M A R U I G R O U P CO . , LT DMARUI IR DAY 2019.12

December 12, 2019

M A R U I I R DAY 2 0 1 9 . 1 2
15: 00 ~Introduction

15: 05 ~Initiatives for Experience-Providing StoreS at o ko M i k i , C h i e f M a n a ge r, C o - C reat i o n P r o m ot i o n D i v i s i o n ,B u s i n e s s P l a n n i n g D e pa r t m e n t , M A R U I CO . , LT D .

15: 30 ~Wellness Management in MARUI GROUP
R e i ko K o j i m a , Exe c u t i ve O f f i ce r,
G e n e ra l M a n a ge r, H ea l t h M a n a ge m e n t D i v i s i o n , M A R U I G R O U P CO . , LT D .

15: 55 ~B rea k16: 05 ~Discussion with External Director
Yo s h i ta ka Ta g u c h i , Ext e r n a l D i r e c t o r, M A R U I G R O U P CO . , LT D .

16: 30 ~Discussion Forum

1

Initiatives for Experience-Providing StoreMarui Family Mizokuchi's Co-Creation Activities

S ato ko M ik i, C h ie f M anage r, C o - C reatio n P ro m otio n D iv is io n,
B u s ine s s P lanning D e par tm e nt , M A R U I CO. , LT D .

Speaker Introduction

Chief Manager, Co-Creation Promotion Division,
Business Planning Department, MARUI CO., LTD.

Satoko Miki
1997 Joined MARUI GROUP CO., LTD.
2009 Needs Marketing Division2010 AIM CREATE CO., LTD., Planning Section2018 Chief Manager, Needs Marketing Division
2019 Chief Manager, Co-Creation Promotion Division3

2 F Fo o d H a l l i n M a r u i Fa m i l y M i z o n o ku c h i

Summary

Business hours

10:30 ~ 22:00
Scale

About 1,000㎡
Seats

More than 500 seats (including counter)
Tenants

22 tenants

5

Co-Creation Activities

Store Trends
・In parallel with the fixed-term rental contracts, the introduction of experience-based tenants
has been promoted, and the ratio to total floor space has been increased to 34%
・More than 60% of floor space will be transformed into experience-based tenants after 5 years■Evolution of the Store<Ratio of floor space configuration>
Current
StoresStores that sell physical goods(Products sales)

Experiences

34%

Products sales

66%

Stores for providing experience
After 5 years(Forecast)

Urban stores: Digital Native Brands(D2C, Contents, etc.)

Around 60%

40%

Suburban stores: Foods, Service, etc.

77Initiative for “Food” at Marui Family Mizokuchi
・We converted 4 floors into a food category
We provide everything of “ Cocking in home”, “Buying side dishes” and “Eating out”
10F

Restaurant

Eating out

3~9F

I can’t find vacant seat at all.

2F (Main entrance)

There aren't enough cafes in the city.

There is no place for women to drink alcohol.

Food hall

Eating out

1F (Main entrance)
Marui Shokuyu-kan

B1F

Marui Shokuyu-kan

Cooking in home
Buying side dishes8Transition status of Marui Family Mizokuchi
・ By converting 2nd floor into the food hall, The composition of providing-experience contents
focused on foods and services to whole floor space exceeded 40%

D2C・Sharing(9%)
Sundry goods(23%)

Services(6%)

Providing-experience contents
Eating and Drinking
(25%)

43%

Apparel(34%)

Food hall (3%)
9Concept of “HARA8 (Harappa)”❶More than food court, Less than restaurant
It is casual like a food court,
and also comfortable and elaborate, such as a restaurant.

❷Providing many choices, enable customers to choose "Perfect for me." anytime
It can respond to personalization.

10

Problems for Realizing the Concept❶More than food court, Less than restaurant
Leasing of Unique Tenants❷Providing many choices, enable customers to choose "Perfect for me." anytime
Business Partners

Customers

Overcome

Many choices

Simple management structure11

Co-Creation with Customers, Business Partners and MARUI・ We aim to realize "Needs that lead to big achievements when we try"through the Co-Creation that connects customers and business partners

Unawarenesswithout customer’s voice

Giving up without speaking

There is nothing to connect the two
Customers

Business partners

The portion that we can eat without leaving any leftovers

We don't know if there's a need

Personalize

We don't want to do it because it takes time12

Co-Creation with Customers, Business Partners and MARUI・ We aim to realize "Needs that lead to big achievements when we try"through the Co-Creation that connects customers and business partners

