Investors’ Guide 2022

Outline of U.S.M.Holdings

Network

Striving to be No.1 in the region, we develop store
formats aimed at increasing customer satisfaction.

Enhancing the integration of thethree companies and continuously
responding to customer needs inlocal communities
Tochigi
Prefecture
8 stores

Maruetsu

The Maruetsu, Inc.

Maruetsu brand development

MaxValu Kanto

In order for customers to enjoy shopping every day, we are developing “Maruetsu,” which focuses on fresh food, “Maruetsu Petit,” an urban-format supermarket
targeting customers living in urban areas, and “Lincos,” a high-quality supermarket
offering products that are delicious, valuable, and somewhat luxurious (including
two stores in China).

Kasumi Co., Ltd.

KasumiGroup total:

304
189
30
523 stores

7

Gunma
Prefecture
4 stores

4

3

108

12
2

33

SaitamaPrefecture
90 stores 54*The two Maruetsu stores in China are not included.

Tokyo
163 stores

Kasumi brand development

1

Kanagawa 2
Prefecture
51 stores 49

149

IbarakiPrefecture
109 stores

13
Chiba
Prefecture 35
98 stores

50

We are developing “BL NDE,” a new kind of supermarket where people, food,lifestyles, and culture mix together through products and services, “Food Square,”a food specialty store offering food and groceries, “Food Market,” a store offering
fresh products and convenience, and “Food Off Stocker,” a price-appealing store
offering everyday low prices.

MaxValu Kanto Co., Ltd.

MaxValu Kanto brand development

We are developing the “MaxValu” format, which aims to maximize value for customers shopping for daily groceries in terms of quality, price, range, and service,
as well as the “MaxValu Express” format based on the concept of offering convenience, competitive prices, and surprising variety that changes daily for those
shopping for everyday necessities.

Business Philosophy of U.S.M.Holdings

1

1(As of May 31, 2022)

Connecting with customers, local communities, and the times
Aiming to provide new value and satisfy customers beyond expectations, U.S.M.Holdings willcontinue to pursue innovation as a company rooted in local communities.
In order to respond to changes in the environment, such as international situations and significant changes in customer
lifestyles caused by the COVID-19 pandemic, we will promote structural reform based on digitalization, provide customers
with new value such as “new customer experiences through digital reform” and “impressive food experiences,” and aim tocreate new supermarkets that are deeply connected to local communities.

Our core philosophy

Business VisionWeOffer customers healthy, valuable choices infoodCultivate deep relationships to build prosperous
local communities
Constantly pursue innovation and move with

the times

In our business, we aim toOffer products and services tailored to various lifestylechoices that give customers access to a range of healthy,
valuable foods
Create a corporate culture that supports employee self-fulfillment by providing skills training and encouraging people
to achieve their potential
Continually develop and grow over time while seeking tomaximize enterprise value
Create new value based on fair dealings with our business
partners for customer benefit
Welcome new companies into the group to help us meet theneeds of local communities and engage in fair, transparent
corporate governance while respecting the management ofeach member company of U.S.M. Holdings.

Successively opening new stores and refurbished stores that offer a new kinds of supermarkets
Maruetsu Musashi Shinjo StoreBL NDE Kenkyugakuen Store

MaxValu Higashi Narashino Store

Opened in November 2021

Opened in February 2022

Reopened in July 2021

2

Message from the Management

Medium-term Business Plan

Overview of the Mediumterm Business Plan
Further integrating the

The U.S.M.Holdings Group is
working on the second medium-term business plan which
extends for three years until thefiscal year ending February 28,
2023. During this fiscal year,
which marks the final year of theplan, we will respond to changing customer needs and speed
up further reforms centered on
digital reforms by operating various projects and addressing
the four key management issuesof cost, products, e-commerce,and personnel systems, whilelooking back on the previous
fiscal year. In this way, we willachieve the goals of the second
medium-term business plan.

