March 5, 2024
For Immediate Release
Company Name:
Representative Name:TOKAI Holdings Corporation
Katsuo Oguri, RepresentativeDirector, President and CEO(Code No. 3167, TSE Prime Market)

Announcement of Investment in S-Bridges Co., Ltd.
TOKAI Holdings Corporation (the “Company”) hereby announces that TOKAI Venture Capital & Incubation Co.,
Ltd. (Headquarters: Shizuoka City, Shizuoka Prefecture, President: Naoto Yokota, hereinafter referred to as TVC&I),
has invested in S-Bridges Co., Ltd. (Headquarters: Hamamatsu City, Shizuoka Prefecture, CEO: Takashi Nagato,
hereinafter referred to as S-Bridges), which conducts research and development on the technology and manufacturing
process of extracting useful ingredients from various plants and foods, including those that are discarded, using cell
membrane disruption (cell break) technology.
Details
1. About S-Bridges
S-Bridges is a startup company launched in February 2022 as a "biomaterial transformation" business* createdand promoted by Shizuoka University.
The "biomaterial transformation" business* involves extracting and utilizing (reusing) useful components suchas proteins and fibers from existing plants (agricultural products), potentially solving the protein crisis expected in
the future and improving sustainability in the agricultural and food industries.
Through this business, the utilization and reuse of Shizuoka Prefecture's tea leaves, post-use tea leaves, and otheragricultural products can contribute to the promotion of a circular economy, as well as support local industries andregional revitalization. As a startup company originating from Shizuoka University, S-Bridges is actively
promoting business creation in Shizuoka Prefecture through industry-academia collaboration with the Faculty ofEngineering and the Faculty of Agriculture at Shizuoka University.
*Business that creates new materials from components that are not usually utilized, including proteins, extracted fromfood, including tea leaves and tea residues.

2. Reasons for Investment
TVC&I, as the corporate venture capital (CVC) of the TOKAI Group, is committed to investing in andsupporting domestic startup companies, and promoting open innovation aimed at strengthening group businesses,promoting GX and DX, and creating new businesses through collaboration with invested startup companies.
The investment in S-Bridges is made with the expectation of improving the profitability, value, andsustainability of tea cultivation and related businesses in Shizuoka Prefecture, as well as the potential for creating
new businesses in the future for the TOKAI Group. With the funds raised in this round, S-Bridges will strengthen
its business structure and accelerate the development and implementation of its business model. TVC&I will
support the practical application of S-Bridges' efforts to separate and extract useful ingredients from various
plants through its investment. This investment will provide S-Bridges with the necessary resources to enhance its
business structure, accelerate the development and implementation of its business model, and further advance its
research and development activities.

13. Outlook for the Future
We recognize that the impact of this matter on our consolidated financial performance for the fiscal year endingin March 2024 will be minor.

Contact for inquiries
TOKAI Venture Capital & Incubation Co., Ltd. (Contact: Mr. Ueda)
TEL: 03-5404-2892 (Reception hours: Weekdays 9:00-12:00, 13:00-17:45)

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