Customers

More than 2,700 customers

Business Partners

38 companies*Number of companies participatingin planning meetings in the whole store

13

Half size
Half size of “Ramen Fromage” which is representative of “Due Italian”.
Performance during the first week from opening

Half size accounts for about 20% of sales
It leads to new way to buy
and new customers
without decrease in sales
We became able to recommend
according to customer’s needs
Usually 960 yen, half size for 660 yen
From Forty Co., Ltd.
Mr. Ootani, Sales Department Manager

14

Customize
More than 2,000 types of drink provided by “FORTUNER tea box”
❶Tea leaves (4 types)❷Types of tea (6 types)❸Size (2 types)❹Temperature (2 types)❺Sweetness (4 types)❻Toppings (6 types)

Performance during the first week from opening

Customized orders accounted forabout 90% of the total
15

Customize
More than 7,000 types of curryprovided by “100 HOURS CURRY”

More than 900 types of pasta
provided by “SPAJIRO”❶Curry (12 types)❶Pasta (21 types)❷Roux (3 types)❷Amount of noodles (2 types)❸Spiciness (3 steps) * Only for curry❸Spiciness (3 steps) * 2 types of arrabbiata❹Toppings (12 types) * Customer can choose more than 2 types❹Toppings (18 types) *Customer can choose more than 2 types❺Amount of rice (7 types)
16Fusing with Digital "Order via Smartphone"・All tenants participate in the "Order via smartphone" system, which can be ordered at a table.
・Customers experience "Perfect for me." such as customizing without waiting in line

Voice of Customers

Order・I don't want to line up.

Link

・If there are people behind, I have to decide quickly!
I'm too hasty to customize it.

Payment

Mobile payment

・It is troublesome to line up with child.
I have to put up with the same shop as my child chose.

17

Result of Digitization
・The usage rate of "Order via smartphone" is very high, and 1 customer order frequency and customer unit
price are also higher than those of others
・It saves tenants the trouble of cash registers and leads to efficiency
Sales Composition

8x

Order frequency per customer

1.4 x

16%

Initial assumption

HARA8

Unit price per customer

1.4 x

1.9 times

Except for order
via smartphones

Order via smartphone

2,000 yen

Except for order
via smartphones

Order via smartphone

18

Future for digitization
・We aim for digitization of the entire store and the entire town through registration and use at MARUI store
・It will lead to expand credit card payment and credit card revenue
STEP 1.

Registering and using services
Marui Family Mizokuchi

STEP 2.

Digitization of the entire store

STEP 3.

“Cashless town"

Marui Family Mizokuchi

Entire town of Mizokuchi

Restaurant reservation
Service reservation
Waiting line for a cafe
Order foods at the table

Marui
FamilyMizokuchi

Order food at the table
Food sales by reservation19

Forecast of Initial Year

Forecast of Initial Year・By switching to food category and improving ability to attract customers,
we aim to increase the annual number of customers to 17 million (＋3 million)

Role of the store

Touchpoint

Cash point

Customer attraction and credit experience

Number ofcustomerscoming to stores

Number ofpurchase

17 million

11 million
per yearper year(＋ 3.0 million)(＋ 3.3 million)(＋4,000)

per year

New Card
members

Card LTV(Lifetime value)

21,000

Fixed-term rent income

21Cost-Effectiveness of Co-Creation Initiative<Cost><Effect>

Personnel expenses

Effect of increasing the number of customers
entering stores through renovation"Food × Co-Creation"

・8 Co-Creation employees x 80% utilization rate x 2 years

・ Effect of renovation into “food” + 9% of push-up effect

Effect of increasing sales
through introduction its own tenants

Other expense
・Rewards to customers who participated in Co-Creation activities(More than 2,700 customers)

80 million yen
Lifetime value

Gross profit 80 million yen<・+ ¥60,000/tsubo typical food court of push-up effectGross profit 40 million yen

120 million yen (initial year)

LTV Effect of Order System Registration on Smartphones: 100 million yen
・Estimate based on the 2.5 fold increase in the usage by app members compared with Normal EPOS members (Non-app members)

22

Voices of Customers and Business Partners participated in the Co-Creation

Please pay attention to the interview video.
23

Thank you very much.
24

Wellness Management in MARUI GROUP
Happiness for People and Society through Health

Re iko Ko jim a, G e ne ral M anage r, H ealth M anage m e nt D iv is io n,
Exe cu tiv e Of f ice r, M A R U I G R OU P C o. , LT D .

