NISSO HD's operating profit increased by 75.4% year-on-year andachieved the highest 1Q profit since our listing.
In addition to a rise in unit-costs, the operations of high-profit business
partners recovered.

Representative Director, President & CEO Ryuichi Shimizu

Mr. Ryuichi Shimizu (hereinafter, “Shimizu”): This is Ryuichi Shimizu, Representative Director,
President and CEO. I would like to express my sincere gratitude to all of you who are watching.
I would now like to start with the financial results briefing for the first quarter of FY 3/2025.
The slide shows the contents of today’s materials.

12Here is a summary of our first quarter results.

3This slide shows the highlights of our first quarter consolidated financial results. As you can see,
operating profit was up 75.4% year-on-year. This means we posted the highest first quarter
profit ever since we went public, including the period when we were listed under the nameNISSO CORPORATION.
One of the reasons for our achieving the record-high profit is an increase in unit-costs forbusiness partners. Our net sales increased by 6.4% due to an increase in the number ofenrolled staff in the focus industries.
In particular, the significant improvement in our operating status in the Semiconductor Industry(semiconductor and semiconductor manufacturing equipment-related) area contributed to anincrease in revenues from the Engineering Human Resources Services.
In addition, since SG&A expenses, especially employee recruitment expenses, have beeneffectively under control, the SG&A expense ratio decreased by 0.1 percentage points year-onyear.
As for the Nursing Care・Welfare Services, revenue increased with profits being slightly down
year-on-year.

4As shown in the graph on the slide, operating profit increased significantly in the first quarter,up 75.4% from the same period last year. Going forward, however, we expect operating profit
to be affected by our plan to make aggressive upfront investments.

5

6

This is a list of group companies. In the first quarter of this fiscal year, TSUNAGU GROUPHOLDINGS (hereinafter, the "TSUNAGU GROUP") joined our group as an equity-method
affiliate.

7

Next, is our net sales by service. Compared to the previous fiscal year, the share of Engineering
Human Resources Services increased by 1%, while the share of Manufacturing・Production
Human Resources Services decreased by 1%.

8

9

As for the Manufacturing・Production Human Resources Services, the number of enrolled staff
increased by 156, and combined with the increase in the billing unit-costs, net sales increased
by 4.5% year-on-year.
With the gradual return of semiconductor and electronics-related operations, theManufacturing・Production Human Resources Services gross profit margin improved by 0.9
percentage points year-on-year.

10As a result, net sales per capita increased by 9,000 yen, or 2.2 % year-on-year. The number ofenrolled staff increased by 156. The turnover rate was 3.8%, up 0.1 percentage points yearon-year, but remained below 4%.

11

Now, let me explain our Engineering Human Resources Services. In addition to an increase of
215 in the number of enrolled staff, the recovery of operations, particularly in the
Semiconductor Industry area, had a significant positive impact, resulting in a 20.2% increase in
net sales.
As a result, the gross profit margin improved by 4.9 percentage points year-on-year to 22.4%.
Compared to Manufacturing・Production Human Resources Services, the gross profit margin
was 5.2 percentage points higher, which is why we believe this is a highly profitable business.

12

The Engineering Human Resources Services also saw a positive impact from factors such asincreased operating conditions and unit-costs, with the net sales per capita up 52,000 yen, or
10.6%, year-on-year.
The number of enrolled engineers increased by 215. The turnover rate improved by 0.8
percentage points to 1.5%. We appreciate that we were able to achieve very good results.

13

Now, I would like to discuss our Administrative・Other Human Resources Services. Although
the number of enrolled administrative staff remained almost flat, operations were quitefavorable with net sales up 29 million yen, or 5.3%, year-on-year.
As for Other Human Resources Services, the number of Nikon Nisso Prime Corporation's Prime
employees increased by 24 to 721 from the end of the previous fiscal year. The number of
employees with disabilities was 252, which was an increase of 25 from the end of the previous
fiscal year.

14

15

This slide shows our Industry Strategy.

16

These are our forecasts of the operating status and personnel trends for each industry.

17

This chart shows year-on-year changes in net sales by industry. In particular, the Automotive
Industry (automobiles and EV-related) is in a good situation, with a 7.5% increase year-onyear, despite various impacts on operations, such as quality inspection issues.
In the Electronics Industry (communications equipment and electronic components), net sales
increased by 16.4%.
In addition to the fact that the operating status was much closer to normal compared to theprevious fiscal year, the most important point is that while our operations have been slow to
grow, there has been a significant growth in new orders from new clients during the past year.
We see that this growth led to a 16.4% increase.

18

19

Next, I would like to talk about our Nursing Care・Welfare Services. One topic is our conclusionof an agreement with Yokohama National University, a national university corporation, for a
joint research project on environmental adaptation of residents in facilities for the elderly.
We have started this project to gather information necessary to promote better nursing care in
the future by providing four of our facilities as demonstration fields for the research.

20

This slide shows the situation in the Nursing Care・Welfare Services, which saw increased
revenue and decreased profits. This was mainly due to an increase in personnel and otherexpenses. The increase in personnel expenses due to the replacement of nursing care staff had
a negative effect.

21

22

These are our training bases. In May of this year, we expanded the floor space of the Nisso
Technical Center Kumamoto, making it a facility with three times the training capacity of theoriginal facility.

23This slide shows the educational achievements of the Nisso Group. The highlight is the engineer
training described on the slide. In the previous fiscal year, the number of participants waslimited due to inventory adjustments and other factors in the Semiconductor Industry.
You can see that we have been training engineers very actively, with the number of engineers
trained in the first quarter of this fiscal year alone at 534 compared to the number of engineers
trained during the previous fiscal year at 1,370.
The third item on the slide mentions that we are expanding our external employee training
functions. This is a new service called the "NISSO HR Development Service" which provides
employee training on behalf of our clients. We believe that the development of this service
confirms that the level of our education is also recognized by our clients.

24

25

This table shows the growth cycle from "flexible M&A" to "strengthening of recruitment
structures." The center column of the table shows the results for the previous fiscal year, andthe column on the right shows the results for the first quarter of FY 3/2025. We are in asituation where such a cycle for growth is being realized.

26

27

Here are topics for the first quarter. The TSUNAGU GROUP became an equity-method affiliate
through a capital and business alliance. We will share the client bases of both companies andestablish a collaborative sales structure. There is an affinity between our human resources
services and the services of both companies, such as recruitment consulting and BPO-related
recruitment of the TSUNAGU GROUP.
We will work together to bring out the strengths of both companies, and make our clients evenmore satisfied with our services, as well as improving the efficiency of our recruitment methods.
In addition, in this era of labor shortages, we will work closely with the TSUNAGU GROUP to
maximize the value of each company in a system that supports the active participation offoreign nationals in the global area.

28

The left side of the slide shows the completion and inauguration ceremony of the Nisso
Technical Center Kumamoto Building 2 in May. The right side of the slide shows the conclusionof agreements and letters of intent with two educational institutions in Vietnam.
Students/graduates from Vietnam will come to Japan after four to six months of education andplay an active role here. This is a scheme to develop and assign human resources to positions
in areas where immediate work-ready human resources are needed.

29This slide shows the topics of the Nisso Group on a timeline. Please refer to it later.

30

31

We would like to leave the full-year consolidated forecasts unchanged at this stage, since it isstill the first quarter.

32

33

We are aiming for a consolidated dividend payout ratio of 30% or more of our initially projected
earnings, and we currently plan to pay 22 yen per share.

34

35

This is the consolidated balance sheet. Please refer to it later.

36

37

We have included a glossary since there are some expressions that are unique to our company.
Please refer to it later when you have time.

