Talent Forward Strategy

Since our foundation, we at Money Forward have continued to

expand both our business and our organization as we work toachieve our mission, "Money Forward. Move your life forward."
This growth has been made possible by the support of each andevery one of our employees.

Talent Forward
At Money Forward,Your Growth is Our Growth

We are what we are today because a group of professionals with acommon goal have come together, faced challenges for our users
and our business, and helped each other to grow.
We also believe that one of the keys to sustainable growth is our“Talent Forward” strategy.
We believe that bringing together exceptional talent from around theworld will help us complement each other and accelerate the growthof our business. Growth inevitably leads to new challenges, and inseeking out these new challenges, our network of talent will only
expand. We are convinced that it is through this virtuous cycle that
we can make our mission a reality.

2

Talent Forward Strategy

Contents
Talent Forward Strategies and Initiatives

P. 04

01 Foster a Safe Work Environment and Corporate Culture

P. 07

02 Recruit Talented and Diverse Members Who Align With Our MVVC*

P. 14

03 Create a System That Maximizes Individual Potential

P. 17

04 Foster Autonomous Personal Development

P. 20

05 Connect Individual Development to Organizational GrowthP. 23

Short and Medium-Term Priorities

P. 28

01 Strengthen Measures to Embody Our MVVC

P. 31

02 Create a System That Attracts Top Talent

P. 33

03 Enhance Feedback and Training

P. 35

04 Practice Strategic Allocation and Organizational Design to Achieve Key Growth Milestones

P. 37

05 Enhance Productivity

P. 39

06 Improve Gender Equality at the Decision-Making Level

P. 41

07 Adapt to the Globalization of the organization

P. 43

CEO x CHO Face-to-Face Interview

P. 45*Mission, Vision, Values, Culture

3Talent Forward Strategy

Strategy & Initiatives

4

Talent Forward Strategy

In order for Money Forward to succeed in achieving ourbusiness strategy and making our mission and vision a
reality, we have organized the basic tenets of our HR
philosophy into a strategy that we callthe “Talent Forward Strategy.”
In this section, we will cover the basic outline and initiativesof our Talent Forward Strategy which will always continue tobe an important part of us.

5

Talent Forward Strategy

Talent Forward Strategy ｜ Basic Tenets of Our HR Philosophy

Realize our mission and vision

Achieve our business strategy

TalentForward

5 Connect individual development to organizational development
4 Foster autonomous personal development
3 Create a system that maximizes individual potential
2 Recruit talented and diverse members who align with our MVVC*.
1 Foster a safe work environment and corporate culture*Mission, Vision, Values, Culture

6Talent Forward Strategy

01 and Corporate Culture

Foster a Safe Work Environment
At Money Forward, we share a common set of values and aspireto the same worldview. These are reflected in our MVVC (Mission,
Vision, Values, Culture), and are respected by all of ouremployees.
As we continue to grow and becomes more diverse, we go aboveand beyond to ensure that not only does the understanding of
our MVVC not fade, but continues to deepen.
We strive to create an environment in which employees withdifferent backgrounds and values can feel comfortable working

together and respect each other’s differences.

7

Talent Forward Strategy

Culture and Communication
Updating and Spreading Our Values and Culture
Our MVVC was established in 2016 and updated in 2023 to reflect thegrowth of the Company. Major changes include updating our“Technology Driven” value to “Tech & Design” to further emphasize
design, and the addition of “Evolution” to our culture to remind us tocontinue to innovate.
We also created a “Culture Deck” with the idea that values andculture are not something that the Company should push on
employees, but rather something that should evolve with the values
and actions of our employees and be nurtured together.
One way that we spread our Culture is by honoring employees every

quarter with the title of “Culture Hero.” Recipients tell the entire
company their story of how they embodied our Culture and share
their knowledge with their colleagues.

Click here to view the Culture Deck

8

Talent Forward Strategy

Culture and Communication
Measures to Revitalize Communication
In 2023 we expanded our office and opened the “Connect Area,” a newspace where employees can connect with each other offline. In addition
to being a great place for lunch and coffee breaks, the area offers freedrinks after 6:00 p.m. and regular events are held to provide a place for
employees to make connections that go beyond work.

Learn more about the Connect Area

Money Forward Group gathers for the “Soukai All-Hands.” This is oursemi-annual general meeting in which we present reviews for the entire
Group and share strategies. The meeting also includes awards,
introductions of Group companies and offices, an event for employees toexpress their gratitude towards one another, and dialogues with ourmanagement team. The event is organized and run by over 30 members
selected through open recruitment and members come together
regardless of company or departmental boundaries.

