Personnel Management

HR System
Based on the idea that each employee of the MIRARTH HOLDINGS Group is a co-creator of lasting growth for the future,
Takara Leben is promoting a new personnel system that will produce the stable human resources needed to achieve its
management plan.
Under the new system, evaluation items are set for each grade and job classification based on a "Promise": specific daily
actions that employees should take. In addition, in order to realize appropriate, fair, and transparent evaluation and treatment,
revisions have been made to the behavioral evaluation, such as aligning evaluation criteria by the evaluation committee.
Through these efforts, we aim to provide more convincing feedback to employees and improve evaluation skills by promoting
understanding of the significance of the evaluation system and evaluation criteria among managers.

Basic Policy for Personnel System

Personnel system which stably nurture talent required to achieve management plan
Clearly state the type of people required by the company to build a framework where employees can set out their career vision.
Review distribution of labor costs to secure and keep talented people as well as improve motivation.
Conduct training and selection to generate talented people for management positions.
Ensure evaluation and treatment are highly fair and transparent to nurture employees’ sense of acceptance and increase their desire togrow.

12 Actions for Our Promise

1. Fully engage in work

7. Pay attention to feelings

2. Enjoy work from the heart

8. Act swiftly

3. Speak truthfully from the heart

9. Take initiative to propose, and carry through actions

4. Be serious in each and every task

10. Treat teamwork with importance

5. Respect each other11. Remove existing barriers

6. Pursue the right things

12. Never give up

39

Effects of Personnel System Revision
Takara Leben is conducting a detailed analysis of the progress of the new personnel system, which is designed to ensure
appropriate, fair, and transparent evaluations and treatment and alignment of evaluation criteria, and will work to makecontinuous improvements.
As certain problems were pointed out, including an upside trend in evaluation, variations in evaluation criteria, and delays in theacquisition of qualifications, we have considered and implemented changes to resolve these issues including changes toevaluation methods and requirements for promotions.

Attracting treatment
to the talented people

Expansionof operations

Improvement toretention rate oftalented people

Productivity improvement
Creation of new businesses
Passing down knowledge
Development of unity within
the company

360 Degree Diagnosis
We conduct 360-degree diagnosis for the purpose of training managers and above and improving the organization. The 360degree diagnosis is an effective opportunity to learn how one's daily activities are perceived by those around them, to learn
about gaps in perception between oneself and others, and to gain an objective view of oneself. The purpose of the 360-degree
diagnosis is to understand strengths and weaknesses that you do not recognize by receiving multifaceted feedback from thosearound you, and to improve your ability to demonstrate your behavior by learning about your own behavioral tendencies.
In FY2022, a questionnaire was sent to 85 persons at the rank of deputy manager and above, surveying the individual, his/hersupervisor, co-workers, and subordinates. Based on the results of the responses, feedback was provided to the individual.

Implementation of Talent Management System
As the group size expanded, it became increasingly difficult to keep track of employees, and personnel information and data
were scattered and managed by each group company. Takara Leben implemented a talent management system to solve these
problems, manage personnel information effectively and from multiple perspectives, and make the best use of humanresources.
A talent management system is a tool that converts various information on each employee's skills, abilities, transfers, andevaluations into data and centrally manages it. The centralized management of disparate information enables multifaceted
analysis and visualization of human resource information, leading to strategic utilization of human resource information. Startingwith Takara Leben, we plan to gradually roll out the system to our group companies.

40

Various Training Systems
We offer a variety of training programs aimed at the growth of each employee and the improvement of our overall strength as anorganization.

Basic Policy on Education and Training

Develop human resources not only based on our vision, but also as members of society that we can be proud of to our stakeholders.
Implement programs that enable each employee to feel a sense of personal growth and design their career.
Enhance the organization and work management skills necessary for each job rank, including leadership and developmental capabilities
and organizational management capabilities, linked with the personnel evaluation systems.
Support the acquisition of specialized knowledge, skills, and the other business skills necessary for the execution of business.

Entry-Level Employee Training
New employees undergo periodic training for three years after joining the Company to foster awareness as members of society,members of an organization, and employees as well as self-awareness of their own work duties and responsibilities within the
Company and to acquire the skills required to produce results as professionals. In accordance with the New Employee ThreeYear Educational Program, new employees undergo training in their first, second, and third years of employment to clarify theirroles, targets, objectives, and so on and to foster employees who can exercise initiative.

Support for Acquisition of Real Estate Transaction Agent Qualifications
Takara Leben is promoting initiatives to encourage its employees to obtain the Real Estate Transaction Qualification (hereafterreferred to as Takken), requiring them to submit a study plan, providing guidance on study materials, and conducting mocktests.
Takara Leben Realnet also provides support for obtaining the Takken qualification by conducting in-house tests twice a week,
using exercise books.

DX Internship
Takara Leben conducted a long-term internship program for the purpose of verifying the requirements for recruiting new
graduates who will promote DX and to inform universities and technical colleges that train engineers and other external partiesof the Company's initiatives related to digital human resources.
In FY2022, two students from Vantan Techford Academy, an educational institution that trains engineers, were invited to theTokyo Head Office and Group DX & VX Strategy Department for approximately four months to improve operations using lowcode development tools and work with the Sustainability Promotion Division on sustainability-related work experience.

Expansion of Educational and Training Programs
Takara Leben is striving to enhance its education and training programs with the aim of improving the growth of each individual
employee and the overall strength of the organization. In FY2022, we systematically implemented a year-long program toacquire the knowledge and skills required of each individual, including training for new employees, training by job level, andtraining for selected personnel.

