Invested in Ocean, Inc., which operates a next-generation tax-free platform based on a refund model.

Yamato Holdings Co., Ltd. (Headquarters: Chuo-ku, Tokyo; President and CEO: Toshiyuki Sakurai) has made an investment through the KURONEKO Innovation Fund II (hereinafter “KIF II”) in Ocean Co., Ltd. (Headquarters: Chuo-ku, Tokyo; Representative Director: Ryo Hoshino;hereinafter “Ocean”).

Effective Sunday, November 1, 2026, the consumption tax exemption system for inbound tourists and duty-free retailers nationwide will shift from the conventional “tax-free at the time of purchase” system to the “refund system^_* .” Consequently, businesses are required to prepare their systems and establish operational frameworks to comply with the new system.

Ocean is a startup that operates “Ocean Tax Refund,” a next-generation refund-based tax-free platform. With “Ocean Tax Refund,” visitors to Japan can complete the refund process online via Ocean’s website or social media services commonly used in various countries and regions.

Merchants can implement the system without incurring initial or ongoing costs, while minimizing the additional burden on their existing tax-free procedures. The platform has been well-received for its ability to seamlessly handle the entire process—from submitting tax-free application data to the National Tax Agency to issuing refunds to visitors to Japan—and is already being adopted by various merchants across the country.

Furthermore, the company aims to expand the service in the future into a marketing platform for merchants that leverages purchase data from tourists visiting Japan.

KIF II made this investment after recognizing Ocean’s advanced solutions—which rapidly adapt to revisions in the tax-free system—and its scalability within the expanding inbound tourism market.Through this investment, the Yamato Group will explore opportunities for sharing insights and creating synergies in the inbound tourism sector, thereby supporting Ocean’s business growth.

* A system under which tourists visiting Japan pay consumption tax at the time of purchase and receive a refund at the airport or other locations upon departure