Notice of Capital and Business Alliance with WEGO Co., Ltd.
- Strategic partnership for mutual use of the two companies' platforms -

Onward Holdings, Co., Ltd. (Headquarters: Chuo-ku, Tokyo; President and CEO: Michinobu Yasumoto; hereinafter referred to as the "Company") is pleased to announce a capital and business alliance with the fashion company WEGO Co., Ltd. (Headquarters: Shibuya-ku, Tokyo; President and Representative Director: Kyosuke Sonoda; hereinafter referred to as "WEGO").

In line with its mission statement, "Enriching and Adding Color to People's Lives while Caring for the Planet," the Onward Group provides customers with valuable products and services in the apparel, lifestyle, and B2B segments.

WEGO is a fashion company that aims to create new value by combining fashion, culture, and lifestyle to add color to the town and the world with the theme of "YOUR FAN." WEGO's main customer base is the Generation Z, who are in their teens and 20s. With 168 stores in leading shopping centers and other commercial facilities across Japan, WEGO boasts high popularity and strong support from the Generation Z.

The Company will become WEGO's shareholder with 20.27% of the total number of its shares issued through a third-party allotment of shares by WEGO. The purpose of this capital and business alliance is to contribute to the business expansion of both the Company and WEGO by combining their respective strengths.

The Company aims to acquire a new customer base by utilizing WEGO's strengths in marketing platforms for Generation Z, while WEGO expects to further develop its business by utilizing the Company's products and production platforms as well as its digital platforms including e-commerce. We believe that this capital and business alliance will generate significant synergies for both companies and realize the expansion and evolution of our businesses, which will lead to the provision of new value to customers.

■ Company profile of WEGO
1) Company name : WEGO Co., Ltd.
2) Representative : Kyosuke Sonoda, President and Representative Director
3) Location : 1-16-3 Ebisu Minami, Shibuya-ku, Tokyo
4) Date of incorporation : June 4, 2018
5) Main business : Planning, manufacturing and sale of clothing, sundries, etc.