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.

April 26, 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 of Changes in Subsidiary in China

EPS Holdings, Inc. (the “Company”) hereby announces that at a meeting held today, its Board of Directors
passed a resolution regarding the Company's purchase of shares (75% of shares outstanding) in Speed
Apparel Holding Limited ("SPEED") listed on the Main Board of Hong Kong Exchanges and Clearing held bySpeed Development Co. Ltd, a major shareholder of SPEED. The Company entered into an agreement on thesame day.

1. Reason for the acquisition
The SPEED Group (SPEED and its affiliates and subsidiaries) is a corporate group headquartered in Hong
Kong with its core business being supply chain management services of apparel. The SPEED Group provides
global apparel manufacturers (including leading apparel manufacturers in Japan) with an analysis of fashion
trends, as well as design and development, the procurement of materials, production management, quality
control and product logistics services in the manufacturing of apparel products.
Based on its mission "We will contribute to the advancement of the healthcare industry by providing high valueadded solutions to our clients," the EPS Group (EPS Holdings and its affiliates and subsidiaries) conducts
business centered on CRO, SMO and CSO services, the core business that supports pharmaceutical companies,
academia and medical institutions in Japan. In China, the EPS Group is developing business for products,including pharmaceuticals and medical equipment. In addition, the EPS Group plans to promote the products
business which the Group has been cultivating in its China operations as a business of the Group, as well as
business in China.
As one of its specific initiatives, the Group regards apparel x healthcare using smart apparel, etc. as an example.
To accelerate the initiatives in this new field, the Group aims to establish an unprecedented business by placing
SPEED with know-how in the design and logistics of apparel products under its umbrella and combining SPEED's
know-how with the Group's knowledge of healthcare.
In addition, the Group will promote multi-faceted business development by adding drug discovery which theGroup has been working on in the China business to the products business between Japan and China, which isconducted mainly by SPEED.

2. Overview of subsidiary subject to change

(1)

Name

Speed Apparel Holding Limited**Subject to resolution at an extraordinary general meeting ofshareholders, Speed Apparel Holding Limited will change its
name to EPS Creative Health Technology Group Ltd.

(2)

Address

23 Man Lok Street, Hung Hom, Kowloon, Hong Kong

(3)

Name and title ofChan Wing Kai (Executive Director, Chairman of the Board andrepresentativeCEO)(4)

Description ofbusinessSupply chain management services(5)

Capital5,000 thousand Hong Kong dollars(6)

Establishment

November 19, 2015

(7)

Major shareholders
and theirshareholding ratios

Speed Development Co. Ltd
CapitalNot applicable.

relationship

(8)

75％

Not applicable.

Relationships with

Personal

the listed company

relationship

Not applicable.

Businessrelationship(9)

Consolidated business results and financial position of the company concerned for themost recent three years
Fiscal year

Unit: Thousand Hong Kong dollars
Year ended March

Year ended March

Year ended March

31, 2018

31, 2019

31, 2020

Consolidated net assets

92,291111,913

126,530

Consolidated total assets

118,690

140,663

152,532

Consolidated net sales

390,423

433,004

537,408

Consolidated operating income

20,04032,83433,096

Profit attributable to ownersof parent

14,084

27,23422,735

2.9

5.4

4.5

1.5

1.6

0.0

Profit per share(Hong Kong cent)Dividend per share(Hong Kong cent)
3. Overview of the seller of shares
(1)

Name

Speed Development Co. Ltd(2)

Head Office Location

23 Man Lok Street, Hung Hom, Kowloon, Hong Kong

Major shareholders(3)and their

Chan Wing Kai

100%

shareholding ratios(4)

Relationships withthe listed company

Capitalrelationship

Not applicable.

Personal
relationship

Not applicable.

Businessrelationship

Not applicable.

Related Parties

Not applicable.

4. Number of shares to be acquired, acquisition price, and the status of shareholding before and afteracquisition(1)(2)

Number of shares

0 sharesowned before change(Percentage of voting rights: 0%)

Number of shares to375,000,000 sharesbe acquired(Percentage of voting rights: 75%)
Common shares of SPEED

370.5 million Hong Kongdollars(3)

Acquisition price(Reference: Approx. 5,187 million yen if converting Hong Kong

dollar to the yen at the rate of 14 yen to a Hong Kong dollar)
Advisory expenses (estimate)
Total (estimate)(4)

Number of shares
owned after change

Approx. 83 million yen
Approx. 5,270 million yen

375,000,000 shares*(Percentage of voting rights: 75%)

5. Schedule
Date of resolution at(1)the Board of Directors

April 26, 2021

meeting(2)(3)

Date of transfer
agreement
Date of completion ofshare transfer(4)

Trade name change

April 26, 2021
April 27, 2021
May 2021 (Plan)

6. Future outlook
The impact of changes in the subsidiary on consolidated financial results of the Company for the current
fiscal year is currently under a careful examination. If any revision to results forecast or any fact to bedisclosed arises in the future, the Company will immediately announce them.