Sustainability Governance

Sustainability Governance

MARUI GROUP’s Definition of Corporate Value

Expansion of Stakeholder Interests (Happiness) through Lifetime Value

When formulating its long-term vision for 2050, MARUI GROUP included future generations alongside the prior five ringsof stakeholders it emphasized. The introduction of this sixth ring of stakeholders is a declaration of MARUI GROUP’s
commitment to the interests of both current and future generations.
The interests of current generations are often thought to be at odds with the interests of future generations. To transcend this dichotomy, MARUI GROUP has embraced the concept of lifetime value, which entails steady, ongoing increases in value without overemphasizing the interests of current or future generations. MARUI GROUP’s co-creation
sustainability management aims to achieve harmony between, and expand the interests (happiness) of, the six rings ofstakeholders to create new value.

Six Rings of Stakeholder Governance Including Future Generations

Customers

Steady Growth in EPS through Business Strategies

Sustainability Premium

MARUI GROUP began reforming its earnings structure in
2014. This reform saw us move away from a structure dependent on period earnings to adopt an earnings structure
promising steady growth in earnings per share (EPS).
This was achieved by transitioning to a business model
centered on recurring earnings. Later, in 2016, we embarked
on full-fledged ESG initiatives. As a result, MARUI GROUP’s
stock price was over 2.2 times higher on March 31, 2018,
than on March 31, 2013, which was higher than the rateof increase for the Tokyo Stock Price Index average andexceeded the growth rate for EPS over the same five-year
period by approximately 30 percentage points. The premium
apparent in the difference between the Company’s stock
price and EPS is thought to be a reflection of equity
markets’ high evaluation of our “pre-financial” information, or, in other words, our ESG initiatives.

MARUI GROUP has adopted lifetime value (LTV) as an­indicator of the earnings from its sharing businesses,
its commercial facility management businesses, and its
cumulative investment and other asset building businesses.
The concept this indicator represents was expanded for
application as an indicator of corporate value for MARUIGROUP’s three businesses for transcending dichotomies.
MARUI GROUP has proceeded to evolve its co-creation
management into co-creation sustainability management
to eliminate the negative aspects of operations throughESG management while also growing LTV by creating new
businesses in the three aforementioned areas in order toexpand the interests (happiness) of all people. Throughthese efforts, we will endeavor to generate a greater­sustainability premium on top of EPS.

Expansion of Interests (Happiness) of Six Rings of Stakeholders

Business
partners

Investors

Sustainability
premium

MARUI GROUP’s stock priceMARUI GROUP’s EPS
March 31, 2013, indexed to 100■■

Expansion of
stakeholderinterests(Happiness)

Stock price 222
Approximately 30ppt
ESG premiumCommunities
and Society

Employees

EPS 193

Expansion of interests(happiness)of six ringsof stakeholders

Futuregenerations

36

VISION BOOK 2050

LTV = Expansion of interests (happiness)of all people based on
three long-term targets
Elimination of negative
aspects of operations
through ESG management100
2013.32016.32018.3Business Structure Transformation

Co-Creation Management

Co-Creation Sustainability Management

Steady EPS growth

Elimination of negative aspects of operations
through ESG management = EPS + ESG premiumInterests (Happiness) = EPS + Sustainability premium

VISION BOOK 2050

37

Sustainability Governance

Sustainability GovernanceIntroduction of Sustainability Targets for Medium-to-Long-Term Performance-Linked Compensation