Learn more about Soukai All-Hands

9Talent Forward Strategy

Building an Inclusive Organization
DEI Statement

Parental Leave Guidebook

We established our DEI Statement in 2023, which

With the hope that everyone will be able to face theaims for understanding and respect throughchanges that come at different life stages with peace of

mutual communication among all employees

mind, we have compiled information and interviews on

regardless of gender, nationality, religion, age,

our systems related to pregnancy, childbirth, child-educational background, or other attributes.

rearing, and returning to work. The guidebook provides
information that is useful not only for employees onleave, but also for their families and team members.

Click here
to visit our
DEI site

Click here formore details
about ourParental Leave
Guidebook10

Talent Forward Strategy

Building an Inclusive Organization"TERAKOYA" Japanese Language“Inclusive Course,” Our Personnel

Training Program / English Language

System for Employees with Disabilities

Training Programs

In 2022, we introduced the "Inclusive Course," a“TERAKOYA” is a program we offer for non-native

personnel system designed with career development

Japanese speakers to learn Japanese throughfor employees with disabilities in mind. In 2023, weconversation with personal coaches. Employees

updated our evaluation system, pay raise system, andvolunteer to be coaches, providing an opportunity for

employment types to ensure that people withcolleagues to interact with each other. We also have adisabilities can work with more peace of mind. We

dedicated in-house staff of English training and offer

have also formulated and made public our Support

learning programs for different proficiency levels.

Policy.
Click here toread the fullinterview

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Talent Forward Strategy

EMPLOYEE INTERVIEW

12

Connecting With Co-Workers Makes
The Company a Safe and Enjoyable
Place to WorkAt events in the Connect Area, the Soukai All-Hands afterparty, and more,
we have many opportunities to meet co-workers from other teams.
Vegan and Halal meals are also available, so everyone can enjoy the same
excitement and fun. These events provide us with the chance to makenew friends to talk to in the office and help make the office a safe place formore than just work. It also makes work itself more enjoyable.
Sometimes, when I think I am the only one in the office from my team, I
run into someone I know in the Connect Area, and we end up having
lunch together.

Bhatia Gayatri

In addition to the opportunities provided by the Company, we also create

Bhatia Gayatri

our own opportunities to get to know one another. For example, my teamPlatform Development Division
Engineer

started this to give our co-workers who are studying English a chance todoes an English Tea Time on days when we are in the office. Originally, we
get used to English conversation, but it has turned into a time for us to get

to know each other, and we look forward to each session.

Talent Forward Strategy

EMPLOYEE INTERVIEW
I especially like all the initiatives the Company takes to

Also, the support for non-Japanese employees is exceptional.

encourage employees to recognize each other’s effort andEspecially when it comes to employees who are coming tosupport one another. I actively use Emotips, a casual

Japan for the first time. I remember how hard it was for mecommunication tool that lets me express my appreciation andwhen I first came, so I’m glad that they don’t have to go

admiration for my co-workers. When I see someone who has

through what I did. I always tell my friends at otherreceived a Culture Hero award, I also take the opportunity to gocompanies how good our support systems are.

over and talk to them myself.

Support Systems You’ll Want toTell Your Friends About
In terms of employee support systems, I personallyappreciated the Parental Leave Guidebook. I have someco-workers who have taken parental leave, but theguidebook told me all about the system and how it works. I
also got to hear some stories about people who had
returned to work after taking leave, and now I feel morereassured when I think about my own future.

The safe and comfortable working environment makes
working at Money Forward so enjoyable. I want to tell otherpeople from overseas how fun it is to work in Japan.

13

Talent Forward Strategy

02 Diverse Members Who
Recruit Talented andAlign With Our MVVC
We believe a team with diverse perspectives and experiences
is essential to creating new ideas and value, and we areworking to create an organization that attracts top talent not
only from Japan, but from around the world.
When hiring, we place a strong emphasis on finding
individuals who align with our MVVC.

14

Talent Forward Strategy

Recruiting Diverse Talents
We believe that new value is created when great minds

from diverse backgrounds come together, and that is why

Age

Ratio

20s

36%

30s

50%

40s

14%

NativeLanguage

Ratio

Japanese86%

diversity is an essential part of our hiring philosophy.
After opening a new development base in Vietnam, we
opened another in India in 2023. Furthermore, in recent
years we have been actively hiring talent to work in Japan

Gender

Ratio

Male

65%

Female35%

Job Type

Ratio

Business

63%

Engineers/
Designers

37%

regardless of their Japanese language proficiency. We
offer relocation support for employees from overseas.
We also actively recruit new graduates and recent new
graduates. The average age of our employees is 32, andthe younger generation is taking on challenging workwith a great deal of responsibility.
We place importance not just on diversity in terms of

Other

14%

demographics, but also in terms of life experience andvalues.