Speaker Introduction
General Manager, Health Management Division,
Executive Officer, MARUI GROUP CO., LTD.
Company Physician (Incumbent)

Reiko Kojima
2000 March
2000 to 2002

Acquisition of physician’s license
General hospital physician

2002 to 2008

Regular Outpatient Physician, Department of Psychosomatic Medicine

2002 to 20102010 MarchCompany Physicians, Major Manufacturers (Nonferrous)
Acquisition of Doctor of Medicine in Kitasato University Graduate School

2011 April

Company Physician (Incumbent)

2014 April

General Manager, Health Management Division (Incumbent)

2019 April

Executive Officer (Incumbent)26

Today’s Agenda❶ Purpose of “Wellness Management (Health Management)”❷ Activities and Results of Groupwide Projects

27

Today’s Agenda❶ Purpose of “Wellness Management (Health Management)”❷ Activities and Results of Groupwide Projects

28

Shared Vision for Sustainability Management
Vision 2050
Transcends Dichotomies,
A Flourishing and Inclusive Society Offering Happiness to All❶ Customer Diversity and Inclusion

4❷ Workplace inclusion❸ Ecological inclusion❹ Co-Creation Corporate Governance29

Health Management Keyword “Inclusion”
Not only “ill” and “at high risk of sickness” but also everyone should be more energetic than now.
Furthermore, realize revitalizing society.

Energetic

Not ill,0
There is no abnormalityーCommon health management

30

From “Health Management” to “Wellness Management”
When we think of health, we think of “prevention of disease”
and “personal matter”
Be energetic and happy! It was difficult to convey the sense ofvalue about that.

Changed name to “Wellness Management”
on employees’ suggestion
Dr. Halbert Dunn in the United States

Called for “alive with the glow of good health- withwellness” is the first definition (1961)“Wellness is an active process through which people
become aware of , and make choices toward, a more
successful existence.”(From MARUI GROUP "Wellness Report 2019")(National Wellness Institute)31

Recent Research: Implications of Corporate Health Initiatives
A recent study found that presenteeism (insufficient performance of workers) accounts for the largest proportion ofhealth costs among workers, not health care or employee absenteeism. For the company, efforts to improve the healthof workers are not for “Reduction of medical expenses and prevention of loss caused by absence from work due to injury
or illness” but rather for “Prevention of productivity degradation” and “Improvement of corporate performance”.
It goes without saying that employee productivity is a major factor influencing corporate performance. Actual research
results that show the correlation between health investment and corporate performance have been published in Japanand overseas.
(“Works” issued by June 2016)

Breakdown health-related costs in companies
Sickness allowance,
1.0%
Medical bills ,15.7%

Workers'compensation
benefits, 0.9%
Absentism,
4.4%■Presenteeism
Even when employees are on their jobs, they can’t
demonstrate expected performance (job performance).

Presenteeism,
77.9%

Source: “Healthy Workforce 2010 and Beyond, 2009” Partnership for Prevention
and U.S. Chamber of Commerce, Corporate ‘Health Management’ Guidebook (Ministry of Economy, Trade and Industry)32

Today’s Agenda❶ Purpose of “Wellness Management (Health Management)”❷ Activities and Results of Groupwide Projects

33

The Wellness Management Promotion Project Fosters a Corporate Culture of Raising the Hand

Group-wide members who raised their hands hold future-oriented discussions and take action

Wellness
Management
Promotion Project<Application>260
people5x<Election>

51
peopleSupportWellness
Management
Promotion
Committee(Management)

Creating a corporate culture in which employees take part by themselves
34

Wellness not only within the Company but also in “Society”
Seven subcommittees promote activities with the aim of expanding happiness to society
Subcommittee Team in 3rd term

Significance and Objectives of MARUI GROUP’s Efforts

EventsBuilding a “connection” for the communities through wellness
with MARUI GROUP as the starting point in “Nakano”, where thecompany was founded

Communities

Contributing to the local community with Sumida Sangyo Kaikan
by using community space with wellness perspective

Volunteer

Learning altruism from experiences that help others andcreating an inclusive society through wellness

Industry,
Government
and Academia

Expansion of healthmanagement

Expand activities to revitalize local communities throughwellness by collaborating with local universities and companies(Kirin Holdings, Co., Ltd.)