Establishment of New Sustainability Advisory Board

Director compensation is to be set at a level that will
provide motivation for directors to perform their duties ofmaking management decisions and providing supervisory functions and is to be decided by the Nominating
and Compensation Committee. Compensation for directors includes fixed basic compensation, performancelinked bonuses based on the performance of theCompany in a given fiscal year, and performance-linked
stock-based compensation based on the medium-tolong-term performance of the Company. The portion ofcompensation linked to performance is meant to provide
incentive for pursuing sustainable growth.
Performance-linked bonuses will be set as an
amount equivalent to 10/90 of the compensation of directors for each fiscal year and will be adjusted upward
or downward by as much as 10% based on the degree ofaccomplishment of the Company’s consolidated operating income target for the respective fiscal year. As for
performance-linked stock-based compensation,
directors will be awarded points based on their rank ineach of the fiscal years ending March 31, 2017–2019.
These points will then be adjusted via a coefficient within
the range of 0% to 100% determined based on progress
toward targets for three focus KPIs (return on equity,
return on invested capital, and EPS) in the fiscal year
ending March 31, 2019. Shares of the Company’s stock
will then be allocated based on the aggregate total ofpoints post-adjustment.
In light of the upcoming conclusion of the first period towhich medium-to-long-term incentives are linked in thefiscal year ending March 31, 2019, opportunities werearranged for the Board of Directors to discuss officer compensation. Once again finding that the portion of total
officer compensation accounted for by performance-linked
compensation was low, the Board of Directors examined
instances of companies utilizing ESG-related factors inevaluations for performance-linked compensation.
Furthermore, the evaluation of the effectiveness of
the Board of Directors conducted in May 2018 identified
issues regarding the low portion of total officer compensation accounted for by variable medium-to-long-term
incentives. The Company plans to develop officer
compensation systems that are linked to co-creation
sustainability management. To this end, we will expand
variable short-term incentives as part of the planned
revision in the fiscal year ending March 31, 2020, andexamine the possibility of introducing sustainability targets
linked to variable medium-to-long-term incentives.

The Advisory Board was established in July 2016 toenable MARUI GROUP to receive multifaceted advice andproposals from external experts with insight into businessstrategies and various business areas. We anticipate thatsuch advice will be a powerful asset in the establishmentof strategies for Groupwide efforts to accomplish thetargets of the medium-term management plan and to
improve corporate value over the medium-to-long term as
we seek to address the rapidly changing operating environment and an ever-diversifying society. The current
members are contracted to serve on the Advisory Board
Kazuhiko Toyama

Governance Specialist

Managing Partner, Industrial Growth Platform, Inc.


Appointed in
January 2019

Reason for appointment: At Industrial Revitalization Corporation of Japan, Mr. Toyama was involved in rehabilitating numerous companies.
Today, he is engaged in consulting and corporate rehabilitation at Industrial Growth Platform. Mr. Toyama has an extensive background in
corporate governance, having held positions as an external director and a member of the Council of Experts Concerning the Follow-up ofJapan’s Stewardship Code and Japan’s Corporate Governance Code. MARUI GROUP anticipates that he will offer valuable suggestions andadvice for the enhancement of corporate governance.

Peter David Pedersen
Co-founder, Next Leaders’ Initiative for Sustainability; Advisor, PricewaterhouseCoopers Sustainability LLC
Appointed in
January 2019

Environmental Specialist

Reason for appointment: As a corporate consultant, Mr. Pedersen has provided environmental and CSR consulting through various
projects with leading Japanese companies, universities, economic organizations, and government agencies and has taken part in international symposiums. MARUI GROUP anticipates that he will offer valuable suggestions and advice for addressing future operating environment changes and improving corporate value based on his world-leading experience and insight in the fields of the environment andsustainability.

Masayoshi Suzuki

Social Specialist

Executive Vice President, BORDERLESS JAPAN CORPORATION

Appointed in
January 2019

Reason for appointment: Mr. Suzuki co-founded BORDERLESS JAPAN, one of the few companies in the world that only engages in social
businesses, through which this company has addressed social issues pertaining to poverty, discrimination, prejudice, and the environment. MARUI GROUP anticipates that he will offer valuable suggestions and advice for resolving social issues to help create a flourishingand inclusive society.

Officer Compensation in the Fiscal Year Ended March 31, 2018 (Millions of yen)

Advisory Board Members

BasicCompensation

Performance-Linked
Bonuses(Short-Term Incentives)

Performance-Linked
Stock-Based Compensation(Medium-toLong-Term Incentives)

Directors (excluding external directors)

148

16

16

181

  President and representative director

84

9

9

102

External directors

38

0

0

38

Audit & Supervisory Board members(excluding external Audit & Supervisory
Board members)

34

0

0

34

External Audit & Supervisory
Board members

15

0

0

15

Total
Compensation

By resolution at the Ordinary General Meeting of Shareholders, the upper limit for full-year compensation paid to directors has been set at ¥300 million, the upper limit for
performance-linked bonuses paid to directors has been set at ¥100 million, the upper limit for performance-linked stock-based compensation issued to directors has been
set at ¥300 million, and the upper limit for monthly compensation for Audit & Supervisory Board members has been set at ¥6 million.