41

Training Structure Chart
Definition

Grade•Business stances•Business etiquette•Fundamental practical skills•Listening ability•Identifying problems•Setting and managing targets

and knowledge

Individual

e-learning•Performing one’s work duties under
the detailed direction of supervisors
G1 •Acquiring
business experienceand problem-solving

Other

Housebuilder qualification acquisition support•Logical thinking abilities•Followershipthe general direction of supervisors

Improving operations

G2 •Business execution, improvement,On-the-job training•Performing one’s work duties under•Leadership•Problem-solving

Practical knowledge training

improvement, and problem-solving•Fundamental management skills

Feedback interview on evaluation of results and Conduct•Directing and guiding subordinates

G3 •Central roles in business execution,

Compliance and Harassment

Team

Vision, Mission and Promise•Strategy implementation andmanagement in one’s organization
M1 •Achieving section targets•Effective organizational operation•Developing subordinates•Organizational management

Selectivee

Improving organizations

Organization

360-degree evaluation•Management strategies•Business development•Strategy implementation andmanagement in one’s organization
M2 •Achieving department targets•Effective organizational operation•Section manager development

WorkplaceRank-based•Management strategies•Company operation

Company

Evaluator training•Strategy implementation andmanagement in one’s organization
M3 •Achieving group targets•Effective organizational operation•Department manager development

Company-wide
education

Evaluation

Officers•Management strategy formulationand decision-making•Corporate management

Scope

Job Rotation
We are promoting the activation of job rotation, which involves regular transfers of workplaces and changes in duties. By having
young employees experience transfers across headquarters and divisions, we promote understanding of the company as awhole, the pursuit of their potential, and the strengthening of their ability to adapt to different environments. We will also
develop generalists with a wide range of knowledge and skills, and strengthen organizational capabilities by deepening ties
between departments.

42

Promotion of Well-being
Policies

Employee Happiness Survey
Takara Leben, whose vision is "THINK HAPPINESS AND MAKE THE HAPPINESS." believes that increasing employee
happiness is important for improving corporate value, and conducted a happiness survey of its employees in October 2022.
Well-being refers to a state in which one is physically, mentally, and socially all fulfilled, and the importance of well-being has
been highlighted in Goal 3 of the SDGs, as well as in terms of securing human resources and maintaining and improving
economic vitality.
The Happiness Survey measures and quantifies the current level of employee happiness. We set KPIs by understanding andanalyzing "the level of happiness" and "which items are sufficient or insufficient" of our employees, as well as examining future
measures.
We will continue to conduct happiness surveys, promote strategic personnel affairs and optimal allocation of human resources
to enhance employee happiness, and strengthen the system building associated with the change to a holding company.

Employee Personnel Interviews
In order to improve the working environment and workplace environment, and to create an environment where employees want
to work for the company forever, Takara Leben conducts personnel interviews with all employees.
We collect information to reduce overtime hours, and by understanding employees' career plans, we consider improvement
measures and aim to build a relationship in which employees feel comfortable discussing these issues with us.
Takara Leben Realnet is also working to improve the workplace environment by conducting personnel interviews with all
employees and starting to operate a training system based on employees' opinions and requests.

Return to Employees
Takara Leben implemented a base salary increase of 2.5% on average in FY2023 in order to cope with the historic priceincrease and to attract, demonstrate, and activate diverse and talented human resources, who are the source of ourcompetitiveness and lead to increased productivity. We will continue to create an environment in which employees can work andlive with peace of mind, thereby improving employee engagement and strengthening Takara Leben's corporate competitiveness.

43Strengthen Communication with Employees
We are promoting initiatives to listen to the voices of our employees in order to realize a better work environment.

50th Anniversary Event
On September 21, 2022, the anniversary of its founding, Takara Leben held the Takara Leben Group 50th Anniversary Party as
its 50th anniversary event. Aiming to make the event "a day filled with much appreciation and excitement, a day to strengthen
the sense of unity that has been nurtured over the past 50 years since the company's founding, and a day to make a fresh start
toward the future," a variety of programs were implemented. A total of more than 1,200 employees and unofficial employees ofgroup companies participated in the event, deepening communication among employees in preparation for the holding company
structure.
In October, we held a "50th Anniversary Celebration - From Takara Leben to MIRARTH HOLDINGS" to which we invited
approximately 800 business partners who have shared and supported Takara Leben's growth over the past 50 years. We
expressed our gratitude for the past and introduced the new structure of MIRARTH HOLDINGS.

Introduction of 1 on 1 System
One of the seven pillars of Takara Leben's new medium-term management plan is to "develop human resources and create arewarding work environment." In order to build a better working environment by promoting communication between supervisorsand subordinates, we conduct "1 on 1" meetings where supervisors and subordinates meet on a regular basis to discuss open
topics. By providing opportunities for dialogue every other week, we aim to avoid miscommunication, promote mutual
understanding, and build trust.

Company-wide Morning Meeting and Survey
Since June 2022, Leben Clean Energy has held monthly company-wide morning meetings led by the president for the purposeof sharing the company's direction. In order to help identify and improve questions and concerns raised at that time, aquestionnaire is sent to all employees, and the president provides feedback on opinions and questions as appropriate.

44Expansion of MIRARTH NOTE
The MIRARTH Group operates an intra-group website, MIRARTH NOTE, to promote information sharing and communicationthat leads to "maximization of group synergy." MIRARTH NOTE has a function to share information on each company's
initiatives and releases among group companies, and to obtain up-to-date information useful for improving operational
efficiency, such as manuals and bulletin boards.
In FY2022, the company disseminated the progress of the 50th anniversary project and release the 50th anniversary history to
the public, and with the change of holding on October 1, the design was redesigned with a sophisticated MIRARTH-inspired
look.
In addition, with the aim of creating a website that contributes to strengthening cooperation among group companies, weregularly distribute video interviews and dialogues with management members as "Top Voice."Futsal "Kazushi Kimura Cup"In order to contribute to the community of Yokohama, Kanagawa Prefecture, where our head office is located, and to increase
corporate recognition, Leben Trust sponsored the "Kazushi Kimura Cup" futsal tournament held by Comprehensive Community
Sports Club in Yokohama City.
The Kazushi Kimura Cup is held at Sports Jungle 10, Comprehensive Community Sports Club produced in 2012 by Kazushi
Kimura, former Japanese national soccer team and former coach of Yokohama F Marinos, and is open to all ages and genders.
An exhibition match against the Dream Team led by Mr. Kazushi Kimura was also held, and a team of executives andemployees from Leben Trust participated in the match, adding to the excitement of the tournament.

