Press release

December 25, 2023
JAFCO Group Co., Ltd.

JAFCO Portfolio Company Nalnet Communications
Completes its IPO on the TSE Growth Market
JAFCO Group Co., Ltd. (Headquarters: Minato-ku, Tokyo; President & CEO: Keisuke Miyoshi)
hereby announces that Nalnet Communications Inc. (Headquarters: Kasugai-shi, Aichi; President:Takashi Suzuki; hereinafter referred to as “Nalnet Communications”), a portfolio company of funds
it operates and manages (JAFCO SV6 Investment Limited Partnership and JAFCO SV6-S
Investment Limited Partnership; hereinafter referred to as “JAFCO”), completed its IPO on theGrowth Market of the Tokyo Stock Exchange on December 25, 2023.

Nalnet Communications, established in 1978 as an independent auto leasing company, has formany years cultivated expertise in leasing automobiles. Based on the know-how it has garnered in
the automobile leasing business, it currently provides comprehensive support in vehicle
management, including contracted maintenance management and BPO services, in collaboration
with leasing companies and auto repair shops nationwide. Notable among its operations is thecontracted automobile maintenance service, which provides an automobile maintenancemanagement system for improving vehicle safety, compliance, and operational productivity basedon the company’s proprietary information database on vehicle maintenance.
Since investing in Nalnet Communications in September 2019, JAFCO has supported thecompany’s growth strategy as a strategic partner. Under the unrelenting efforts of its directors andemployees, Nalnet Communications has expanded its business scale on an ongoing basis and has
carved out a distinctive niche for itself as a specialist in automobile maintenance management. Inthe approx. 4 years since making its investment, JAFCO has provided Nalnet Communications
with comprehensive support. The company’s client base has grown and diversified across sectors
For more information, please contact
pr@jafco.co.jp, JAFCO Group Co., Ltd.

Press release

December 25, 2023
JAFCO Group Co., Ltd.

and lines of business. Notably, one of its KPIs, total units under management, surged from around70,000 units at the end of September 2019 to around 170,000 units by the end of September
2023. As a result, an IPO was successfully achieved within four years and three months of theinitial investment.
JAFCO will continue to contribute to the realization of a sustainable society by investing in boldvisions that create new value.
<Nalnet Communications’ IPO press release>https://prtimes.jp/main/html/rd/p/000000029.000066010.html (in Japanese only)<Nalnet Communications’ IR website>
https://www.nal-mt.co.jp/ir/ (in Japanese only)

About JAFCO Group Co., Ltd.
Company name

JAFCO Group Co., Ltd.

Websitehttps://www.jafco.co.jp/english

Headquarters

24F Toranomon Hills Mori Tower, 1-23-1 Toranomon, Minato-ku,
Tokyo

Stock exchange
marketBusiness description

Prime Market, Tokyo Stock Exchange
JAFCO Group Co., Ltd., driven by its Purpose, “Fueling perpetualgrowth; investing in bold visions,” is a venture capital firm with thelargest cumulative portfolio in Japan. With more than 20 years ofexperience in buyout investments and more than 30 years in overseas
venture investments, it has supported over 1,000 IPOs to date.

For more information, please contact
pr@jafco.co.jp, JAFCO Group Co., Ltd.