Note:This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

May 27, 2021
For Immediate Release
Company Name: EPS Holdings, Inc.
Representative Director: Yan Hao, Chairman & CEO(Code No.: 4282, TSE First Section)
Inquiries: Kazuki Sekitani,

Vice President andCorporate Officer(Tel: +81-3-5684-7873)

Notice Regarding Agreement with SUZUKEN Co., Ltd. on Capital Participationin Subsidiary of EPS Holdings, Inc.
EPS Holdings, Inc. (the “Company”) hereby announces that an agreement was reached between the Company andSUZUKEN Co., Ltd. (“SUZUKEN”) on SUZUKEN’s capital participation in EP-PharmaLine Co., Ltd (“EP-PharmaLine”),
a consolidated subsidiary of the Company, on the condition that the acquisition of shares of the Company’s common stockby Shinyo K.K. through a tender offer (the “Tender Offer”) is consummated, as described in the “Notice Regarding MBO
and Recommendation Application” released separately on May 27, 2021. Details are as follows.

1.

Purpose of capital participation
Since the Company and SUZUKEN agreed on the capital and business partnership as released in the “Notice of Capitaland Business Partnership and Disposition of Treasury Stock through Third-Party Allocation” dated September 27, 2016,
the two companies have discussed the possibility of creating new added value by leveraging the management resources
and knowhow of the two corporate groups with the aim of contributing to the medical service and healthcare industries.
Based on this capital and business partnership, SUZUKEN participated in the management of the Company’s businessin China by taking a 35% stake in EPS EKISHIN Co., Ltd. in October 2016, and ES-Link Co., Ltd., a joint venturecompany related to the Company’s CSO business, was established in October 2018 (capital contribution ratio: theCompany holds a 51% stake and SUZUKEN 49%). The effect of the partnership in each business field is gradually
becoming apparent.
Accordingly, to further strengthen the capital and business partnership, the two companies agreed on SUZUKEN’s
capital participation in EP-PharmaLine with the aim of creating new services for pharmaceutical manufacturers andhealthcare industries by combining the business process outsourcing (BPO) functions in the Company’s CSO businessand its medical contact center functions with the various functions held by SUZUKEN.

2.

Outline of capital participation in EP-PharmaLine
For the development and deployment of joint business through BPO, etc. for pharmaceutical manufacturers andhealthcare industries, SUZUKEN will make a capital investment (capital contribution ratio of 49%) in EP-PharmaLine
on October 1, 2021 (plan) on the condition of the consummation of the Tender Offer.
The details of the capital participation, including the type and amount of contribution and management setup, arepresently under discussion.

3.

4.

Overview of parties to capital participation(1) NameSUZUKEN Co., Ltd.

EP-PharmaLine Co., Ltd.

(2) Main businesarea

Wholesale of ethical pharmaceuticals

DI (drug information) and other call center
services, related BPO services, and medical
device support services(3) Date ofestablishment

August 10, 1946

November 4, 1997

(4) Location

8 Higashi-katahamachi, Higashi-ku, Nagoyashi, Aichi

3-27-12 Nishi-Ikebukuro, Toshima-ku,
Tokyo(5) Positions
and namesof representatives

Hiromi Miyata, President and Executive
Officer
Shigeru Asano, Representative Director andExecutive Vice President

Junichi Nishizuka, Chairman and
Representative Director
Kanami Ikeda, President andRepresentative Director(6) Capital

13,546 million yen

433 million yen(7) Number ofemployees

15,041 (Consolidated)

1,619(8) Major
shareholders andshareholding ratio

The Master Trust Bank of Japan, Ltd.
(Trust Account):
7.09%
Custody Bank of Japan, Ltd.
(Trust Account):
3.86%
Shionogi & Co., Ltd.: 3.65%
Yoshiki Bessho:
3.46%

EPS Holdings, Inc.: 100%

Future outlook
After the details of the subject matter are determined, if it becomes necessary to revise business forecasts and/or if any
matter to be disclosed arises, such information will be immediately disclosed.