Shuei Yobiko Co. Ltd. acquired an unknown minority stake in Higashinihongakuin Co., Ltd.

SHUEI YOBIKO Co., Ltd. is a Japan-based company mainly engaged in the provision of learning guidance. The Company operates through three business segments. Elementary and Junior High School segment is engaged in the learning and advancement guidance for first grade to third grade, the provision of children English classes, childcare, seminars and mock tests, the production of high school entrance examination preparation questions and consignment sale to bookstores. The High School segment is engaged in the learning and advancement guidance for first-year to third-year high school students and high school graduates. The Other Educational segment is engaged in the distribution of video educational content for first grade to third grade junior and senior high school students, the sale of video educational content to other private schools, and the franchise business.