38

for one year spanning from July 1, 2018, to June 30,
2019. Regular bimonthly meetings of the Advisory Board
are held, at which the president, pertinent directors, andrepresentatives from relevant areas attend; advice is alsosought on specific themes and operations are inspected.
Furthermore, the new Sustainability Advisory Board
was established in January 2019, assembling three ESG
specialists to build upon the role of the Advisory Boardand support MARUI GROUP in conducting co-creation
sustainability management while responding to operating
environment changes over the long term.

VISION BOOK 2050

Appointed inJuly 2016

Appointed inJuly 2016

Tadasu Ohe

Yuji Yamamoto

President, PLANTEC ASSOCIATES INC.


Physician, Representative Director, MinaCare Co., Ltd.
Mr. Ohe assists the Company in better utilizing realestate from the user’s perspective by inspecting storesand distribution centers, proposing store renovationplans and distribution center environmental measures,and conducting lectures at Group companies.

Dr. Yamamoto provides correlation analysis and advice
with regard to tracking the relationship between healthand productivity, offers guidance on how to be included
in healthcare management-related indexes, and shares
external case studies.

Appointed inJuly 2016

Masakazu Masujima

Meyumi Yamada

Partner, Mori Hamada & MatsumotoExecutive Director, istyle Inc.


As for the development of new FinTech businesses,
Mr. Masujima offers proposals of specific growth­investment targets, advice and proposals regarding
entry into the securities business, and advice on­FinTech-related laws and regulations.

Ms. Yamada offers information and takes part in discussions on sharing economies, omni-channel retailing, and other social trends to facilitate the Company’s
sharing and omni-channel retailing strategies.

Appointed inJuly 2017

VISION BOOK 2050

39

Sustainability Governance

Sustainability Governance

Promotion of Digital Transformation

Reinforcement of Groupwide Information Security

Responding to the recent spread of Internet of Things
technologies and the volatile operating environment of
the Internet age while accelerating business structurereforms through digitization and technological innovation
are tasks to be addressed on a Groupwide basis. Recognizing this fact, MARUI GROUP appointed a chief digital
officer in October 2017. In addition, the Digitization
Committee, comprising senior management representatives, was established while the R&D Center was set up
in the Digital Transformation Promotion Department.
Furthermore, a “reverse mentor” system was instituted at M & C SYSTEMS CO., LTD., in which younger

employees mentor managers responsible for digitization
initiatives. Monthly discussions with mentors are held toshare insight regarding everything from familiar systems
to the latest technologies to improve IT literacy.
In regard to the digitization of EPOS cards, MARUIGROUP is digitizing its existing payment and financial
functions. We thereby aim to launch a smartphone application that features enhanced functionality for utilizing
customer data with AI and for providing customers
with recommendations by the fiscal year ending March
31, 2021.

Groupwide Organizational Structure for Promoting Digitization
Digitization Committee

Secretariats

Chairperson: President andrepresentative director
Full-time members:
CFO, chief security officer,
chief health officer, chief information officer,
and chief digital officer

Corporate Planning Division
Representatives of Retailing segment
and FinTech segment

Customer Success Department
R&D Centerof the Digital Transformation
Promotion Department

MARUI GROUP views strengthening Groupwide information security to protect customers’ information and otherinformation assets from unauthorized access, cyberattacks,
and other threats as being among the most importanttasks for management.
Risk management pertaining to MARUI GROUP’s IT
systems is overseen by the Compliance Promotion Board,which is chaired by the president and representative
director of MARUI GROUP, as one facet of Groupwide
governance. In addition, the Company established the­Information Security Committee in June 2018 and appointed the CSO to serve as the highest-level authority
on security responsible for managing and protecting
Groupwide information assets. The CSO coordinateswith the CIO, who is the highest authority responsible
for managing Groupwide IT systems.
In the event of a major information security incident,
the head of the division that detects the incident willreport to the chairperson of the Information Security
Committee and the CSO. The chairperson will thenreport to the CIO, and the CSO will issue a report to thepresident and representative director of the Company
when necessary. The CSO will also be responsible for­assembling a specialized team to address the incident.