digital and non-digital, we
aim to establish a businessmodel that provides
unrivaled value
Motohiro Fujita
President andRepresentative Director

Currently, instability continues as we face the rapid

customers’ tables and are working to further expand

inflation of daily necessities due to soaring energy

sales.

costs and exchange rate fluctuations triggered byWith regard to our stores, which we consider to bechanges in the international situation, as well as thethe most important points of contact with customers,

renewed spread of COVID-19. In response to this sit-

we have promoted initiatives to try out new store

uation, the consumption behavior of customers hasconcepts while keeping pace with digital develop-

become significantly different, and we are entering ament at MaxValu Oyumino Store, Maruetsu Fu-phase in which it is extremely important to flexibly re-nabashi-Miyama Store, Kasumi BL NDE Tsukuba-

spond to changes in our management.

Namiki Store, and Kasumi BL NDE Kenkyugakuen

Based on the idea of “promoting structural reform

Store. Going forward, we will continue to develop

based on digitalization and laying the foundation forthese initiatives, further integrate them with digital

the next generation” set forth in the medium-term

technology, and evolve in order to establish a businessbusiness plan, we are promoting initiatives formodel offering value propositions that include themulti-channel services that bring about shopping ex-

Company’s unique convenience and entertainment inperiences in various scenes, such as by reforming

customer services.

the functions of our original smartphone app “Scan &Moreover, we will promote growth by incorporating

Go.” In addition, a plant factory prepared in collabo-

solutions to various global issues, including environ-ration with PLANTX, which aims for new vegetablemental issues, into our business. Sustainable man-cultivation technology, have started full-scale opera-

agement is essential for our continued co-existencetion. We consistently design sustainable, safe, andwith society in the long term. During the current fiscal

delicious lettuce that reduces the environmental bur-year, the entire Group will continue to aim for the fu-

den on water resources and soil using science andture and contribute to a sustainable society.

technology, from product development to sales. As aresult, we are able to deliver highly fresh lettuce to3

We sincerely appreciate your continued patronageof our Group.

Promoting structural reform based on digitalization, we repeat
collaboration and emergence to “satisfy every need for food foreveryone” that is laying the foundation for the next generation.
Structural reform
Cost reform
Format reform
Work style reform

Satisfy every need forfood for everyone

Open relationship

Customer
Job · Well-being
Happiness

Collaboration

Environment

Emergence

Sustainable

Digital reform/New digital foundation
Open organizational culture/Strategy-oriented leadership

Four Reforms
We are promoting structural reforms based on digital reforms. At the same time as reforming our cost
structure and establishing a solid foundation of revenue, we will promote a shift to a new growth model byreforming our existing format and business model structure to capture customer changes with the aim of
securing next-generation growth.
Strategy

1

Cost reformS hift from indirect to direct costs, allocate cash to reform and innovation areas
Shift from opening new stores to revitalizing existing stores, shift toward digital

Strategy2Format reform eturn from a business perspective to a customer perspectiveRFormat transform through active investment in existing stores

Strategy

3Work style reform

Strategy4

Digital reformShift focus on customer contact point from operations
 ore systems (ERP, AI) for new work styles
CCreate new customer experiences

Launch of open innovation platform initiatives“Collaboration”
and“Emergence”

In order to respond to dynamic social changes and further accelerate co-creation with partner companies that have unique technologies, we launched the open innovation platform “AKIBA Runway” tocollaborate and co-create with companies with unique technologies, going beyond the boundaries of
the Group, in March of the current fiscal year.
A specialized team searches for partner companies and builds relationships with them in order tocreate new value propositions in the retail industry. The technologies of partner companies will belinked to resources such as the Group’s store network of more than 500 stores, and after the completion of demonstration experiments and effectiveness verifications, we will move forward with thestart of sales and operations.
We have conducted interviews, etc. for more than 40 projects thus far, and some projects have already begun. Our goal is to create new value propositions by co-creation of retail business andtechnology.

