Company Overview

1. Company History WaveLock Holdings <7940> originated from Japan WaveLock Co., Ltd., which was established in 1964 with equal investment from Nissho Co., Ltd. (currently Sojitz <2768>), Japan Carbide Industry <4064>, and Maruto Chemical Industry Co., Ltd. (currently Takeda Chemical Industries, Ltd.) for the introduction of the WaveLock technology regarding fiber-reinforced plastic sheet from Italy. The WaveLock method is a method of manufacturing a sandwich structure by synthesize fibers in a wave shape between two plastic films and fixing (lock) them. Resin processing sheets made by this method have the characteristics of not only elasticity but also a significant increase in physical strength. In the 1960s, vinyl products used in agriculture were weak in strength and susceptible to tearing, and the founder, Hiromi Kinebuchi, saw the need for WaveLock products in the same field and aimed to introduce the technology from agricultural raincoats. After that, the market expanded to include vinyl greenhouses, raincoats, industrial materials, and more, and the business grew. The operating income of products worth 10-30 billion yen were respectively 401/1288/60 million yen.

Aoba-BBT <2464> has the vision of "Lifetime Empowerment" to provide a learning platform where individuals can continuously update themselves. They offer education with the mission of fostering "world-leading leaders" who have fundamental skills that cannot be replaced by AI, targeting university students, working adults, and executives, through online, real-life, and hybrid formats of education. Fundamental abilities that cannot be replaced by AI include leadership, creativity, research skills, high communication ability in English, as well as the ability to use technology to ally with AI, problem-solving skills, and the ability to identify issues. They focus on providing education services that nurture these abilities.

Established in 1998, Aoba-BBT started the BBT (Business Breakthrough) University Graduate School in 2005, where one can obtain an MBA through online education. In 2010, they also established the BBT University School of Business online. Furthermore, to broaden the age range of their educational services, in 2013, they started the subsidiary operation of (株) Aoba International Educational Systems, which runs AJIS (located in Koganei, Nerima Ward, Aobadai, Meguro Ward). This marked the beginning of expanding their business areas through mergers and acquisitions.

At Aoba, in 2014, they operate the 'JCQ Bilingual Kindergarten' (currently AJB - Aoba Japan Bilingual Preschool) under Modern Early Childhood Basic Education Development (株). In 2015, they operate 'Summerhill International School' under Summerhill International (株). In 2019, they successively acquired 'Little Angels Gakuen' (currently Musashi International School Tokyo - MIST) operated by Little Angels Gakuen (株) (currently (株)Musashi International Education). In the same company, in 2019, they conducted IT management skills training and educational material development through IT Planners Japan Asia Pacific (株) (ITPJ) and in 2021, they operationalized the subsidiary of children's online English conversation school, operating (株) Blending Japan (currently (株)Aoba-BBT Global). They continue to grow by expanding their business areas.

*1 Merged with Aoba in March 2021.

*2 Merged with ITPJ in April 2022.

(Written by FISCO guest analyst, Jo Sato)