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

RAY Field is a privately-owned company founded in 2001 and headquartered in Gifu City, Gifu Prefecture. The Company operates beauty salons under the brand name of “RAY Field”. The Company currently operates 55 stores, primarily located in the suburban areas in the Tokai, Kyushu, Hokuriku and Chugoku regions. The Company also has franchise operations. Positioned as a “total beauty salon”, the Company generates solid revenues per customer, strong margins and enjoys a high repeat rate and customer loyalty.

NSSK will provide NSSK’s Value Up Program (“NVP”) to RAY Field to implement global best practices including accounting, finance, compliance and governance measures, promoting ESG, strengthening of profitability, and the continued build out of new stores by leveraging NSSK’s real estate network. NSSK is partnering with RAY Field’s incumbent management team, who will continue to manage the Company and will retain a minority stake.