45

Social Baseball Tournament
Leben Home Build held a baseball tournament jointly organized by sales and in-house departments to promote employee ties
and communication across departments. After the game, a BBQ was held for all participants. While nourishing their spirits, theparticipants deepened the friendship between internal and external employees and fostered a sense of unity throughout theorganization.

Cycling Shimanami
Takara Leben West Japan (currently Takara Leben) sponsored "Cycling Shimanami 2022" as a Silver Partner to strengthen
relationships with the community, support the area, and increase awareness of the company name. Cycling Shimanami is aninternational cycling event held every two years. All courses include riding on the highway, including the unique bridges
connecting the islands, and it is the only time in Japan that the main line of the highway, which is in service, can be ridden. Six
employees from Takara Leben West Japan participated in the event.

46

Diversity

Promoting Diversity
Women Empowerment in the Workforce
As one of the seven pillars of its medium-term management plan, MIRARTH HOLDINGS is committed to "developing humanresources and creating a rewarding workplace environment," and is working to create a workplace environment where women
can work comfortably and demonstrate their abilities by providing working conditions that are appropriate for their life stages.

Women's Activity Promotion ProjectAs part of its efforts to develop human resources and create a rewarding work environment, Takara Leben promotes the
Women's Activity Promotion Project.
In May 2022, we introduced the Babysitter Usage Discount System to enable employees who are raising children to balance
work and child rearing, subsidized by the Babysitter Dispatch Program implemented by the Cabinet Office. In October of thesame year, we introduced the Middle Career Track System, a new work style that allows women in sales positions to return towork after maternity or childcare leave while balancing work and childcare with peace of mind.
Leben Clean Energy has also established the Women's Activity Promotion Project Team to consider how changes can be madebased on the real voices of female employees, and is working to create a workplace environment where they can continue towork for a long time.

Introduction of Limited Area Employee System
In response to the urgent need to secure a workforce against the backdrop of a declining workforce due to the falling birthrate
and aging population, the urgent need to secure personnel in rural areas due to the expansion of business areas, and thegrowing needs of job seekers, Takara Leben introduced the limited area employee system in FY2022. We aim to facilitate
recruitment in local areas and to secure and retain human resources by diversifying work styles.

47

Employment of Persons with Disabilities
We are committed to the realization of diversity with the aim of becoming a corporate group where a diverse workforce,
regardless of gender, age, nationality, or disability, can play an active role. Leben Village, a farm in Chiba City, Chiba
Prefecture, employs three people with disabilities and a farm manager to grow a variety of vegetables. In addition to providing
an environment where employees can work with peace of mind on a long-term basis, vegetables grown and harvested at thefarm are regularly distributed within the company to those who wish to receive them.

Leben Village Vegetable Fair
In June 2022, a direct sale of Leben Village vegetables was held at the entrance of Takara Leben's headquarters. Members ofthe disabled who grew vegetables at Leben Village, a farm in Chiba City, Chiba Prefecture, visited our headquarters and soldsummer vegetables such as cucumbers, zucchini, and shiso leaves. The opportunity to directly purchase vegetables whileinteracting with members of the production team brought smiles to the faces of employees, and the direct sales event attracted
many employees. Many employees visited the direct sales event, and harvested vegetables were mailed to branches and sales
offices other than the head office. Proceeds from the vegetable sales were donated to the NPO TABLE FOR TWO.

48

Health Management

Comfortable Workplace Environment
Introduction of a Telework System
In April 2019, Takara Leben introduced a telework system, supporting more diverse employee work styles. Employees who meet
specific conditions, such as those related to the content of their work, or employees who have given birth, are parenting, or who
provide nursing care, can work remotely up to three times a week, without coming to the office, after implementing information
leakage countermeasures and other measures. We plan to further promote this telework system with the aims of becoming aneven more attractive company with flexible work styles that are not fixated on specific locations or times and contributing to our
BCP.

49

Yokohama Good Balance Award*
Leben Home Build has been certified as a "Yokohama Good Balance Award" company under the certification system of
Yokohama City, Kanagawa Prefecture.
This certification system supports small- and medium-sized enterprises in Yokohama City that actively promote the creation of aworkplace environment in which everyone can work comfortably.
The company has been continuously certified since FY 2017, and in FY 2021 was awarded the "Three-Time Continuous Award"
for companies that continuously work to improve their workplaces. The certification period is two years, and the company isjudged on six criteria, including "diverse and flexible work styles" and "promotion of women's activities."* The system was partially revised in FY2023 and changed from the "Yokohama Good Balance Award" to the "Yokohama Good Balance Company Certification."

Workplace Environment
Takara Leben has long held twice-monthly "clean times" to clean and organize offices in an effort to create environments where
employees can work comfortably.
At the head office, personnel in charge conduct regular internal patrols to clean conference rooms and other common spaces.
In addition, as a unique initiative, the Matsuyama Branch allocates a person in charge of cleaning office spaces and meetingrooms to each department, and all employees have time to clean these spaces four days a week. Each employee working on
how to organize and maintain the workplace environment and making efforts for beautification of the branch to keep their officeclean and hygienic on a daily basis.

50

Support for Diverse Work Styles
In light of the "Workplace Reform-Related Legislation" which has been sequentially enforced from April 2019, we are working to"correct long working hours," "realize diverse and flexible work styles," and "ensure fair treatment regardless of employment
status."With regard to long working hours, we are promoting the creation of workplaces where employees do not work long hours by, forexample, strictly enforcing "overtime work of 45 hours or less per month in principle and 60 hours or less only six times a year"
and considering visualization of actual working conditions to reflect them into personnel evaluations. Employees who work longhours are given "interview guidance by a doctor" and "monitoring of working hours," and information is shared with the HealthCommittee and industrial physicians to prevent health hazards and occupational accidents.
Regarding the use of paid leave that leads to a flexible work style suited to each employee, we strongly encourage employees
to take the annual paid leave granted to each of them, subject to compliance with the "five-day paid leave obligation."With regard to "equal pay for equal work," which came into effect in April 2020, we are "improving the treatment of contract
employees" and "considering the abolition of contract employees" with the aim of creating a workplace that is rewarding for all
employees.