38

39

FY 3/2026- FY 3/2028

Medium-termManagement Plan
August, 2024

NISSO HOLDINGS Co., Ltd.
TSE Prime Market Code:9332

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

00To a Holdings Structure

We, the the Nisso Group,
established NISSO HOLDINGS Co., Ltd.
in October 2023
to rapidly facilitate swift decision-making and strategic, agile execution of M&A,
create new business opportunities that will become the next core businesses,
establish an appropriate capital policy, and optimize management resources.
We aim to become a company with even greater appeal byestablishing a seamless business management structure for the entire Group andan environment that enables each of the companies to become an operatingcompany with a high level of expertise specialized in each field, andmanaging the development of people, creation of workplaces, and other aspects ofwell-being, based on our recognition that human resources are essential “capital”
who function as the central driving force in our businesses.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

11Agenda１

Review of the Previous Mid-term Plan Period(FY 3/23 ~ FY 3/25)

２

Basic Policy・Social Environment Awareness・
Mission Achievement Story

３

New Medium-term Management Plan
(FY 3/26 ~ FY 3/28)

４Management Targets and Financial Indicators

５

Company Profile

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

2

2

１

Review of the Previous Mid-term Plan Period(FY 3/23 ~ FY 3/25)

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

3

3

Review of the Previous Medium-term Management Plan Period
In the previous Medium-term Management Plan period, we set high plan targets because we anticipated demand for humanresources as we emerged from the COVID-19 pandemic. Despite our efforts, multiple factors hindered our ability to maintain
operations as expected: The rebound in the semiconductor industry was slower than expected, supply chain disruption fromgeopolitical risk also resulted in repeated parts shortages in the automotive industry, and quality control issues occurred.
Despite the severe environment, we invested in educational facilities and equipment, according to plan, to adapt humanresources development to the changing human resources needs resulting from technological innovation. Although we did notachieve the targets in the plan, our clients appreciated the high quality of our service. As a result, the number of contracts
concluded during unit-cost negotiations exceeded the plan and we achieved growth in both net sales and profit.
Net sales vs. plan
(Million yen)

115,000

100,000
96,85890,82788,600Operating profit vs. plan

7,000

106,000
6,000

6,700

(Million yen)

30.0%

2,400

14.0%

4,000

3,800

4,000

3,000
3,000

2,087

2,700
2,268

3,058

1,000

2.7%

3.0%
2.5%

Previous Medium-term

Results andManagement Plan

FY 3/2025 forecast

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

20.0%

1,604
14.9% 15.0%

13.0%

1,000
5.8% 6.0%

4.0%

3.6%

3.2%

25.0%

1,952
1,696

1,500

8.0%

11.4%

13.2%
10.0%

4.0%

500

5.0%

2.0%
0.0%0

-

FY 3/2025

2,000
12.0%

10.0%

2,000

FY 3/2024(Million yen)

2,500

5,000

FY 3/2023

Profit/ROE results and forecast

3,000
18.0%

16.0%

76,000 77,549

FY 3/2022

20.0%

FY 3/2022

FY 3/2023

FY 3/2024

FY 3/2025

Previous Medium-Term

Results and FY 3/2025

Management Plan target
Previous Medium-Term

forecast
Results and FY 3/2025

Management Plan target

forecast

0.0%

FY 3/2022

FY 3/2023

FY 3/2024

Results and FY 3/2025

FY 3/2025
ROE

forecast

4

I would like to provide an overview of our Medium-term Management Plan.
I would like to take a moment to review the current Medium-term Management Plan. We are
not that far behind in terms of sales, despite various negative factors. We believe that thebiggest challenges are operating profit and profitability.
The reasons for this are explained below in three points. First, the current Medium-termManagement Plan was announced in August 2022, in the midst of the COVID-19 pandemic,
and at that time, we had assumed to some extent the impact of the spread of COVID-19 andthe supply chain issue.
Unfortunately, however, although COVID-19 was classified as a Class 5 infectious disease lastyear and a way out was in sight, the operations of the Automotive Industry were sluggish due
to a supply shortage of devices, especially power semiconductors, which are key components.
This is the first major factor.
The second point was the impact of quality assurance issues stemming from inspection
malpractice, which caused our major business partners, body manufacturers, to stop theirprocesses all together or to be unable to manufacture and ship part of their vehicles.
The third point is related to the areas of the Semiconductor Industry and Electronics Industry.
The issues those industries are facing are complicated due to a variety of factors, but the mostimportant one for us is the export restrictions to China, which caused a significant delay in therecovery of production.
As a result, we were unable to increase the number of equipment engineers and staff
specializing in equipment maintenance, which we would normally have to continue increasing
every year, and this is a factor that has put significant pressure on earnings in the current fiscal
year.

4

Review of the Previous Medium-term Management Plan Period

Infrastructure
Strengthening Strategy

Business Strategy

Management Strategy

Initiative Results* See the Appendix on P. 50 for more information.

Business portfolio strategy● Advanced the industry strategy● Added EYE‘S Co., Ltd. as a consolidated Group subsidiary● Alliances with different industries:
Doctors, Interstellar Technologies, APB

Provision of services in
response to changing
MONOZUKURI(manufacturing)● Expanded training facilities (Kumamoto, Kansai)● Pursued industry-government-academia collaboration(in five regions nationwide)● Exhibited at Manufacturing World Japan

Practice of human capitalmanagement
Response to humanresources mobility● Reformed personnel system● Enhanced educational facilities and programs(for engineers and nurses)● Promoted changing careers to be an engineer

Realization of business
transformation by digitizing
business operations● “Cloud Staffing” dispatch contract management● “Start engineer” e-learning to train new personnel● Use of IT in recruitment operations

Strengthening of governance● Switched to a pure holding company structure● Established an Audit & Supervisory Committee

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

5

5

2

Basic Policy・Social Environment Awareness・
Mission Achievement Story

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

66Basic Policy

Founding Philosophy

Nurturing and Bringing Out the Best in People
We, the Nisso Group
with Human Resources Solution Services that support the growth of companies and people
MISSION

We will fulfill our Mission ofCreating opportunities and hopes for people to work
VISIONTo transform into a corporate group with high-growth potential

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

7

I would like to talk about our basic policy, in particular, about our mission "Creating opportunityand hopes for people to work" mentioned in the center of the slide.
Without the ability to secure human resources, the future of human resources companies will
become more and more challenging for growth. In this regard, the happiness, dreams, andhopes of the people who work with us are extremely important. We have recently been using
the term "well-being," and we would like to make sure that we are addressing these aspects ofwell-being. We recognize that it is very important to become a company that is chosen andsupported by the people who work with us.

7Social Environment Awareness: Industry Trends
Society 5.0 People × Cutting-edge technology

IoT

AI

Big
data

5G

Advances in digital technology will enable people to live more convenient livesPeople will be able to access information instantaneously through smartphones, tablets, and otherdevices, and it will be possible to use online services anywhere in the world, making remote
operation possible.
Automation technology and AI will improve the efficiency of work and processes, reducing the timeand labor required.

Industry 5.0 People × Machinery

Sustainable
Decarbonize (achieve carbon neutrality) andadopt a circular (recycling-oriented)
approach to resources and energy or use
digital to create an ecosystem

People-centered
Maximize profit through collaboration
between people and robots

Rebound ability
Introduce methods of using digitaltechnology and acquire the management
capability to overcome crisis conditions

Realize more sustainable, humane industries through maximal use of human intelligence and creativity and coordinated work of people and technology.
Re-evaluate the role of people, and emphasize situations where people can assume responsibility for important decisions and creative activities.
This will make more sustainable, efficient production methods and business models possible.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

8

Next, I would like to talk about industry trends. Currently, Society 5.0 and Industry 5.0 are
being promoted in Japan, and these two are creating big waves in the industry.
Although people are the main focus, a very important point is that the skills required of people
are changing dramatically in an operating environment where, for example, productivity can begreatly increased while utilizing new technologies, or sharing roles with robots when doing work.
We recognize this as a very important factor for our further growth.

