The Company operates its main business under the brand name “Dr.stretch”, founded in 2010.  Dr.stretch offers one-on-one assisted stretch services at its own or franchisees’ outlet studios.  Dr.stretch is the pioneer and leader in the assisted stretch market in Japan, with dominant market share, and is the third largest stretch studio chain globally, with over 200 studios in Japan and globally including in Singapore, Taiwan, Malaysia, and the UAE, with further market entries underway.

Founder Succession, Unlocking Growth and Cross Cultural Solutions.  Longreach acquired a majority interest in nobitel inc. by buying shares from Mr. Masahiro Kurokawa, the founder and CEO, and from minority shareholders, combined with acapital injection in the form of convertible preferred shares.  The transaction was closed in August 2023.  In December 2025, nobitel completed the bolt-on acquisition of DSGN Co., Ltd., which was formed through the integration of the Dr.stretch business divisions of two franchise operators with locations across Japan.

• Accelerating new stores openings funded by capital injection from Longreach, and reflecting significant growth potential and white space in Japan
• Improving operational efficiency through digitalization, optimized customer scheduling across opening hours, dynamic pricing and package personalization
• Strengthening of web based marketing by further investment in advertising to optimize customer acquisition cost
• Capturing significant expansion potential outside Japan (especially SE Asia markets) through Longreach’s global network
• Enhancing corporate governance, including new KPIs and performance aligned HR evaluation/compensation
• Developing new businesses including non retail platforms and B2B business

Japan Systems was a subsidiary of DXC Technology and a JASDAQ listed public company prior to Longreach’s investment. The company is a system integrator and is engaged in three businesses. The Enterprise business provides system integration services to multiple sectors such as financial, telecom and energy. The Public sector business provides to municipalities its own proprietary accounting software, “FAST”, and related system engineering services. The NetCam Systems business provides its own proprietary (i) mammography viewer software and (ii) video management system software for network cameras.

Corporate Divestiture, Going Private, and Cross Cultural Solutions. Non-core subsidiary divestment from a US IT conglomerate, DXC Technology. The investment opportunity was developed exclusively, given Longreach’ global team capabilities and our track record in carve-outs as well as tender offer transactions, along with our track record in value creation with portfolio companies in the business service sector. 100% of voting rights are held by LRG while DXC co-invested 21% through a pension fund LP.

• Management upgrade including new CEO
• Corporate governance enhancement through committee-based organizational structure
• Revenue expansion and unit price improvement through various strategic initiatives
• Cost reduction opportunities through business process re-engineering and streamlining indirect costs
• Scale-up through aggressive acquisition of engineers and add-on M&A
• Product portfolio expansion through R&D and M&A
  

First Kitchen, a subsidiary of Suntory, operates and franchises a QSR chain in Japan providing hamburger, pasta, french-fries, salad and dessert. It operates approximately 130 directly owned and franchise stores in Japan.

Corporate Divestiture and Cross Cultural Solutions. Longreach acquired 100% of First Kitchen from Suntory together with becoming the sole Japan franchisee for Wendy’s, in combination to create the new “Wendy’s First Kitchen” QSR chain and growth strategy.

• Core growth strategy of converting the FK stores into WFK stores, creating platform for restaurant footprint growth while structurally increasing revenues and margins
• Installment of KIOSKs, development of smartphone applications and branding/promotion to enhance user experience
• Leverage brand value and promote differentiated product development and marketing strategy
• Improve operations and service levels as well as enhance cost efficiencies and reduce food loss rate
• New C-Suite management team (CEO, CFO) with deep industry expertise
• Enhanced corporate governance and culture, including new KPIs and performance aligned HR evaluation/compensation

Primo specializes in the production and retail of semi-customized bridal jewelry, including engagement rings and wedding rings. At investment, the Company operated three brands, I-PRIMO, Lazare Diamond and SELEXIA, and has a total of 88 stores in Japan (76 stores), Taiwan (10 stores) and Hong Kong (2 stores). The Company has a strong presence in Japan, with the leading position in engagement and wedding ring sales, and has a track record of success in overseas expansion into Taiwan and Hong Kong.

Unlocking Growth. Longreach acquired a majority stake with the current management including the CEO reinvesting. Transaction was closed in January 2015.

• Further revenue expansion in Japan

• ~Continuous new store openings and renovation / relocation of existing stores to increase sales
• ~In addition to raising awareness, strengthening the ability to attract customers to stores by strengthening digital marketing

• Further business growth in Taiwan and Hong Kong as a "high quality Japan brand"

• ~Stores increased to 4 stores in Hong Kong and 11 stores in Taiwan at time of exit
• ~Supplying human resources responsible for business growth in Mainland China

• New entry / aggressive development into Mainland China market for further growth

• ~Store development in Mainland China started in 2016 and increased to 15 stores in Shanghai, Hangzhou, Shenzhen, Beijing, Chengdu, Suzhou, Chongqing, Wuhan and Tianjin
• ~Successful digital marketing and T-Mall store opening
• ~Achieved early profitability while aggressively expanding stores
• ~Overseas sales grew to exceed 30% of sales at time of exit

• Reinforcement of management personnel for business growth including Mainland China

Founded as a joint venture between McDonald’s Corporation and Den Fujita in 1971.  Japan’s largest fast food restaurant chain with JPY 395 bn of revenues and over 3,700 stores, publicly listed at c. JPY 300bn market cap in July 2005, when business restructuring was in process under the new CEO to improve low growth and margins.  Then owned by the McDonald’s Corporation (49.99%), Fujita family (26.91%) and public shareholders (23.10%).

Founder Succession and Cross Cultural Solutions. Fujita family seeking exit but their shares represented 18 months trading volume - highly illiquid stock with high valuation. McDonald’s Corporation wished to facilitate the Fujita exit while keeping the McDonald’s Japan turnaround focus on track. Control buyout impossible given McDonald’s strategic shareholding requirement, and vanilla equity investment impossible given high valuation and lack of liquidity. Through exclusive negotiations with McDonald’s and the Fujita family, Longreach developed a unique structured minority investment approach that solved for the deal constraints and generated high returns, enabling the investment in July 2005.

• Longreach devised embedded exit structure to allow for minority investment

• ~Fully financed and hedged share acquisition through mandatory exchangeable note placement with entry price into the stock at deep discount to market price
• ~Combined up-front distribution and further distributions realized through profit share structure, reflecting strong turnaround of the McDonald’s Japan business

• All parties achieved objectives

• ~Fujita family realized complete exit with full liquidity
• ~McDonald’s achieved stable shareholding transition to support business turnaround
• ~Longreach secured outstanding investment return and built valuable relationships