Promoting Office Reforms
Leben Clean Energy moved its headquarters to Iidabashi, Tokyo, in November 2022. The new office incorporates a free-address
office layout that incorporates ABW (Activity Based Working), a work style strategy for autonomously optimizing the workplaceenvironment and work style. The new office is designed to activate communication among employees that transcends
departmental barriers and hierarchies, maximize productivity and efficiency, and conserve resources by eliminating paper.
In addition, a café space has been set up to create a space for communication and work while relaxing, and a library with books
recommended by employees has been established to promote the sharing of knowledge and entertainment.
In addition, smoke-free smoking booths are installed to prevent the diffusion of harmful substances and the smell of cigarette"
on clothing and bodies, providing an environment that is receptive to the diversity of employees and allows them to refreshthemselves efficiently in a short time.

51

Basic Policy on Health and Safety

The MIRARTH HOLDINGS Group provides proactive support to ensure the safety of employees and maintain and enhancetheir health. We strive to create work environments where diverse human resources can work to demonstrate their fullcapabilities. We have established a Health Committee to implement these measures and undertake comprehensive
employee health and safety management.

Health Committee
Takara Leben is working to create a workplace environment in which all employees can work with peace of mind, centered on
the Health Committee as stipulated by Article 18 of the Occupational Health and Safety Law.
The company's Health Committee considers "traffic accidents," "occupational accidents," and "overtime work" as important risks
that threaten the safety and health of employees in the workplace, and holds regular meetings to conduct investigations andreports on the actual situation and discusses ways to solve problems.
Committee members representing different workplaces raised specific issues of workplace environments and practices thathinder the reduction of overtime work and the promotion of leave-taking, and measures to improve them were discussed withmanagement and implemented in turn.

Periodic Medical Examinations
We encourage employees to undergo periodic medical examinations, as specified by laws and regulations, and the Human
Resources Department actively reaches out to employees to raise examination rates. We also take measures to establish work
environments at each business location that are conducive to undergoing medical examinations. In order to discover various
medical conditions at an early stage, those aged 30 and above are able to undergo medical examinations for the prevention oflifestyle diseases, female employees are able to undergo gynecological examinations, and those aged 35 and above can go for
a complete medical checkup.

Stress Checks
We conduct stress checks as a form of stress management to prevent mental health issues among employees, and the results
are shared at Executive Committee meetings. Moreover, employees can receive free counseling at any time from an
independent, third-party organization without the Company’s knowledge.

52

Safe Driving Courses
Takara Leben conducts safe driving courses at the time of entry-level employee training. The courses explain that making aneffort to prevent accidents is a part of our CSR and an aspect of corporate activities. Information on accident trends ispresented, group work in the form of risk prediction training is conducted, and various other measures are taken to prevent
accidents.

Health Care Management
Efforts to Reduce Working Hours
Takara Leben promotes a "time-conscious and efficient work style" with the aim of improving employee health, and in fiscal year
2021, we introduced an "application system for extended PC use" linked to the turning on and off of PCs. The system is
expected to reduce overtime hours because if an employee continues to use a PC without requesting extended PC use(overtime work) from the manager, a warning will appear on the screen and the PC will be shut down. On the other hand, it isexpected that managers will be able to visualize the details of their subordinates’ overtime work, thereby increasing theirawareness of the need to manage the organization in a well-balanced manner.
Each company in our group is working to create a workplace environment where employees can work in a relaxed and healthymanner.
Leben Trust is working to resolve issues identified based on an employee awareness survey regarding work-life balance byimplementing a no-overtime day twice a month in each section, encouraging staggered work hours and paid holidays, promoting
telework, supplementing personnel as needed, and promoting the introduction of DX.
In October 2022, Leben Community started operating a new attendance leaving system, which allows us to extract moreaccurate figures than before. We will continue to manage the health of our employees by checking the status of leaving work.

Mental Health
Takara Leben conducts stress checks (once a year) to encourage employees to become aware of their own stress, leading toearly detection of and response to mental health problems. Employees who have undergone stress checks are provided,
according to the results, with learning content that can be used to improve their mental health situation and self-care.
Furthermore, we support mental health care for employees and their families through the establishment of a consultation center
outside the company where employees can receive advice from professionals (clinical psychologists, mental health workers,
and industrial counselors) according to their wishes.

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提携の医療機関やより適した相談機関のご紹介も承ります53

Human Rights

Human Rights Policy

MIRARTH HOLDINGS Group Human Rights Policy
The MIRARTH HOLDINGS Group (hereinafter referred to as "the Group") is committed to solving social issues through its
business activities and working with stakeholders to achieve a sustainable society and growth. This Group Human Rights
Policy (hereinafter referred to as the "Policy") clarifies the Group's approach to human rights in the course of its businessactivities, and as a member of society, the Group respects human rights and conducts its activities in accordance with the
Policy. The Group also expects all stakeholders involved in its business to understand and practice the respect for humanrights in line with the Policy, and to work together to promote the respect for human rights.
1. Respect for International Human Rights Standards
The Group supports and respects human rights as stated in the International Bill of Human Rights (Universal Declaration of Human
Rights and International Covenants on Human Rights) and the ILO Declaration on Fundamental Principles and Rights at Work, andpromotes responsible management based on the UN Guiding Principles on Business and Human Rights and the ten principles of the
UN Global Compact.
The Group understands and complies with all relevant laws in all countries and regions where it operates. In the event that there is a
conflict between the internationally recognized human rights and the laws of the country or region where the Group conducts businessactivities, the Group will seek ways to respect the principles of international human rights.
2. Scope of Application
The Policy applies to all officers, employees, temporary staff, and other personnel (hereinafter referred to as "officers and employees")
who engage in the Group's operations. As a member of society, the Group strongly recognizes the importance of respecting humanrights and provides appropriate education and training to its officers and employees to ensure that the Policy takes root throughout its
business activities.
In addition, the Group expects its customers and business partners to support the Policy and work with the Group to promote therespect for human rights.
3. Key Issues Related to Human Rights
As the challenges to be addressed may change due to social trends and the business environment, the Group will review the key
issues related to human rights as necessary through dialogues and discussions with stakeholders and external experts.
4. Human Rights Due Diligence and Remedy/Correction
The Group establishes a mechanism for human rights due diligence and understands potential or actual negative impacts on humanrights that may arise through its business activities in order to prevent or mitigate them proactively. If its business activities havecaused or contributed to negative impacts on human rights, the Group will take measures for remedy and correction.
5. Dialogue and Discussion with Stakeholders
The Group engages in dialogues and discussions with relevant stakeholders such as employees, local communities, business
partners, and customers to enhance its understanding of human rights issues and to improve and resolve them.
6. Information Disclosure
The Group will disclose its efforts to respect human rights based on the Policy on its website and other appropriate channels.

