Dai ichi Life : Impact Investment in WASSHA Inc.- Contributing to Sustainable Development through Offering an Electric Power Service to Off-Grid Communities in Africa - PDF

June 10, 2022

Impact Investment in WASSHA Inc.

• Contributing to Sustainable Development through Offering an Electric Power Service to Off-Grid
  Communities in Africa -

The Dai-ichi Life Insurance Company, Limited (the "Company"; President and Representative Director: Seiji Inagaki) has invested JPY 300 million in WASSHA Inc. ("WASSHA"; Founder and CEO: Satoshi Akita), a Japanese startup that offers an electric power service in off-grid communities in Africa. This impact investment1 is a part of the Company's ESG investments.

• WASSHA is a startup that has spun off from the University of Tokyo and offers an electric power service to people living in off-grid communities in Africa by utilizing solar power generation.
• Based at KIOSK (retail stores) in Africa, WASSHA offers such equipment as photovoltaic panels and rents LED lanterns charged with solar energy developed by the company at a low price.
• Offering a low-cost electric power service in Africa, which is home to many off-grid communities, is expected not only to solve the issues of fires and respiratory diseases arising from traditional candles and kerosene lamps, but also to enable education and business activities, etc. in the nighttime, thereby contributing to improved living standards for and financial independence of people who live in off-grid communities.

[Social Impact]

	Contribution to			Offering an electric power service through the utilization of solar
	sustainable			power generation improves living standards and realizes financial
	development of Africa			independence in off-grid communities in Africa.

1Impact investment is an investment activities where an investor makes investment decisions with the intent to coexist gaining investment returns and generating social impact (e.g., structural change in society).

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The Company hopes to continue to contribute to well-being (happiness) of all people who can lead prosperous, healthy lives filled with true peace of mind over the generations today and in the future. Through this investment, the Company not only expects investment returns, but will provide capital support for the initiatives of WASSHA, which are expected to contribute to sustainable development of the African region (social impact) toward the realization of well-being. Further, the Company will continuously monitor the progress of these initiatives.

As a responsible institutional investor, the Company will continue to actively engage in ESG investment to realize a sustainable society as well as to improve its investment returns through sophisticated and diverse investment methods.

Mr. Satoshi Akita, Founder and CEO of WASSHA Inc., made the following remarks:

	Founded as a startup that spun off from the University of Tokyo in 2013, we uphold "Power to
	the people" as our mission and have offered an electric power service to low-income populations
	in off-grid communities in Africa by utilizing solar power generation. In collaboration with local
	retailers, we have expanded regional coverage and currently operate in the following three
	countries: Tanzania, Uganda, and Mozambique. We not only improve access to electricity, but
	also contribute to increased incomes, by, for example, making it possible for our users who work
	as street vendors to continue their business at night. In the future, we will also aim to utilize our
	retail network to improve access to various services other than electricity and realize a world
	with diverse forms of development and free from inequality stemming from national and regional
	differences. We are deeply heartened by the support we received on this occasion from the Dai-
	ichi Life Insurance Company, which has made a large number of impact investments. Under
	its guidance, we will push forward with the creation of further impact.
[Company Profile]
Trade Name	WASSHA Inc.
Head Office	305 University of Tokyo Entrepreneur Plaza 7-3-1, Hongo, Bunkyo, Tokyo
Representative	Satoshi Akita, Founder and CEO
Established	November 2013
Business	・Offering an electric power service using IoT technology to people in off-grid communities
Description	・Platform business by using the KIOSK (retail stores) network

Dai-ichi Life's Impact Investment History

	Headline		Release Date		URL
	Dai-ichi Life to Engage in Impact Investment				https://www.dai-ichi-
	- First Impact Investment in Gojo & Company, Inc. which provides support for		Oct. 23, 2017		life.co.jp/english/news_release/2017/pd
	micro-finance business -				f/index_012.pdf
	Dai-ichi Life to Invest in Spiber Inc.				https://www.dai-ichi-
	- Second Impact Investment through Support for Development of New-Generation		Oct. 23, 2017		life.co.jp/company/news/pdf/2017_044.
	BioMaterials -				pdf
	Dai-ichi Life to Investment in CureApp, Inc.				https://www.dai-ichi-
		Feb. 26, 2018		life.co.jp/english/news_release/2017/pd
	- Third Impact Investment through Support for Treatment Applications -
				f/index_018.pdf
	Dai-ichi Life to Impact Invest in CROWD CREDIT, Inc.				https://www.dai-ichi-
	- Energize Business Activities in Developing Countries to Alleviate the Global		Apr. 5, 2018		life.co.jp/company/news/pdf/2018_002.
	SupplyDemand Gap for Funds -				pdf
2