*As of the end of November, 2022. See ESG data for details.

15

Talent Forward Strategy

Company-Wide Recruiting (Scrum Hiring)

Innovative Onboarding

At Money Forward, recruiting is not just left to HR.

Our onboarding process ensures that new members

Each organization is responsible for recruitment andembody the Money Forward Culture and are able totakes ownership of the hiring process. We also have atake on an active role in the Company as soon as

referral hiring system called the "GOEN" system. In

possible. Orientations include messages from theJapanese, “goen” means to make a connection withexecutive management team and study sessions tosomeone. We also have a GOEN card to hand out

deepen the understanding of our Culture. During ourwhen any of us meet someone we feel we would love

employees’ first three months with us, we use a survey

to work with.

tool called “Onn,” which allows team members and HR
to help with any problems that may arise.

Click here for
more
information
about theGOEN System

16

Talent Forward Strategy

03 Maximizes Individual Potential
Create a System ThatTo encourage our employees to continuously develop
themselves and take on more challenges, we continually

update our unique performance evaluation and compensation
system, the “MF Growth System.”
We also conduct a monthly survey to understand each of ouremployees’ situations and provide tailored support.

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Talent Forward Strategy

Unique Performance Evaluation and Compensation System “MF Growth System”
Seven grades are defined for each job type and organization.
Company-wide disclosure of the requirements for each
grade clarifies evaluation criteria and steps to be taken
according to each employee’s career aspirations(management or specialist).
We also periodically update compensation using theDecided based on the magnitude of contribution to
the company and its business/size of mission
G7

Business Officer/Professional

G6

Director/Expert

G5Manager/Influencer

recruitment market as the standard. In FY2022, we
Decided based on job skill andcontribution to the organization

introduced MF Growth System 2.0, which included higher
salaries and bonuses for high performers.
In FY2024, salary range and overall salary were further
increased as part of the new MF Growth System 3.0.

We will continue to encourage our employees to take onchallenges and further their personal development byoffering competitive salaries.

G4

Leading Player/Playing Manager

G3

Main Player

G2

Player

G1

Starter/Associate

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Talent Forward Strategy

Surveys to Understand the State of theOrganization and Our Employees
To gain a good understanding of the state of the organization, we
conduct a semiannual anonymous survey called the MF Group Survey.
Employees give quantitative scores and qualitative comments for
categories such as business, departments, supervisors, the company
as a whole, the management team, and diversity. The results are thenanalyzed and shared company-wide. Each organization then reviews
the survey and sets improvement goals and action plans.
We also conduct a monthly, non-anonymous survey called the MF
Selfie Map. Supervisors are able to quickly grasp the situation of each
employee and the organization and provide support accordingly.
Questions and career consultations with HR personnel are alsoavailable to follow up on topics difficult to discuss with direct reportmanagers.

MF Selfie Map

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Talent Forward Strategy

04 Personal Development
Foster Autonomous

At Money Forward, professionalism is a key element of ourcorporate Culture.
Each member takes ownership of their own development anddemonstrates leadership regardless of position.
We encourage our members to grow autonomously throughnot only experience on the job but also through the training
programs the Company offers and the effective feedback fromsupervisors.

20

Talent Forward Strategy

Creating Opportunities for SelfDevelopment Through New Experiences

Feedback Culture

We create growth opportunities through new

1on1 meetings held at least once a month to review

experiences by proactively transferring authority,

goals and provide employees with feedback on theirselecting personnel based on their skills and abilities,

positive points and areas to improve are intended to be

and implementing a voluntary transfer system (thea time to support employees in achieving their goals

MF Challenge System). For new graduates, weand furthering their development. We also conduct

especially encourage bold transfers and role changes

1on1 training for all managers to improve the quality ofwithin a 3-5 year period. While respecting their career

feedback. In our monthly surveys*, the score for thegoals, we encourage personal development byquestion “Are you getting the support you need in yourchanging their environment from time to time.

1on1 sessions to improve your output?” is consistently
over 80 out of 100.

Click here
to readinterview*Results from the "MF Selfie Map," a pulse survey of the Company and certain Group companies.

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Talent Forward Strategy

Education and Training Tailored to Developmental Stages
To support our employees’ desire for personal development, we haveintroduced several voluntary training programs over the past few years.

Career Training
A program designed as an opportunity for the increasing number of
new graduates and recent new graduates joining the company to think
about their careers. It offers workshops for employees to consider theirstrengths (Can), what they want to accomplish, and what their career
aspirations are (Will). There are also roundtable discussions with senior
employees. This is a great opportunity for employees to envision a planto achieve their career goals.

