January 14, 2019

Goldman Sachs Supports New Initiative to Eliminate Child Povertyin Japan
Committing approximately 400 million yen to a breakthrough model as a step towards
a fundamental solution to poverty issues

Goldman Sachs today announced that, through its donor-advised fund GS Gives, it will
provide approximately 400 million yen of financial support over the next three years to a new
initiative set up by NPO Learning for All (LFA) that aims to eliminate child poverty in Japan.
The initiative aims to provide high quality educational assistance to approximately 750children in Japan.
Over the past ten years, Goldman Sachs has contributed in excess of 1 billion yen in
donations to activities aimed at solving the issue of child poverty, reflecting the firm’s belief
that this is an important social investment that will contribute to sustainable growth andregional development in Japan.
According to surveys by Japan’s Ministry of Health, Labor and Welfare, the percentage ofchildren under 17 years old living below the poverty line in Japan was 13.9% in 2016. While
this represents an improvement on the rate recorded in the previous survey conducted in2012 (16.3%), the fact remains that 2.8 million – or one in seven – children in Japan live in astate of relative poverty. While many local authorities, NPOs and other groups have rolled out
various assistance programs that have helped to build out the network of support, afundamental solution has yet to be found.
LFA has a track record in providing both educational support and after-school pastoral carefor children in need. Drawing on the insights it has gained through these activities, it isbuilding a model to tackle child poverty at a national level, and aims to enable regions andlocal authorities across Japan to work together to address the issue. Goldman Sachs’
decision to partner with and provide funding to LFA is based on the belief that this new model
represents an important step towards breaking the cycle of poverty in Japan.
“The fact that today, one in seven children lives in poverty in Japan – a country struggling
with population decline – is a critical situation. And now is the time for society to cometogether and take action on this issue,” said Masanori Mochida, president of Goldman Sachs
Japan. “We have found an excellent partner in LFA, an organization which has been working
tirelessly to eradicate child poverty. Going forward, we will work together to provide a more
effective program and make a positive contribution to Japanese society.”
LFA is striving towards realizing a society in which all children can believe in their potential,and lead independent lives. Since 2010, the organization has been working with local
authorities throughout Japan to provide free-of-charge educational support opportunities, bothwithin and outside of classroom settings, and to offer ibasho (a Japanese term meaning aplace where a person feels acceptance, security and/or belonging) to over 6,000 children
from poor homes or who are otherwise disadvantaged.

In this new initiative, LFA will offer early-stage and ongoing support to children in need aged
between six and 18 in selected junior high school districts, by facilitating access to learningand personal development opportunities.
The program will launch first in Katsushika ward, Tokyo, where LFA currently operates a
support center. From fiscal year 2019 onwards, LFA will expand this initiative to other areas
as it aims to establish a sustainable and scalable operating model.
About Goldman Sachs’ Efforts to Combat Child Poverty in Japan
In 2010, Goldman Sachs established the Goldman Sachs Gives Community Support
Program in partnership with the Tokyo Voluntary Action Center. The program provides
support to children in care wishing to enter higher education, and for single parents lookingfor employment. The firm also runs an annual “Santa Project” in which employees purchase
gifts requested by children living in care, and provides financial support to a kodomo shokudo(children’s cafeteria) program that is being piloted by Yokohama City.
About Goldman Sachs
Goldman Sachs is a leading global investment banking, securities and investment
management firm that provides a wide range of financial services to a substantial anddiversified client base that includes corporations, financial institutions, governments andindividuals. Founded in 1869, the firm is headquartered in New York and maintains offices inall major financial centers around the world.
In Japan, Goldman Sachs has been expanding its operations to serve the diversifying needsof clients since first opening a Tokyo office in 1974. Currently, the firm provides investmentbanking and sales and trading services through Goldman Sachs Japan Co., Ltd and offers
asset management services through a group company.
About Goldman Sachs Gives
Since its establishment in 2010, Goldman Sachs Gives, a donor-advised fund, has madenearly $1.5 billion in grants and partnered with 6,000 nonprofits in 90 countries around theworld. Through its grants, Goldman Sachs Gives aims to help foster innovative ideas, solving
economic and social issues, and enabling progress in underserved communities globally.

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