Dai-ichi Life to Impact Invest in SUSMED, Inc.		https://www.dai-ichi-
- Promote the Widespread Adoption of Non-Drug Therapies through Insomnia	June 4, 2018	life.co.jp/company/news/pdf/2018_008.
Therapy Apps -		pdf
Dai-ichi Life to Impact Investment in MELTIN MMI		https://www.dai-ichi-
- Mitigating Accidents Caused by Work in Hazardous Environments by MELTIN's	Oct. 17, 2018	life.co.jp/english/news_release/2018/pd
Avatar Robots -		f/index_004.pdf
Dai-ichi Life to Impact Investment in MOLCURE Inc.		https://www.dai-ichi-
- Shortening of pharmaceutical development through the world's first antibody	Nov. 27, 2018	life.co.jp/english/news_release/2018/pd
discovery platform utilizing AI -		f/index_007.pdf
Dai-ichi Life to Impact Invest in QD Laser		https://www.dai-ichi-
- World's First Eyewear that Employs State-of-the-Art Laser Technology Improves	Dec. 12, 2018	life.co.jp/english/news_release/2018/pd
Quality of Life for Low-Vision Patients -		f/index_010.pdf
Dai-ichi Life to Impact Invest in Challenergy Inc.		https://www.dai-ichi-
- Helping to reduce CO2 emissions using the world's first wind turbine capable of	Feb. 28, 2019	life.co.jp/english/news_release/2018/pd
generating electricity even in typhoons -		f/index_012.pdf
Dai-ichi Life to Impact Invest in Venture Fund managed by Energy & Environment		https://www.dai-ichi-
Investment, Inc.
Mar. 20, 2019	life.co.jp/english/news_release/2018/pd
- Japan's Only Independent Venture Capital Focused on the Energy and Resource
	f/index_015.pdf
Related Sectors -
Impact Investment in CureApp and NeuroTrack		https://www.dai-ichi-
- Extending healthy life expectancy and improve quality of life through synergies	July 5, 2019	life.co.jp/english/news_release/2019/pd
between investments and life insurance -		f/index_008.pdf
Dai-ichi Life to Impact Invest in Integral Geometry Science		https://www.dai-ichi-
- Contributing to a reduction in breast cancer deaths through the world's first high	Sep. 13, 2019	life.co.jp/english/news_release/2019/pd
precision breast cancer visualizing system -		f/index_015.pdf
Dai-ichi Life to Impact Invest in UniFa		https://www.dai-ichi-
- Contributing to Resolving the Lengthy Daycare Waiting List Problem Caused by a
Sep. 27, 2019	life.co.jp/english/news_release/2019/pd
Shortage of Nursery Care Workers by Introducing IoT and AI to Daycare Operations
	f/index_014.pdf
-
Dai-ichi Life to Impact Invest in Life is Tech, Inc.		https://www.dai-ichi-
- Contributing to Solving the IT Talent Shortage with IT and Programming	Nov. 15, 2019	life.co.jp/english/news_release/2019/pd
Education Services -		f/index_018.pdf
Dai-ichi Life to Impact Invest in World's First Anti-Smoking Social Impact Bond		https://www.dai-ichi-
- Support Social Impact Creator and Investment Recipient CureApp, through	Nov. 29, 2019	life.co.jp/english/news_release/2019/pd
Investment in Anti-Smoking Project -		f/index_021.pdf
Dai-ichi Life to Impact Invest in Modulus Discovery, Inc.		https://www.dai-ichi-
- Contributing to Realizing Accessible Healthcare for All by Cutting Development	May 13, 2020	life.co.jp/english/news_release/2020/pd
Timelines and Costs of Pharmaceuticals -		f/index_003.pdf
Impact Investment in Metcela Inc.		https://www.dai-ichi-
- Contributing to Extending Healthy Life Expectancy of Patients with Heart Failure	Jan. 4, 2021	life.co.jp/english/news_release/2020/pd
through the Development and Provision of a New Treatment -		f/index_017.pdf
Impact Investment in Sharing Energy Co., Ltd.		https://www.dai-ichi-
- Contributing to CO2 emission reduction through distributed renewable energy	Feb. 15, 2021	life.co.jp/english/news_release/2020/pd
power generation for residential solar power -		f/index_021.pdf
Impact Investment in GITAI Japan		https://www.dai-ichi-
- Contributing to Economic Growth through Promotion of Space Development by	Mar. 1, 2021	life.co.jp/english/news_release/2020/pd
Means of R&D for Space Worker Robots -		f/index_024.pdf
Impact Investment in Noile-Immune Biotech, Inc.		https://www.dai-ichi-
- Extending Healthy Life Expectancy through Development and Provision of Next-	Mar. 22, 2021	life.co.jp/english/news_release/2020/pd
Generation Cancer Immunotherapy -		f/index_028.pdf
Investment in Climate Infrastructure Fund for Emerging Countries		https://www.dai-ichi-
- Contributing to Resolving Climate Change Challenges Through Joint	Jul. 8, 2021	life.co.jp/english/news_release/2021/pd
Public/Private Support for Development of a Low Carbon Economy -		f/index_003.pdf
Impact Investment in RIVERFIELD Inc.		https://www.dai-ichi-
- Contributing to Improving Patients' Quality of Life by Lessening Burden on Mind	Jul. 30, 2021	life.co.jp/english/news_release/2021/pd
and Body Through Usage of Surgery Support Robots -		f/index_005.pdf
Impact Investment in PaMeLa Co., Ltd.		https://www.dai-ichi-
- Contributing to Improving Patients' Quality of Life through Development of	Sep. 29, 2021	life.co.jp/english/news_release/2021/pd
Medical Device That "Visualizes" Pain Using Brain Waves -		f/index_008.pdf

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