Leadership Forward Program (LFP)
A leadership training program for the business managers who will raise
the next generation of management. Here, our Directors are theinstructors and work closely with participants providing practical advice.

Learn more about our training programs

22

Talent Forward Strategy

05 to Organizational Growth

Connect Individual Development

By linking the continuous growth and challenges of ourmembers to the growth of the organization, we aim toachieve our business strategies and continuously increase
our corporate value.
We have a variety of systems in place to achieve the growthof our entire organization, such as a goal-setting system thatlinks company goals with individual goals, a talent strategy

meeting for systematic development, and a system forawarding inventions.

23

Talent Forward Strategy

Goal for Growth System (Goal Setting and
Evaluation System) / Semi-annual MVP Awards
We set semiannual company-wide goals, and the CEO shares the
background behind these goals with everyone in the Group.

Mission・Vision

Company

Goal

Each organization sets its own challenging goals to contribute to
the group-wide goal, and these goals are made available as

Goal Indicator 1

Goal Indicator 2

Goal Indicator 3

Goal 2

Goal 3

documents that all employees can see. Finally, individual goals
are set to contribute to the accomplishment of theorganizational goals.

Department
Goal 1Through this system, individual challenges and the achievementof goals directly contribute to the achievement of company-wide
goals.

In addition, employees and projects that have achieved
particularly outstanding results are recognized at our Soukai AllHands as semi-annual MVPs.
Click here to read an interview with semi-annual MVPs.

Individual24

Talent Forward Strategy

Talent Strategy Meeting

Invention Awards

To ensure the medium-term to long-term

We hold our semi-annual "Invention Awards" todevelopment of our employees and their optimal

honor members who have created inventions orplacement within the Group, a talent strategy

creations that lead to patents or designs for the

meeting is held once every six months. Before theGroup. Through these efforts, we are cultivating an

meeting, HR and management identify key

organizational Culture that fosters ideas andpositions within the Company and checkpromotes the intellectual property strategy of theemployees’ career aspirations and room for growth.

entire Group.

Management members then discuss crosscompany transfers, bold role changes.
Click here for
more
information
about theInventionAwards25

Talent Forward Strategy

EMPLOYEE INTERVIEWNo More “Pseudo Management”
Learning Business Strategies and Training
Techniques That Can Be Applied in the Field
Exactly one year ago, I joined the Leadership Forward Program (LFP).
Until then, my experience was mainly in the startup and growth ofmarketing and promotion areas at venture companies.
I was sometimes assigned to manage a small team, but only to
manage operations while also working as a player.
However, as the organization expanded, the role required ofmanagers changed, and I began to feel that my current approach was
Yohei Narisue

no longer working. I wanted the ability to build a strong team that

Yohei Narisue

sharpened each others’ skills and could create strategies from a bird's

Digital Invoice Department
Deputy General Manager

eye view, as I thought this would be important for my career in the
future.

26

Talent Forward Strategy

EMPLOYEE INTERVIEW
LFP offers a variety of programs for middle-level managers
to learn from our Directors how to make the jump up to

management leaders and eventually become top-levelNow managing a team of 30 people an in aposition to develop the next generation ofleaders

executives.
I was particularly impressed with the engagement training

In retrospect, I think my lack of management knowledge wasprovided by Takeda-san, a Director who has experiencea source of anxiety for me.

overseeing an organization with over 1,000 employees. His

I now oversee a team of about 30 people in two departments,

training included practical examples of how to give feedback

marketing and inside sales, and the way I work has changed

and the importance of setting priorities and goals for growth.

dramatically. I have more time to think about development

I was able to apply his training to my actual on-siteand strategy, and I really enjoy watching my team members’

management and this led to the noticeable improvement ofdramatic growth and having the ability to make a huge

my team.

impact together as a team.

In addition, we learned how to share project progress andIn my own team, I give feedback to potential leaders to help

hone each other’s skills when working in an organization ofthem improve not only their performance but also their

dozens of people. We also learned about the type of mindset

management skills. I encourage younger members tothat can cause younger employees to hit a snag in their

participate in LFP because I have experienced firsthand thepersonal development, and how to effectively conduct 1on1

personal development that it provides.

sessions.

27

Talent Forward Strategy

Key Priorities

28

Talent Forward Strategy

In this section, we will cover the short-term andmedium-term priorities for the Talent Forward

Strategy. We will also provide the backgroundbehind each priority and lay out specific measuresand key indicators for each.

29

Talent Forward Strategy

Short-Term and Medium-Term Priorities

As we continue to apply the practices
outlined so far, the priorities listed on theright will be the main focus of our Talent
Forward Strategy in the short-term andmedium-term. We hope that these efforts
will further improve the Group’s capability
and continue to create catalysts for change
as our organization expands, diversifies, andbecomes increasingly complex.

