Human resources are
our greatest, most powerfultype of capital

HUMAN CAPITALREPORT2023
Link and Motivation Grouphttps://www.lmi.ne.jp

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Using Human Resources as Our Greatest,
Most Powerful Type of Capital
to Create a More Meaningful Society
As Japan’s labor force shrinks and companies’ competitive advantages shift from products to services,human resources and organizations will become key assets for corporate management.
Link and Motivation was founded in 2000 based on this confident prediction.

We believe in creating companies that are chosen not only by customers in the product market,
but also by employees and applicants in the labor market—what we call “Motivation Companies.”
We believe in utilizing people and organizations not as resources that diminish with use,
but as a company’s greatest, most powerful capital, capable of generating unlimited value when properly utilized.
Taking these beliefs to heart, everyone in the Link and Motivation Group from executives to staff members has been working

to conduct management where we practice what we preach as we provide support for our corporate customers.

Our progress along this path has also benefitted from the growing trend toward promoting human capital management.

Link and Motivation remains committed to maximizing the value of the world’s human capital in order to create a more meaningful society.

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Link and Motivation Group ProfileMission

Business Structure

Through Motivation Engineering,
we provide opportunities to transformorganizations and individuals
and create a more meaningful society.

Corporate Slogan

OrganizationalDevelopment Division

IndividualDevelopment Division

Support for creatingorganizations that
individuals choose(Motivation Companies)

Support for creating
individuals thatorganizations choose(i Companies)① Consulting & Cloud Business③ Career School Business② IR Support Business④ Cram School BusinessIndividual Passion Inspires the World

Matching Division
Providingopportunities tolink organizations
and individuals

Company Overview(As of December 31, 2023)

Name：
Representative：
Head office：Established：
Stock market
listing：
Paid in capital：
Revenues：
Operatingincome：Number ofemployees：⑤ ALT Placement Business

Link and Motivation Inc.
Ozasa Yoshihisa, Chairman and Representative Director
Kabukiza Tower 15F, 4-12-15 Ginza, Chuo-ku,
Tokyo 104-0061, Japan
April 7, 2000

⑥ Personnel Placement Business

Overview by Division(Year ended December 31, 2023)

Prime Market, Tokyo Stock Exchange(Securities code: 2170)¥1,380,610,000¥33.9 billion (consolidated)¥4.6 billion (consolidated)

Revenues(billion yen)

Organizational
Development Division
Individual
Development Division
Matching Division

1,470 (consolidated)

Gross Profit Number of(billion yen) Employees

128

90622

64

29524

153

63322

3Contents
Key Points of Human Capital Report 2023
Based on valuable feedback from our stakeholders in the capital market (shareholders and institutional investors), product market (customers) and labor market (employees and applicants), we have substantially
improved the content and format to provide a more practical understanding of the Link and Motivation Group’s approach to human capital management as well as the human capital that is a Group strength.

Chapter 1

Chapter 4

Approach to Human
Capital Management

The Foundation Supporting
Human Capital Management

5 Message from the CEO and CHRO

51 Governance Structure

7 An Organizational Strategy That Makes the Most of

52 A Board of Directors with Expertise in

Human Capital

Chapter 5(Professor Ito Kunio and President and Representative
Director Sakashita Hideki)

11 Findings from Research on Human Capital

Chapter 2
The Link and Motivation Group’s
Human Capital Management
13 Businesses of the Link and Motivation Group
14 Group Organizational Strategy

55 Compliance and Ethics/Costs

Being/Productivity

21 Group Human Capital Management from an Employee’s
Perspective

Chapter 3
Measures for Human CapitalManagement
24 Initiatives to Maximize Human Capital
25

Improving Human Resource Capabilities: Stretch Cloud

26

Improving Engagement: Motivation Cloud

27 Specific Investments in Recruiting, Training, Systems andCorporate Culture

Securities Report(Japanese only)

Pursuant to Japan’s Financial
Instruments and Exchange Act,the report contains a company
overview, business condition andfinancial information such asfinancial statements, as well as
non-financial information on thecorporate governance system andother topics●

Financial Statements

Contains quarterly financialinformation●

Shareholder Report(Japanese only)

Provides an overview of LMG’sbusinesses, information on its
human resources and other topics
in addition to the Group’sbusiness results to help deepen
shareholder understanding●

CorporateGovernance
Report(Japanese only)

Contai ns i nformati on on LMG’s
corporate governa nce pursua nt
to the l i sti ng regul ati o ns of theTokyo Stock Excha nge

60 Recruitment, Mobility, Turnover
63 Succession Planning/Workforce
Availability

64 Other

65 Our Understanding of Human Capital
Disclosure Guidelines●Covers LMG’s approach tohuman capital management andresults

58 Organizational Culture
Organizational Health, Safety and Well

Financial Non-financial
Information Information

Human Capital Report

57 Leadership

62 Skills and Capabilities(Consulting & Cloud Business)

Contains information on LMG’s
management strategies, businessactivities and ESG initiatives, with theIR Book (Integrated Report)
aim of deepening overall
understanding of the economic andsocial value created by LMG

56 Diversity

Capabilities/Engagement Overview ofAn Organizational Strategy Linked to Business StrategyContentForm of Disclosure

54 Correspondence with ISO 30414 Metrics

Productivity/Human Resource

Human Capital Investment
19

Human Capital Data

The Link and Motivation Group (“LMG”) communicates with its stakeholders using
diverse tools to disseminate information from a variety of perspectives.

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Human Capital Repor t 2023 -8 A Discussion on the Nature of Human Capital

Organizational and Personnel Matters

Overview of the Link and Motivation Group’s Information
Disclosure