4Initiatives to Maximize Customer Experience
Promotion of digital reform

ignica_logo_CMYKCreating an environment that provides convenience and entertainment to customers
In the age of a 100-year lifespan, customers’ lifestyles and expectations for food are changing significantly,
environmental changes such as population decline and changes in climate and international situations.
following matters.

Scan & Go

due to the progress of digitalization in addition to
Amid such changes, the Group is working on theOnline Delivery

Digital Signage
This is an ad distribution andmarketing service that uses AI
digital signage. We propose
even more enjoyable shopping experiences than everbefore by creating a signage
network and distributing
content that provides value
to customers, such as product information, recipe videos,
and more.

Ignition for cultural life
Ignica is the new brainchild of U.S.M.H in the hope of igniting new style and belief in people and corporations.

Ignica key services

Scan & Go
Online Delivery

No cash register designs your smart shopping

Shop in your own style and time

Scan & Go is a payment service that sees customers’smartphones become cash registers. This service iscontactless, with no need to line up for the cash register.
It is a new checkout solution that enables customers toenjoy stress-free, comfortable shopping at stores.

Our online delivery is a food delivery service that enables
customers to order the products sold at our stores via
smartphone, tablet, and computer, and receive them attheir homes, a designated location within delivery areas,
or at stores. Customers can also enjoy internet shopping
for carefully selected products.

During the previous fiscal year, in addition to integrating
online delivery into Scan & Go, we added convenientfunctions and services such as store pick-up and nutritional balance check. Currently, Scan & Go is available atmore than 500 stores, and unstaffed stores “smart petit,”“KASUMI LABO,” and “Office Smart Shop” that use thistechnology are also expanding as necessary.

The new store pickup service, where customers use an
app to unlock the security lock for a pickup room, offers
a new contactless shopping experience that is entirelycompleted via smartphone, from ordering online to collecting items.

Digital Signage
Self POS System<Pick up at home>

As ignica is being developed on a highly-scalable platform, we are focusing on adding convenient functions
and services, and turning it into a multi-channel service
with a smartphone app that allows for shopping experiences in various scenarios.
In addition to actively introducing these services in theGroup’s Maruetsu, Kasumi, and MaxValu Kanto stores,
we introduced them in companies outside the Group,
and we will continue to make progress moving forward.

<Pick up at the store>

Self POS System
This is a user-friendly self POS
system. It is contactless, so it
enables customers to makepayments with peace ofmind.

Simple andeasy shoppingat yourfingertips!

Download the app

https://od.ignica.com/

https://ignica.com/

56

Format reform

Private-label Merchandise

Initiatives to explore new kinds ofsupermarkets
During fiscal 2021, Kasumi opened two new stores under the nameof BL NDE as an initiative to explore new kinds of supermarkets informat reform.
Since reopening the MaxValu Oyumino Store in October 2020, we
have implemented new initiatives little by little, verifying them repeatedly. After the opening of Maruetsu Funabashi-Miyama Store in
February 2021, we have been working to evolve the prototype into
Kasumi BL NDE, while synchronizing with digital development.

Bringing valuable products
into your home

Encounter with carefully selected excellent “eatime” products makes every-day dining a more enjoyable experience
U.S.M.H’s private-label merchandise “eatime” pursues deliciousness, focuses onfood cultures and specialties rooted in various regions, aims for high quality andreasonable prices, and proposes new value.
We aim to make dining a more enjoyable experience, where one can discover not
only deliciousness, but also various things, including happiness.
Through food, we want to deliver more enjoyable experiences than everbefore. With that in mind, “eatime” was born by combining “eat” and“time.” We will enhance the product lineup and develop it further.

MaxValu Oyumino Store
The MaxValu Oyumino Store has undergone a large-scale refurbishment
and been reborn as a shopping-experiential supermarket that adds fun
and excitement to customers’ daily shopping.