01 Strengthen Measures to Embody Our MVVC
02 Create a System That Attracts Top Talent

03 Enhance Feedback and Training
04 Practice Strategic Allocation and Organizational
Design to Achieve Key Growth Milestones
05 Enhance Productivity
06 Improve Gender Equality at the Decision-Making Level
07 Adapt to the Globalization of the Organization

30

Talent Forward Strategy

Strengthen Measures

01 to Embody Our MVVC
While many companies find it difficult to instill a corporate
culture and a sense of belonging as they grow in size, eachand every member of our Group still values our MVVC as thefoundation for everything we do.
Even as society evolves and our organization further expands
and diversifies, we will continue to create frameworks andimplement measures that enable our members to deepen
their understanding of our MVVC and reflect these values intheir actions.

31Talent Forward Strategy

Future Initiatives

Key Indicator

Permeate Our New Action Guidelines
In FY 2023, we created new Action Guidelines. These Guidelines will

ensure that our future measures enable each employee to takeaction that is conscious of our corporate Culture and Values. We will
promote further cultural penetration to accelerate organizational
growth.

Make Our Mission More Personal
In addition to continuing to promote our Values and Culture, we will
enhance our employees' empathy with our Mission. The first of

Enhancement of MF Group Survey* Score
The Company’s business has apositive impact on society andstrong future potential.

4.4

Money Forward Group is a company
that is moving toward realizing andembodying our MVVC.

4.3

these initiatives is transforming the Culture Division into the
Corporate Identity Forward Office, and we will work to enable
employees to gain a more hands-on understanding of how thecompany as a whole can have a positive impact on society and its
users and to incorporate our mission into their daily work andactivities.

*Survey of all Regular Employees of the Group conducted in October 2023 (excluding
Money Forward Vietnam).
Each question is scored on a 5-point scale. Survey response rate: 97%.

32

Talent Forward Strategy

Create a System That

02 Attracts Top Talent

Despite the increasingly competitive recruiting market, ourrecruiting capabilities continue to be top-class. Over the past
two years we have doubled our number of employees from
1,000 to 2,000.
Despite this large increase, emphasis on empathy with our
MVVC, in addition to skill checks, has reduced mismatches.
We will further update our compensation system and selection

process to attract top talent from around the world, as well as
utilize data to strengthen employee retention.

33

Talent Forward Strategy

Future Initiatives

34

Key Indicator

Updating Our Compensation System (starting December 2023)
To offer more competitive compensation in a changing market, we made an

Enhancement of MF Group Survey* Score

upward revision of salary tables for all positions based on market data, and theupper end of our salary tables has been improved by up to 25%. We also madethe merit system for salary increases and decreases more clearly based on

People in theorganization areappealing.

4.3

I find my current job
rewarding.

4.0

I am growing throughmy current job(or feel I will be able to
do so in the future).

4.2

performance and grade, and increased the rate of salary raises as a whole. We
will continue to take into account market conditions and update ourcompensation system on a periodic basis.

Higher Quality Interviews
Even as our number of interviewers increases, we will continually update ourtraining to improve interview quality to prevent mismatches and make ourorganization more attractive to potential hires.

Improving Engagement Through Pulse Surveys
We have introduced alerts to our monthly pulse survey, "MF Selfie Map," todetect declines in engagement in areas such as job satisfaction and growth
opportunities in real-time. All departments and HR will work closer to improve
employee engagement.

*Survey of all Regular Employees of the Group conducted in October 2023
(excluding Money Forward Vietnam). Each question is scored on a 5-point
scale. Survey response rate: 97%.

Talent Forward Strategy

03 Enhance Feedback and Training
As our business expands rapidly, expectations for each
employee increase every year. Therefore, it is imperativethat we strengthen support for the development of eachindividual.
We believe it is particularly important to develop talents
capable of managing an expanding and globalizingorganization at a higher level.
In addition, as 86%* of our employees are in their 20s
and 30s, we also believe it is essential to strengthen our
support for young employees to facilitate long-term
career development.

*As of the end of November 2022. See ESG data for details.

35

Talent Forward Strategy

Future Initiatives

36

Key Indicator

Thorough Feedback
Our monthly 1on1 rate is over 95%* and we have cultivated a culture ofpraising our co-workers on Slack and in meetings. In addition to praise, we
are updating our 1on1 training to improve the quality of feedback about
opportunities for growth and points for improvement. This way, we canfurther encourage the personal development of our talents. To makeEnhancement of MF Group Survey** Score
Feedback on good points and areas
for improvement is obtained fromsupervisors during evaluationinterviews and 1on1s.

