Announcement of the Establishment of WALAKAS Inc.: ISSEI Inc. of 'Yakiniku Kokokara' and Goodness Foods Ltd. of 'Bouya' Merge on Their 20th Anniversary

WALAKAS Inc. (Headquarters: Sumida-ku, Tokyo, CEO: Issei Asada), which operates and produces restaurants mainly in the Yakiniku business, has newly established and started operations upon its 20th anniversary through the merger of ISSEI Inc. and Goodness Foods Ltd. We aim to maximize the strengths of both companies to further improve services and expand our business.

1. Basic Information on the Merger and Name Change **Merger Method** An absorption-type merger with ISSEI Inc. as the surviving company and Goodness Foods Ltd. as the absorbed company.

**Change of Trade Name (Company Name)** On the same date as this merger, the surviving company, ISSEI Inc., changed its trade name to the new company name "WALAKAS Inc."

**Effective Date of Merger and Name Change:** April 1, 2026 **Representative after Merger:** Representative Director Issei Asada

2. Background and History of the Merger "Yakiniku Kokokara" (formerly ISSEI Inc.) has strongly promoted FC expansion with its thick-cut meat and lively Izakaya-style atmosphere, establishing an operation that does not require artisans thanks to its central kitchen. On the other hand, "Wagyu Itto Yakiniku Bouya" (formerly Goodness Foods Ltd.) has built a solid brand in Tokyo armed with high-quality A5 rank meat sourced by buying whole Wagyu cattle and handmade cold noodles.

After group management integration starting in 2020, to respond to changes in the food service industry environment such as recent price surges and labor shortages, and to improve the reproducibility of multi-store development and strengthen headquarters functions and logistics, we have officially reached a merger and established a new company. By integrating the know-how of both companies, we will build a growth model looking ahead to the next generation, including a wide range of deployments from urban models to suburban roadside models, and cost reductions utilizing AI.

3. Corporate Information of the Merging Entities **■ ISSEI Inc.** Established: March 2007 Capital: 8 million yen Representative: Representative Director Issei Asada Sales: 2,003 million yen (Fiscal year ending March 2025) Major Brands: Yakiniku Kokokara, Yakiniku Kokokara R, Yakiniku Gijuku Track Record: Expanded 22 direct stores and 21 FC stores centering in Tokyo, reaching Kansai, Kyushu, and Okinawa. Owns an in-house central kitchen.

**■ Goodness Foods Ltd.** Established: April 2005 (Founded August 2003) Capital: 10 million yen Representative: Representative Director Issei Asada Sales: 1,338 million yen (Fiscal year ending March 2025) Major Brands: Wagyu Itto Yakiniku Bouya, Bouya Horumon-kan Track Record: Particular about buying whole Wagyu cattle and handmade cold noodles, operating 10 stores mainly in Tokyo such as Nihonbashi, Tokyo Station, and Fukuoka.