Reopened
October 16,
2020

eal kit
Online delivery m ly via
offered exclusive site
e-commerce web

A supermarket that offers enjoyable experiences supermarket that stimulates the five senses ofAcustomers
A supermarket that is preferred by customers
A supermarket that can have purposes other than
shopping

All customers can easily enjoy balanced
meals of main dishes
and side dishes witheasy-to-understand video
recipes with 2D codes.

Maruetsu Funabashi-Miyama Store
The Maruetsu Funabashi-Miyama Store was born as an experiential supermarket that responds to customer needs and changes in the market
environment, and utilizes digitalization and the strengths of real stores.
By providing the following four values as an experiential supermarket,
we are striving to create a store that makes customers smile and that
contributes to the realization of a sustainable society.

OpenedFebruary 26,
2021

Freshest in the areaE ncountering products according to location andtrade area characteristics
A “zero-stress” store environment that responds tothe new normal
Customer service and connections that are close to
the local community and customers

BL NDE Tsukuba-Namiki StoreThe new business format, BL NDE, aims to create stores where people, food, lifestyles, and culture blend together through products andservices.
Under the concept of Food, Health, Beauty & Welness, the BL NDE
Tsukuba-Namiki Store has developed a new sales floor with the themeof food and healthy beauty through fusion with the drugstore Welcia
Yakkyoku, and provides local customers with a new shopping experience and new products. The store aims to offer newvalue as a store that provides smiles as well as physiOpened
cal and mental health, and that continues to be choJanuary 28, sen by customers.

2022

7

Enjoy professional flavors at homewith recipes supervised by chefs, culinary experts,
and nutritionists!

No wasted foodas it contains only the necessary amountof ingredients!

Recipes andingredients withno menu needed

Easy 20-minute authentic cooking

with pre-prepared ingredients and chef-directed recipes
and seasonings!
Main and side dishes included so

you can provide a balanced meal for your family

Retail Chef Academy

Developing human resources who can provide product value
Amid changes in society and lifestyles, the supermarket industry must also transform to meet the new times. From theperspective of developing human resources who can provide
new product value, we launched the Retail Chef Academy, acooking learning program for employees. The degree of satisfaction among participants is high, and various results havebeen produced at the actual site, such as product proposals
that transcend the walls between departments, creation ofsales floors from the perspective of consumers, and productdevelopment from unprecedented perspectives.

8

Environmental Initiatives

Basic Environmental Policy

Initiatives to Eliminate Plastics

Promoting Storefront Recycling Activities

At all Maruetsu, Kasumi, and MaxValu Kanto stores, weare reducing plastic usage by introducing environmentallyfriendly materials (containing plant-derived biomass) forthe cutlery (spoons, forks) provided to customers for prepared foods and boxed lunches and 3L size carrier bags.
In the future, we will further promote the reduction ofplastic, such as by introducing paper dessert spoons.

At all U.S.M.H Group stores, we run storefront recycling
activities together with our customers. At Kasumi, collected resources are sorted, compressed, and packaged
at Kasumi Recycling Center, and are recycled into a variety of products in cooperation with specialist recycling
plants.

The United Super Markets Holdings Group recognizes that environmental problems
constitute a critical global issue and makes concerted efforts to protect the global environment, by contribution to building a sustainable recycling society through soundbusiness activities that foster social and economic development and harmonious
coexistence with local communities.
1. We actively work to conserve resources and energy through our business activities.
2. We work to develop and popularize environmentally friendly products and materials.
3. We promote waste reduction and the Three Rs: reduce, reuse and recycle.
4. We contribute to local environmental protection activities and strive for harmony
with local communities.
5. We familiarize employees with this policy, nurture a spirit of environmental protectionin each individual, and engage in group-wide activities that involve all employees.
6. We announce this environmental policy to our employees and the public and strive toprovide information on our activities proactively.