4.2

My supervisor understands mycareer plans and aspirations, andsupports my long-term growth.

4.0Management encourages
employees to try new things
without fear of failure.

4.3

evaluations more convincing, we will encourage supervisors to provide not
only verbal feedback but written feedback as well.

Enhancement of Leadership Training
The Leadership Forward Program, which has been held for the past three

years for general managers, has added a new course for junior managers
to provide support for team building, critical thinking, and other areas
where newly appointed managers tend to struggle.
We are also introducing a new reading session for general managers andabove, which is an opportunity for them to interact and learn with generalmanagers from other departments, Directors, and CxOs.

*1 Results of responses to the "MF Selfie Map," a pulse survey of the Company andcertain Group companies.
**Survey of all full-time Group employees conducted in October 2023 (excluding
Money Forward Vietnam). Each question is scored on a 5-point scale. Survey
response rate: 97%

Talent Forward Strategy

04 and Organizational Design toPractice Strategic Allocation

Achieve Key Growth Milestones
In order to continue to achieve discontinuous
growth, in addition to encouraging individual growth,
it is also becoming increasingly important to conduct
strategic placement and organizational design froma management perspective, working backward fromthe future.
Our primary focus will be utilizing data andframework design to increase the organization’s
overall execution capability.

37

Talent Forward Strategy

Future Initiatives

Key Indicator

Develop and Implement Succession Plans
For key positions such as Directors and CxOs, we plan to accelerate the hiring and development of the next
generation of management by formulating succession plans and periodically confirming progress.

Make Better Strategic Transfers Based on the Will of Our Employees
By regularly assessing the aspirations and abilities of each individual, we can achieve optimal placement forEnhancement of MF Group Survey* Score
My department communicates
well enough to achieve ourgoals.

4.0

I am able to communicate
beyond my divisionacross the department
to achieve my goals.

3.7

both the employee and the organization. New graduates are transferred to different departments orreassigned to different roles within three to five years to gain experience in diverse operations andcollaborate with a wide range of co-workers. We believe that through this strategy we can develop talents
who will drive our business forward.

Discover and Develop Innovative Talents
For the company to continue to innovate, talents who can create new value from scratch are essential. We
strive to discover individuals who have the ability to think and act boldly, and assign them to new
operations. This is essential for employees and the business to achieve discontinuous growth.

Key indicators will be defined andimplemented for succession, strategic
Strengthen Collaboration
Even as the organization expands and remote work becomes commonplace, we aim to increase effective
communication to build strong camaraderie between co-workers. Employees spend two days a week in thetransfers, and the discovery and developmentof innovative talents.

office to create an environment where discussing and sharing ideas is easy. We are also strengthening
cooperation with our development bases in India and Vietnam to improve development speed and quality
for the group as a whole.

*Survey of all Regular Employees of the Group conducted in
October 2023 (excluding Money Forward Vietnam). Each questionis scored on a 5-point scale. Survey response rate: 97%.

38

Talent Forward Strategy

05 Enhance Productivity
Since its foundation, the Group has continued to invest
heavily in talents.
While we will continue to hire a certain number of
employees, each current employee will work to improve
productivity and profitability in order to achieve EBITDA
profitability in FY2024.

39

Talent Forward Strategy

Future Initiatives

Key Indicator

Appropriate Goal Setting and Thorough Progress Management

Enhancement of MF Group Survey** Score

Company-wide goals are set semiannually, and goals for each department andemployee are set based on these. We plan to enhance training to improve

middle management's goal setting and administration skills, thereby

My department’s goals and strategies areclear and appropriate, and are conveyed
to and understood by all

4.0

The company continues to improve
internal productivity (through operationaland cost improvements)

4.0

40

deepening their understanding of higher-level goals and improving theaccuracy of progress management and course correction.
In FY2023, each development team began measuring their performance basedon the Four Keys*. Starting FY2024, we will establish quantitative key indicatorsfor other organizations and develop a framework for monitoring andimprovement.

Use of Cutting-Edge Technologies Such as Generative AI
By launching our Generative AI project, we aim to radically improve
efficiency and the customer experience not only in development, but also

Continuous improvement in annual sales per
employee
Q3 FY2023 JPY14.57M
Reference: +22% YoY from JPY11.93M yen in Q3 FY2022

in sales, HR, and all other job types and job areas.
*Four indicators used to measure software development team performance.
** Survey of all full-time Group employees conducted in October 2023 (excluding Money
Forward Vietnam).
Each question is scored on a 5-point scale. Survey response rate: 97%

Talent Forward Strategy

Improve Gender Equality

06 at the Decision-Making Level
While women account for 35% of all our employees, only 19% arecurrently in management positions*.
We recognize that it is important to incorporate diverse
perspectives into management decision-making. Increasing thenumber of women decision-makers, currently our largest
minority group, is an important part of this effort.