8

Social Environment Awareness: Labor Market Trends
We anticipate expansion of the gap between supply and demand and a labor
shortage despite implementing corrective measures

Drastic Change in Labor Supply-Demand in Japan by 2035
Change in labor supply-demand balance from 2020 to 2035: MRI trial calculation
Active employmentof women andseniors

Semiconductor
industry recovery

0.2 million

Labor force
participation rate

2.5 million
2035
Gap in labordemand-supply
Shortage ofSeniors leaving
workforce

Decline of

22.8 million
Number of
employed people
in 202066.8 million

1.9

New entrants

17.8 million

million

Maintaining
economic activities

Economic security

2.7 million
Impact of Greentransformation (GX)on employment

Jobs
generated

Number of
employed people
in 2020

4.7 million
Impact of digitaltransformation(DX), including
generative AI, on
employment

Including nonJapanese humanresources

Labor supply

2.0 million

Decline ofproductivity
0.3 million inImprovement
Decline of
9.7 million

66.8 million

Labor demand
Note: Numbers for each category in millions of workers, rounded to the nearest 100,000

Mismatch in Human Resources is the Real Issue
Mismatch by industry and occupation in 2035: MRI trial calculation

Source: PERSOL RESEARCH AND CONSULTING Co., Ltd.
“Trinity labor market reforms” in the government’s Basic Policy
on Economic and Fiscal Management and Reform 2023
 Support for skill improvement through upskilling andreskilling Introduction of job-based pay on the reality of individualcompanies
 Facilitate labor transfer into growth areas

Carrying, cleaning& packaging
Construction

Carrying, cleaning& packaging

0.3 million
Transportation 0.7 million
Production 0.3 million
Service 0.7 million
Sales 0.9 million
Administrative 1.8 million

Total

4.8 million

1.0 million
0.4 million
0.3 million
0.5 million
0.4 million
1.0 million
Service
0.4 million
Sales
0.6 million
Administrative
Technical specialist 1.7 million
Management
0.3 million
Transportation2035
Gap in labordemand-supply
Shortage of

Production

Agriculture

1.9 million

Surplus

Mismatch

Shortage

Total

6.7 million

Source: Mitsubishi Research InstituteMobility of the labor market will
accelerate even more

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

9

I would like to talk about very important labor market trends. The term "labor shortage" hasbecome a hot topic in the media almost every day.
The problem is not just a shortage of headcounts. Rather, as I mentioned earlier, the biggest
problem is the lack of a good match between people with the relevant skills and fields in which
they can play an active role in the new era of human resources development.
In addition, there is a gap between labor supply and demand caused by the shrinking
workforce and the declining birthrate and aging population. The figures shown on the slide are
estimates by Mitsubishi Research Institute, and they indicate that there will be a shortage of
1.9 million workers in 2035. However, according to the think tank, this scenario is based on theassumption that women, seniors, and foreign nationals will participate in the workforce to someextentTherefore, if things go wrong there, this supply-demand gap could widen further. In particular,
the Nisso Group, which provides human resources services to our clients, must be very
conscious of this point and take action accordingly to address it.

9Story of Mission Achievement
Socialenvironment

Labor
shortageSocial issues

IssuesSociety 5.0

Mismatch

Creation of acomfortable workplace

Industry 5.0

Evolution of AI

Regional
declineWidening
disparities

Strengthening ofgovernanceDeclining birthrate andaging population

Changing naturalenvironment

Responding to social changes andchanges in industrial structures

Investors
Financial
institutions

Shareholders

Creating new value

Initiatives

through

Clients

Educational
institutions

with

Business
partners

Government

co-creation
All stakeholders

Investees

Provide high value-added services

to be a company thatclients choose

Employees& theirfamilies

Strengthen management structure
・ internal controls

Local
communities

Digitalization

×

Investment
in human
Maximize employee satisfaction
and client/customer satisfaction

Enhancement of corporate (enterprise) value (EV) through creation ofsocial value (CSV) to be a company that clients choose

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

10

Here is our story of mission achievement, with some overlaps with the previous section. Our
Group is committed to solving various social issues and creating a cycle that enhances our
corporate value through the creation of social value.

10

３

New Medium-term Management Plan
(FY 3/26 ~ FY 3/28)

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

11

I would like to explain the reason behind the timing of the formulation of our new Medium-termManagement Plan, which will begin in the next fiscal year. We are well aware that the
improvement in earnings has lagged significantly behind in the current Medium-termManagement Plan.
However, even during these difficult times, we have been able to anticipate and thoroughly
delve into the needs of our clients. And since we have been able to identify some of thecountermeasures we can take, we are now well on our way to meeting them.
In particular, as you are all aware, new semiconductor and battery factories are scheduled tostart up and begin operations in 2026 and 2027 in various parts of Japan. We see this as an
excellent opportunity for us.
What we must especially focus on in the current and next fiscal years is to firmly seize the big
opportunities in 2026 and 2027 while fully developing human resources who will flourish duringthat period. The main purpose of today's presentation is to explain this point to our investors as
well.

11

New Medium-term Management Plan Policy

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1212Strategy Map
Management Philosophy and Policy
Business portfolio diversification and expansion
Management strategies③-1 Financial Strategy● Expanding the ROIC spread● Appropriate business resource
allocation and shareholder return policy
Delving deeper into existing core areas
Recruitment
strategy

Industry
strategy

Development
strategy③-2 Non-financial strategies● Practice of human capitalmanagement● Environmental and social initiatives● Strengthening governance③-3 Businessstrategies—Co-creation—

Exploring new areas
Creation of new services

General Human Resources Services
Five Services

New Initiatives

Caregiving Services③-4 DX strategy
Building/Strengthening digital infrastructure
Visualizing/Improving sophistication of management
Business reform/Improving efficiency/Automation

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

13

This is our strategy map. I would like to particularly focus on ③-3 Business strategies—Cocreation—.

13

３

-1

Financial Strategy

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14

14

Financial Strategy
NISSO HOLDINGS will closely monitor our own cost of capital (cost of equity and weighted average cost of capital(WACC)) and will strive to pursue earning power and improve capital efficiency by using return on equity (ROE) andreturn on invested capital (ROIC) as key management indicators. In addition, we will strive to enhance corporate value
by realizing a structure in which ROIC exceeds the cost of capital (weighted average cost of capital (WACC)) in a stablemanner.

Sustainable Enhancement ofCorporate Value

Expansion of equity spreads, expansion of ROIC spreads

Pursuit of earning power
Adding of value to existing businesses
Review of business portfolio
Investment in growth areas
Improvement of operational efficiency throughthe use of digital technology
 Investment in human resourcesConfidential/Copyright 2024 NISSO Holdings All rights reserved.

