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Date:Monday 18 December 2017
Title:CVC Capital Partner Asia IV to Partner with Riraku, Japan's leading budget relaxation therapy chain

CVC Capital Partner Asia IV to Partner with Riraku, Japan's leading budget relaxation therapy chain

CVC Capital Partners ("CVC") announced today that CVC Asia IV has acquired a majority stake in Riraku, the largest budget relaxation therapy chain operator in Japan. As result of the transaction, CVC Asia IV and the company's founder will become joint shareholders of the company. Yukinori Ideue will continue as Representative Director of Riraku.

Since its founding in 2009, Riraku has achieved sustained growth and now operates 575 outlets across Japan and serves 6.5 million customers each year, making it the largest player in a growing market segment in Japan. Riraku pioneered and developed the low-cost relaxation therapy market in Japan by offering quality relaxation services. The company focuses on suburban, road-side locations, and has grown through new store roll-out and same store sales growth backed by a nationwide network of 28 therapist training centres.

Already a market leader with high customer satisfaction, Riraku aims to grow its network in Japan to around 1,000 outlets and through its partnership with CVC Asia IV enhance its IT systems, and therapist training to offer improved customer service and improved operational efficiency.

Mr. Yukinori Ideue, CEO of Riraku, said "We look forward to partnering with CVC to support the next stage of our growth. Their expertise and financial resources will support our continued success as we seek further expansion in the domestic market."

Atsushi Akaike, Partner and Head of CVC's Tokyo office, said, "Riraku has developed a highly successful business model and we are very pleased to have the opportunity to partner with them. We look forward to working together with their excellent team to help them achieve the next stage in their growth and realize their long-term goals."