*As of the end of November 2022. See ESG data for details.

41

Talent Forward Strategy

Future Initiatives
Minimizing Unconscious Bias
We will continue to conduct regular company-wide
unconscious bias training, as well as continue toshare information to deepen understanding of DEI.
We will also use data to verify whether unconscious
bias is occurring at any stage of the employment
journey, including recruitment, evaluation,
promotion, and training, and will accelerate efforts

to correct this bias where it is found.

Creating an Environment
Conducive to Taking on Challenges
To reduce anxiety and encourage women to takethe next step forward, we will share more examplesof employees who continue to work after major life
events and promote interaction acrossdepartments and age groups.

Key Indicator
Enhancement of MF Group Survey* Score
In this organization, differences are respected and people
communicate with mutual respect for one another.

4.3

This organization finds value in having perspectives
and opinions from various standpoints.

4.2

Improvement of MF Group Survey Score by FY2025
I would like to take up a management position or a position withgreater responsibilities than what I have right now, if offered.

4.0 orhigher

Reference:
As of August 2022: 4.2 for men, 3.8 for women → As of October 2023: 4.2 for men, 3.9 for womenClosing the Gender Gap in Each Grade** by FY2025
Difference in mean grade between men and women with the same job type0.2 orless

Reference:
As of February 2023:
0.4 for engineers, PdM, etc.; 0.5 for designers; 0.6 for business professionals; 0.6 average for all occupations
As of November 2023:
0.4 for engineers, PdM, etc.; 0.4 for designers; 0.6 for business professionals; 0.6 average for all occupations*Survey of all Group full-time employees conducted in October 2023 (excluding Money Forward Vietnam).
Each question is scored on a 5-point scale. Survey response rate: 97%.
**Full-time regular employee grade. Excludes Company Executive Officers, Inclusive Employment (employees withdisabilities), and employees whose grade has not yet been determined due to probationary period, etc.

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07

Adapt to the Globalization of
the organization
After opening our overseas offices in 2018 andremoving the Japanese language requirement for
new hires in 2022, the Group now employs talentsfrom over 30 countries and regions around theworld.
This has led to an urgent need to update our work
environment so our employees can transcend
cultural and language barriers to foster mutual
respect and work comfortably together.

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Talent Forward Strategy

Future Initiatives

Key Indicator

Making English the Official Language of ourEnhancement of MF Group Survey* Score

Engineering Organizations
To make English the official language of our engineeringorganizations, we plan on further improving the quality of our inhouse English training for learners of all levels.
In addition, we will expand our team of translation andIn this organization, differences are respected andpeople communicate with mutual respect for one
another.

4.3

This organization finds value in having
perspectives and opinions from various
standpoints.

4.2

interpretation specialists to provide stable, seamless
communication between Japanese and English speakers.

Making English the Official Language of theEnhancing our Training and Follow-Up System

Engineering Organizations by FY2024

for Non-Japanese Employees
In addition to promoting the hiring of talents with management
experience in global organizations, we will enhance our training
programs to develop employees capable of managing at the global
level, including cross-cultural communication training.

Percentage of engineers with TOEIC scores over
700 or equivalent

100%

Reference: January 2023 results: 41%; November 2023 results: 72%
In the future, as we continue to reach for higher level English proficiency,

we also intend to set key indicators to close the grade gap between

In addition, we will make an effort to enhance training for non-Japanese and non-Japanese employees to even out the average grade forJapanese employees, which is currently more limited than theemployees of all backgrounds.

training available to their Japanese counterparts.

*Survey of all Regular Employees of the Group conducted in October 2023 (excluding Money
Forward Vietnam).
Each question is scored on a 5-point scale. Survey response rate: 97%

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Talent Forward Strategy

CEO x CHO
Face-to-Face Interview

45

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Talent Forward Strategy

47

Our Founding Philosophy
Ishihara: I joined Money Forward in 2016, and even then the idea thatpeople are important to the growth of an organization was deeply
ingrained in the corporate Culture. Was this something you had in mind
when founding the Company?

If you look at profit and loss statements, people are only a cost. However,
it is the ideas of people that create value, and the strength andcommitment of each individual that makes a company competitive.
I think this is why this idea of people coming first has been with me
since our founding.