Maintenance of financial discipline andimprovement of capital efficiency
 Appropriate allocation of management resources Appropriate utilization of debt
 Optimal shareholder returns (stable dividends・
share buybacks)
 Timely and appropriate information disclosure

15

15

３

-2 Non-financial Strategies

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16

16

Non-financial Strategies

Practice of Human Capital Management

Personnel system reformDiversity management
Nisso Group

Increase the number ofcareer path assistants

Enhancement ofcareer advancement
systems

Expansion oftraining facilities
Revenue
expansion

Human capital
investment

Human Resources
Development Model

Introduction of
VR/AR education

OJT
Promotion ofcareer changes

Development ofengineers

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

Clients

Cooperation indevelopment

Off-JT
Provision of highvalue-added services

Employees

Visualization ofskillsDevelopment of
nursing care human resources

17

17

Non-financial Strategies“Environmental” and “Social” Initiatives
Sustainability Policy

In order to achieve our mission of "Creating opportunities and hopes for people to work", we, the Nisso Group, aim toachieve sustainable business growth and realize a sustainable society by establishing policies on human rights, labor,
the environment, safety and health, and ethics, and are advancing initiatives to solve social issues through the provisionof Human Resources Solution Services that support the growth of companies and people.

Human Resources
Development Policy

Implementation of Diversity

721

Internal Environment
Improvement Policy

Diversity

Promoting active participation of
employees with disabilities
Number of employees (as of Jun. 30, 2024):

Policy on Human Rights
and Labor

Respect for human rights

Occupational Safety and
Health Policy

Safety and health

Value
Member of the TCFD Consortium, enhancing disclosure of information co-creation

Business Partners

Community andSocietyon climate change

Shareholders
and Investors

Response to climate change

Compliance

Value
provision

252

Response to Climate Change

Environmental Policy

Ethics Policy

Employees

Promoting active participation ofseasoned seniors
Number of employees (as of Jun. 30, 2024):

Human resources
development

Disclosure and practical implementation of reduction targets
Interim reduction target:
30% reduction by 2030, compared FY 03/2021, the base year
Long-term reduction target:
Achieve carbon neutrality by 2050 (net zero emissions)

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

Clients

18

18

Non-financial Strategies Cases of Putting Diversity into Practice—Generating Active Participation of Employees with Disabilities

Be a company thatclients choose
Respond to broader, more sophisticatedclient needs
Generate a pool of human resources who
can actively participate in society at large
Engage in active co-creation
with Group companies
Employees with disabilities growTaking on the challenges of
new occupations and new work

Creating opportunities
for active participation
・ Strategic sales in the IT
area
・ Group collaboration
・ Introduction/Dispatch
business

Increasing motivation

Improving skills/abilities

Human resources development
・ OJT and training * Supported by a job coach

Career path system
・ Leader system
・ Meister apprenticeship system

Implementing new workstyles

Improving engagement
・ Celebration/Awardsystem・ Participation in Abilympics(work skill Olympics)* Job coach: Person who is employed by a company to coach people employed at that company

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

1919

Non-financial Strategies

Strengthening of GovernanceManagement・Operation

Education・Development

Recruitment

・Compliance education
・Personal information education
・CSR education
・Human rights education
・Information security education
・BCP education
・Re-skilling education
・Business manager education
・Interview upskilling training
・Complaint prevention training

Stakeholders

To be the partner ofchoice and trust

Value
Co-creation

Employees

Business Partners

Shareholders・
Investors

Community・Society

Clients
Assignment

As a corporate group with strengths in human resources development,
we will implement educational programs to maintain governanceand continue our efforts to earn the trust of our stakeholders.
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20

20

３

-3 Business Strategies General Human Resources Services～ Deepening Existing Strategies and Exploring New Strategies ～Confidential/Copyright 2024 NISSO Holdings All rights reserved.

21

21

Deepening Existing Strategies

Technological Innovation Resulting in Changing Needs of a Changing Industry

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

22

The needs of our clients are described on this slide, which is titled “Technological Innovation
Resulting in Changing Needs of a Changing Industry.”
Our manufacturing-related human resources services have traditionally focused on operatorsfor mass production. Particularly in the past two or three years, we have been developing
people with equipment maintenance backgrounds. However, as the impact of technologicalinnovation on manufacturing and development has become more visible, companies that do nothave the ability and structure to develop human resources will not be able to face new growth.
In light of this, as stated in the bottom three rows of the slide, we "anticipate an increasingneed for professional human resources who are highly skilled in development, process
management, and maintenance to replace conventional operators" and we will proceed withthe development of such human resources with a great deal of commitment.

22

Deepening Existing Strategies Industry Strategy
As the industrial structure changes at an accelerating pace against the backdrop of technological innovation and environmental
issues, the image of human resources required for each industry is also changing every moment. In particular, in order tomeet the human resources needs of Japan's leading industries centered on automobiles, semiconductor, and electronics, wehave established training facilities equipped with the latest manufacturing equipment to develop high value-added humanresources, and provide strong support to the transforming industrial world.

Industry Strategy

Industries driving Society 5.0
Automotive
Industry

Semiconductor
Industry

Electronics
Industry

Automobiles/
EV-related
Semiconductors/
semiconductor
manufacturing
equipment
Communicationequipment/
electronic components

We also actively participate in industry-government-academia collaborations, and are currently
participating in 5 educational consortiums nationwide to promote the improvement of the qualityof education. (See P29)

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

23

From here, I will explain our strategies for digging deeper into each industry, industry byindustry.

23

Deepening Existing Strategies Industry Strategy

Automotive

Automotive industry being changed by CASE

Liquid LiB Production Locations
Mainly for Vehicles in the Kansai Area

Connected➤Connected ➤Vehicles as a part of IoTAutonomous➤Self-driving vehicles ➤Autonomous operation

Lithium Energy Japan

Suminoe, Osaka

Panasonic Energy Co., Ltd.

Kaizuka, Osaka

Panasonic Energy Co., Ltd.

Wakayama

Blue Energy Co., Ltd.

Shared & Service➤Sharing services ➤Car sharing, other sharing services

Vehicle Energy Japan Inc.
Prime Planet Energy & Solutions, Inc.

Electric➤Electrification ➤Carbon neutrality

Changes in the manufacturing/production area
Increase inbattery demand

Increase in
semiconductor
components

Supply chain
restructuring

High-mix,
small-lot production

Change in assembly method(gigacasting, etc.)

Shiga

Panasonic Energy Co., Ltd.

Kyoto
Kyoto
Kasai, Hyogo

Prime Planet Energy & Solutions, Inc.

Himeji, Hyogo

Prime Planet Energy & Solutions, Inc.

Sumoto, Hyogo

Prime Planet Energy & Solutions, Inc.

Tokushima★ Participating in Kansai Storage Battery Human Resources
Development Consortium

Reduced need for operators
Increased need for maintenance/engineers

The automotive industry is said to be undergoinga once-in-a-century transformation. We will continue to contributeto transformation of the industry through human resources.
Confidential/Copyright 2024 NISSO Holdings All rights reserved.

Kansai Storage Battery Human Resources Development Consortium (Kansai (Kinki)(Bureau of Economy, Trade and Industry) (meti.go.jp)

24

The first of our industry strategies addresses the Automotive Industry. As you all know,
although the electrification of automobiles has become the global trend, in addition to this,various new developments such as autonomous driving, as shown in the upper left part of thisslide, will become more and more common in the future.
The Automotive Industry, in particular, is said to be undergoing a once-in-a-century
transformation. While some industries and companies will be hard hit as a result of thesechanges, we believe they will also create opportunities for others. In particular, we have theadvantage of doing business with all body manufacturers.
The key devices and essential components that will become important in the future will besemiconductors, software, and batteries, and therefore, we will focus our efforts on developing
human resources and providing services in the field of batteries ahead of other companies.
We are already participating in organizations such as the Kansai Storage Battery Human
Resources Development Consortium. Other participating companies are listed on the lower rightof the slide. We also opened a Technical Center in Shiga Prefecture in 2024, which is dedicatedto the development of human resources for batteries.
However, since batteries, unlike semiconductors, are heavy and large, it is expected that suchfactories will be set up throughout the country in the future to facilitate their transportation.
Although some of these plans have already been confirmed, and others will become clearer inthe future, the Automotive Industry Strategy will firmly face up to these opportunities.