MARUI GROUP’s Information Security Framework
Board of Directors

Compliance Promotion
Board

Chief security officer

Coordination

Information Security
Committee

Chief information officer

Operating sites and divisions

Furthermore, MARUI GROUP systematically recruits
and develops the human resources necessary for implementing Groupwide information security measures andprovides education on information security to officers
and employees to promote awareness. In addition, thirdparty information security assessments are performedby specialized institutions to help us maintain an understanding of information security systems and levels
throughout the Group. We will continue to pursue improvements through regular assessments going forward.

Digitization project teams

MARUI GROUP Information Security Policy (Abridged)
Chief digital officer

Presidents and officers fromGroup companies

Project team from MARUI GROUP

Project teams from Group companies

Digitization Committee
Chaired by the president and representative director, the Digitization Committee
shares information on the work issues and resolutions identified by the digitization project teams of Group companies to promote cross-Group digitaltransformation.

Digitization Project Teams


Digitization project teams are in place at all Group companies and comprise thepresidents and officers of the respective companies as well as the employees
selected through open application. These teams are tasked with identifying
issues at their companies and in their work processes, enacting resolutions, andcultivating a digitization culture. Project teams are operated under the direct jurisdiction of the presidents of their companies to implement rapid PDCA (plando-check-act) cycles and thereby realize speedy results.

40

System Investment Committee


The System Investment Committee is chaired by the president and representative director and comprises members including the CFO, the chief security officer(CSO), the chief health officer (CHO), the chief information officer (CIO), the chief
digital officer (CDO), and the representatives of the Retailing and FinTech
segments. This committee makes strategic investment decisions from a Groupwide, long-term perspective with regard to system investments that are important to corporate value improvements or management strategies.

R&D Center of the Digital Transformation Promotion
Department

1. Purpose
The purpose of this policy is to provide guidelines for establishing and implementing information security management
systems to protect the information assets of customers and of MARUI GROUP from all threats, whether internal or external,
accidental or intentional, and thereby help ensure the continuity of MARUI GROUP’s business activities.
2. Basic Principles(1) M
 ARUI GROUP shall practice appropriate management of the information entrusted to it by individuals or organizations during the course of its business activities while respecting the rights and interests of these individuals ororganizations.
(2) M ARUI GROUP shall practice appropriate management of trade secrets, technological information, and other valuable
information acquired during the course of its business activities and protect the rights and interests of MARUI GROUP.
(3) M
 ARUI GROUP will engage in research and human resource development in order to work to improve information
security as it pertains to customer information and thereby gain greater levels of trust from customers and subsequently society as a whole.


The R&D Center is staffed by employees of M & C SYSTEMS, MARUI GROUP’s
system and information service company. The center was established with thegoal of collecting information on and examining the potential for the introductions of new IT technologies and services pertaining to the entire Group.

VISION BOOK 2050

VISION BOOK 2050

41

Sustainability Governance

Sustainability Governance

Major Data: Core Theme 2

MARUI GROUP’s Four Core Themes for Inclusion
In November 2016, MARUI GROUP identified four core
themes for inclusion to guide its efforts to help create aflourishing and inclusive society offering happiness to all.
The concept of inclusion entails integrating and including
individuals that had previously been excluded and iscongruent with the principles embodied by the United
Nations Sustainable Development Goals. MARUI GROUP
is proactively pursuing its targets with regard to thesefour core themes through co-creation with all stakeholders.

Core Theme 1

Core Theme 2

Customer Diversity and Inclusion

Workplace Inclusion

We will seek to develop products, services, and stores that bringjoy to all customers, regardless of their age, gender, or physicalcharacteristics.

Based on MARUI GROUP’s corporate philosophy of striving to“continue evolving to better aid our customers” and “equate
the development of our people with the development of ourcompany,” we will provide all employees with venues throughwhich they can excel.

Core Theme 3

Core Theme 4Ecological Inclusion

Co-Creation Corporate Governance

We will develop eco-friendly businesses that are considerate ofnatural capital and propose ecologically sound lifestyles that are
in harmony with nature and the environment.

