C-HAS+ has developed the world’s first health span evaluation system using the nematode C. elegans, enabling both the replacement of animal testing and the rapid acquisition of high-precision data. The SIIFIC Wellness Fund focuses on startups that create quality jobs and foster vibrant living environments in regional Japan. Through this investment, SIIFIC will support C-HAS+ in expanding diverse talent recruitment and creating employment opportunities rooted in local collaboration, while also assisting in the development of internal governance referencing B Corp standards. Together, these efforts aim to contribute to building a sustainable and inclusive regional society.
Investment Overview
SIIF Impact Capital Inc. (SIIFIC; Co-Representatives: Kazu Umeda and Reiri Miura; Headquarters: Shibuya-ku, Tokyo) and the Japan Social Innovation and Investment Foundation (SIIF; Chairman: Shuichi Ohno; Headquarters: Minato-ku, Tokyo) jointly manage the SIIFIC Wellness Fund. On August 13, 2025, the fund made investment into C-HAS+ Co., Ltd. (C-HAS+; CEO: Masahiko Kikuchi; President & COO: Tsuyoshi Shuto; Headquarters: Kumamoto City, Kumamoto Prefecture).
C-HAS+ traces its origins back to 2017, when Kumamoto University and Kumamoto Prefecture were selected for the Ministry of Education, Culture, Sports, Science and Technology’s (MEXT) “Regional Innovation Ecosystem Formation Program (UpRod).” Its core business is a pioneering service that analyzes how food and pharmaceutical ingredients affect health span by using C. elegans as an alternative to animal testing. Despite a short 30-day lifespan, the organism possesses key organs such as the nervous system, intestines, and muscles. By mapping its life cycle to that of humans, C-HAS+ developed the world’s first health span evaluation system, reducing reliance on animal testing while generating high-quality data in a shorter timeframe.
Investment Rationale: Strengthening Communities by Creating Quality Jobs
One of the SIIFIC Wellness Fund’s four investment themes is supporting startups that create quality jobs and foster vibrant, livable environments in Japan’s regions.
Rural areas face the dual challenges of youth outmigration and population aging, leading to declining numbers of skilled workers and weakened social capital. A shortage of workplaces where women and young people can develop expertise and career opportunities further accelerates depopulation.
Against this backdrop, SIIFIC Wellness Fund decided to invest in C-HAS+ for its commitment to:
- Diverse talent recruitment: Proactively hiring specialists, young professionals and women, thereby enhancing inclusion and revitalizing the region.
- Strengthening social capital : Creating a workplace where employees can take pride in their contributions, fostering robust social capital.
Through this investment, the fund will support C-HAS+ in attracting and retaining specialized talent in Kumamoto, ultimately contributing to a society where “everyone can live better.”
Behind the scene : Please visit SIIFIC Newsletter
1) Why we invested in C-HAS+ ISSUE 9 | From Kumamoto to the world: biotech with social impact
2) C-HAS+: Cultivating Local Prosperity ISSUE 10 | The Ecosystem of Education, Employment, and Belonging in Kumamoto
Investment Decision Process
The SIIFIC Wellness Fund employed its impact management system to assess the potential of C-HAS+, including system mapping analysis (Figure 1) to evaluate C-HAS+’s potential effect on the local community and Theory of Change (Figure 2), to visualize its expected impact.
Projected Impact
Short term: Creation of quality jobs in rural areas
Medium term: Establishment of a diverse and fulfilling work environment
Long term: Development of a resilient, interconnected local community with strong social capital
Comments from C-HAS+ Executives
Masahiko Kikuchi, CEO
“C-HAS+ was born out of the UpRod program led by Kumamoto University and Kumamoto Prefecture. As an alumnus of Kumamoto University, I have long believed in the importance of translating academic knowledge into real-world solutions, co-creating value with private enterprises. With our unique Kumamoto-born technology, we have developed an innovative health span evaluation system that reduces animal testing and provides world-leading solutions. With the support of SIIFIC Wellness Fund, we will further create local employment opportunities and provide an environment where young and specialized talent can thrive. We aim to serve as a bridge between academia and industry, contributing to the realization of a sustainable regional society.”
Tsuyoshi Shuto, President & COO
“In addition to my research at Kumamoto University, I served as project manager for the UpRod initiative, working to establish and implement the C-HAS platform. As a researcher at Kumamoto University’s Global Center for Natural Product Research, I have also been engaged in natural product discovery and its industrial applications. C-HAS+ has grown through close collaboration between academia, local enterprises, and government agencies. With this investment, we will further enhance our ability to recruit diverse talent – young professionals, women, and international experts – and leverage Kumamoto’s cutting-edge technology to drive regional revitalization and wellness.”
Hirofumi Kai, CSO
“With a 140-year history, Kumamoto University’s Faculty of Pharmaceutical Sciences has produced numerous leading researchers for academia, industry, and healthcare institutions. The UpRod initiative, launched in 2017, not only nurtured Japan’s first academic project managers but also created a new ecosystem of collaboration with local government and enterprises. As one of its key outcomes, C-HAS+ has now received impact investment from SIIFIC Wellness Fund as a startup aiming to build a corporate foundation where diverse talent can thrive in regional Japan. This investment is of great significance, and our entire team is committed to meeting the expectations placed upon us.”
Future Support
Beyond providing capital, SIIFIC Wellness Fund will deliver hands-on venture capital support. In addition, it will assist C-HAS+ in establishing internal governance aligned with B Corp certification standards, strengthening accountability, transparency, and sustainability.
By drawing on its experience in impact investing and impact measurement and management (IMM), SIIFIC Wellness Fund will continue to drive system-level change in the wellness sector and advance its mission of creating a society where wellness is not a privilege, but a daily norm.
About C-HAS+ Co., Ltd. (C-HAS+)
- Established: April 1, 2019 (as Kumamoto Pharma Inc.)
- Executives: Masahiko Kikuchi (CEO), Tsuyoshi Shuto (President & COO), Hirofumi Kai (CSO)
- Headquarters: Innovation Laboratory 301, 5-1 Oe-Honmachi, Chuo-ku, Kumamoto City, Kumamoto Prefecture
- Employees: 3
- Overview: C-HAS+ is a Kumamoto University-certified venture that inherits technologies and know-how developed under the UpRod regional innovation ecosystem program. It develops pioneering health span evaluation systems, maintains a unique bio-resource bank, and accelerates collaboration with academia and industries in pharmaceuticals, food, and cosmetics.
- Website: https://c-hasplus.co.jp/
About SIIF Impact Capital Inc. (SIIFIC)
- Established: September 8, 2022
- Representatives: Kazuhiro Umeda and Reiri Miura
- Business: Impact investment fund management
- Current Fund: SIIFIC Wellness Fund, focusing on innovative startups in the wellness domain that aim to generate measurable positive social and environmental impact alongside financial returns.
- Website: https://siific.co.jp/
About Japan Social Innovation and Investment Foundation (SIIF)
Founded in 2017 (with roots in the Nippon Foundation’s impact investment research from 2013), SIIF has since promoted impact investing in Japan through research, advocacy, partnerships, and policy engagement. Activities include co-hosting study groups with the Financial Services Agency, publishing reports on impact investment, and convening the GSG National Advisory Board in Japan. SIIF continues to work toward a society where social and economic resources circulate across public, private, and civic boundaries to address Japan’s most pressing challenges.
- Website: https://www.siif.or.jp/