54

Respect for Human Rights
The MIRARTH HOLDINGS Group acts with respect for the fundamental human rights of all stakeholders, including employees,
while observing laws and regulations, social ethical norms, and matters specified in ethical rules.

55

Customer Satisfaction

Customer Satisfaction Improvement Initiatives
Sales Staff Questionnaire
Takara Leben has been conducting a survey of model room visitors since fiscal year 2019 with the aim of understanding
customers' images of sales staff and the company, and to ensure greater customer satisfaction. In the survey, we received
evaluations on all aspects of the sales staff's response, including whether they were able to make proposals that met
customers' needs, whether their explanations were easy to understand and appropriately timed, and whether they treatedcustomers in a caring and courteous manner.
In FY2022, we introduced a survey response method using iPads and QR code readers, and received over 7,000 customer
comments. The tally results are fed back to each model room every month and shared within the department to be used forcustomer service and creating comfortable spaces. When we received a suggestion to incorporate a design that took into
account the landscape and history of the area, it was promptly communicated internally to the relevant departments and utilized
in the development of condominiums and product planning in the same area.

56Regarding response by sales staff
responsible for making proposals tocustomers
Time required for overall explanation
and allocation of time
Explanations and proposals basedon understanding of customer needs
Promptness of explanations andresponses to customer doubts (concerns)
Amount of information andunderstandability concerning details of
the property and nearby environment
Explanation of financing plans
and life plans
Explanation of management andafter-sales service
Consideration for the customer andthoroughness of responses

FY2021
Dissatisfied

Somewhatdissatisfied

Neithersatisfied nor
dissatisfied

SomewhatsatisfiedSatisfied

1%

3%

9%

25%

62%

0%

1%

6%

25%

68%

0%

1%

6%

22%

71%

0%

1%

6%

26%

67%

0%

1%

17%

25%

57%

0%

1%

17%

26%

56%

0%

1%

4%

17%

78%

FY2022Dissatisfied

Somewhatdissatisfied

Neithersatisfied nor
dissatisfied

SomewhatsatisfiedSatisfied

1%

3%

9%

24%

63%

0%

1%

6%

25%

68%

0%

1%

6%

23%

70%

0%

1%

5%

25%

69%

0%

1%

18%

25%

56%

0%

1%

17%

26%

56%

0%

1%

4%

17%

78%

57

Tenant Survey
Takara Leben Real Estate Investment Corporation conducts surveys of as many tenants as possible as part of its tenant-related
initiatives, and strives to consider and implement measures to improve satisfaction levels. We have received valuable opinionsfrom office and commercial properties (10 properties, 127 tenants), including satisfaction/full scores, desired renewal areas,
and measures against the new coronavirus, which is expected to lead to the maintenance of good communication in the future.
In FY2022, based on feedback from several tenants at the Kawagoe West Building, we held a dialogue with tenants andinstalled a "Pythagora device" in the common area on the first floor as a measure to reduce stress caused by elevator waitingtime. In addition to questions about commuting time and satisfaction with the management of residential properties, we also
received a number of valuable comments that would be helpful for future property management, such as the introduction ofrenewable energy.
We will continue to conduct surveys on a regular basis and share the results with property management companies in an effort
to continuously improve resident satisfaction.

Questionnaire on management operations
Leben Trust, a real estate leasing and management company, conducts surveys of owners of managed properties in order tounderstand their evaluations of and requests for management services and to provide better services. In the survey, we
received evaluations and opinions regarding the overall management services we are entrusted with, including tenant
recruitment, income and expense reports, building maintenance, and the responsiveness of our sales and property managers.
We will continue to provide more attentive services and improve our operations based on the evaluations and feedback we
receive, with the aim of enhancing the value of real estate, which is an important asset for owners.

58

Establishment of Takara Leben Owners Club "DLPS"
To support the realization of comfortable lifestyles, Takara Leben has established the Takara Leben Owner's Club "DLPS",
which provides housing and living services to subscribers of its original condominium brands "LEBEN," "THE LEBEN" and"NEBEL" series, and offers an application exclusively for subscribers.
DLPS is a membership organization that provides a variety of services related to housing and living, and is affiliated withservices for advanced credit card members, including "Owner's Elite," which offers a premium experience, and preferential
access to hotel facilities operated by DLPS, as well as a variety of other housing and living-related services provided by partnercompanies. Through the application, the company is working to increase customer loyalty to the Takara Leben brand byproviding services such as a repair request service for exclusive areas as part of the "10 for all” peace-of-mind service and an
exclusive area repair reserve system using electronic money.

Leben Community’s Community Activities
The Great East Japan Earthquake of 2011 prompted us to reassess the importance of community formation in condominiums.
Leben Community believes that building direct personal relationships with condominium residents as part of everyday life not
only produces greater livability, but also helps prevent crime and fosters greater assistance and support in times of need. This
is why it provides support for the creation of communities of condominium residents.