We will develop management frameworks that include stakeholders in order to achieve harmony between the interests andthe happiness of all stakeholders.

Total number of employees   Number of female employees   Number of male employees
Average age of employees
Average annual overtime hours per person
Ratio of employees changing positions between Group companies (%)*3
Employees working shortened hours for childbirth or childcare reasons (male and female)
Ratio of female employees returning to work full time after taking childcare leave (%)
Ratio of applicable male employees taking childcare leave (%)
Ratio of differently abled employees (%)*5
Employees injured by occupational accidents  Lost-Time Injury Frequency Rate (LTIFR) (contractors) (%)*6  Occupational Illness Frequency Rate (OIFR) (contractors) (%)*6
Female employees in new hires (%)
Employee turnover rate (excluding mandatory retirement) (%)*6
Ratio of employees unionized (%)*6 *7
Human resource investments (millions of yen)*8

FY2014
5,966
2,655
3,311
40.4
40
8
312
36
14
2.06
74
0.58 (0)
0 (0)
—
2.3
—
—

FY2015
5,918
2,641
3,277
40.9
44
18
345
55
54
2.12
87
1.36 (0)
0 (0)
—
2.0
—
—

FY2016
5,899
2,685
3,214
41.2
46
25
416
66
66
2.08
100
0.72 (0)
0 (0)
—
1.6
—
—

FY2017
5,732
2,584
3,148
42.0
44
34
473
81
94
2.16
76
1.40 (0)
0 (0)
—
2.6
93
474

FY2018
5,548
2,466
3,082
42.9
42
43
484
63
109*4
2.50
61
0.83 (0)
0 (0)
60.8
2.3
94
725

FY2014
13,044106,085
550,61224.7
2,525,815
0—
13,620
7,860
58
5,760
1,523
—
1

FY2015
12,58098,637
530,59522.9
2,350,595
78—
13,390
7,840
59
5,550
1,460
—
1

FY2016
14,434
89,179509,07020.7
2,305,099
387—
12,900
7,700
60
5,200
1,460
—
1

FY2017
14,920103,264
489,43919.4
2,341,454
395
3,685
15,039
8,839
59
6,200
1,455
20
9

FY201813,81899,286412,25614.9
2,327,713
386
3,844
14,527
8,351
57
6,175
1,443
57
29

FY2014
8
13
0
55
4
50
12
0
—
0
5.0
3.0
56.29
1,297,250
32.0

FY2015
10
20
10
54
4
50
13
7.7
—
0
5.2
3.3
58.87
1,469,111
32.3

FY2016
6
33
17
55
4
50
16
12.5
—
0
6.0
3.3
70.68
1,703,353
31.1

FY2017
6
33
17
55
4
50
16
18.8
141
0
6.7
3.1
80.24
1,933,685
41.1

FY2018
7
43
14
56
4
50
17
17.6
135
0
7.6
3.2
93.18
2,189,374
40.8

Major Data: Core Theme 3
Greenhouse gas emissions (Scope 1) (t-CO2)*9
Greenhouse gas emissions (Scope 2) (t-CO2)*9
Greenhouse gas emissions (Scope 3) (t-CO2)*9
Greenhouse gas emissions per unit (per unit of operating income)
Energy consumption (GJ)
Total amount of renewable energy purchased or generated (thousands of kWh)
Energy costs (millions of yen)
Total waste (tons)*6
Waste recycled (tons)*6
Ratio of waste recycled (%)*6
Waste sent to landfills (tons)*6
Total water used (thousands of m3)*6
Business partners engaged in CSR procurement initiatives
Product carbon footprint

Major Data: Core Theme 4Note: The scope of data collection for the following items includes MARUI GROUP and all consolidated subsidiaries.
Major Data: Core Theme 1
Retailing segment transactions (millions of yen)
Number of visiting customers (thousands)
Number of purchases (thousands)
Customer satisfaction (understanding for co-creation sustainability reports) (%)
Number of MARUI GROUP e-commerce site visits (thousands)
Number of employees with Service Care-Fitter qualifications*1
Aggregate number of employees (tenants) that have undergone LGBT manner training
Number of employees (tenants) that have taken the rank 3
Universal Manner Placement Examination
FinTech segment transactions (millions of yen)
EPOS cardholders (of whom new) (thousands)
Ratio of EPOS cardholders aged 18–39 (%)
Income per card of EPOS cards (yen)*2
Ratio of active EPOS card users (%)
Ratio of delinquent debt for EPOS cards (%)

