NEWS RELEASE
January 25, 2021
For Immediate Release
Japan Impact Investment II Limited Partnership

Impact Investment in Yell Company LimitedThrough Japan Impact Investment II Limited Partnership (hereinafter, "HATARAKU FUND") operated
by a group company, Shinsei Impact Investment Limited (Chuo-ku, Tokyo, Representative Directors:
Chunmei Huang and Sayaka Takatsuka; hereinafter, "Shinsei Impact"), Shinsei Corporate Investment
Limited ("SCI") underwrote the third-party allotment executed by Yell Company Limited (Shinagawa-ku,Tokyo; CEO: Masaru Sakurai; hereinafter, "Yell").
Yell is a startup that provides the service “YeLL”, an on-line 1on1 (1-to-1 listening session) service by
external talent that supports organizational transformation. Through its service, the company aims tosolve the low employee engagement (energy, enthusiasm, concentration, and willingness to contribute tothe organization) tendency in Japan, which has become a major issue for Japanese corporations andsociety. Through 1on1, each and every worker is able to verbalize his or her goals and challenges. Thiswill enhance independent career development and will nurture his or her awareness of roles andcontributions in the organization and community. Ultimately, the company seeks to achieve both "selffulfillment" for working individuals, i.e. the primary beneficiary, and " value creation" for client companies.
HATARAKU FUND is the successor fund to the first Japanese Impact Investment Fund (commonly
known as the Child-care Support Fund), which was established in January 2017 as the first impact
investment fund operated by the Japanese Banking Group. This fund targets to make impact investment※1
into the domestic child-care-related business. We aim to support the growth of investees’ businessesand expand social impacts by investing in "businesses related to child-care, elder-care, and new workstyles."
HATARAKU FUND made investment decision based on its understanding that the need for Yell's 1on1
service is increasing in the recent society with a ‘new norm’ after/with COVID19, where remote work ismore popular and a new organizational design is becoming requisite, and thus that Yell’s solution is inline with HATARAKU FUND’s targeted goal to enhance diverse work styles and lifestyles. In addition,
through the due diligence phase, we have repeatedly discussed with the company's management tointroduce the "Impact Measurement and Management"※2 process, where Yell measures and visualizes
the social impact from its business and utilizes the measurement results to improve management
processes and business strategies. Going forward, throughout the investment period, we will continue tosupport the creation of Yell's impact measurement and management, in order to actively promote theestablishment of the impact investment ecosystem.
*1 Investments aiming to achieve both economic and social returns.
*2 Incorporate social impact measurement into management PDCA cycles and apply them to business management.

■ Summary of Yell Company Limited
Name
Date established
Representative
Head officeBusinessDescription:::::

Yell Company Limited
June, 2013
Masaru Sakurai
Gotanda S&L Building 4F, 10-8, Higashi-Gotanda 1-chome, Shinagawa-ku, Tokyo
Online 1on1 services by external personnel

Capital: 188 million yen

■ Summary of the HATARAKU FUND
Name:

Date established
General partner
(GP)

:
:

GP Member:

AdvisorFund Period
Investment
Target:::Japan Impact Investment II Limited Partnership(commonly referred to as "HATARAKU FUND")
June 28, 2019Japan Impact Investment II LLP
Shinsei Impact Investment Limited
Japan Social Innovation and Investment Foundation
Mizuho Bank, Ltd.
Investment period of 5 years, fund term of 10 years
Early to later stage companies operating child-care,nursing care, and new work-style-related businessesEnd