III-2 · KEY INVESTMENT DRIVERS

Key Investment Drivers

How We Recognise a Patient Mind

This page speaks to how we recognize him.

3 DIMENSIONS OF JUDGMENT

Three vertical axes to be satisfied simultaneously

Scientific Depth

Founding team's academic background (journal IF / citations / academic standing), the irreplaceability of the technology (patent analysis + peer-reviewed publications), and full-process technical due diligence by Kyoto Institute scientists.

·Early stage — at least one SCI publication
·Series A — at least human clinical data
·Series B — at least third-party clinical validation

Strategic Synergy

Synergy with the Group's three business lines (Maison Bijin / Bijin Privé / Toyo Wellness), whether the technology can be absorbed and transformed by the product lines, the complementary relationship with the 80+ patents of the Kyoto Institute, and alignment with the sustainability commitment.

·Can be reciprocated to the Group's product lines
·Forms complementarity with the 80+ patents
·Aligns with the sustainability commitment

Founder Patience

Through 3-5 deep interviews (not PPT evaluations), confirming whether the founder believes in long‑termism, can persevere through a 7-10-year R&D cycle, and aligns with the values of the Group's century-long commitment.

·3-5 deep interviews
·Patience for 7-10 years of R&D
·Aligned with the values of the century-long commitment

WHAT THE GROUP WILL NOT INVEST IN

The boundary is the clarity.

NO. 01
We do not invest in rapid-arbitrage projects (requiring exit within 18 months)
NO. 02
We do not invest in domains unrelated to the core mission (internet / electronics / SaaS)
NO. 03
We do not invest in concept-only projects (no near-term profitability, no strategic value)
NO. 04
We do not invest in domains with blurred ethical boundaries (pseudoscience / animal harm / addictiveness)

INVESTMENT DECISION PROCESS

Three stages, 5 to 10 months.

STAGE I

Preliminary Evaluation

1-3 months

Extended conversations with the founder + preliminary technical assessment by the Kyoto Institute.

Pass rate 18%

STAGE II

In-Depth Due Diligence

3-6 months

Comprehensive technical review + financial DD + strategic synergy assessment.

Pass rate 35%

STAGE III

Board Resolution

1 month

Collective resolution by the Toyo Bijin Capital committee.

Final commitment

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