FY2014—
186,030
80,150—92,190430—

FY2015—
186,650
83,480—93,220460—

FY2016
341,478
195,560
91,720—99,690540
75

FY2017326,327
207,100
90,61078
112,480568
500 (28)

FY2018328,486
210,530
93,52079
120,000
571
1,767 (251)

—

—

309

1,249 (4)2,787 (131)—5,420 (710)
58.8
4,400
65.4
1.84

—
5,910 (730)
56.5
5,400
62.9
1.68

1,473,539
6,130 (730)
54.0
5,900
63.7
1.57

1,723,254
6,360 (740)
52.0
6,500
65.3
1.45

1,972,482
6,570 (750)
50.7
7,000
65.9
1.60

Directors   Ratio of independent directors (%)   Ratio of female directors (%)   Average age of directors
Audit & Supervisory Board members   Ratio of independent auditors (%)
Executive officers   Ratio of female executive officers (%)
Total amount of corporate or Group donations (millions of yen)
Political contributions (yen)Return on equity (%)
Return on invested capital (%)
Earnings per share (yen)Total Group transactions (millions of yen)
Payout ratio (%)*1 Based on employees as of April 1 of the following fiscal year
*2 FinTech segment operating income ÷ Active cardholders*3 Aggregate total of position changes in April and October of each year, excluding officers and managers*4 Ratio exceeds 100% due to delays in the timing of acquisition of leave for the purpose of childbirth by spouse or childcare*5 As of June 1 of each year
*6 Third-party verification received from the Japan Quality Assurance Organization from the fiscal year ended March 31, 2018
*7 Figures exclude officers and managers*8 Investments totaling ¥1,030 million projected for the fiscal year ending March 31, 2019*9 Third-party verification received from the Japan Quality Assurance Organization from the fiscal year ended March 31, 2017

Please refer to MARUI GROUP’s ESG DATA BOOKs for more information.
www.0101maruigroup.co.jp/en/sustainability/lib/databook.html

42

VISION BOOK 2050

VISION BOOK 2050

43

Executive Officer Skill Map

The following is MARUI GROUP’s first map of executive officers’ skills. This skill map was compiled to provide a multifaceted view of the personalities and management skills of the executive officers in charge of specific business areas to­facilitate the accomplishment of MARUI GROUP’s mission and long-term vision. In compiling this skill map, executive
skills were mapped based on type and career, and 360-degree evaluations were conducted, excluding the individual inquestion, by supervisors, colleagues, and subordinates. The map was improved and further refined based on the definition of each item in order to provide a clear representation of the qualities of MARUI GROUP’s management team.
Basic character

Behavior patterns

Area of management expertise
Sustainability(ESG, risk)

IT literacy(Internet, e-commerce)

Human resource
management (humanresource development)

Finance(finance, accounting)Operations(administration)

Marketing(pioneer spirit)

Innovation (businessdevelopment)

Practical(realistic, reliable)

Feeling (emotional,
empathetic)

Thinking (logical,
knowledgeable)

Inspiration(instinct, passion)

Flexible, responsive

Patient, persistent

Proactive, leader

Introverted (receptive)

Extroverted (active)

Career*Joined MARUI GROUP CO., LTD., in 1986; became director and general manager of the Sales Planning Headquarters in 1991 aftergaining experience in finance and corporate planning; became managing director in 1995, filling the positions of general manager of theSales Planning Division and officer in charge of planning, personnel, and finance thereafter; became executive vice president and representative director in 2004; became president and representative director in 2005; became president and representative director andrepresentative executive officer (incumbent) in 2006

Hiroshi Aoi
President and Representative Director,
Representative Executive Officer