Resident Get-Togethers
As part of its support for community building, Leben Community holds various events, such as "residents’ get-togethers," which
help residents meet each other for the first time in newly built condominiums, where adults and children can enjoy snacks andgames and make connections as a family. In addition, condominiums with multiple buildings support joint summer festival
events that provide children with summer vacation memories through games and food stalls as well as workshops. As in theprevious year, in fiscal year 2022, we did not hold a residents’ get-together in order to prevent the spread of the new COVID-19
infection.

59

COVID-19 Responses in Community Events
Leben Community, which provides condominium management services, believes that building "face-to-face" relationships
among condominium residents on a regular basis not only makes life easier but also leads to crime prevention on a daily basis
and mutual assistance in times of emergency, and it supports community building among residents through various events. In
fiscal year 2022, we did not hold any events that would attract a large number of residents to prevent the spread of the new
COVID-19, but we did hold seasonal and enjoyable events such as the installation of Tanabata and Christmas decorations thatwould not cause the 3Cs (closed spaces, crowded places, and close-contact settings).

Tenant health and comfort considerations
To improve tenant safety and comfort, Takara Leben Real Estate Investment Corporation is promoting the installation of AEDs,
disaster reserves, emergency supplies in elevators, and digital signage to inform tenants of evacuation routes. We also promotetenant communication by displaying posters promoting stairway use and educating tenants about health promotion.

Health Promotion Awareness Poster

Disseminating information on evacuation routes through digital signage

60

Ethical Action

LEBEN LABO ETHICAL ACTIONLEBEN LABO ETHICAL ACTION is an internal organization established to realize the various suggestions of our customers
under the theme of "Doing more good for society." Based on the corporate vision of "THINK HAPPINESS AND MAKE THE
HAPPINESS," the Group has received many Good Design Awards for its efforts to seriously consider the happiness of people
and their lives. Two projects born of this organization were selected for 2021.

"Solar Power" Project"LUIC" Project"KOJIN BOSAI KIT (Individual Disaster Preparedness Kit)" Project"MOTTO ATTARA IINA (We Wish to Have More)" Project"MOTTO ATTARA IINA (We Wish to Have More)" Project"SOCOPOS" Project"LEBEN CRAFT" Project"Working Point" Project"Good Working" Project"SOCOTAKU" Project"USE OF MODEL ROOMS AND SALES CENTERS AS DISASTER RESPONSE SITES" Project"MODIFIABLE DESIGN CONDOMINIUM COMMON AREA" Project
Art Biotope "Water Garden" Project

IoT home delivery box "THROUGH TAKU" project"LEBEN KEMIGAWAHAMA GRANVARDI" Project61

"USE OF MODEL ROOMS AND SALES CENTERS AS DISASTERRESPONSE SITES" Project
The model rooms created when selling built-for-sale condominiums show customers what completed built-for-salecondominiums will be like and serve as sales negotiation sites. However, they are frequently built for individual condominiums
and torn down after all units are sold. In this project, we outfitted model rooms with supplies and equipment needed in the eventof a disaster water (essential for life), charging facilities for mobile phones, etc., using in-house generators, and the like andopened them to the general public as disaster response sites. Efforts began in fiscal year 2019, and installation was complete
at all model rooms of condominiums sold by Takara Leben. We will actively use our expertise in efforts such as supplying
condominium unit buyers with disaster kits and will expand these sites.

62

"10 for All" Safety Assurance Service and "KIT+" Personal DisasterKits
As part of our efforts to ensure that residences are not supplied as mere "boxes" and to progress from "material wealth" to"qualitative wealth," we have begun providing the "10 for All" safety assurance service and "KIT+" personal disaster kits. "10 for
All" offers customers support so they can live with peace of mind through extended warranties for residential facilities andequipment, 24-hour emergency response and maintenance support for water leaks, key issues, and glass breakage, inspectionsof private areas and repair services, and other services for 10 years after property handover. "KIT+" are not kits of disaster
response goods for entire households, but instead a concept focused on individual needs. They were the winner of a Good
Design Award 2016. Each consists of a compact, A4-sized folder file-like package which individuals supplement with their
specific needs in the event of an emergency, to be kept close at hand at all times.

1
2
3

Residential Facility and Equipment Extended Warranty (10 Years)
Malfunctions and breakage of articles included within the warranty scope are repaired free of charge every time for the entire duration of thewarranty

24-Hour Emergency Response + Maintenance Support
In addition to on-site dispatch and initial response for water leaks, trouble with keys, and glass breakage emergencies, service personnel arealso dispatched to handle problems with fixtures, entry doors, sashes, and the likePrivate Area Inspection + Repair Services (5 Years / 10 Years)
Dedicated staff visit customer residences and perform interviews and inspections, repairing any issues that can be immediately addressed(for 5 or 10 years after property handover)63

IoT Delivery Box "THROUGH TAKU" ProjectWith the expansion of online sales and the use of delivery services, issues related to home delivery, including "redelivery due toabsence," have arisen. THROUGH TAKU, a delivery box built into the entrance of each condominium unit, offers convenience
which is not available in the conventional type of delivery boxes to both residents and delivery persons. Residents can use theirsmartphones to unlock the digital locks and receive the parcels when they are out of the house, eliminating the need for redelivery by the courier company. Furthermore, it is possible to ensure the "non-face-to-face communication" required due to the
COVID-19 pandemic. In addition, the inconvenience of having to carry heavy delivery items to one's residential unit, or nonavailability when all boxes are occupied, as is the case with delivery boxes located in common areas, is eliminated.

Art Biotope "Water Garden" Project
Designed by architect Junya Ishigami, the "Water Garden," created in 2018, is an unprecedented art space with 318 trees and160 biotopes (ponds) of various sizes, arranged according to precise calculations. It received the Good Design Award Best 100
for 2019, and the judges highly praised the unique beauty of the art biotope, which is not a natural biotope, with expressions
such as "the very soul that has been passed down from generation to generation in Japanese gardens."
The "Water Garden" has been introduced in numerous domestic and international media as a special meditation space where
people can sharpen their senses and feel the relationship between humans and nature and has become a spot that attracts
attention from all over the world.

