May 23, 2022
To whom it may concern,Mizuho Leasing Co., Ltd.
Formation of a Corporate Venture Capital Fund and Implementation of an Investment Project~ Towards a realization of innovation through partnerships with startup companies ~Mizuho Leasing Co., Ltd. (President and CEO: Shusaku Tsuhara; hereinafter “Mizuho Leasing”) has establishedFuture Creation Capital Co., Ltd. (wholly owned subsidiary of Mizuho Leasing, Representative Director:
Nobufusa Takeuchi; hereinafter "Future Creation Capital") and has formed a corporate venture capital fund,Future Creation Investment Limited Partnership (hereinafter “CVC fund”) in an effort to participate in thecorporate venture capital businesses.
We are pleased to announce that for our first investment, we have executed an investment contract with PowerX,Inc. (Director, President & CEO: Masahiro Ito; hereinafter “PowerX”), a company that seeks to accelerate theadoption of renewable energy and the technological evolution of energy storage and transmission.
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Regarding the CVC Fund

(1) Positioning and key investment areas
Under Mizuho Leasing’s mission to “connect needs to create the future”, the Sixth Mid-term Management
Plan defined areas of focus such as “joint promotion of the services business”, “real estate”, ”environment
and energy”, “medical and healthcare”, “subscription business and vendor finance”, and we continue tochallenge ourselves in new businesses through alliances and by working with business partners so as
not to limit ourselves to the frameworks of existing businesses.
The CVC fund was established as part of this initiative and in addition to Mizuho Leasing’s areas of focus,
areas with growth potential such as robotics and EV / storage battery, etc. that support our future social
infrastructure and areas related to achieving a circular economy are considered key areas of investment.
(2) Leverage Mizuho Group’s comprehensive capabilities by working with Mizuho Capital
The CVC fund will be operated with the cooperation of Mizuho Capital Co., Ltd. (President: Yusuke
Omachi; hereinafter “Mizuho Capital”) with which Mizuho Leasing has a capital and business alliance.
Since its establishment in 1983, Mizuho Capital has gathered extensive knowledge and experience inidentifying startup business models and supporting the growth of startup companies, and has become a
top-class venture capital firm in terms of the number of investments that have gone public.
By leveraging Mizuho Capital’s network and knowledge, Mizuho Leasing’s expertise regarding “goods”
and our deep understanding of finance and logistics, and utilizing the customer base of the entire Mizuho

1Group, we will not only discover promising investments but also develop higher quality products andservices by being hands-on with the investments and forming business alliances. By doing so, we seek
to realize innovation thereby providing new value to everyone within and outside of Mizuho Group.
<CVC Fund Summary>(1) Name

Future Creation Investment Limited Partnership(2) Unlimited Liability Partner

Future Creation Capital Co., Ltd. (wholly owned subsidiary of Mizuho
Leasing)(3) Limited Liability Partners

Mizuho Leasing Co., Ltd., Mizuho Capital Co. Ltd.

(4) Total Capital Pledged

3 billion yen(5) Establishment

March 14, 2022

<CVC Fund Focus Areas>

2.

Real Estate(Logistics)

Renewable Energy

Robotics

EV / Storage Battery

Healthcare

Subscription/Vendor Finance

Execution of the First Investment ProjectAs a next-generation energy company, PowerX seeks to accelerate the adoption of renewable energy andthe technological evolution of energy storage and transmission. This startup company has garneredattention with its manufacturing and sales of large-scale storage batteries and the development andmanufacturing of power transfer vessels.
Through the CVC fund, we have executed an investment contract to acquire a portion of the third-party
allocation of shares carried out by PowerX.
Through this investment, we aim to accelerate the spread of renewable energy and contribute to therealization of a decarbonized society.

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<Corporate Summary of Investment>(1) Company NamePowerX, Inc.

(2) Address

Midtown Tower 43F, 9-7-1 Akasaka, Minato-ku, Tokyo(3) Title and Name of Representative

Director, President & CEO: Masahiro Ito(4) Capital

70 million yen(5) Date of Establishment

March 22, 2021

(5) Business Details

Manufacturing and sales of large-scale storage batteries,
development and manufacturing of power transfer vessels

Contact Information:
Corporate Communications Department, Mizuho Leasing Company, Limited
2-6 Toranomon 1-chome, Minato-ku, Tokyo 105-0001
Phone: +81-3-5253-6540

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