24

Deepening Existing Strategies Industry Strategy

Semiconductor and Electronics

2024 onward: Examples of information on newinvestments in semiconductor plants

 Delving deeper into industryacademia-government relations
 Active participation in local
government consortiums in addition
to METI regional bureau
consortiums

Hokkaido Semiconductor
Human Resources Development
Promotion Council

Participating since Aug. 2023

(From company announcements/various media)

Start-up
Year

2027

2026

Chugoku Regional Semiconductor
Industry Promotion Council
Participating since Nov. 2022

Kyushu Semiconductor
Human Resources
Development Consortium

Tohoku Semiconductor andElectronics Design Study Group

2025

Participating since Nov. 2022

2024

Participating since Apr. 2023

Kumamoto Prefectural Governor
Accredited Vocational Training School
Nisso Technical Center Kumamoto(Ozu-machi, Kumamoto)* Opened in April 2023; expanded in May 2024

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

The aim is to contribute tosemiconductor humanresources development andgain access for and expand
NISSO’s services.

Area

Company nameProduct

Chitose, Hokkaido

Rapidus Corporation

2 nm (300 mm)

Ohira, Miyagi

JSMC

55 nm 40 nm 28 nm(300 mm)

Koshi, Kumamoto

SONY

Image sensors

Kikuyo, Kumamoto

Mitsubishi Electric
Corporation

SiC power

Isahaya, Nagasaki

KYOCERA
Corporation

Fine ceramic parts, etc.

Isesaki, Gunma

Shin-Etsu ChemicalCo., Ltd.

Semiconductor
lithography materials

Kitakyushu, Fukuoka

Mitsubishi ChemicalGroup Corporation

Light-sensitive
polymers for photo
resistHigashihiroshima,
Hiroshima

Micron Memory Japan,
K.K.

1 γDRAM (300mm)

Kitakami, Iwate

KIOXIA Iwate
Corporation

NAND flash memory(300mm)Nomi, Ishikawa

KAGA TOSHIBAELECTRONICSCORPORATIONPower semiconductors(300 mm)

Kai, Yamanashi

Renesas Electronics
Corporation

Power semiconductors(300 mm)Yokkaichi, Mie

KIOXIA Corporation

3D flash memory(300 mm)

Kikuyo, Kumamoto

JASM

28 nm 22 nm 16 nm
12 nm(300 mm)

Kunitomi, Miyazaki

LAPIS Semiconductor
Co., Ltd.

Power semiconductors(150 mm)25

Our second industry strategy is for the Semiconductor and Electronics Industries. Currently, theTechnical Center shown on the slide is in operation.
When we started up in Kumamoto, it became clear that Japan was about to launch new
semiconductor factories with the help of a large amount of subsidies. On the other hand, there
is a shortage of human resources to support mass production. This is true not only for those
directly employed by manufacturers, but also for human resources service companies like ours.
When we opened the Nisso Technical Center in Kumamoto and had our clients visit the center,
we were told that they would definitely like to utilize the center for their own employee training
as well. In Kumamoto, we have a state-of-the-art 300 mm, 12-inch semiconductor
manufacturing equipment currently used in mass production kept powered up. In fact, since
semiconductor manufacturers are already engaged in mass production, they may not able touse the actual equipment for training at their actual workplaces. Since no other company canoffer such an environment, this is an added value for us.
The reason why we are strengthening our Technical Center in Kumamoto is because we knowthat major semiconductor projects will continue to be launched in the Kyushu area, centeringon Kumamoto, in the form of the Silicon Island concept.

25

Deepening Existing Strategies Recruitment Strategy

Expanding Recruitment of Global Human Resources

In the Nisso Group, we establish various systems
and an environment that makes all of our global
human resources think:
I’m glad I came to Japan.
I want to work in Japan more.

MainlyAsian region

Local educational
institutions

Recruit current
students/graduates
Train inJapanese language
and culture

Automotive

Storagebattery
Improve benefits
and career-advancement
system and

Recruitwork-ready people qualified asEngineer/Specialist in
Humanities/International
Services, or with otherspecialized skills

Local companies,
dispatchingorganizations, anddomestic companies

We comply with
the RBA Code of Conduct

FY 3/2030:
Expand to

3,000 employees

expand opportunities
to flourish

Semiconductors

Assignmainly to engineering positions

Nursing careand healthcare

Co-creation
Resorts and restaurants*RBA: Responsible Business Alliance

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

26

This is our global human resources strategy. First of all, we will develop human resources withhigh market value by reskilling, etc., those who are currently employed in the Group. As theworking population continues to decline, we believe that it is inevitable that foreign nationals
will play an active role in the industry. Starting with Vietnam, we will create an education andrecruitment structure centered on Asia, assign them to engineering positions, and further
expand their range of opportunities.
In addition to the industries listed in the slide, we believe that a time will come when foreign
nationals will have to play an even greater role in the service industry and nursing care areas in
the future. Furthermore, we hope to create an environment in which 3,000 engineers canflourish by 2030.

26

Deepening Existing Strategies Recruitment Strategy

Targeting Zero Mismatches

Despite the declining population of working age, mismatches are occurring at recruitment sites on a nearly daily
basis. Mismatches can be resolved if recruitment sites have a menu of many different types of work to offer.
（Within the Group）（Outside the Group）

Recruiting consortium

any

any

Expansion

Recruitment
platform
Matching by AI
Increased accuracy

Expansion

Value
Co-creation(May 2024
Capital and business alliances)

And more

Diversification ofhuman resources needs

any

Alliances

Diversification ofsocial issues

HR Tech-relatedcompanies

Human resources
service-relatedcompanies

any

any

Mobilization of humanresources

Reach zero mismatches by building and deploying a recruitment platform that utilizes Groupsynergies to respond to diversifying social issues and meet human resources needs.
Confidential/Copyright 2024 NISSO Holdings All rights reserved.

27

This slide is also about our recruitment strategy. Currently, we interview a little over 4 times as
many people as we hire each month. Unfortunately, only about a quarter of the people we are
seeking are actually hired, which indicates that there is a very large number of mismatches.
There are a variety of reasons for this, such as applicants not meeting our desired conditions or
not having the type of jobs that they are seeking.
The slide states that our target is to achieve zero mismatches, and in fact, the capital andbusiness alliance with the TSUNAGU GROUP, which I explained earlier, is meant for that
purpose as well. We formed a recruiting consortium with more than 130 human resources
service-related companies and HR Tech-related companies. We are also in the process ofbuilding a system to improve the accuracy of our analog-based platform by utilizing digital AI
matching to ensure that applicants will not be overlooked or mismatches will not occur.

