Business Model

History – Surviving the Waves of Changing Times

Blend of Tradition and Innovation –And Creation
Shimomura Hikoemon Shokei
opened a kimono fabric store“Daimonjiya”in Fushimi, Kyoto(Foundation of Daimaru)
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Announced store creed“Servicebefore Profit”to all stores

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Kiba Villa was built near Han-ei Bridge, Kiba 4-chome,
Fukagawa, Edo and a shrine of Han-ei Inari was set up in
one corner of the property (still present on the premises ofDaimaru Core Building)Edo store achieved the highest sales in Japan as a kimono
fabric dealer
The Oshio Rebellion broke out
and Daimaru escaped burning due
to its reputation as a philanthropicmerchant●●

●The Daimaru, Inc.
and Matsuzakaya
Holdings Co., Ltd.
integratedmanagement andestablished J. Front
Retailing Co., Ltd.
Phase I relocationand expansion ofDaimaru Tokyo store

Restaurant Peacock Co., Ltd. absorbed
Shoei Foods Co., Ltd. to form J. Front
Foods Co., Ltd.
Matsuzaka Service Co., Ltd. wasrenamed JFR Service Co., Ltd.
The north wing of Daimaru
Shinsaibashi store opened
JFR Service absorbed Daimaru Lease& Service Co., Ltd.
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Established“KabushikiKaisha Daimaru
Gofukuten”with acapital of ¥12 mnMarch 2011
Larger Daimaru Umeda store opened●1611 1717 1717
1736 1757 1768

2007

1837 1910 1920 1999

Phase of founding

Phase of business integration andreorganization
2008

2009

2010

2011

Phase of development/maturity
Fully launched management
reform [store-based sales reform/ gaisho (out-of-store sales)
reform] (In 2000, HR reform andback-office reform were launched)●

Established“Kabushiki Kaisha Ito
Gofukuten”with a capital of ¥0.5mn and opened a departmentstore in Sakaemachi, Nagoya●Daimaru Credit Service, Inc.
was renamed JFR Card Co., Ltd.
Daimaru Design & Engineering
Co., Ltd., Daimaru Mokko Co.,
Ltd., Matsuzakaya Seiko Co.,
Ltd. and Refix Japan, Inc.
merged into J. Front Design &Construction Co., Ltd.
Dimples’ Co., Ltd. absorbed
Daimaru Sales Associates
Co., Ltd.
Integrated the information
systems of The Daimaru, Inc.
and Matsuzakaya Co., Ltd.

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Acquired Matsuzakaya in Ueno
and renamed it“ItoMatsuzakaya”to enter into Edo●

●Ito GenzaemonSukemichi, a son ofIto Ranmaru Sukehiro
who served Oda
Nobunaga, opened akimono fabric andfancy goods
wholesale store inHonmachi, Nagoya(Foundation ofMatsuzakaya)
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September 2007
Established J. Front Retailing

November 2009
North wing of Daimaru
Shinsaibashi store opened

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The Daimaru, Inc. and MatsuzakayaCo., Ltd. merged into Daimaru
Matsuzakaya Department Stores
Co. Ltd. (“Daimaru Matsuzakaya”)
J. Front Design & Construction
Co., Ltd. absorbed DHJ Co., Ltd.
The Daimaru Tomonokai, Inc.
absorbed Matsuzakaya Tomonokai
Co., Ltd. to form Daimaru
Matsuzakaya Tomonokai Co., Ltd.

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Sold all shares ofPeacock Stores Ltd.,
which operated asupermarket business, toAeon Co., Ltd.
Acquired a 70.52%
stake in Forest Co., Ltd.
and converted it into a
consolidated subsidiary

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Fukuoka Parco increased
floor space of mainbuilding
Acquired a 22.6% stakein Senshukai Co., Ltd.
and converted it into an
equity method associate
Shanghai New World
Daimaru Department
Store opened
Decided to rebuild themain building of Daimaru
Shinsaibashi store
Decided to rebuild
Shibuya Parco
Invested in ScrumVentures

2012

2013

2014

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2015

2016

Became affiliatedwith Rakuten R-Point
Card service
Nagoya Zero Gate
openedThe new building ofFukuoka Parcoopened
Invested in CoolJapan Fund

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Kinshicho Parco opened (Mar)San-A Urasoe West Coast Parco City opened(Jun)
New main building of Daimaru Shinsaibashi
store will open (Sep)
New Shibuya Parco will open (Nov)

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Commercial complex“Nihon Seimei
Sakaemachi Building”(tentative) willopen (Nov)●●20172018

FY 2017
to 2021
new Mediumterm Business
Plan started● cquired a 33.2% stake inA
Parco Co., Ltd.“Parco”()and converted it into anequity method associateReached a basicagreement with Shanghai
Xin Nan Dong ProjectManagement Co., Ltd. andShanghai New World Co., Ltd. to provide
technical support and cooperation in
opening and operating a new department
store in Huangpu District, Shanghai, China
Jointly established JFR Plaza Inc. with
StylingLife Holdings Inc.
Increased a stake in Parco to 65% through
TOB and converted it into a consolidatedsubsidiaryDimples’Co., Ltd. spun off Daimaru
Matsuzakaya Sales Associates Co. Ltd.
Phase II expansion of Daimaru Tokyo store●●

Phase of buildingfoundations●

Voluntarily applied theInternational Financial
Reporting Standards (IFRS)Transferred the business ofJFR Online Co. Ltd.
“Ginza Six”opened
Transitioned to a“Companywith Three Committees(Nomination, Audit andRemuneration Committees)”
Transferred shares of Forest
Co., Ltd.
Kyoto Zero Gate opened
Parco_ya opened
Ueno Frontier Tower opened
JFR Plaza Inc. wasdissolved and liquidated●●FY 2014to 2016
Medium-termBusiness PlanstartedNovember 2017
Ueno Frontier Tower opened

April 2017
Ginza Six opened

2019

2020

The new main building ofDaimaru Shinsaibashi
store will be connectedwith the north wing (spring)Parco will open in thenorth wing of Daimaru
Shinsaibashi store
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2021

Phase of dramatic growth /changing the Group structure
Harajuku Zero Gate and Sannomiya
Zero Gate opened
Accepted purchase of own sharesby Senshukai Co., Ltd.

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Sapporo Zero Gate opened
Phase III renovation andgrand opening ofMatsuzakaya Nagoya store
Sendai Parco 2 opened
Hiroshima Zero Gate 2 opened

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Create andBring to Life
“New Happiness.”

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October 2012
Phase II expansion and openingof Daimaru Tokyo store

Rendering of new main buildingof Daimaru Shinsaibashi store

November 2019 Rendering of Shibuya Parco©2019, Takenaka Corporation
Integrated Report 201917