Co-Creation
with othercompanies

Visualization ofHappiness

Collaborating with Hitachi, Ltd. to visualize “happiness” andexpand initiatives through “Happiness Planet”

Eating habits

For all employees including those working away from home or at
offices without company cafeteria, improve eating habits andincreasing vitality

ExerciseCreating a “place” where many employees can participate inwellness activities through gymnastics and events

Communities
and Society

Corporate

3rd term
To all group companies
and society
2nd term
To theworkplace
1st term
Formulated
vision35

Visualization of “Happiness”
As group-wide projects expand, the challenge is how to quantify happiness and vitality enhancement
through wellness
Consensus indicators of “happiness” and “vitality enhancement” does not yet exist

Hitachi, Ltd.
“Happiness Planet”, which is apps
developed by Kazuo Yano Fellow, isconducted 2 demonstration experimentsfor visualization of “happiness”

What is Happiness Planet?

Every morning, based on how you choose a small challenge and how you work each day, the app uses your phone’s accelerometer and AI
to determine your happiness level the next day.
The aim of the program is to help people realize what kind of work they need to do to make them happier and change their behavior.

36

Summary of Happiness Planet Demonstration Experiment■Period

Sep.9/2019 (Monday) ~ Sep.29 (Sun) for 3 weeks■Number of Participants
Total: 95 teams 708 people (MARUI GROUP: 80 teams, 598 employees * Other companies: Hitachi Group, etc.)
All employees voluntarily participate■Festema name (by MARUI GROUP) “Let's step out! For happiness. ”■Purpose
In preparation for the full-scale introduction of Happiness Planet, check the following:❶Verification of the potential for expansion of participants❷Changes in “Psychological capital” by using Happiness Planet
and the estimation of its effects❸Review participant satisfaction37

Summary of Happiness Planet Demonstration Experiment
Voluntary participations from 35 sectors in MARUI GROUP.
Many divisions, departments had multiple teams■Teams by Organization in MARUI GROUP
Organization name

Number of teams

Omnichannel Business Headquarters

1

AIM CREATE

9

Marui City Yokohama

1

Marui Family Mizonokuchi

8

MARUI HOME SERVICE

1

Namba Marui

7

Marui Kichijoji

1

EPOS CARD

5

Marui Kinshicho

1

Machida5

Ladies Integration

1

M & C SYSTEMS

4

Sales Department

1

MARUI FACILITIES

3

Totsuka Modi

1Moving3

Head office General Affairs Department

3

Ueno Marui

1

Head oﬃce Store planning・Sales Department

3

Shinjuku Marui Annex

1

Marui Family Ebina

2

Kobe Marui

1

Kyoto Marui

2

Specialty Store Department

1

Omiya Marui2

Ikebukuro Marui

1

Head office Health Management Department

2

Nakano Marui

1

Head office Human Resources Department

2

Kitasenju Marui

1

Head office Ladies Shoes Department

1

Head office Corporate Planning Department

1

Head office Business Planning Department

1

Head office Specialty Store Department

1

Head office Real Estate Department

1

Total

80

*Compiled by Hitachi, Ltd.

38

“Lasting Happiness” = “Psychological Capital” “HERO within”
A systematization of elements of lasting happiness that can be changed by experience.
In addition to being tested in numerous academic papers and correlatingwith productivity at R = 0.3, Happiness, wellbeing, physical and mental health, relationships,
and turnover are also affected.
Characteristics

Typical questions

Professor Fred Luthans

Hope

Find one’s own way

If I have a problem, I can think of many ways to get out of it.

Efficacy

Act with confidence

I play my part in the meeting with confidence.

Resilience

Confronting difficulties

If necessary, I can work independently from others.

Optimism

See the bright side of things

I always see the bright side about my role.

39

Operating Income Improvement Effect73 people who used the apps a certain number of times improved their psychological capital by 0.27 points.
According to Luthans’ performance formula, this represents a 5.3% increase in operating income.

MARUI GROUP’s Operating income ¥41.1 billion x 5.3%
= ¥2.17 billion increase in Operating income
Changes in “Psychological capital” (Average value)
0

0.1

0.2

Overall average
People who use the apps
a certain number of times(Earned points* > 400 pt)
02
45Expected effect on operating income (%)*Earned points= Points gained from actions taken on the app, such as declaration of a challenge, measurement, and reporting.
<A measure of the degree to which an app has been used>
400 pt is an indication that more than half of the 3 weeks were spent with enthusiasm.

