National Search Fund Closes "TOKYO Hakuba no Kishi Fund" at 4 Billion Yen. Executes Succession of Long-Standing Manufacturing Company as Second Project.

Part 1: Fund Fully Established and Business Succession of "Second Project" Executed

National Search Fund Co., Ltd. (Representative Director: Takashi Yamane, hereinafter "NSF") is pleased to announce the final closing of the "TOKYO Hakuba no Kishi Fund" at 4 billion yen, its initial target amount, in March 2026. Furthermore, the company has executed the business succession of Soei Electric Co., Ltd. (Shinagawa-ku, Tokyo, hereinafter "Soei Electric") as its second project.

① Establishment of "4 Billion Yen" Fund Through Japan's First Framework

In addition to Tokyo Metropolitan Government, regional banks, credit unions, and the Tokyo Credit Guarantee Corporation participated in this fund, marking the full establishment of a new business succession support framework in Tokyo.

Notably,

・Three credit unions – Seibu Shinkin Bank, Jonan Shinkin Bank, and Shiba Shinkin Bank – invested in the search fund (a first in Japan for credit unions to invest in a search fund). ・The Tokyo Credit Guarantee Corporation invested in the search fund (a first for any credit guarantee corporation in Japan).

These two nationwide firsts are drawing attention as a new sign of regional financial institutions becoming more deeply involved in business succession challenges.

Participating Institutions (in Japanese syllabary order): ・Kiraboshi Bank, Ltd. ・Shiba Shinkin Bank ・Jonan Shinkin Bank ・Seibu Shinkin Bank ・Tokyo Credit Guarantee Corporation ・Tokyo Metropolitan Government ・The Bank of Yokohama, Ltd.

Participation of Credit Unions

The participation of credit unions in a search fund is a first in Japan, demonstrating the commitment of financial institutions supporting local communities to foster a mechanism for nurturing next-generation leaders who will carry the future of small and medium-sized enterprises.

Participation of Tokyo Credit Guarantee Corporation The Tokyo Credit Guarantee Corporation became the first credit guarantee corporation nationwide to invest in a search fund.

This participation by a credit guarantee corporation that supports SMEs signifies the steady expansion of search funds as a powerful method for supporting business succession.

Cumulative 300 Searcher Applications for NSF NSF has received over 300 cumulative applications from searchers, selecting and nurturing 21 individuals to date. Of these, 6 have completed their successions, and the Hakuba no Kishi Fund has completed two investment executions.

The search fund mechanism is expanding, particularly in Tokyo, as an entity that attracts "individuals aspiring to management."

② Second Project: Business Succession of Long-Standing Manufacturer "Soei Electric" Executed by Atsushi Nakagawa

As the second project for this fund, the succession of Soei Electric, which manufactures and sells electrical contacts and electronic components, has been completed.

【Overview】

The "TOKYO Hakuba no Kishi Fund," in collaboration with searcher Atsushi Nakagawa, has executed an investment in Soei Electric, a manufacturer and wholesale distributor of electrical contacts and electronic components. Mr. Nakagawa will assume the position of Representative Director starting April 1, 2026.

Founded in 1974, Soei Electric is a long-established manufacturer of electronic components. In addition to its headquarters in Shinagawa-ku, Tokyo, it operates two major manufacturing bases in Fukuoka Prefecture. The company has supported various industries that underpin Japan's social infrastructure, such as information and communication, power equipment, and medical devices, from behind the scenes. With a flexible production system capable of handling small-lot, short-delivery, and high-precision processing, Soei Electric has earned deep trust from its customers for over 50 years.

In this instance, with no successor within the family or the company, the current representative, Mr. Sei, chose the search fund framework of "selecting and entrusting a successor" with the desire to "protect the skills and employment cultivated over many years and pass them on to the future." The business succession was successfully completed with great expectations placed on Mr. Nakagawa, who possesses both global knowledge and DX experience.

【Searcher Mr. Nakagawa's Background】

Name: Atsushi Nakagawa

Biography: After graduating from the Faculty of Engineering at Doshisha University, he was involved in launching overseas projects, rebuilding subsidiaries, and management at Toyota Tsusho Corporation. After completing his MBA at Keio University Graduate School, he led business expansion and organizational reform as an executive officer at an IT infrastructure and software company. He has experience in "overseas business x new business x subsidiary management x IT/DX." Driven by the desire to become a manager who strengthens organizations under his own responsibility and consistently leads businesses that exceed customer expectations, he participated in NSF's search fund.

【Overview of Investee Company】

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