27

Deepening Existing Strategies Development Strategy

NISSO HD's Development Abilities【Nisso Technical Center
Higashi-Nihon】【Nisso Technical Center
Naka-Nihon】【Nisso EV Technical Center
Kansai】【Nisso Technical Center
Kumamoto】

Founding Philosophy

Nurturing and Bringing Out
the Best in People
Core Competence

Overwhelming Human Resources
Development Capabilities

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

28

28

Deepening Existing Strategies Development Strategy

Nationwide Network of Training Bases
Nagano Prefectural Governor
Accredited Vocational
Training School

Nisso Technical Center
Naka-Nihon (Okaya City, Nagano)(Tomakomai City, Hokkaido)

Participation from November 2022

Miyagi Prefectural Governor
Accredited Vocational
Training School

March, 2024

Chugoku Regional Semiconductor
Industry Promotion Council

Nisso Technical Center
Higashi-Nihon (Kurihara City, Miyagi)

Participation from November 2022

Kyushu Semiconductor Human
Resources Development Consortium

Ota Training
CenterParticipation from April 2023

Nisso Technical Center
Kumamoto (Ozu-machi, Kumamoto)※Opened in April 2023, Expansion in May 2024

Participation from August 2023

Tohoku Semiconductor and Electronics
Design Study Group

Nisso EV Technical Center
Kansai (Omihachiman City, Shiga)

Kumamoto Prefectural Governor
Accredited Vocational
Training School

Hokkaido Semiconductor Human
Resources Development
Promotion Council

Tomakomai Training Center(Ota City, Gunma)

Kansai Storage Battery
Human Resources
Development Consortium

Participation from November 2023

Nisso Techno Center(Yokohama, Kanagawa)

Hamamatsu Training Center(Hamamatsu City, Shizuoka)

Toyota Training Center (Toyota City, Aichi)

In order to meet the human resources needs of each industry, we will open new educational facilities
and further promote industry-government-academia collaboration
Confidential/Copyright 2024 NISSO Holdings All rights reserved.

29

I would like to talk about our training bases and what they offer. As I mentioned earlier, withregard to the development of human resources for the semiconductor industry, we aredeveloping human resources to support and/or develop mass production technologies in thesemiconductor and battery industries in cooperation with industry, government, and academia
in each region. To this end, we are planning to participate in consortiums as well as to open
Technical Centers as needed. The slide shows our training bases that are spread throughout
Japan.

29

Deepening Existing Strategies Development Strategy

Development of Semiconductor Human Resources●Facility characteristics
Location for training equipment technology engineers to support
manufacturing of semiconductors and other electronic device
systems.
(1) Equipment technology order training (designed to address owned equipment
and needs)(2) Subcontractor training (training for employees of business partners)(3) Conventional training (development of in-house engineers)

Nisso Technical Center Kumamoto
Building No. 2 was completed and theconstruction completion ceremony washeld on May 30, 2024.

●Curriculum characteristics
電気工学やバッテリー技術などの専門知識を持つ人材
Our vocational training curriculum provides an environmentの需要が増加すると考えております。そのため、製造
where trainees can learn actual work skills, including learning
業界では新たなスキルや教育プログラムの必要性が高through failure, not possible in on-the-job training at actual worksites. We implemented a short-term intensive training program
まると考えております。

consisting of classroom study (2F) and practical hands-on training(1F) in an environment where participants can learn by working
onsite, including learning through failure.

●Equipment characteristics
The training center became operational when we brought actual,
cutting-edge 12-inch semiconductor manufacturing equipment
online (etching, CVD).
Due in part to numerous client requests, we embarked on an expansion project in 2024. The area will be double the current
area and will serve as a training that can accommodate up to three times the current capacity.
Confidential/Copyright 2024 NISSO Holdings All rights reserved.

30This slide shows the Nisso Technical Center Kumamoto Building No. 2, which I talked about alittle earlier. The actual so-called 12-inch semiconductor manufacturing equipment is inoperation, and available for use for training in etching and CVD.

30

Deepening Existing Strategies Development Strategy

Up-skilling and Re-skilling of Human Resources Accompanying the Shift to Electric Vehicles (EV)

Issues involved in the shift to EV

・Changing components
・Changing production
processes

・Changing systems
・Changing human resources (skill)requirements

We think the demand for human resources who possess specialized knowledge of electrical engineering,battery technology, etc. will increase. We therefore think the need for new skills and training programs in the
manufacturing industry will also increase.

Rolling out a strategy aimed at
adapting to the shift to EV and a sustainable futureParticipating in the
Kansai Storage Battery
Human Resources
Development
Consortium
We opened a vocational training andcertification school in Shiga Prefecture on
March 25, 2024, and will increase EV training
content in the future.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

31This is a training base for storage batteries that we opened this year.

31

Deepening Existing Strategies Development Strategy

Meeting the Needs of a Changing Industry

In the Chubu and Tokai region,
We are planning to open a core training
location to develop various kinds of engineers,
mainly for absolutely essential maintenancein the rapidly changing automobile, storage
battery, and semiconductor areas.
The main target for development is skill
improvement/re-skilling of personnel wholack experience and manufacturing operators.
Our plan is to accommodate external
development needs as well as our own.
We are currently considering development
and introduction of a curriculum that utilizes
extended reality (XR) technology in addition
to the actual core equipment.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

32

From here, I would like to share some information about the Chubu-Tokai region in advance.
The Chubu-Tokai region has a very high concentration of manufacturing industries. The region
will further expand with manufacturing sites to include storage batteries and power
semiconductors.
For this reason, we are planning to establish a strong base in this area to develop humanresources that will be needed in the future. In addition education that focuses on actual
equipment, we plan to develop and introduce a curriculum that utilizes technologies such as AR
and VR.

32

Exploring New Strategies Creation of New Services

The size of the human resources market is said to be around 10 trillion yen.
This market is expected to remain stable and continue growing while evolving
in structure.
We will accelerate exploration of new human resources-based business models
as we reflect on the essential nature of working.
In line with our founding philosophy of“Nurturing and Bringing Out the Best in People”
we will co-create value with all of our stakeholders
as we create opportunities and hopes for people to workand continue to take on challenges targeted at being a group with high growthpotential.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

33

33

Exploring New Strategies Creation of New Services

Education/Training Entrustment Services
Challenges faced bymanufacturers
Difficulties in both
recruitment and humanresources development
due to changes in themarket and workplaceenvironment

Strengths of the Nisso Group

Value Co-creation

Training programs forpeople from manydifferent industries
and those with noexperience

Entrusted needs
Service provision Development of training programs・OJT
that can respond to diversification
 Shortage of human resources in the sciences Human resources in the humanities andexperience in other industries ・ Trainingof inexperienced manufacturing personnel
 Shortage of human resources・instructors
who can educate

NISSO HR
Development Service

Training facilities
equipped withactual equipment

Customized training programs thatmeet the needs of our clients
MONOZUKURI (manufacturing)education,engineer education,
hazard simulation training, etc.

Diverse teamof instructors
from various
companies

Plans to expand into areas such as IT, data science,and AI engineers

To be the partner of choice and trust【Clients who have endorsed us】※Titles omitted

・Primearth EV Energy Co., Ltd. ・TDK Corporation ・Nikon Corporation ・Mitsubishi Electric Corporation Power Device Works・KIOXIA Iwate Corporation ・DENSO IWATE CORPORATION ・RHOMBIC Corporation ・Kurihara city office otherConfidential/Copyright 2024 NISSO Holdings All rights reserved.

34

I will now provide an explanation about the creation of new services. The lower part of the slide
shows our clients who have endorsed the “NISSO HR Development Service”. With the approvalof our main clients for this service, we have agreed to help them develop their own humanresources.
Although some of our clients did not allow their company names to be listed, we plan toincrease the number of the clients who endorse this service in the future. In addition toproviding training in the area of our client's skilled and/or technical employees, we intend to
expand this service into one that provides more advanced training by enhancing our training
expertise and capabilities.

34

Exploring New Strategies Creation of New Services

Start engineer

Issues involved in human resources development

No time for humanresourcesdevelopment

Shortage of
instructors

There are no external
instructors, andoutsourcing instruction isexpensive

Unable to provide training insemiconductors and otherspecialized areas

Content enhanced by the e-learning system we developed
Currently selling to the general public together with our business
partner (Proseeds Co., Ltd.)