Waste Reduction Efforts and Waste
Visualization

U.S.M.H’s Sustainable New Brand

Green Growers

You are what you eat

The U.S.M.H Group has introduced a waste weighing
and management system to reduce the amount of waste
produced.
The first step in waste reduction is understanding thetypes and amount of waste. By visualizing waste, we areboosting the waste-reduction mindset of employees.

Food is not all about flavor—it should also be safer,and more environmentally friendly from now on. By
choosing sustainable products, we can leave behindthe beautiful planet for the children of the future. Afterconsidering such wonderful products, we created abrand that is both delicious and kind to our bodyand our earth.

9

The U.S.M.H Group is promoting the installation of solar
power generation equipment on store roofs. We are aiming to reduce CO2 by using it to supplement the power
used to operate some stores. Additionally, at Maruetsu,
we are working to enhance our services and reduce ourenvironmental impact by introducing quick charging stations for electric vehicles (EVs) in stores.

Community-Contained Recycling Model “Food Recycling Loop” Certification

Lettuce from sustainable plant factories
The first product of Green Growers is lettuce grownat our plant factory “THE TERRABASE” in TsuchiuraCity, Ibaraki Prefecture.
Our consistent involvement from product development to production and sales shortens the time fromharvest to sale, ensures a stable supply, and enables
us to deliver highly fresh lettuce to our customers’
tables at any time.
Our lettuce is grown hydroponically. In the hygienic
and closed cultivation racks inside the factory, theoptimal amount of light, air, and nutrients are carefully controlled using science and technology. As a result, it is possible to harvest lettuce that is safe,
secure, highly nutritious, and soft yet crunchy.
The lettuce requires only a small amount of waterto grow, and pesticides are not used during cultivation, making it good for both the environment andthe body. We will continue to expand the number ofstores selling it.

Efforts to Reduce CO2 Through Solar Power reen Growers
G
official brand website

https://mygreengrowers.com/

In October 2021, Kasumi obtained “Recycling Business Plan” certification from
the Minister of Agriculture, Forestry and
Fisheries and Minister of the Environment
based on the Food Waste Recycling
Law.
Collection and transport companies
pick up food recycling resources sorted
at Kasumi stores in Gunma Prefecture,transport them in a refrigerator truck anddeliver them to recycling businesses operators for conversion into animal feed.
Eggs are collected from chickens fed
with this feed mix at poultry farms, which
are then processed into boiled eggs, andmade and sold into boxed lunches containing boiled eggs and other products at
Kasumi stores. By doing so, our Food
Recycling Loop has been certified.
In the future, we will expand the number of participating stores to promote
food recycling throughout the Group,with the aim of achieving sustainable
management.

Sorting food recycling
resources, such as foodleftovers, at Kasumi
stores

Produce and sell
boxed luncheswith boiled eggs
at Kasumi stores

KasumistoresTransported in arefrigerator truck

Collection andtransport
company

Wholesaler
Approximately 25 t of food recycling resources are produced
per year at food recycling stores

Boiled egg
production
plant

Establish Food Recycling Loopby producing and selling boxedlunches with boiled eggs

Collecting eggs fromchickens fed with feed
mixed with ecofeed

Poultry farm

Recyclingbusiness
operator

Feedproducer
Processing foodleftovers, feed (eco-feed)
production

10

Contributions to Society

Corporate Governance

Activities to Contribute to Society

Basic Policy on Corporate
GovernanceFood Bank/Food Drive(1) Respect the autonomy and independence of the operating companies and ground corporate governance in the basic principles, vision, and mission formulated at the time the Company was established based on the common principles “Customer-first” and “Contribution to local communities.”(2) Maintain transparency and fairness in decision-making to ensure appropriate cooperation with shareholders and other stakeholders.
(3) Regard shareholders with whom appropriate cooperation can be achieved from a medium- and long-term perspective, particularly customer shareholders who provide opinions through their daily shopping, and other stakeholders as important partners. Create an environment that enables constructive dialogue with these stakeholders and develop a framework to reflect their feedback in management.
(4) On the basis of (1) to (3) above, demonstrate a healthy entrepreneurial spirit by ensuring rationality in the management decision-making process and strive for the Company’s sustained growth and enhancement of medium- and long-term corporate value by
realizing prompt and decisive decision-making.