64

LUIC Project, a unique water system
The LUIC project is Takara Leben's original water system that provides access to purified water for all aspects of life. Since its
launch in 2008, it has been used in all of our own-brand condominium series and has changed the lives of many people bychanging the water that is the basis of our daily lives. The LUIC project has continued to evolve while constantly incorporating
new technologies. Currently, the project consists of Takara's Water, which provides access to purified and activated water fromfaucets throughout the house, Takara's Mirabath Vision, which provides cleaning and warming effects of ultra-fine bubbles justby soaking in the bathtub, and Takara's Mirabubble Shower, which conditions skin and hair quality with water containing ultrafine bubbles. The Takara's Mirabath Vision offers a variety of functions such as fluctuating bath and spot care, and is newly
equipped with a micro-ionic function that removes dirt in the bathtub with activated oxygen atoms.

Takara No Mizu
(Takara Water)

Takara No
Mirabath Vision*

Takara No
Mirable Shower* Formerly known as Takara No Microbubble Tornado O2

Cleaning power
Hair
Sebum
Seb
um
impurities
impurities

Hot bath

Microbubbles
MicrobubblesMicrobubbles
wash away dirt
from inside pores

Normal hot water

Hot water
with microbubbles
Representation

Representation

Microbubbles generated
by low-temperatureplasma are used
to break down, sterilize,
and deodorize dirt
and grime in the bathtub* Do not use while in the bath.

The circulation bathuses special nozzles tocreate a pleasantconvection water
current that flows
throughout the bath.

Beforeexperiment

After 15 min.

Representation* In this decoloration experiment, approximately 250 ml was

sampled from an aqueous solution consisting of roughly
1,000 ml of mineral water and roughly 0.2 g of methylene
blue, and microbubbles were generated using Micro Iony for
approximately 15 minutes.

Spot care allows
tornado jets created by
special hose nozzles tobe applied to specificpinpoint areas.

Representation

Representation

Representation* Oxygen ceramics are sold separately.
* Eﬀects and beneﬁts vary among individuals.

65

“LEBEN CRAFT” Project
LEBEN CRAFT is a program that enables urban condominium residents to purchase specialty products from regions where theour group has developed condominiums using a website available only to these residents. Linking residents of city centers with
regional communities contributes to regional revitalization. This initiative by the our group, which not only develops urban areas
but also works on businesses to revitalize regional cities, is unique even among developers. The project has a framework
beneficial for both regional producers and residents of our condominiums all over Japan and received a Good Design Award
2017 in recognition of its merit of improving the added value of condominiums.

Specialty Foods
Seasonal, limited quantities. That is why they are not sold in supermarkets. We search for such ingredients. Our basic idea isthat we want everyone to have a healthy life. We carefully select foods that are safe and can be enjoyed by both adults andchildren.

Information
By sharing with you information on production sites, producers, and products that LEBEN CRAFT has uncovered, and by
rediscovering new strengths and attractions in Japan, we hope to help you create a rich lifestyle.

Experience
Visit producers you have met at events to meet them in person. Experience harvesting and try eating freshly picked food.
Breathe in the country air and discover a second hometown. We envision a trip like never before.

Markets
LEBEN CRAFT Premium Marché is held to sell excellent products from all over Japan. In addition to creating opportunities forcommunication with participating producers, more features will also be held.

66

LEBEN CRAFT Structure67

B u i l d i n g Va l u e

Quality & Comfort
Initiative to Improve Quality Through Obtaining ISO 9001
Certification
With the aim of improving quality to comprehensively support the creation of comfortable living environments for customers,
Leben Home Build and Leben Community have established a quality management system in accordance with ISO 9001, theinternational standard for quality management systems established by the International Organization for Standardization, andhave obtained certification.
We regularly monitor and improve our management processes and revise our policies and goals as necessary to continue toprovide even higher quality services.

Details of Leben Home Build's Initiatives
On-site constructionin progress

Quality and process control
Regular construction safety patrols

Conduct periodic building inspections
After delivery of theproperty

Establishment of after-sales service system
Proposals for large-scale repairs, etc.

Details of Leben Community’s Initiative
Administrative management
Comprehensive
condominium
management

Association accounting
Management and repair of buildings and equipment
Management staff operations

Condominium repair
work

Repair of condominium common areas

68Service Quality
Service Quality Management System (SQMS®)
Leben Community ensures quality using our unique service quality management system (SQMS®) to continue managing ourcustomers’ important assets over the long term. SQMS® applies ISO 9001, an international standard for quality management
systems, to condominium management. It sees condominium management as consisting of four support services (sitemanagement, financial management, asset management, and operations management) and applies the PDCA cycle to each tocontinuously improve quality.
Specific actions include providing feedback to the relevant departments on the opinions of condominium management
association members, collected through questionnaires, which leads to improvements in the quality of a wide range of services.

SQMS® Process Chart (Service Quality Management)

Management andplanning design basedon customer needs
Management outsourcing
agreements

Plan

Do

Quality plan proposal

Service provision activities

Quality standards

Provision of services inaccordance with quality
standards

Service quality plan design(quality plan) based the
management plan

Condominium
management
outsourcing services

SQMS ®
Cycle
Act

Check

Improvement Activities

Collection, analysis &evaluation activities● Continuous improvement

Collection● Corrective action● Preventive action

Analysis
Evaluation69

Quality Philosophy and Policy

Quality philosophy
We hereby declare and state our quality management philosophy to be "Creating a safe and comfortable living
environment" in the spirit of "walk the talk."
We will adopt the quality management system advocated by ISO9001 and pursue customer satisfaction and social
contribution in our condominium management business under the motto of "speed, dependability, and sincerity" for all our
employees.

Quality policy
We have established the following quality policy so that we can continue to provide "speed, dependability, and sincerity"
services to our customers
1. We will pursue our own existence value to become an indispensable presence for our customers.
2. We will provide high-quality and reliable services based on our quality standards.
3. We will continuously pursue quality improvement for perennial customer satisfaction.
4. We will clarify objectives and targets, and embody the spirit of "walk the talk."
5. We will comply with all applicable laws, regulations, norms, rules, etc. and aim to be a corporate citizen trusted by society.