Content created fromgroup training of over
2,000 people

A curriculum that eventhose with zero basic
knowledge can understandEasy-to-understandeducational materials anda robust support structure

An extensive line-up,
ranging from basic areas
to new areas

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

35

Let me explain "Start engineer.” We have a Technical Center using actual equipment, and avariety of training systems and content that have been taken by more than 2,000 people todate.
Since such content is hard to find, we started to sell it to the general public, including othercompanies in our industry and companies other than our clients, using the e-learning system
together with Proseeds Co., Ltd., with whom we have a business alliance.

35

Exploring New Strategies Creation of New Services

Manufacturing-related Human Resources Services Continuing to Expand

The Nisso Group will continue to support each client with customized services
that utilize our Group synergies to the fullest extent for manufacturers who are confrontingsocial issues head-on.
Decline in working-age
population
Aging employees
Diversity management
Using non-Japanesehuman resources
Pursuing work-stylereformHuman capitalmanagement
Responding totechnological innovation

AI for manufacturing area

Clients

General human resources services for
manufacturing

Personnel consulting
and RPO

Adding even greater
value to services

any

Utilization ofpeople with disabilities
Use of exchange students,
manufacturing contracting,semiconductor equipment assembly

FA (factory automation)
Engineer dispatching

RPO and part-time
recruitment

Administrative
dispatching

Utilization of highly-skilled,seasoned seniors

Reducing environmental
load
Confidential/Copyright 2024 NISSO Holdings All rights reserved.

36

Traditionally, as a human resources company, we have provided services that provide humanresources to our clients.
In recent years, however, we have been receiving a variety of inquiries from manufacturers,
who are faced with an increasing number of issues that need to be addressed such as thediversification of employment, human capital management, and technological innovation, but
do not have the man-hours to respond to them.
In response, in addition to our existing external labor services such as temporary humanresources dispatching and contracting, the Nisso Group is now working together to provide
support for various issues that need to be addressed in the future, including the hiring totraining, and management of new graduates, mid-career employees, and contract employees,
hired directly by our clients. The Nisso Group has begun a new initiative to work together tosupport clients by providing customized services tailored to their needs.

36

３-3 Business Strategies Nursing Care・Welfare Services～ Deepening Existing Strategies and Exploring New Strategies ～Confidential/Copyright 2024 NISSO Holdings All rights reserved.

37

37

Nursing Care・Welfare Services

Business Environment and Social Issues●Status of Elderly・Nursing Care Staff■ Trends inElderly byPrefecture

2020

2030
Aging rate (%)

Total population(10,000 people)

Population aged
65 and over
(10,000 people)

Aging rate (%)

Growth rateof the aging
rate (points)

3,603

28.6

12,011

3,696

30.8

2.2

924

236

25.5

912

255

28.0

2.5

183

58

31.7

164

60

36.6

4.9

Total population(10,000 people)

Population aged
65 and over
(10,000 people)

Nationwide

12,615Kanagawa
Prefecture
Fukushima
Prefecture

Nursing Care Staff・Trends in Active Job Openings-to-Applicants Ratio
January 2023

January 2024

Nationwide

1.35

1.27

Kanagawa
Prefecture

1.10

1.09

Fukushima
Prefecture

1.56

1.44

Nursing care staff

3.82

4.00

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

Source: "Projected Population by Region in Japan (December 2023 Estimate)" National Instituteof Population and Social Security ResearchSocial Issues in Nursing Care・Further increase in the number of people requiring nursing care
・Chronic shortage of nursing care workers
・Decline in the quality of nursing care services

Source: "General Employment Placement Status" Ministry of Health, Labour and Welfare

38This slide summarizes data on the business environment and social issues related to the
Nursing Care・Welfare Services.

38

Nursing Care・Welfare Services Deepening Existing Strategies

Existing Services

4 Commitments
Commitment to Customers
We treat each customer withconsideration for theirbackground, history, likes,
dislikes, hobbies, andpreferences, and value them
wholeheartedly.

Commitment to Service
We act immediately inresponse to customer requests,
and our team discusses anddetermines how to best
respond to them.

Commitment toLocal Communities
We value activities that arerooted in the local community,
and strive to create an open
environment where people canfeel free to consult with us
through open and cheerfulcommunication.

Commitment to Peers
Our staff exchange greetings
with each other with a smileand sincerely express their
gratitude by saying "thank you".
We will cooperate and support
each other with acompassionate heart to provide
better services.

5 Services
Facility Nursing
Care Services

Outpatient
Care Services

In-homeCare Services

Home-visit Nursing
Care・Disability
Support Services

Welfare Equipment(Assistive Products)
Home Improvement
Services

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

39

This slide shows the "4 Commitments" of the Nursing Care・Welfare Services and the "5Services" that are currently being provided.

39

Nursing Care・Welfare Services Exploring New Strategies

New Initiatives

Utilization of diverse
human resources

Improvement of
nursing care quality

 Promoting the utilization of foreign
human resources‗New assignment to Bldg. 5‗Leader development‗Home-visit nursing care staff training

 Industry-government-academia
collaboration‗Basic agreement with Kanagawa
Prefecture on improvement of
pre-symptomatic diseases

Improvement of
productivity
 Utilization of nursing care
support robots and ICT
 Manualized and extensive
training programs

 Joint research with universities‗Joint research agreement with
Yokohama National University～Joint research on environmental adaptationof residents in facilities for the elderly～

Nisso Nifty will contribute to solving social issues andimproving customer satisfaction.
Confidential/Copyright 2024 NISSO Holdings All rights reserved.

40

As a human resources service company, we are particularly focused on human resources
development in our Nursing Care・Welfare Services compared to other nursing care facilities.
It is said that in this field, it will be increasingly necessary for foreign nationals to play an activerole in the future. Therefore, the first thing we need to do is to take on the challenge ofdeveloping a training system and management methods that will enable foreign nationals toplay an active role in our facilities, and then expand it to other facilities as well.
The second is to improve the quality of nursing care. We will also take on the challenge of"providing high quality services more efficiently" in collaboration with industry, government,
and academia.
And the third is to improve productivity. We will utilize ICT and develop various instruments
and equipment to reduce the burden on caregivers, rather than just depending on the so-called
manpower.
Since some of our clients are also involved in these fields, we would like to take on thechallenge of commercializing this technology while experimenting with them at our facilities.

40

３-4 DX Strategy

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

41

41

DX Strategy～FY 3/2024

Procuring, building,and introducing
infrastructure
Introducing
individually optimal
apps
・ PC upgrades/replacement
・ Smartphone distribution
・ Building individually optimal coresystems・ Introduction of groupware
・ Internal network configuration
・ Data center relocation

Next Medium-term Management Plan
PeriodNew Medium-term Management Plan Period

Previous Medium-term Management Plan Period

FY 3/2025

FY 3/2026

FY 3/2027

The three pillarsof the digital infrastructure construction phase
Build/Strengthen
digitalinfrastructure

Providing the digital infrastructure to access apps nomatter the time or place

Visualization/
Sophistication ofmanagement

Integration, visualization, standardization, andutilization of group management data

Business reform/
Optimization/
Automation

Use of AI, virtual reality (VR), and other technology
to improve in operating efficiencyｐｐ

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

FY 3/2028

FY 3/2029～

Leveraging digital infrastructure tocontribute to performance expansion

Enhancing
Existing
Strategies• Rapid action through datautilization• Improved matching accuracy～Improvement of
number of enrolled staff ×
unit-cost × operating rate～

Exploring New
Strategies• AI × HR = HRTech
Providing clients with newservices using AI, big data, etc.
• Converting educational content
into VR and selling it externally42This slide shows our DX Strategy.
In the current fiscal year, we will lay the groundwork for this strategy, and from the next fiscal
year onwards, we will ensure full-scale efficiency, sophistication, and visualization of ourbusiness through digitalization. In the final year of our Medium-term Management Plan, we
intend to steadily develop our business utilizing this expertise.
In particular, we believe that our efforts in the HRTech area and the use of VR and othertechnologies for educational content will also be very new business opportunities in the future.