Donations to Support Children’s Cafeterias

Support for Guide Dog Training

Since 2020, Maruetsu has
been sending contributions
and donations received from
customers in donation boxes
at stores to children’s cafeterias in store areas every month
via an authorized NPO.

We have been running guide dog
training donation activities since
1993 at Maruetsu and since 1998
at Kasumi, supporting the trainingof guide dogs with the cooperationof our customers.
In addition, all Maruetsu, Kasumi, and MaxValu Kanto stores allow customers to enjoy shoppingwith assistance dogs (guide dogs,
service dogs, and hearing dogs).

The Board of Directors consists of nine directors (including
three outside directors). The Board meets once a month,in principle, and holds extraordinary meetings as necessary. The five corporate auditors attend Board of Directors
meetings. At Board meetings, the directors deliberate andresolve matters prescribed by law and matters set forth in
the Board of Directors Regulations and oversee the execution of business by the directors on the basis of regulatorycompliance and appropriate risk management. As a pureholding company, the Company requires the operatingcompanies to report to the Company important resolutions
and governs the appropriate execution of business operations by the operating companies.

The Audit & Supervisory Board consists of five corporate auditors (including three outside corporate auditors). The Board meets once amonth, in principle, and holds extraordinary meetings as necessary. At
Board meetings, the corporate auditors receive reports on, discuss, andresolve important audit-related matters. The corporate auditors audit
the legality of the execution of duties by the directors, the status of assets, and other matters in accordance with the audit policy and divisionof duties established by the Audit & Supervisory Board. The Audit & Supervisory Board convenes meetings of the Group Auditory & Supervisory Board Liaison Committee for the purpose of cooperating with thecorporate auditors and internal audit departments of the operatingcompanies, strives to ensure highly effective auditing, and works to reinforce the governance function and internal audit function.
(As of May 20, 2022)

Corporate Governance Structure(As of May 20, 2022)

General Meeting of Shareholders
Election/Dismissal

Oversight
Collaboration

Audit &
Auditing
Supervisory Board(Corporate auditors)

Accounting auditor
Audit corporation

Maruetsu established the special subsidiary of Marno in 1992. Persons with disabilities have been actively participating in work such as administrative cover andproduct display at stores.
At Kasumi, we have surpassed the legally stipulated employment quota, establishing the special subsidiary Kasumi Mirai in 2018 and expanding the scope of activities to include tasks such as vegetable processing and packaging.

Collaboration

Oversight

Group Auditory &Supervisory
Board Liaison Committee

Reporting

We have been continually running the AEON Happy Yellow Receipt Campaign at
MaxValu Kanto stores since 2001. We will continue this program in the future, as
we deliver the sentiments of our customers expressed through shopping to local
volunteer groups near our stores.
11

Oversight/
Election/Dismissal Policy
reinforcement

President andRepresentative
Director

Collaboration

Management
CouncilReportingInternal Audit
Department• Internal control• Auditing

Resolution/ Resolution/
Approval ApprovalInternal
auditing

President and Representative
Director

Motohiro Fujita

Vice President andRepresentative Director

Ryota Furuse

Vice President andRepresentative Director

Shinichiro Yamamoto

Vice President and Director

Satoshi Shimada

Director

Masaharu Homma

Director and Advisor(part-time)

Motoya Okada

Outside Director(part-time)

Akira Terakawa

Independent Outside Director(part-time)

Shigekazu Torikai

Independent Outside Director(part-time)

Naoko Makino

Corporate Auditor (Standing)

Tadayoshi Yoyogi

Corporate Auditor (Standing)Masami Sakamoto

Outside Corporate Auditor(part-time)

Koichi Ihara

Outside Corporate Auditor(part-time)

Hirofumi Ishimoto

Independent Outside
Corporate Auditor (part-time)