Joined MARUI GROUP CO., LTD., in 1977; became director and general manager of the Group Corporate Planning Division in 2005
after gaining experience in information systems and procurement and distribution management, and as a store manager; became
managing director and managing executive officer in 2008; became senior managing director and senior managing executive officer in2012 and later assigned responsibility for corporate planning, audit, personnel, finance, credit card services, and information systems;
currently senior managing executive officer and CFO in charge of IR and finance

Motohiko Sato
Senior Managing Executive Officer

Joined MARUI GROUP CO., LTD., in 1983; became executive officer and general manager of the Group Compliance Division in 2007
after gaining experience being in charge of credit, being positioned in the General Affairs Department, and as a deputy store manager;
became director and executive officer and general manager of the General Affairs Division in 2009 and later held positions as generalmanager of the Personnel Division and chief operating officer for Healthcare Promotion; currently director and senior managing executive officer, CSO, CHO, and in charge of audit, general affairs, p­ ersonnel, and health promotion, and concurrently president and representative director of MOVING CO., LTD.
Joined MARUI GROUP CO., LTD., in 1983; became executive officer and general manager of the Group Business P­ romotion Division in2007 after gaining experience being in charge of sales promotion and as general manager of the Store Planning Division and as a store
manager; became director and executive officer and general manager of the Corporate Planning Division and the Business Development
Division in 2008; became president and representative director of MARUI CO., LTD., in 2011; currently director and managing executive
officer responsible for the FinTech segment and concurrently president and representative director of AIM CREATE CO., LTD.

Tomoo Ishii
Director,
Senior Managing Executive Officer
Masao Nakamura
Director,
Managing Executive Officer
Toshikazu Takimoto
Managing Executive Officer

Joined MARUI GROUP CO., LTD., in 1982; became director and general manager of the Credit Card Services Division of Epos Card Co.,
Ltd., in 2006 after gaining experience in customer service and sales, credit planning, and corporate planning and as a deputy store
manager; became executive officer in 2009; became director and executive officer and concurrently president and representative
director of Epos Card Co., Ltd., in 2012; currently managing executive officer responsible for the Retailing segment and CIO and­concurrently president and representative director of M & C SYSTEMS CO., LTD.

Takashi Wakashima
Managing Executive Officer

Joined MARUI GROUP CO., LTD., in 1981; became director and deputy general manager of the Sales Promotion Headquarters­responsible for e-commerce operations in 2006 after gaining experience in procurement and distribution management and corporate
planning, as a component buyer, and later as general manager of the Product Planning Division and as a store manager; became
director and executive officer and concurrently president and representative director of MOVING CO., LTD., in 2011; currently managing
executive officer in charge of sustainability, the real estate business, and architecture and concurrently director of AIM CREATE CO., LTD.

Hajime Sasaki
Senior Executive Officer

Joined MARUI GROUP CO., LTD., in 1986; became director and general manager of the Card Planning Division of Epos Card Co., Ltd., in2007 after gaining experience in customer service and sales, product planning, and credit card services and as a deputy store manager;
became general manager of the Demand Survey Department of MARUI CO., LTD., in 2009; became director and general manager of thePrivate Brand Department of MARUI CO., LTD., in 2012; became executive officer in 2013; became director in 2014; currently senior
executive officer and concurrently president and representative director of MARUI CO., LTD.
Joined MARUI GROUP CO., LTD., in 1986; became executive officer and general manager of the Financial Department in 2008 aftergaining experience in customer service and sales, procurement management, finance, and corporate planning and as general managerof the Planning Department and as a store manager; became director and general manager of the Sales Promotion Department of Epos
Card Co., Ltd., in 2013 after serving as director and general manager of the Direct Marketing Department of MARUI CO., LTD.; currently
senior executive officer and concurrently president and representative director of Epos Card Co., Ltd., and director of M & C SYSTEMS
CO., LTD.
Joined MARUI GROUP CO., LTD., in 1987; became executive officer and general manager of the Corporate Planning Division in 2015
after gaining experience in customer service and sales, finance, credit card services, and corporate planning; became director andsenior executive officer and general manager of the IR Department and in charge of ESG promotion in 2016; currently director andsenior executive officer, CDO, general manager of the IR Department, and in charge of corporate planning and ESG promotion, and­concurrently senior managing director of M & C SYSTEMS CO., LTD., and director of tsumiki S­ ecurities Co., Ltd.