42

４Management Targets and Financial Indicators

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

43

43

Management Targets

Aiming for Net Sales of 150 Billion Yen and Operating Profit of 7.5 Billion Yen (Profit Margin of 5%) for FY 3/2028

Previous Medium-termManagement Plan Period

New Medium-term Management Plan Period

Next Medium-term Management Plan Period

Search out new investments (including M&A) to acquire ample roomfor growth in net sales

TargetNet sales:150.0B
Net sales plan from deepening
existing strategies

Operating profit: 7.5B

Operating profit margin:５%

OutlookNet sales:106.0B
Operating profit: 3.8B

Operating profit margin: 3.8%

FY 3/2025

Profit plan from deepening existing strategies

FY 3/2026

FY 3/2027

FY 3/2028

Fluctuations in profits affected by goodwill from investments

FY 3/2029

FY 3/2030

FY 3/2031

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

44

For FY 3/2028, we will make various investments with the goal of achieving net sales of 150
billion yen, operating income of 7.5 billion yen, and operating profit margin of 5%.
This is predicated on the assumption that we will steadily expand the new factory start-up
projects in 2026 and 2027 that I mentioned earlier. As we have been making investments
toward this goal since the current fiscal year, we are falling short of the profits in the current
Medium-term Management Plan, and are behind schedule. We hope that you will accept thisand continue to give us your support.

44

Financial Indicators

Management Targets

Management Indicators
Growthpotential

Net sales growth rate
(CAGR)

12.3% or more
Growth rate above industry standards

Profitability

Operating profit margin

5% or more

ROE

Average of 20% or more

ROIC

Average of 15% or moreSoundness

Financial leverage

2.5 times or more

Shareholder
returns

Dividend payout ratio

30% or more

Efficiency

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

45

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５

Company Profile

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

46

46

Company Profile

Trade NameNISSO HOLDINGS Co., Ltd. (Japanese Co. Name: ＮＩＳＳＯホールディングス株式会社)

Securities Code9332 (Prime Market, Tokyo Stock Exchange)

URL

https://www.nisso-hd.com/en/

Fiscal Year-end

March 31

Date Established

October 2, 2023

Capital2,016 Million JPY (As of March 31, 2024)

Headquarters

1-4-1 Shin Yokohama, Kohoku-ku, Yokohama, Kanagawa 222-0033

Business
Description

Business management of group companies, etc. engaged in manufacturing
dispatching・manufacturing contracting, general office dispatching・BPO, facility
nursing care・home-based nursing care, etc., and incidental or related
operations, etc.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

47

47

List of Group Companies
Our Company・
HoldingCompany

NISSO HOLDINGS Co., Ltd.

Consolidated
subsidiary

NISSO CORPORATION

Manufacturing dispatching・
contracting, employment placement,
etc.

Consolidated
subsidiary

Vector Shinwa Co., Ltd.

Manufacturing dispatching・
contracting, etc.

Consolidated
subsidiary

EYE'S Co., Ltd.

Manufacturing dispatching, IT
engineer dispatching, FA support,
etc.

Consolidated
subsidiary

Nisso Brain Co., Ltd.

Administrative dispatching, BPO, etc.

Consolidated
subsidiary

Nikon Nisso Prime Corporation

Human resources dispatching,recruitment, etc.

NISSO CORP.’sspecial-purpose
subsidiary

Nisso Pure Co., Ltd.

Light work contracting, sale ofgoods, etc.

Equity-method
affiliate

Leaf NxT Inc.

Recruitment support, HR platform
services, etc.

Equity-method
affiliate

TSUNAGU GROUPHOLDINGS Inc.

RPO, personnel consulting, etc.

Consolidated
subsidiary

Nisso Nifty Co., Ltd.

Facility nursing care, home-based
nursing care, etc.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

Manufacturing
・Production
Human
Resources
Services

Engineering
Human
Resources
Services

Administrative Human Resources
Services

Other Human Resources
Services

Nursing Care・Welfare Services

48

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The Nisso Group Continues to Expand through Co-creation
In order to solve the problems of our customers face, we will not set any restrictions and will proactively promotecollaboration with potential par tners. We aim to achieve new value co-creation (CSV) through group-wide par ticipation inconsor tiums including industry, government, and academia, business and capital alliances, investment in startups, and M& A.
anyany

AI for the
manufacturing area

M&A

HealthTech
anyCapital andBusiness Alliances
Into space

Joint Ventures/
Joint Investments
any

Toward a society
with zero mismatches
anyNew, safe batteries
anyMaking attendance management more convenient

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

49

This slide shows a diagram of "The Nisso Group Continues to Expand through Co-Creation."With the Nisso Group at the center, we are taking on the challenge of developing humanresources in new areas, as well as creating worksites and business structures with various
other companies with which we have capital and business alliances.
Furthermore, going forward, in order to address social issues, the labor market, and the issuesof our clients, we believe that we will need partners who will be able to engage in joint
ventures/joint investments, as shown in the lower left corner of the slide. I believe that finding
such partners and co-creating this value together will be a very important point.
We transitioned to a holding company in October last year, and of course, we will be moreproactive than ever with regard to M&A. However, if we work on something on our own, it may
not be easy to increase the speed of our M&A activities.
Therefore, we would like to create a Nisso Group that is willing to take on new challenges
together with other companies that offer things that we do not have.

49Appendix

Detailed List of References for Previous Medium-term Management Plan Initiative Results
Initiative Results

Reference

Advanced the industry strategy

FY 3/2024, Full year, P. 22 of materials, etc.

Added EYE‘S Co., Ltd. as a consolidated Group subsidiary

FY 3/2024, Full year, P. 34 of materials

Alliances with different
industries:

Doctors Inc.

FY 3/2023, 2Q, P. 25 of materials

Interstellar Technologies Inc.

FY 3/2023, 3Q, P. 22 of materials

APB Corporation

FY 3/2024, 3Q, P. 30 of materials, etc.

Expanded training facilities (Kumamoto, Kansai)

FY 3/2024, 3Q, P. 31 of materials, etc.

Pursued industry-government-academia collaboration(in five regions nationwide)

FY 3/2024, Full year, P. 28 of materials, etc.

Exhibited at Manufacturing World in Japan

FY 3/2024, 1Q, P. 28 of materials, etc.

Reformed personnel system

FY 3/2024, Full year, P. 27 of materials, etc.

Enhanced educational facilities and programs(for engineers and caregivers)

FY 3/2024, Full year, P. 28 of materials, etc.

Promoted changing careers to be an engineer

FY 3/2024, Full year, P. 27 of materials, etc.

“Cloud Staffing” dispatching contract management

July 29, 2022 NISSO CORPORATION News Release“Start engineer” e-learning to train new personnel

FY 3/2024, 1Q, P. 23 of materials

Use of IT in recruitment operations

FY 3/2024, 1Q, P. 28 of materials, etc.

Confidential/Copyright 2024 NISSO Holdings All rights reserved.

* “Materials” refers to financial results briefing materials NISSO HOLDINGS IR Library50

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