INCLUSION

Finance

Inclusion Championed by MARUI GROUP

01

Promotion of Financial Inclusion
for the Benefit of All Customers

Financial Services Matched to the Lifestyles
of Each Customer

MARUI GROUP’s vision for financial inclusion is to provide financial services that can enrich the lives of younger generations and everyone else. This vision shares the same perspective as a core concept of the United Nations Sustainable
Development Goals—the idea that no one will be left behind.

Services for Younger Generations and Everyone ElseIn the past, financial services have primarily been for thewealthy. The concept of FinTech seeks to break away fromthis tradition by providing financial services that can beused by everyone, regardless of their income or age.
MARUI GROUP sees its mission as being to promote
financial inclusion by supplying financial services to everyone. Accordingly, we strive to provide financial services

that enrich the lifestyles of everyone, particularly the
youths and young adults for whom existing financial services lie out of reach. In October 2017, we broadened thescope of individuals we seek to include to encompass
non-Japanese individuals and foreign exchange students
residing in Japan. We are thus expanding the range ofservices we offer in order to provide such individuals witheasy access to a wide variety of financial services.
Transactions in the FinTech Business¥1,723.3 billion

Wealthy

EPOS
cardholders

As of September
2017
Youths¥354.9 billion

07

FY2007

Services Provided Based on Industry Standards
Judging of credit card applications and setting of credit
limits are conducted based on a customer’s age,profession, and income.

09

FY200911FY201113FY201315FY201517FY2017■ Card shopping transactions outside of Marui stores■ Card shopping transactions at Marui stores■ Cash advance transactions ■ Services, IT, etc.

New Connections with Customers Formed
through AnimeMARUI GROUP sets initial credit
limits lower than other companies
in order to make EPOS cards
easier to use for university students and minors without credit
card experience. As a result, manycustomers receive their first credit
card from MARUI GROUP, and wehave been able to build and maintain relationships withcustomers over the long term. As a result, for approximately 30%*1 of our cardholder base, the EPOS card wastheir first ever credit card. In addition, we encourage
cardholders to upgrade to Gold cards, which feature noannual fees, based on their usage frequency and purchase amounts. Approximately 25% of cardholders
currently carry Gold or Platinum cards.

In the fiscal year ended March 31, 2017, the ratio of new
EPOS cards issued to people age 39 and below was
52%. This ratio was 84% with regard to anime-inspired
collaboration cards, illustrating how these cards are
helping us form new connections with customers inyounger generations. The newly launched GODZILLAEPOS CARD helped the number of anime-inspired cards
issued reach 7,000 in October 2017, representing 13%
of all cards issued in this month.

GOOD
THRU
有効期限

MONTH / YEAR

People Aged 15–39 in Japan

Non-Japanese People Living in Japan
Increase of 20% since December 31, 2012,
primarily comprising foreign exchange students

33.8 million

2.4 million

Source: Population Estimates, Statistics Bureau,
Ministry of Internal Affairs and Communications

Source: FY2016 Statistics on Non-Japanese
People Living in Japan, Immigration Bureau ofJapan, Ministry of Justice

1.45%
Fiscal year ended March 31, 2017

■ Age 39 and below 

52%■ Age 40 and above 48%■ Age 39 and below 26%■ Age 40 and above 74%

Industry*2*2 Source: Consumer Credit Statistics from Japan (2016), Japan Consumer
Credit Association

18

GODZILLA EPOS CARD©HIDEAKI SORACHI/SHUEISHA,TV TOKYO, DENTSU, BNP, ANIPLEX

TM&©TOHO CO., LTD.

Message from an Employee

Cardholders by Age

Ratio of Delinquent Debt for
EPOS Cards
Lowest rate in the industry achieved throughunique credit philosophy

Gintama EPOS CARD

*1 Source: Epos Card Co., Ltd.

EPOS Card

Younger generations increasingly focusing
more on the future over the present

MARUI GROUP’s Credit Philosophy
Rather than being based on a customer’s age, profession,or income, credit should be shaped through a customer’s
usage and payment records.

Cardholder Base Comprising Primarily People
Aged 18–39

4897

6.5 million

Provision of financial services toyounger generations andall other customers

MARUI GROUP has always operated under the belief that creditability should be built together with customers. As opposed
to being assigned credit based on a customer’s age, profession, or income, we feel that credit must be shaped through acustomer’s usage and payment records. The credit standards MARUI GROUP uses in judging credit card applications andsetting credit limits are based on this credit philosophy, which we have cherished since the Company’s founding.