Shinobu Okamoto

Corporate departments
Reporting

Auditing

Happy Yellow Receipt Campaign

Board of Directors(Directors)

ReportingAccounting auditing

Promotion of Employment of Persons with Disabilities

Directors and Corporate Auditors

Special Committee

At Kasumi, we have been carrying out mobile sales to deliver products to areas where
it is inconvenient to shop since 2013. Partnering with municipalities and the local community, we were operating in 13 cities, four towns and one village in Ibaraki Prefecture,ten cities and two towns in Chiba Prefecture, four cities and one town in Saitama Prefecture, and three cities and one town in Tochigi Prefecture as of June 30, 2022, offering about 650 items, including fresh food, prepared foods, milk, and bread.

Audit & Supervisory Board

Evaluation Advisor
Committee

Mobile Supermarkets for Areas where it is Difficult to Shop

Board of Directors

Human Resources andCompensation Advisory Committee

Kasumi started food bank activities in 2016,
and food drive activities in 2021. Maruetsu
also conducts food drive activities, and participating stores are being expanded at both
Kasumi and Maruetsu. In addition to donating
food to vulnerable members of the local community and children’s cafeterias through social
welfare councils and NPOs, we are working
to reduce food waste. As of fiscal 2022, weplan to start food drive activities at MaxValu
Kanto as well.

Corporate auditors/
Audit departments

Management guidanceApproval of important matters

Subsidiaries

Reporting

For details of the Corporate Governance
Report, please see:https://www.usmh.co.jp/company/governance12Group Initiatives

Consolidated Financial Statements (As of February 28, 2022)
Consolidated Balance Sheet
Account

Consolidated Statement of Income(Millions of yen)2021/2

Account

2022/2Current assets

Operating revenue

385,808 million yen

282,024 million yen(97.6% year-on-year)

Operating income(97.9% year-on-year)

Operating income

5,776 million yen

6,094 million yen(58.2% year-on-year)
Ordinary income(74.5% year-on-year)
Ordinary income

6,350 million yen

6,459 million yen(63.9% year-on-year)
Net income(76.7% year-on-year)
Net income

3,102 million yen

44,552 million yen(95.4% year-on-year)
Operating income

631 million yen(60.8% year-on-year)
Ordinary income

613 million yen(59.6% year-on-year)
Net income

3,315 million yen(84.7% year-on-year)(49.6% year-on-year)

As a food supermarket chain withupward of 300 stores in six prefectures in the Tokyo metropolitanarea, we are working to evolve into
stores that are close to our customers, shift to a sustainable management structure, and promotestrategic investments to address
climate change, with a basic themeof creating customer contact points
through digital integration.

Driven by a mission to create dining
experiences of shared joy, we will
deliver new value to customers andlocal communities. Making best useof various management resources
such as the rich natural environment,
diverse human resources, and local
traditions and food culture, we are
striving to realize a rich diet, solve
social issues, and create a company where everyone can be healthy
and active.

We are working to promote the horizontal expansion of shopping-experiential supermarkets, strengthen
product development and procurement capabilities, and promote digitization. At our shopping-experiential
supermarkets, we are conducting
store revitalization with an eye toproviding four value propositions: 1.
enjoyable time spent in store; 2. stimulating the five senses; 3. matching
personal preferences; 4. incentives
to come to store for purposes otherthan shopping.

The Maruetsu, Inc.

Kasumi Co., Ltd.

MaxValu Kanto Co., Ltd.

Head office: 5-51-12 HigashiIkebukuro, Toshima-ku, Tokyo
Business
Supermarket business for retail sales offoods, household goods, apparel, etc.

Head office: 599-1, Nishiohashi,
Tsukuba-shi, Ibaraki Prefecture
Business
Supermarket business for retail sales offoods, household goods, apparel, etc.

