Detailed Description of Portfolio Companies of Fund IV

HITOWA Holdings Co., Ltd.

Features Operating Nursing care business, Childcare business and Franchising business of Housecleaning / Visiting massage services, etc.
Investment Pattern Business Succession
Secondary Buyout
Investment Theme Polaris intends to achieve HITOWA’s continued growth and reinforce its strength by acquiring more franchisees of FC business, the biggest growth driver, increasing per-FC sales through improving repeating customer ratio via proactive marketing and developing new peripheral businesses as well as a new pricing strategy in nursing care segment where market growth is expected, in a collaboration with Polaris’s existing investment companies where possible. In preparation for initial public offering, Polaris also plans to strengthen HITOWA’s corporate governance through dispatching of directors and officers.