 retail stores in primarily urban shopping locations throughout Japan under the brand name of “Thank You Mart”. The goods sold by the Company are fashionable, cute and “want to have” items each priced at 390 yen, approximately US$3.50, which is within a price range attractive to junior high and high school girls. In particular, the Company sells products that feature a wide variety of popular animation or video game characters such as Sesame Street, Sponge Bob Square Pants and Powerpuff Girls and attracts customers who follow these characters. The Company has its own illustrators for product development and releases one or more new products every day; with many products being original or unique to ELSONIC. Products include clothing wear, accessories, hand bags, jewelry, school supplies, among others. Moreover, the Company uses social media effectively as its main marketing medium with a very strong following on various social media platforms.

NSSK will provide NSSK’s Value Up Program (“NVP”) to ELSONIC to implement global best business practices including accounting, finance, compliance and governance policies and procedures, promote corporate identity and ESG, strengthen same store sales growth and profitability, and accelerate new store openings by leveraging NSSK’s real estate network. NSSK is partnering with ELSONIC’s incumbent management team.