MARUI GROUP started a collaborative campaign with Toho Co., Ltd., tocommemorate the release of Godzilla:
Planet of the Monsters, which
included the opening of the world’s
first official GODZILLA shop. In
addition, the newly launched
GODZILLA EPOS CARD proved
Sho Yoshioka
Anime Business Department
immensely popular, with more than
4,000 cards issued in the first month MARUI GROUP CO., LTD.
after its launch. I look forward toplanning more campaigns that excite
customers.
19

INCLUSION

Finance

Inclusion Championed by MARUI GROUP

02

03

Realization of a Japan that is Welcoming
to Non-Japanese Residents

Concern for Money and the Future
Among Younger Generations

Recent surveys indicate that there are around 2.4 million non-Japanese individuals living in Japan. A new record has
been set for this number in each of the previous four years amid a recent rise in people immigrating to Japan from
Vietnam, Nepal, and other emerging countries in Asia. However, such individuals can often face difficulty acquiring thenecessary living essentials, for example, renting housing or applying for a mobile phone or credit card.

Of the approximately ¥1,700 trillion worth of private financial assets in the country, only 6.6% are held by households
headed by people in their 30s or below.*1 Moreover, a survey has indicated that around 60% of people aged 18–39
are more focused on the future than on the present in terms of finances.*2 This situation is seen as a social issue.

Issues Faced by Non-Japanese Residents of Japan
Non-Japanese individuals face difficulty in areas of normallife including renting housing, working, borrowing money,
and utilizing payment services.

Issuance of Japan’s First Credit Card Exclusively
Available to Non-Japanese Residents
MARUI GROUP hasembarked on a collaborative
venture with Global Trust
Networks Co., Ltd. (GTN),
which specializes in providing comprehensive lifestylesupport for non-Japanese residents of Japan. GTN works
with the goal of hearing “I am happy to be here, Japan!”from all non-Japanese residents. This goal coincides withMARUI GROUP’s own goal of realizing financial inclusion.
Together with GTN, we have launched the GTN EPOS CARD,
which offers services combining GTN’s database of nonJapanese people with MARUI GROUP’s credit card businessplatform. Holders of this card are supported by operatingprocedures that are tailored to the needs of non-Japaneseindividuals spanning from card application to credit services and inquiry response. Accordingly, this credit card isan ideal tool to help non-Japanese residents acquire the

MARUI GROUP’s Response
MARUI GROUP issued a credit card to support nonJapanese individuals in borrowing money and utilizing
payment services as needed.

funds and use the payment services needed for school,
work, permanent residence, or other life patterns. As wesupport non-Japanese residents, we aim to issue 10,000
GTN EPOS CARDs over the first year after the card’s
October 2017 launch and a total of 70,000 cards in the
card’s first five years.
Number of Non-Japanese Residents of Japan
2,030,000

Dec. 31,2012

2,070,000

Dec. 31,2013

2,120,000

Dec. 31,2014

2,230,000

Dec. 31,2015

2,380,000

Dec. 31,2016■ Non-Japanese residents ■ Foreign exchange students
Source: Statistics on Non-Japanese People Living in Japan, Immigration Bureau
of Japan, Ministry of Justice*1 Source: Presentation on Inheritance Tax and Donation Tax, Ministry of Finance, October 2015
*2 Source: Public Opinion Survey Concerning People’s Lifestyles, Cabinet Office, June 2017

Social Issues Among Younger Generations
Vague concerns regarding money and the future arecausing people in younger generations to give up on
self-actualization.

Support Offered by MARUI GROUPMARUI GROUP offers support for accumulating assets
through financial services that allow people to learn about
and increase money.

Faltering Younger Generations
MARUI GROUP conducted a survey regarding money ofapproximately 2,000 people, ranging from those in theirteens to those in their 70s, to see how concerns for the
future are manifesting in younger generations. Thissurvey found that concerns regarding money are shared
among all generations, with more than 90% of respondents admitting to such concerns. Among younger individuals aged 18–39, many indicated having vague
concerns or being in a tight financial situation. These
concerns were linked to insufficient knowledge regarding
asset building, as indicated by around two-thirds ofsurvey participants reporting a lack of understanding ofinvestment (money).