Yoshinori Saito
Senior Executive Officer
Hirotsugu Kato
Director,
Senior Executive Officer
Yoshiaki Kogure
Executive Officer

Joined MARUI GROUP CO., LTD., in 1983; became general manager of the Group Financial Department in 2006 after gaining experience in customer service and sales, public relations, and sales promotion and as a component buyer and a deputy store manager;
became executive officer in 2007 and later became general manager of the Personnel Division, general manager of the Corporate
Planning Division, and general manager of the Direct Marketing Department of MARUI CO., LTD.; currently executive officer and­concurrently president and representative director of MARUI FACILITIES Co., Ltd., and director of MARUI HOME SERVICE Co., Ltd.

Masahiro Aono
Executive Officer

Joined MARUI GROUP CO., LTD., in 1984; became general manager of the Women’s Clothing and Accessories Department in 2008
after gaining experience being in charge of credit in customer service and sales and product planning, and as a men’s and women’s
clothing buyer and a deputy store manager; became director and general manager of the Business Promotion Department of MARUICO., LTD., in 2011; became executive officer in 2013; currently executive officer and concurrently managing director and generalmanager of the Store Business Promotion Department of MARUI CO., LTD., and director of AIM CREATE CO., LTD.

Yuko Ito
Executive Officer

Joined MARUI GROUP CO., LTD., in 1986; became general manager of the Construction Department in 2007 after gaining experiencein construction, store planning, the space production business, and other specialized fields; became director of AIM CREATE CO., LTD.,in 2012; became executive officer in 2014; currently executive officer and general manager of the Group Design Center and the Construction Department and concurrently director and general manager of the Creative M­ anagement Department, and deputy generalmanager of the Space Production Business Division of AIM CREATE CO., LTD.

Mayuki Igayama
Executive Officer

Joined MARUI GROUP CO., LTD., in 1987; became general manager of the New Business Department in 2009 after gaining experiencein customer service and sales and sales promotion and as a store manager, and later in direct marketing business planning and businessdevelopment; became director and general manager of the Direct Marketing Department of MARUI CO., LTD., in 2014; became executive officer in 2015; currently executive officer and concurrently director and general manager of the Omni-Channel Retailing Division of
MARUI CO., LTD., and director of MOVING CO., LTD.

Junko Tsuda
Executive Officer

Joined MARUI GROUP CO., LTD., in 1995; became responsible for store operation in 2010 after gaining experience in customer service
and sales, sales promotion, women’s clothing, and demand surveys; became store manager of Nakano Marui at MARUI CO., LTD., in
2014; became executive officer and concurrently director and store manager of Marui Family Shiki at MARUI CO., LTD., in 2015;
became general manager of the New Business Development Department in 2017; currently executive officer and concurrently
director and store manager of Marui Family Mizonokuchi at MARUI CO., LTD.
Joined MARUI GROUP CO., LTD., in 1986; became store manager of Kobe Marui at MARUI CO., LTD., in 2007 after gaining experiencein customer service and sales and product planning and as a women’s clothing buyer; became general manager of the Brand Development Department of MARUI CO., LTD., in 2008; became general manager of the CSR Promotion Department in 2012; became director
and general manager of the Collaboration Card Business Department in the Sales Promotion Department of Epos Card Co., Ltd., in
2015; became executive officer and concurrently director and general manager of the Sales Promotion Department of Epos Card Co.,
Ltd., in 2016; currently executive officer and concurrently director and store manager of Ueno Marui at MARUI CO., LTD.
Joined MOVING CO., LTD., in 1992; became general manager of the Pre-Opening Development Office in the Anime Business Department in 2015 after gaining experience in sales development, product planning, management planning, and fashion distribution at
MOVING CO., LTD., and later in work planning and as store manager of Shinjuku Marui Annex at MARUI CO., LTD.; became generalmanager of the Anime Business Department in 2016; became executive officer in 2017; currently executive officer and generalmanager of the New Business Development Department and in charge of the anime business

Miyuki Kawara
Executive Officer

Masahisa Aoki
Executive Officer* Positions for which a company is not specified are at MARUI GROUP CO., LTD.

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VISION BOOK 2050

VISION BOOK 2050

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