(From the Hitachi, Ltd. Report)

40

Change in Awareness of Wellness Management Promotion Project Members
Changes before and after project participation (60 members of 2nd term )⇒ Promoted initiatives to create a sense of unity in the work place and improved job satisfaction
and self-efficiency
December 2017
December 2018

High perceptionof healthFeel worth
workingFeel a sense ofunity workplace

High selfefficacy

Confident in job
performance41

Increased Proactive Employee Wellness Actions
Employees propose and try various plans at their workplaces. It lead to high self-efficacy and organizational revitalization
Monthly jogging with branch employees andincluding business partners

More than 80 people participate
mindfulness course after 9pm Store-Closed

Low GI diet installation of
supplementary food corner

Each branch’s「 stairway 」club

Tour of EPOS Card office walking

Mindfulness
Meditation spreads■Voluntary health news publication: Head office, Kyoto, Shiki, Soka, etc. ■Meditation corner established: Yokohama, Omiya ■Preconference mindfulness meditation:Machida, Yokohama ■ Team Competition Stair Climbing: Kitasenju, Kinshicho, Mizonokuchi, Yurakucho,
Kokubunji, Ebina, Head office ■ Sleep Seminar: Kinshicho, Nakano, etc. ■ Meals Seminar: Moving, M & C, etc. ■ Health Meeting: Ebina,
Shinjuku, Ueno, Soka, Shizuoka, Kichijoji, Kokubunji, Kinshicho, etc.

We participate“¥0 Gym” ☆

42Good Effects of Workplace Wellness Actions
Project members and others actively engaged in activities at their workplaces, and a survey conducted inJune 2019 shows that 4,250 employees, or 67% of all employees, responded that they are involved inworkplace health initiatives.
Wellness (health) actions help reduce stress and improve work engagement.
Have you participated in any health initiatives
at your workplace in the last 6 months?

n = 6322

No
33%Wellness action
participating groupn = 4250

Stress Level
Low

Wellness action
non-participating groupn = 2072

Work Engagement
Yes
67%

High

Low
45

50

55

Standard deviation values
for workers in Japan

High(June 2019, Company survey)(Analysis by New Occupational Stress Questionnaire 2019)43

Improved Overall Employee Presenteeism
Percentage of employees who are fully refreshed when
they wake up in the morning
17% in 2012⇒22% in 2017(+ 5 points)

Medical examination (100% consultation rate) Transition of the interview results

Percentage of employees who feel respected in theworkplace
28% in 2012⇒39% in 2017(+ 11 points)
Percentage of employees who are willing to work in theface of difficulties
41% in 2012⇒47% in 2017(+ 6 Points)
Percentage of employees taking on challenges by taking
advantage of their strengths
38% in 2012⇒43% in 2017(+ 5 points)

44

Wellness Management Initiatives Major External Evaluations
2017

Highest DBJ Health Rating (Rank A)

2017 - (White 500) selected as an excellent health management corporation for 3 consecutive years
2018

Ministry of Health, Labour and Welfare Award for Excellence “A workable and productive company”

2018

Health & Proactivity Stock Selection(27 of 1239 listed companies),
only selected from among 111 Retailing companies

2019

Health & Proactivity Stock Selection (36 of 1800 listed companies),
only selected from among 203 Retailing companies
Sports Yell Company certified by the Japan Sports Agency

45

Evaluation by Society and Changes in Stock Prices
MARUI GROUP has been highly evaluated, and stock prices continue to rise steadily■MARUI GROUP Stock Price (100 at the end of March 2017)

1.45

MARUI GROUP

143

1.35

+ 30

1.25

1.15

Nikkei Average

113

1.05

100
0.95

Mar.
2017

Oct.
2017

Mar.
2018

46

“Wellness Report 2019”
was issued for the first time.

We would appreciate it if you read it.

D i s c u s s i o n w i t h Ex t e r n a l D i r e c t o r
How MARUI is Unique
C o - C r e a t i o n S u s t a i n a b i l i t y M a n a g e m e n t ’s St r e n g t h
Building “Happiness” from BM to AM

Yo s h itaka Tag u ch i, Exte r nal D ire cto r, M A R U I G R OU P C o. , LT D .

Speaker Introduction
External Director, MARUI GROUP CO., LTD.

Yoshitaka Taguchi

1985

March

Joined Seino Transportation Co., Ltd. (currently Seino Holdings Co., Ltd. )

1989

July

Director, Seino Transportation Co., Ltd.