91%
Responses from people aged 18–39■ Has vague concerns 

37%(22 pts. higher than people over age 65)

Message from a Business Partner

Union of MARUI GROUP’s Strengths and GTN’s Insight to Create New Contact Points
MARUI GROUP is earnest in its attempts to address the social issues of non-Japanese individuals
facing difficulty receiving credit cards in Japan. When I first met with President Aoi and other
MARUI GROUP representatives, I was quite impressed with their strong commitment to financial
inclusion, which I felt was in the same vein as our desire to provide credit cards to non-Japanesepeople. MARUI GROUP also offers services that are highly convenient through its expertise inproviding credit cards to younger generations, the real-life contact points it provides in the form of
Marui stores located throughout Japan, and the more than 10,000 facilities affiliated with its EPOS
cards. I am convinced that our alliance with MARUI GROUP will help us provide better service toour primary customers, non-Japanese residents of Japan and young foreign exchange students,
and thereby realize our goal of hearing these individuals say “I am happy to be here, Japan!”20■ Has less than ¥100,000 in bank account 48%(25 pts. higher than people over age 65)■ Currently in a tight financial situation 

33%(19 pts. lower than people over age 65)■ Lacks understanding of investment (money)  67%(26 pts. higher than people over age 65)

Hiroyuki Goto
President
Global Trust Networks Co., Ltd.

Although over 60% of younger generation respondents
stated having aspirations for the future, nearly 70% had
at one point given up on pursuing higher education or
studying abroad due to a lack of money.

■ Has aspirations for the future 61%■H as given up on aspirations
due to a lack of money 

65%

Source: EPOS cardholder survey of 1,000 people aged 18–79, October 2017

Support for Younger Generations

Has concerns regarding money■ All ages Younger Generations Giving Up On
Self-Actualization Due to Concern for the Future

The majority of EPOS cardholders are aged 18–39. We
therefore strive to support younger individuals interested
in investment in accumulating assets by providing financial services that allow such individuals to learn about
and increase financial assets alongside traditional payment services. By offering asset building services basedon accurate financial knowledge, we aim to help resolve
the social issue created by a concern for the futureamong younger generations while boosting earnings.
■W ould be interested in investment
if support was available 

68%

Source: Survey of 2,000 people aged 18–79 conducted by Macromill, Inc.,
September 2017

Source: Survey of 2,000 people aged 18–79 conducted by Macromill, Inc.,
September 201721

Dialogue 02

Aya Maeno
Representative Director, Cras Inc.
Representative, FP Office will
Previous job: School nurse
Current job: Financial planner

Satoko Abeshima

Hiroyuki Nagata

Yoshimi Takahara

Kenta Murayama

Previous jobs: Merchandise Planning Section,
Specialty Store Business Promotion
Department, MARUI CO., LTD.
Institute of Future Research,
MARUI GROUP CO., LTD.
Current job: W omen’s Shoes Section, Omni-Channel
Retailing Department, MARUI CO., LTD.

Previous jobs: Store Support, Marui Family Shiki,
MARUI CO., LTD.
Field and Men’s Bags, Kichijoji Marui,
MARUI CO., LTD.
Current job: Card Application Center,
Kawasaki Marui, Epos Card Co., Ltd.

Previous jobs: STUDIO1, Shinjuku Marui Main
Building, MARUI CO., LTD.
EPOS Cardholder Recruitment, Marui
City Yokohama, Epos Card Co., Ltd.
Current job: Business Promotion Division 2, Business
Promotion Department, Epos Card Co., Ltd.

Previous jobs: Editing Section, Shoes Business
Division, MARUI CO., LTD.
Women’s Shoes, Marui City Yokohama,
MARUI CO., LTD.
Current job: Sales Representative, Marui City
Yokohama, MARUI CO., LTD.

Dialogue 02
A New Form of Financial Security
and Future Potential      
As part of a Groupwide effort to provide new financial services,financial planner Aya Maeno was invited as a lecturer for a series of six financial seminars about
people’s relationship with money, with the first taking place in September 2017. Group employees applied toparticipate in these seminars on their own initiative, with each session being attended by 14 Group employees,
who were separated into teams of seven. Employees were encouraged to leave titles, experience, and age at thedoor to foster a relaxed environment in which participants would be able to engage fully with finance, share theirown concerns about money, and learn. In the following pages, we have compiled a dialogue between
four employees that participated in these seminars and instructor Maeno.

