LivEQuality Ooya Co., Ltd. (Headquarters: Nagoya, Aichi Prefecture; CEO: Takuya Okamoto; hereinafter "the Company"), a pioneer in affordable housing focused on supporting households with children—primarily single-parent families who face difficulties renting homes due to economic hardship—has completed a fundraising round through a third-party allotment of new shares (Class A Preferred Stock) to the Social Innovation and Investment Foundation (Location: Minato-ku, Tokyo; Chair: Shuichi Ohno; hereinafter "SIIF").

This funding is intended to strengthen the operational foundation of the "Tokyo Metropolitan Government Public-Private Partnership Affordable Housing Supply Promotion Fund," for which the Company has been selected as the General Partner (GP). This scheme utilizes a "GP Investment-Linked Tracking Stock," the first of its kind in Japan (*1).

*1: According to internal research as of February 2026. This is the first domestic case of tracking stock (also known as performance-linked stock) issued with GP investment equity in a social impact investment fund as the underlying asset.

For more information about ”Tokyo Metropolitan Government Public-Private Partnership Affordable Housing Supply Promotion Fund” please visit here. https://www.metro.tokyo.lg.jp/information/press/2026/02/2026022014

Background: Track Record in Nagoya and Expansion to Tokyo

Since its founding, the Company has built a private-sector residential support model in Nagoya City that combines "housing" with "connection." Specifically, our efforts in creating environments where single-mother households—who are often economically and socially isolated—can live with peace of mind have been recognized as a pioneering case in the domestic affordable housing sector.

Based on this track record, the Company was selected as the GP for the Tokyo Metropolitan Government’s Public-Private Partnership Affordable Housing Fund. Consequently, to address urban challenges such as skyrocketing rents and the need for environments conducive to child-rearing, we are expanding our support target from "single-mother households" to "child-rearing households" at large and extending our service area to the Greater Tokyo Area.

Overview of the GP Investment-Linked Tracking Stock

• Funding Method: Preferred Stock

• Amount Issued: 50 million JPY

• Date of Issuance: February 13, 2026

• Use of Funds: GP investment in the Tokyo Metropolitan Government-led Public-Private Partnership Affordable Housing Supply Promotion Fund.

Japan’s First GP Investment-Linked Tracking Stock

This fundraising is a leading example of "Blended Finance," merging public funds (Tokyo Metropolitan Government Fund), risk capital from a private foundation (SIIF), and capital from private investors. By having the public sector accept lower returns and the foundation sector play a role in mitigating risk, the scheme achieves "concessional capital" overall, fulfilling the goals of the affordable housing fund without excessively sacrificing returns for private investors. This innovative scheme uses the Company’s "on-the-ground practical knowledge" as a catalyst to connect different types of capital and circulate them efficiently toward solving social issues.

*2: Tracking Stock – Shares where dividends and economic returns are linked to the performance of a specific business division or project rather than the entire company. In this case, returns are designed to link exclusively to the distributions obtained from the GP investment (which ranks as the most junior/first-loss position) in the aforementioned fund.

Key Highlights of This Initiative

1. Breaking the Bottleneck in Social Finance

When social startups like ours form public-private partnership funds on the scale of several billion yen, securing the "GP Investment" (the operator’s own risk money), which acts as the most junior equity, can be a financial barrier.

By having SIIF finance this GP portion through tracking stock, we have established a groundbreaking scheme in Japan’s impact investing landscape. This model enables mission-driven players with 'on-the-ground expertise' to lead large-scale, government-led funds

2. Impact Governance to Prevent Mission Drift

To ensure that our core social mission—restoring dignity, rebuilding lives, and promoting economic independence through housing support—is not compromised during business expansion, the contract includes strict "Anti-Mission Drift" clauses. The goal is to build a structure that maintains a deep focus on the residents as the top management priority while highly balancing economic rationality with social impact.

3. Driving System Change Across the Industry

The strategic agreement signed alongside this funding includes initiatives to improve the environment for the spread of affordable housing. We will share our expertise in "Japanese-style affordable housing" (combining housing and social connection) and contribute to policy discussions and standardization. This will help form an ecosystem where affordable housing functions as sustainable "social infrastructure."

Comment from Nanako Kudo, Executive Director of Social Innovation and Investment Foundation

LivEQuality Ooya’s initiatives in Nagoya have provided new options for households that previously lacked a safety net in the rental market. We see this project as a vital step in expanding that model from a local practice into a sustainable social system. Through this investment, SIIF aims to contribute to structural solutions for family inequality rooted in housing and to challenge the very nature of the housing market.

Comment from Takuya Okamoto, CEO of LivEQuality Ooya Co., Ltd.

“Housing and connection change lives, and change society.” What we learned from our business in Nagoya is that if people have a home and a supportive community, they can restart their lives as many times as they need. Being selected as the GP for Tokyo’s fund gives us the opportunity to extend this to all child-rearing households in the capital.

Even as our scope and area grow, our 'gaze toward the residents' remains unchanged. We believe that because we have stood by those in the most difficult circumstances, we can respond to the diverse struggles of families in Tokyo. SIIF is the partner that helped us overcome the financial barrier of the junior risk position with the completely new idea of 'GP-linked tracking stock.' Together with such a reliable partner, we will strive toward a society where everyone can live with peace of mind.

About LivEQuality Ooya

LivEQuality Ooya Co., Ltd. provides affordable, comfortable housing and social connections to those experiencing housing insecurity. We operate "Japanese affordable housing" that pursues both economic and social value.

In Japan, 1.2 million single-mother households face a grueling reality, marked by a 48% relative poverty rate and an average monthly income of just 230,000 yen (appx 1,450 USD). At the heart of this crisis lies the 'housing problem.' A stable address is often a prerequisite for government support, yet without childcare, these mothers cannot work—and without steady work, they cannot pass the screening to rent a home. This negative spiral creates a systemic barrier to independence. While public housing remains highly competitive, low-cost private options are frequently dilapidated or located far from essential employment opportunities.

LivEQuality Ooya solves this by purchasing well-located urban buildings, renovating them to maintain overall profitability, and leasing a portion of the units to single mothers at below-market rates. To date, we have supported 32 households (77 people). Through clean, convenient rooms near job opportunities and tailored support, the employment rate of our residents (after six months) exceeds 80%. Through LivEQuality’s support, single mothers are carving a pathway to independence—securing employment, rebuilding their daily lives, and finalizing legal divorce proceedings.

Company Profile

• Name: LivEQuality Ooya Co., Ltd.

• Location: 1-11-3 Chitose, Atsuta-ku, Nagoya, Aichi Prefecture

• Established: November 2022

• Capital: 278.01 million JPY (including capital reserves)

• CEO: Takuya Okamoto

• URL: https://livequality.co.jp/ooya

Translated by Kei Eriksen, Global Partnership Manager at LivEQuality

> For inquiries regarding global partnerships or our affordable housing model, please feel free to reach out.