Head office: 5-30-3 Kameido,
Koto-ku, Tokyo
Business
Supermarket business for retail sales offoods, household goods, apparel, etc.

https://www.maruetsu.co.jp/

https://www.kasumi.co.jp/

3,191
4,300
5,419

8,845

5,374

Consolidated Statement of Cash Flows(Millions of yen)

47,014

Total non-current assets

198,705

202,096

285,090

280,741

Ordinary income
Extraordinary income

92,359Extraordinary losses
Income before income taxes andminority interests
Income taxes – current

Non-operating income
Non-operating expenses

91,353

Total income taxes
Net income

Non-current liabilities
Total non-current liabilities
Total liabilities

44,93936,143

136,292

128,502

147,867

150,985

Profit attributable to owners ofparentNet assets
Shareholders’ equity
Total shareholders’ equity

Account

Accumulated other comprehensive
incomeTotal accumulated othercomprehensive income

295

487

Share acquisition rights

182

211

Non-controlling interests

451

553

Total net assets

148,797

152,238

Total liabilities and net assets

285,090

280,741

Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Effect of exchange rate change on cash
and cash equivalents
Net increase (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of
periodCash and cash equivalents at end of
period2021/22022/2

29,919(15,935)
4,137

16,016(24,324)
2,391

(22)

297

18,099(5,619)20,018

38,118

38,11832,498

Corporate Data and Stock Information (Fiscal year ended February 28, 2022)
Corporate Profile

Stock Information

Established

MaxValu Kanto

https://www.mv-kanto.co.jp/

March 2015

Number of shares authorized

500,000,000 shares

10 billion yen

Number of shares issued

131,681,356 sharesBusiness

Management of supermarket business

Number of shareholders

98,302

Head office

1 Kanda Aioi-cho, Chiyoda-ku, Tokyo

CapitalMajor Shareholders
Shareholder name
Aeon Market Investment Co., Ltd.
The Master Trust Bank of Japan, Ltd. (Trust Account)
U.S.M.H. Group Business Partners Shareholding Association
The Kambayashi Scholarship Foundation
Aeon Co., Ltd.
Nippon Access Inc.
KOKUBU GROUP CORP.
Kowa Company, Ltd.
The Joyo Bank, Ltd.

13

6,472
5,994
8,909

17,083

48,378Mitsubishi Shokuhin Co., Ltd.

Kasumi

9,719

16,856

Investments and other assets

386 million yen(68.2% year-on-year)

Maruetsu

14,904

Intangible assets

Operating gross profit
Selling, general and administrative
expenses
Operating income

Current liabilities

Operating revenue

12,155586
266
12,474—
2,754

137,997

Total current liabilities

Operating revenue

19,124509
200
19,43317
4,547

133,470

Operating revenue

Liabilities

Fiscal year ended February 28, 2022 (non-consolidated)

204,118

Property, plant and equipment

Total assets

Overview of financial closing by operating company on a non-consolidated basis

202,913Gross profit

78,645

Non-current assets

2022/2

701,159
500,134
201,025
15,248216,273

86,384

Total current assets

2021/2

718,904
511,811207,093
14,945222,038

Net sales
Cost of sales

Assets(Millions of yen)

Share Ownership by Shareholder Type
Number ofshares held
(thousand shares)

Percentage ofshares held(%)

67,159
5,307
2,785
2,300
1,629
1,511
1,099
1,086
1,010
1,000

52.34
4.13
2.17
1.79
1.27
1.17
0.85
0.84
0.78
0.77

Note: Percentages of shares held are calculated excluding 3,374,107 shares of treasury stock.

Foreigncorporations
etc.

Securities firms

Financial
institutions

Treasury stock

Individuals
and other

Other Japanese
corporations

0.41%

3.78%
7.34%

22.45%

2.56%

63.46%

14

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Stock Exchange Code: 3222

1 Kanda Aioi-cho, Chiyoda-ku, Tokyo 101-0029, Japan
TEL: +81-3-3526-4761 URL: https://www.usmh.co.jp/

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