22

Decision to Participate in Financial Seminars    
Aya: Please tell us your reasons for participating in thefinancial seminars, specifically, what inspired you to join.
Also, for this discussion I would like to maintain the same
relaxed environment as in the seminars.
Hiroyuki: Hello, my name is Hiroyuki, and I will be representing the “in their 50s” crowd. The laidback atmosphere of the seminars was refreshing. I was previously
positioned in the Group’s credit card company, after
which I gained experience on the sales floor at Maruistores. Today, I sell insurance products at an EPOS card
application center. I want to be able to recommend products that I truly endorse to customers. I therefore choseto participate in the financial seminars with the aim ofstudying finance from square one.
Kenta: The majority of my 25 years of work experience
have been spent on the Marui sales floor. Recently, I havecome to feel that I could better bring joy to customers if
I were able to offer them a little advice regarding moneyor lifestyles. When I was a kid, nobody taught me aboutmoney, and I would get strange looks from adults if
I spoke of it. Regardless, money is an incredibly important part of living in society. I decided to take part in theseminar because I wanted to learn about money as soon
as possible to prepare for having kids or other changes
that could occur over the course of my life.
Satoko: MARUI GROUP is promoting the concept offinancial inclusion. This idea really resonates with me.

I hope one day to be involved in finance, and this is what
inspired me to participate in the seminar. I am currently
engaged in developing private brand shoe products. At
the moment, we are expanding the range of sizes of ourshoes and otherwise working to make our shoes available to everyone. However, in this quest it becomes easy
to overthink things. I started studying financial planningwith the aim of broadening my perspective, but I could
not see it as relating to me, which kind of left me feelingunsatisfied. Hearing Aya’s lecture on the idea of thinking
backward from one’s goals in life really opened my eyes.
I now want to tell those around me about how I foundhappiness through the seminar and to help them build
a better future for themselves.
Yoshimi: At Epos Card, I am responsible for outside
partner facilities. I have thus taken part in deploying
EPOS cards at non-Marui commercial facilities in Tokyo
as well as in locations from Hokkaido to Kagoshima.
I have always had an interest in finance. This interest
grew deeper after I read a book entitled The 100-Year
Life. When I plotted my own 100-year life plan, I realizedthat I would run out of money if I did not change how
I live. In addition, the seminars coincided with my getting
married. I decided to participate so that I could thoroughly examine how much money would be needed now
that I am not alone. I had previously thought that I was
the only one who lacked knowledge about money.
However, I now know that the things that give me concern or that I do not understand with regard to the life23

Dialogue 02

stages I will undergo in the future are likely to be thesame for other people. If I study and get involved withfinance myself, I should be able to explain these matters
to our customers.
Aya: When you experience something yourself, you
exhibit a new passion when explaining it to others. It
makes it easier to explain your passion to others when
you make new and edifying discoveries or realize something you did not understand before.

a wider range of information. I think the type of financial
information MARUI GROUP staff will offer customers will
not be difficult to understand, but will rather unlock new
possibilities for them.

Joy Brought About by Financial Inclusion

Money Across All Areas of One’s Lifeand for Shaping the Future    
Aya: In the past, money could only be viewed in terms ofspecific applications; you buy insurance from insurancecompanies, deposit money in banks, invest throughsecurities firms, and purchase homes through real estatecompanies. There were no means of looking at money
across all areas of one’s life. People at MARUI GROUP,
however, possess such a means in the form of theirconnections with customers. Moreover, they are able toengage with these customers in a face-to-face manner.
This vantage point allows people at MARUI GROUP tomove beyond simply talking about money in terms ofhousehold finance or investment and act as partners that
help give form to the concept of money as it pertains to
one’s lifestyle or life.
Satoko: I think the idea of viewing money in terms of allareas of one’s life is very important. After participatingin this seminar, I started discussing the future with myfamily. This may be a bit of an exaggeration, but I havecome to think that talking about money can help people
shape their future. Realizing this has given me a newsense of contentment.
Aya: I am also fond of the idea of money being used for“shaping.” When I first spoke with President Aoi, I remember being moved by his talk of how MARUI GROUP sees
all of its business assets as being borrowed from society.
People may mistreat the things they see as belonging tothem, but they will be more careful in their treatment of
the things they borrow, striving to return them in a better
condition than when borrowed. I believe that increasing
the number of people who think about their lives andmoney is tantamount to returning borrowed assets tosociety after shaping a better future for them.
Hiroyuki: Customers come to Marui stores because they
hope to find something good there. In the past, this was
furniture and fashion. Today, we have grown to offer

