Toshihiko Nakagawa

SPARX Group Co. Ltd. /Venture Capital/ (SPARX Group) is an operating division dedicated for venture capital investments and is headquartered in Tokyo, Japan. The firm was founded in 1989 by Abe Shuhei.

The Innovation Network Corporation of Japan (INCJ), a unique public-private partnership aimed at promoting innovation and enhancing the value of businesses in Japan, was launched in July 2009. Leveraging the rich history of Japanese technological prowess, the INCJ aims to provide financial, technological and management support in order to promote the creation of next-generation businesses through 'open innovation,' or the flow of technology and expertise beyond the boundaries of existing organizational structures. The INCJ will draw on funding as well as management and technological expertise from the public and private sectors. The INCJ is actively reviewing various investment opportunities in areas of environment and energy, electronics and IT, bio-tech, and infrastructure such as water supply, railway service, and nuclear power supply. Each investment will be thoroughly vetted to ensure it meets the exacting standards of the INCJ's Innovation Network Committee, which will make the final investment decisions. The INCJ is capitalized at 92 billion yen, with the Japanese government injecting 82 billion yen and 19 private corporations (refer to details in Appendix below) providing a further 10 billion yen. The government will also provide guarantees up to a total of 800 billion yen for INCJ investments, giving it an investment capability of approximately 900 billion yen (US$10 billion). The INCJ will be established for a period of 15 years.

STANDARD, Inc. provides digital transformation support, DX strategy consulting, and AI implementation services. The company is based in Chiyoda-ku, Japan. The Japanese company was founded in 2017 by Daichi Ishii. The CEO is Yasuo Kushino.

Sparx AI & Technologies Investment Co. Ltd. (Sparx AI) is a venture capital firm headquartered in Tokyo, Japan. The firm was established in 2018 and is wholly owned by the publicly listed company SPARX Group CO., Ltd. (TYO:8739).

Part of SPARX Group Co., Ltd., SPARX Asset Trust & Management Co., Ltd. provides asset management services. The company is based in Tokyo, Japan. SPARX Asset Trust & Management Co. was acquired by SPARX Group Co., Ltd. on April 16, 2014 for $3.72 million.

Nomura Securities International, Inc. (NSI) is a registered broker/dealer headquartered in New York City and was founded in 1969. The firm is a division of Nomura Holding America, Inc. and their ultimate parent is Nomura Holdings, Inc. (NYSE: NMR, TYO: 8604, AMS: 8604). NSI provides securities brokerage services, as well as asset management, domestic retail, global markets, global investment banking and global merchant banking services. The firm's fixed-income business consists of bond sales and trading, origination and product supply for securitization deals and real estate-focused asset finance operations (in cooperation with Investment Banking). In the equity markets, NSI offers sales and trading of domestic and foreign stocks on a global basis, primarily for institutional investors.

Citigroup Global Markets Japan, Inc. (CGM-JP) is a wholly-owned broker/dealer subsidiary of Citigroup Japan Holdings GK, ultimately held by Citigroup, Inc. (NYSE: C) in the US. Previously known as Nikko Citigroup Ltd., the firm was founded in 1999 as a joint venture between US-based Citigroup and Nikko Securities, based in Japan. Headquartered in Tokyo, CGM-JP provides brokerage services to governmental institutions, financial institutions, multinational corporations and institutional investors. Their sales and trading, distribution and research capabilities span a broad range of asset classes, currencies, sectors and products including equities, commodities, credit, futures, foreign exchange (FX), emerging markets, G10 rates, municipals, prime finance and securitized markets.

Citigroup Japan Holdings GK operates as a holding company. The company provides financial services to consumers, corporations, governments, and institutions. The company was established in 1991 and is headquartered in Tokyo, Japan.

Ant Capital Partners Co. Ltd. (ACP), formerly known as Nikko antfactory, is a private equity firm headquartered in Tokyo. ACP was founded in 2000.

SPARX Asset Management Co., Ltd. (SPARX) is the wholly-owned investment management subsidiary of SPARX Group Co., Ltd. (TYO: 8739) in Japan. The firm was founded by Shuhei Abe in 2006. Headquartered in Tokyo, SPARX provides portfolio management services and manages client accounts and funds.

The Norinchukin Bank operates as a financial institution for agricultural, forestry and fishery cooperatives in Japan. It operates through the following divisions: Food and Agriculture, Retail, and Investment. The Food and Agriculture business provides risk money through capital investments and human resources development; provides support services for agriculture-related technologies and management improvement; and promotes export support of agricultural, fishery and forestry products. The Retail business provides a range of financial functions as a member of JA Bank and JF Marine Bank. The Investment business manages funds entrusted with JA Bank and JF Marine Bank. The company was founded in December 20, 1923 and is headquartered in Tokyo, Japan.