My name is Kato. Thank you very much for your cooperation.

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Today’s contents are as shown.

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First, I will describe the consolidated financial results.

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There are three parts to the financial results digests.
①Total transaction volume increased 10% to JPY1.1746 trillion, a record high for aquarter.
②Consolidated operating profits increased by JPY2.3 billion from the previous
year to JPY10.2 billion, the highest Q1 profit ever since quarterly disclosures
became mandatory.
③FinTech operating profits increased by JPY1.5 billion to JPY10.5 billion. Actualoperating profits that exclude the effects of last year’s difference in liquidated
accounts receivables have also increased, by JPY1 billion from the previous year
to JPY10 billion, continuing the trend of increased profits since Q3 of last year.
Retailing operating profits increased steadily to JPY1.8 billion, a JPY700-million
increase from the previous year.

4The trend for financial indicators.
As explained in the digest, the Group's total transaction volume reached a record
high for the quarter.
Operating profits and current profits both exceeded pre-COVID-19 levels, eachreaching a record high in Q1.

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Revenues and operating profits by segment.
Retailing sales revenue was JPY18.3 billion, a JPY1.1 billion-increase from theprevious year, while operating profits were JPY1.8 billion, a JPY700-million
increase from the previous year.
FinTech’s operating revenues were JPY43.6 billion, a JPY4.9-billion increase fromthe previous year, whereas operating profits were JPY10.5 billion, a JPY1.5 billionincrease from the previous year.

6Here’s a breakdown of the changes in operating profit.
Operating profit for this year was JPY10.2 billion, a JPY2.3-billion increase fromthe previous year.
Excluding the effects of the liquidated accounts receivables, actual operating
profit increased by JPY1.8 billion, a significant improvement from the previous
year's actual profit decrease of JPY300 million.
The breakdown is as follows: Retailing profit increased by JPY700 million, FinTech
profit by JPY1 billion, and entire corporate eliminations were unchanged from theprevious year.
The status for each segment will be explained on the following pages.

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Status of the Retailing business.

8Here’s a breakdown of the changes in operating profit.
Similar to the previous year, Retailing profit increased by JPY400 million fortenants and JPY100 million for events due to a decrease in unutilized floor spaceand higher unit prices.
In addition, related businesses that struggled last year have also achieved
increased profits, resulting in an overall profit increase of JPY700 million in theRetailing segment.

9Factors for the increase in tenant earnings.
Tenant earnings increased by JPY400 million due to a decrease in unutilized floorspace, along with an increase in the unit price of monthly rent per tsubo (3.3square meters).

10This is the status of the unutilized blocks of land.
The unutilized area decreased to 7,000 tsubo from 8,600 tsubo in the previousyear.
In the fiscal year ending March 2025, we plan to reduce this floor space to 6,500
tsubo.

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This is the progress of non-merchandise stores.
The floor area composition of non-merchandise tenants increased by 5% from theprevious year to 61%, showing progress in the category shift.
We plan to increase the composition of non-merchandise tenants to 65% by theend of March 2025.

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Specifically, experience-based stores that support “interests," such as theMagical Chiikawa Store and BTS COSMOS STORE, as well as experience-based
food and service tenants, such as PARK MARCHE that brings together foodrelated services, along with Galaxy Studio Osaka, are being introduced.

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The status of EC transaction volume.
Transaction volume increased 6% YoY for Q1, marking the 10th consecutive
quarter of growth and continued growth, starting with the use of specializedwebsite personnel.

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Next, I would like to discuss the status of FinTech.

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Breakdown of changes in operating profits.
In the current fiscal year, profits increased by JPY1.5 billion due to an increase inearnings from an increase in transaction volume, along with the effects of anincrease in issuing costs attributed to a sharp recovery in new memberships in fullswing, combined with curbing personnel expenses through improved productivity.
Actual operating profits that exclude the effects of liquidated accounts
receivables increased by JPY1 billion, a significant improvement over last year'sperformance.

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Record HighThis is the trend for card credit transaction volumes.
Q1 transaction volume was JPY1.08 trillion, a record high for a quarter.
Although double-digit growth was achieved through 13th consecutive quarters,

it was 1% short of the plan.

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This is the status of transaction volume for travel and entertainment, which
performed 1% below the plan.
In the original plan, we expected a reactionary decline from post-COVID-19
consumption recovery to settle down, and that the pre-COVID-19 levels oftransaction volume would remain unchanged from the previous year.
However, the decline in overseas travel, attributed to the weaker-than-expected
effects of the weaker yen, resulted in the travel and entertainment segment's YoY
transaction volumes to fall short of the plan.
Although this effect reduced profits from merchant commissions by JPY100
million, there were no effects on the segment's profit, as related expensesdecreased.