24

financial services and peace of mind. There are a lot of
older customers who still associate Marui stores withyounger generations or with clothes. I think all we needto do is to tell them what Marui is offering now, which I’msure will change how they view our stores.
Aya: It would seem that, no matter how the products
MARUI GROUP handles may change, the desire of
employees to help customers and contribute to theirhappiness, which lies at the core of the Company’s activities, will remain unchanged. As Marui stores are open atnight and on weekends, customers can go whenever theyplease without feeling as though that time is “lost.” This
fact makes visiting Marui stores a positive experience.
Another strength of MARUI GROUP is that it can informcustomers, even those that are not currently concernedwith money, about the seminars it offers or the systems
it will introduce.
Kenta: What will change going forward is the products
we offer, not the desire to help our customers that has
always driven us. I look forward to increasing the range
of opportunities for customers to discuss money withease going forward. To those of us at MARUI GROUP, theability to issue credit cards on-the-spot in stores seems
completely normal, but it is actually something that isquite impressive. It would be even more impressive if ournext step found us supporting the lifestyles of customers.
Yoshimi: EPOS cards are not only issued at MARUI GROUP
stores; we also have application centers in other commercial facilities located throughout Japan. The scope of
our EPOS card operations will continue to grow in the
future. If employees have a better grasp of financial
concepts, they will be able to provide customers with    
Satoko: Most people have concerns regarding money,
even if these concerns are vague. These concerns linger
in the back of their minds, but they are often unable totake the initiative to resolve them. If we could provide aneasy opportunity for them to address these concerns in
an atmosphere of trust, it would contribute to co-creationand to a greater sense of happiness.
Kenta: By learning about finance, I came to understandhow money should be invested and saved and how tolive a happier life. I really think that money is integral to
our lives. Questions about money differ from, for example, questions about clothing, which one can now answer
for themselves simply by using the Internet. When it
comes to money, many people, myself included, are notvery knowledgeable. I am therefore confident that customers will take an interest in these topics.
Aya: The focus should not be the financial products
themselves, but the mission these products are meant tofulfill. This approach will better contribute to customer
happiness and to forming bonds.
Yoshimi: Such an approach would no doubt help us
resolve customer issues. In fact, it would enable us toassist customers in a very direct manner.

Hiroyuki: I have long thought that good customer service
was a form of added value. If we could go even further
and provide services with even greater value, it would besomething truly impressive. Such services would makeour work more enjoyable by providing more opportunities to offer customers the type of advice that will truly
help them and that they will fully appreciate. I want tobegin giving customers financial advice as soon as possible so that I can help them live content lives.
Aya: One day, customers may come to speak enthusiastically of all they learned when visiting a Marui store on
topics including credit cards, retailing, products, household finances, and investment. This excitement itself will
be a form of financial inclusion. After helping a customer
revise their insurance policy, for example, MARUI GROUP
employees could go a step further to suggest that they
invest the extra income the revision freed up for use after
retirement or utilize this income to go on a family trip.
Such proposals would make customers more proactive
toward money. Wouldn’t that be exciting? Moreover, suchproposals would build trust with customers while bringing the employees making the proposals more joy in theirwork. No matter how much specialized knowledge afinancial planner may possess, they still have to wait forcustomers to come to them. Marui stores, meanwhile,
have always been a viable way to connect with customers in their real lives. This means that you can offer consultation to customers in a place that they are very
familiar with. As a financial planner, I believe this ability
is an amazing asset that is unique to MARUI GROUP.

Aya Maeno
Representative Director, Cras Inc.
Representative, FP Office will

Previously a junior high school and high school nurse, Aya Maeno later got
married, left this career, and bought a home. She became a financial planner
after her spouse’s insurance provider went bankrupt, and has obtained
CERTIFIED FINANCIAL PLANNER® status and is a 1st-grade Certified Skilled
Professional of Financial Planning accredited by the Japan Association for
Financial Planners. Ms. Maeno specializes in providing working women andfamilies raising children with a sense of financial security and an understandingof the potential of money by offering invaluable advice. Each year, she holds morethan 120 seminars and consults with over 300 people on an individual basis.
Moreover, Ms. Maeno has penned numerous works, including the textbook usedin MARUI GROUP’s financial seminars, which is aimed at people committed toreforming their household finances. More recently, she has been overseeing thesection of Epos Card’s insurance site that features comics explaining insurance.
www.fp-will.jp/ (Japanese only)25