Notice on Establishment of a Joint Venture by S Trading Co., Ltd. and BLEZ ASIA Co.,Ltd.

We are pleased to announce that we have established a joint venture company, "SUGI BLEZ (THAILAND) CO.,LTD." in partnership with S Trading Co., Ltd., a consolidated subsidiary of Sugi Holdings Co., Ltd., and its subsidiary, SUGI BLEZ HOLDINGS (THAILAND) CO., LTD. (President and Representative Director: Takeshi Yamamoto). The joint venture is located in Bangkok, Thailand.

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■　Background and purpose of the joint venture

Our group, BLEZ ASIA, was founded in 2012 with the mission of "supporting health through the highest quality medical services."

Over the past 14 years, we have expanded our operations in Bangkok to include 24 pharmacies, 2 general medical clinics, 1 dental clinic, 1 animal clinic, and 1 Thai massage clinic, operating a total of approximately 30 locations, including online stores. In January 2024, we also opened our first store in Japan, located in Asakusa, Tokyo.

Beyond our physical locations, we have developed and operate specialized software for the healthcare industry, including a POS inventory management system for pharmacies, the pharmacist job search site "Pharma-JOB," and the hospital matching service "Medical Concierge."

In the healthcare-related business, the company also develops and operates a POS inventory management system specialized for the pharmacy business, Pharma-JOB, a job site for pharmacists in Thailand, and Medical Concierge, a hospital matching search service.

Since FY2020, we have developed a wide range of businesses, including OEM manufacturing of healthcare products, registration for Thai FDA application, import and sales, and have established ourselves as a company that supports the local healthcare infrastructure. Leveraging this track record, we have registered and imported approximately 600 Thai FDA products to date, and are involved in the wholesale of many products to major Japanese retailers (convenience stores, supermarkets, department stores, etc.) and major local retailers, in addition to sales at the Group's own stores. We also play a role as a bridge between Japan and Thailand by proactively planning and managing healthcare-related events in collaboration with Japanese local governments and various companies.

S Trading's parent company, Sugi Holdings Co., Ltd., is a leading healthcare group in Japan with approximately 2,300 stores. With a strong focus on pharmacies co-located within drugstores, the company employs approximately 5,000 pharmacists, 1,100 beauty advisors, and 600 registered dietitians. Utilizing the extensive expertise and in-house product supply cultivated in Japan, Sugi Holdings is actively expanding into the Asian market. In 2024, the company partnered with PTT Oil and Retail Business Public Co.,Ltd. to supply products for its new retail formats, catering to the diverse needs of Thai consumers.

This joint venture aims to combine the strengths of both companies to drive the healthcare business in Thailand more effectively and powerfully. By integrating S Trading's product supply and drugstore management know-how with BLEZ ASIA's robust distribution network and reputation in Thailand, we will maximize synergies to expand our healthcare business in Thailand and explore new opportunities in surrounding ASEAN countries, including Myanmar and Laos.

Overview of the joint venture

【Outline of SUGI BLEZ (THAILAND) CO.,LTD.】
Company name: SUGI BLEZ (THAILAND) CO.
Location: 318/23 - 318/26 Floor 3, Area 1, Soi Sukhumvit 22, Khlong Toei Sub-district, Khlong Toei District, Bangkok Province, 10110 THAILAND
Representative: Chief Executive Officer CEO Naoki Iida
Business description: Product Application Registration Service / Import・Wholesale business

Overview of the companies involved

【Outline of SUGI BLEZ HOLDINGS (THAILAND) CO., LTD】
Company name: SUGI BLEZ HOLDINGS (THAILAND) CO., LTD
Establishment: 2025
Location: 318/23 - 318/26 Floor 3, Area 1, Soi Sukhumvit 22, Khlong Toei Sub- district, Khlong Toei District, Bangkok Province, 10110 THAILAND
Representative: Tsuyoshi Yamamoto, Representative Director and President
Business description: Business management and operation of the Subsidiary

【Outline of S Trading Co.,Ltd.】
Company name: S Trading Co., Ltd.
Year founded: 2020
Location: 4th floor, Hilltop Kanda Building, 1-7-6 Kajicho, Chiyoda-ku, Tokyo 101-0044
Representative: Tsuyoshi Yamamoto, Representative Director and President
U R L : https://www.strading.co.jp/
Business description: Trading business (import and export of pharmaceuticals, health foods, cosmetics, daily necessities, etc.) Wholesale business in Japan,
Retail support business, Cross-border E-commerce business

【Outline of BLEZ ASIA Co.,Ltd.】
Company name: BLEZ ASIA Co.,Ltd.
Year founded: 2012
Location: 415 Sukhumvit Rd.,Klongtoey Nua, Wattana, Bangkok 10110 THAILAND
Representative: Chief Executive Officer CEO Naoki Iida
U R L : https://blez-web.com/
Business description: Retail（Pharmaceuticals）／Wholesale of pharmaceuticals／Clinic／ Import and export of health cares