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◼

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Trends in installment and revolving fees.
YoY growth in installment and revolving credit transaction volume exceeded thegrowth in card credit transaction volumes, while commission profits grew steadily
by 9% to JPY14.5 billion.

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This shows the bad debt status.
The bad debt ratio was 0.47%, and is similar to the pre-COVID-19 levels.
This is attributed to the effects of an increase in bad debt write-offs from lastyear as the balance of receivables grew.

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The status of new memberships.
Although the number of new card applicants in Q1 was 190,000, which was lower
than the previous year due to the effects of last year's large-scale project for
EPOS cards that support individual interests, we expect the annual number toexceed the previous year's figures.

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◼

From Q2, we are planning 35 new projects for EPOS cards that support individualinterests to promote this membership growth, compared to two projects in Q1.
We expect growth in new membership. We will continue to cater to the diverse“interests" of our customers in a variety of genres, from anime character cards tomusic, sports, social contributions, and more.

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As of June 2024, the number of card membership has reached a record high of
7.65 million users.
Platinum/Gold cards and EPOS cards that support individual interests have
expanded to 58% of the total membership.

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I would like to discuss co-creation investments.

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In Q1, we invested JPY1 billion in startup companies and JPY400 million in funds
for a total of JPY1.4 billion.
To date, the total investment is JPY29.3 billion.

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Profits contributing to the main business from co-creation investment was
JPY600 million.
The IRR of the startups that we have invested in to date is 10%, which is the samelevel as the hurdle rate of 10%.

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The balance sheet and capital allocation.

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The status of the balance sheet.
Total assets increased by 82.2 billion yen from the end of the previous period to1,085.7 billion yen, mainly due to an increase in Operating receivables resulting
from a decrease in the amount of proceeds from liquidated accounts receivables
for the first installment payment.
Also, the equity ratio was 22.8%, a 2.4% decrease from the end of the previous
fiscal year.

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Capital
optimization

Share Buybacks

Human capital investment¥I will now move on to capital allocation.
Among the JPY12.6 billion in basic operating cash flow, JPY3.9 billion is allocatedfor growth investment and JPY9.6 billion for dividends.
We repurchased JPY1.6 billion of our own stocks, a portion of which was allocatedfrom loans.
Also, human capital investment is JPY2.6 billion, of which 28% accounts forpersonnel costs.

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ESG status.

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••

JAPAN
ESG Select Leaders Index

For major external ratings, the Company was selected as a constituent of the DJSIWorld Index for the sixth consecutive year.
Although the Company transitioned from the Retailing sector that was included in thecategory, to the financial sector this year, it has been selected as a constituent of theDJSI World Index, the highest evaluation rating for a Japanese company in this sector.
In addition, the Company was certified for the fifth time as a Climate Change A-list
company, the highest rating available under the CDP.

We have received the ratings as shown for other areas.

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Finally, the full-year outlook.

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This is the full-year outlook for the fiscal year ending March 2025.
In consideration of the current situation of the FinTech transaction volume, wehave lowered our outlook for the transaction volume by JPY30 billion, which we
had planned at the beginning of the year.
As a result, we expect a JPY300 million reduction in revenue linked to transaction
volume, along with a JPY300 million reduction in expenses linked to transaction
volume.
Therefore, operating profits and current profits remain unchanged from the plan at
the beginning of the year. We expect the three KPIs, namely EPS, ROE, and ROIC,
to be in line with our plan at the beginning of the year.

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Segment profit details are unchanged from what was planned at the beginning of
the period, with Retailing increasing by 122% to JPY8.5 billion, and FinTech
increasing by 5% to JPY44.5 billion.

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Finally, here is the outlook by segment for Q2 and beyond.
In the Retailing segment, we expect an increase in expenses due to higher utility
costs and strategic implementation of expenses including system costs.
However, the annual outlook is JPY8.5 billion, as we expect growth in tenantearnings and other factors in the future. This is in line with the plan at thebeginning of the year.

35This is the outlook for FinTech in Q2 and beyond.
Although the increase in profits is smaller than in Q1 due to certain factors, suchas increased system costs and a round of changes to the point program, actual
operating profits are expected to increase by JPY1.1 billion from sales revenue
growth and other factors.
Although the annual transaction volume forecast will be changed, operating profits
are expected to be as planned at the beginning of the year, at JPY44.5 billion.
This concludes my presentation. Thank you for your attention.

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The forward-looking statements contained in this presentation are based on information available at the timeof preparation of this presentation and certain assumptions that MARUI GROUP deems to be reasonable. The
forward-looking statements may differ materially from actual results due to a variety of different factors. Please
direct any inquiries to the IR Department (E-mail: marui-ir@0101.co.jp).

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