1991

July

Managing Director, Seino Transportation Co., Ltd.

1996

June

Senior Managing Director, Seino Transportation Co., Ltd.

1998

October

Representative Director and Vice President, Seino Transportation Co., Ltd.

2003

June

President and Chief Operating Officer, Seino Holdings Co., Ltd. (Incumbent)

2018

June

External Director, MARUI GROUP CO., LTD. (Incumbent)
49

How MARUI is Unique

1． Let’s Join Hands!
2． Retailing which is not Focusing Selling
3． Building a Platform for Happiness

Conclusion
4． For the Future50

1． Let’s Join Hands! (Co-Creation Sustainability Management)① Engagement force (connection) (inclusion)(e.g.) More than 600 meetings with customers in Hakata Marui: To turn from a customer to a partner(e.g.) Open innovation with start-up companies (Minna-denryoku, Inc., LGBT Parade)(e.g.) Corporate culture of Raising hand for participating proactivity(medium-term management visionary committee, various projects, etc.)② Growth potential (challenge)(e.g.) Director A from the driver’s career, CEO K of tsumiki Securities from the IR Department (VC from employees*)(e.g.) Promotion of diversity through the shared groupwide human resource system and intra-group company profession change system③ High public aspiration (social version up)
Based on the realization of new values and concepts such as “Creditability should built together with customers”
and “Pioneer spirits of creating opportunities”, “2050 To build a world that transcends dichotomies.” ( in that we are happy)(e.g.) Kitaro Nishida : Japaneseness : “Absolutely inconsistent self-identical” Elliptical Idea : Only in a World!
(e.g.) Konosuke Matsushita : “Peace and Happiness through Prosperity.”(e.g.) Ieyasu Tokugawa : "Gongu Jodo": Ending the warring states period and creating the pure land in this world*Value Creator (Human Resources)51

2． Retailing which is not Focusing Selling (New Business Model)① Evolving from flow type (Retailing) to stock type (Fixed-term rental model x FinTech)= 6.5 times stronger! The seed of the future!
(Background) (1 x 12 months =) 12: 78 (= 12 + 11 + 10 …+ 1) = 6.5 x(e.g.) Rent transfer to credit card payment(Maximizing share of EPOS card payments in household finances:
Account transfers, which is unlike cash spending on smartphone payments)② Inclusive (Expansion to LTV)(e.g.) Customers can purchase from anywhere through EPOS card(e.g.) “Intel inside!” Unique significance of hierarchy and dimension (Layer)52

3. Platform of “Happiness” : Expansion of stakeholder interests “Happiness”
Building( Reason for existence×

MissionBusiness modelBusiness×

Corporate culture )cultureMission: Contribute to co-creating a flourishing and inclusive society that offers happiness to all

Vision 2050

: Harnessing the power of business to build a world that transcends dichotomies

Philosophy: Continue evolving to better aid our customers
Equate the development of our people with the development of our company

Values: Creditability should be built together with customers

Pioneer spirit of creating opportunities

The underpinning:① Length of TOP management’s tenure(Enables long-term strategic planning) (ROESG Initiatives)② Responsibility to Customers, Shareholders, Society, Business partners, Employees + Future generations∴Contributing to green business (TCFD declaration)③ Diversity of officers and active discussion and exchange of opinions among officers (discuss unanswered issues)*Establish learning management with open and corporate culture53

4． For the Future① Further promotion of LTV management in response to environmental changes
E-commerce, Consumption of experience, Sharing, Aging society with declining birthrate, Inbound, Cashless and Investment

They are new opportunities for our company, which aims to become an off-balance stock model!

② Fostering next-generation managers (CMA: Co-Creation Management Academy)
and improving management capabilities+ Luck (Enjoy, Thank, Communicate, For the public.)+ Attractive

Smile

S (Sharing)
M (Multi)
I (Innovation)
L (Linked)
E (Eco-system)

After that...
54

4． For the Future

BM to AM?
= Build Maintenance(Asset Managed On-BS)?
to= Affiliation Management(Plus Management and Off-BS)?
55

4． For the Future（＾ ＾） bBM to AM

Before MARUI, After MARUIMarui makes everyone “happy”＜(＾ 0 ＾)＞
56

4． For the Future

Let’s Join Hands!
Co-Creation with you!

MARUISpecial thanks! For Mr. Matsumoto +Special thanks! For Ms. Kutsukake +57

Thank you for your attention. (＾＾)
Yoshitaka Taguchi