SPARX : The Space Frontier Fund Invests in GITAI Japan,Developer of General-Purpose Work Robots for Space

The following is an English version of the official Japanese announcement, which has been given to the Tokyo Stock Exchange and the media in Tokyo, Japan.

March 1, 2021

For Immediate Release

SPARX Group Co., Ltd.

President and Group CEO Shuhei Abe

(TSE1: 8739)

The Space Frontier Fund Invests in GITAI Japan,

Developer of General-Purpose Work Robots for Space -Dramatically cutting space labor costs through space robotics -

TOKYO-March 1, 2021-SPARX Innovation for the Future Co., Ltd. (SIF)-a subsidiary of SPARX Group Co., Ltd. (SPARX; TSE1: 8739)-today announced that its Space Frontier Fund, established in June 2020, has invested in GITAI Japan (GITAI), a developer that is creating a general-purpose work robot to dramatically cut space labor costs. GITAI plans to use the funds raised to promote the use of general-purpose robots in space by developing general-purpose robots for use outside spacecraft, conducting technical trials, and entering the US market.

Portfolio Company Outline

GITAI is a rare space robotics startup in Japan whose mission is to "provide an inexpensive and safe means of working in space." By developing high-performance, versatile robots, the firm aims to provide the safe, inexpensive labor force needed in space, where global developmental competition is fierce. In summer 2021, GITAI plans to conduct a technical trial on the International Space Station (ISS) to verify how the robot it developed performs general-purpose work.

For more details on GITAI, visit its website athttp://gitai.tech/.

Space Frontier Fund Overview

The Space Frontier Fund primarily seeks to support talents and technology development in space-related industries, to foster Japanese space companies that are competitive on the world stage, and to contribute to technological innovation throughout Japan. Under SIF as its manager, the Fund began operations in June 2020 with an initial investment of JPY 8.2 billion from Toyota Motor Corporation, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, and others.

SIF's homepage:https://sparxsif.com/en/

■ For inquiries related to this release, contact:

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