Tsuji: I believe that human beings have infinite potential. In each of us is
the ability to achieve more than we ever imagined, and the key toIshihara: That is so true. The influence of each individual can still be

unlocking our true potential is being fully engaged in work that we love.

felt in our Company. Especially at Money Forward, where we often

Work that gives us a sense of fulfillment. This is why I feel cultivating

work in small teams, I feel that many of our employees are conscious

each of our employees’ unique characteristics and aspirations is essentialof this in their daily work.

to the growth of the organization.
Another thing I have come to realize through management is that asingle person can have a giant impact on the organization. It is notuncommon to see a department suddenly run smoother, or theatmosphere of the Company lighten up after hiring just one person. Thisremains true even as we have grown to an organization of thousands ofpeople. Many faces come to mind. That is how big the impact of one
person can be.
Especially in IT service businesses like ours, people are everything.

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48

Initiatives for Rapid Organizational Expansion
Ishihara: Over the past two years, our number of employees has“TERAKOYA,” our peer support program for Japanese language learning,doubled to over 2,000. During this rapid growth, what were some ofwas originally started by an employee. I think that really shows what ayour biggest areas of focus in terms of people and thewonderful organization we have. Three points I consciously focused onorganization?

were articulating our core values, making good use of data, anddeveloping competent leaders.
As for the articulation of our values, this can be seen in our key priorities
for sustainability (Materiality) which we published in 2020, and in our

Action Guidelines, which were developed in conjunction with the Values
and Culture update in 2023.
As our number of employees increased, we felt it was essential to clearlylay out the values we had until then practiced but not yet explicitly
expressed in words.

Tsuji: In our current situation, not only have our numbers grown,

The next area I focused on was data, which we mainly use for earlybut our group of employees has become more diverse. Non-detection of issues within the organization. In a large organization, fixing

Japanese members have increased, and the world demands morea problem after it blows up requires 100% of your energy. However, If you

DEI (Diversity, Equity & Inclusion).

can detect the problem before it snowballs, it may only require 5%.

However, I don't feel that we were forced to make a big change

At this scale, it is impossible to grasp the entire situation with manpower

there. Money Forward has always had a culture of accepting others,alone. It is therefore necessary to use data to monitor the organization

and I feel that this has only been reinforced.

quantitatively and systematically to take appropriate measures before
problems escalate.

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49

Ishihara: We prepared several surveys with different purposes so that HR
and managers can use the data gathered from the results and identify
issues at an early stage.
I think that without these systems in place, a fatal organizational andcultural breakdown could have occurred before we had a chance to stop it.
Tsuji: I, too, was truly afraid of a culture collapse.

Operating systematically may seem dry at first, but it is absolutely
necessary in order to generate time to deal with what is really important.
At the same time, we are all people with human emotions, and I don’t
want to make the structure too rigid.

Future Initiatives

It’s tough to find the right balance between overall optimization andpartial optimization. The time that we save through structuring is used to

Ishihara: In our human capital report, we specified our short-term andengage in dialogue with each employee individually. I really think our

medium-term priorities. Going forward, what do you want to spendcompany spends a lot of time on people.

your time focusing on in order to achieve further growth?

We have also put a lot of focus on leadership development. This is because
we want to pay genuine attention to the development of each employee

Tsuji: All of our specified key priorities are important, and I will

and meet their needs. With this in mind, we created new training

continue to be commit time to all of them. As a manager, I believe

programs such as the "Leadership Forward Program" and 1on1 training.

that I am especially responsible for discovering and developing

In addition, when it comes to selecting employees for leadership positions,innovative talents, fostering the next generation of management, andpersonality has become more important than performance and results.

succession planning.

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As for “discovering and developing innovative talents,” I think that as an

It is important to continue to remind our employees to ask

organization grows, the number of smart, precise employees who arethemselves “why do I work and for what do I work?” in both thegood at developing existing businesses will inevitably increase. Those

practical and abstract sense. As Money Forward continues to grow, it

people are definitely important and necessary, but at the same time, if

won’t always be smooth sailing.

you hire only those types of people, you run the risk of undermining

I think we will experience times when we hit a wall. I think the true

creative geniuses whose ideas can bring us dramatical change ortest of this human capital strategy will be in whether or not ourinnovation.

employees will want to weather the storm with us when the seas get

In this day and age, if a company cannot create a new business every fiverough.

to ten years, it will no longer be able to grow. As organizations mature,
more and more people will remind you that you need to hedge risks. This
is why I think discovering and nurturing the type of employees who will
innovate and create our next business is a challenge for the future.
I also think fostering the next generation of management and succession
planning are important to building a strong management team that willlead the company over the next ten years.
It is also important for the current management team to further gothrough learning opportunities and improve the quality of management.
To strategically foster the next generation of management, we need toprovide systematic learning, and consciously create opportunities for

feedback. With all that, I believe we will be able to create a sustainableorganization.

Ishihara: We definitely want to work together to continue to update
our talents strategy to be able to get us through both good and bad
times.

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