Management StructureManagement Policy Maker

Quality Management Officer

Internal Audit Manager

SQMS
Secretariat

Financial
Management
Underwriting
Operation

UnderwritingOperation
Contract Management
Operations Management

Site
Management

SQMS Master

Asset
Management(Various
inspections)

Asset
Asset
Purchasing
Management
Management
Operation(Supervision of (Supervision ofmaintenancemaintenance Subcontracting
Management
work design)
work)

Asset
Management
Division
Asset

Maintenance
Planning
Division

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)In-house
Facility
Management

BM Contract
Management

Construction
Management
Division

Purchasing
General Affairs
andandSubcontracting Administration
Management
Division
Division

Building
Management
Division

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)

Operations Management Division

Quality Management Officer (Deputy)

Financial
Management
Division

Site
Management
Division

Headquarters
Operations
Management
Division
Business
Management
SectionQuality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)

Yokohama
Branch Office
Operations
Management
Division
Business
Management
SectionOmiya
Branch Office
Operations
Management
Division
Business
Management
SectionLarge-Scale
Project
Promotion
Division

Consignment
Promotion
Sales
Division

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)

Quality
Management
Officer(Deputy)70

Quality
Management
Officer(Deputy)Quality-Related Education and Training
Leben Community is committed to developing human resources who understand and practice SQMS®. We conduct SQMS®
Basic Concepts Training for younger personnel to help them understand the basic concepts and features of SQMS®. In
addition, in order to promote SQMS® internally and externally, employees who have gained extensive practical experience andare familiar with the SQMS® concept, quality standards, process control, etc. are given the SQMS® emblem and certified as
SQMS® Masters. This program was launched in FY 2018 and 13 people have been certified so far.
In FY2022, the scope of SQMS® training was expanded to include employees of branch offices and sales offices, such as the
Shikoku Branch Office, to further promote SQMS® in the company.

Front Man Training
Front men require extensive knowledge as professionals that support the operation of management associations. In order toimprove the quality of service they provide, we regularly administer training to all front men. The goal is to provide front men
with the skills they require to carry out their duties, through training such as debt recovery operation training led by an attorney,
SQMS®-based operation mentality training, and building and equipment training.

71Condominium Management Staff Training
Condominium management staff are responsible for reception, inspections, cleaning, consultation, and other duties. To maintaincomfortable condominium living environments, they must not only be able to execute their duties appropriately, but also to do sowith a smile on their face, speak politely, and take care of their personal appearance. By providing them with feedback fromresidents about their day-to-day job performance, conducting regular management staff training, and periodically testing theirunderstanding of training content, we work to thoroughly improve the quality of service they provide.
In fiscal year 2022, given the spread of Covid-19, training sessions were held in small groups in regional cities, although faceto-face education, which is difficult to convey through written communication alone, was resumed, albeit gradually.

Information Shared on Near-miss Incidents
One measure we employ to maintain and enhance service quality is sharing information on near-miss incidents relating tocondominium management. We use the Management Staff News, which is distributed periodically, to inform all staff members
about incidents that almost led to quality-related accidents.
In addition, during company-wide service quality training, we present information on incidents which did not comply withstandards occurring in the previous fiscal year and details of the responses, and this has been useful in reducing quality-related
incidents.
In fiscal year 2022, we worked to protect our customers’ information through focused information dissemination regarding thehandling of personal and confidential information.

SUUMO Award
In the "SUUMO AWARD 2022*" selected by buyers, Leben Community received an "Award of
Excellence" in the category of condominium management companies (with less than 100 units
in the Tokyo metropolitan area) in the category of repair services, as a company that received
high evaluation for its daily repair proposals and its convincing long-term repair plans and costestimates. The company received the "Award of Excellence" in the category of repair handlingin the category of condominium management companies (in the Tokyo metropolitan area, withfewer than 100 units).
* SUUMO AWARD 2022:
Ranking based on satisfaction with condominium developers, condominium sales companies and managementcompanies from various perspectives, including quality, price and initiatives, made through a survey of people whopurchased new condominiums in the Tokyo metropolitan area (Tokyo, Kanagawa, Saitama, Chiba, and Ibaraki
prefectures).

72

Safety Management

Pursuit of Safety and Security
Thorough Process Inspections
To provide housing where people can live for a long time with peace of mind, the
MIRARTH HOLDINGS Group conducts stringent checks at the construction stage.
We put great effort into ensuring thorough quality management, with our staff
regularly visiting construction sites to inspect building structures and conduct
checks within the construction process of hidden areas, foundations, and finishing.

(Image)Obtaining Housing Performance Evaluation Reports
Takara Leben obtains housing performance evaluation reports from third parties designated by the Minister of Land,
Infrastructure, Transport, and Tourism to provide customers with greater peace of mind regarding their residences. To obtainthese reports, we acquire performance evaluations at each stage of design on topics including earthquake- and fire-resistance,
degradation resistance, energy consumption, and ease of maintenance. Five or more on-site inspections are carried out during
construction, and a rigorous performance evaluation must be passed at the time of completion.

Housing construction
performance evaluation(to be acquired uponcompletion)
Housing construction
performance evaluation report(to be acquired for all units)

Acquisition of housing
performance evaluation report

Issuing of housing construction
performance evaluation report

Inspection
completion certificate(5) Upon completion of
construction work

(4) Upon completion ofroofing work

(3) Upon completion ofwork performed immediately
before installation of interior
foundations(2) Upon completion of
second floor rebar work

Five or more on-site inspections are performed.
(The number of inspections varies
depending on the number of floors.)(1) Upon completion offoundation rebar work
(before pouring concrete)

Design performance
evaluation report(acquired for all units)

Determination of
inspection personnel

Creation of construction
evaluation application(Copy of verification completion
certificate attached)

Application for housing
construction performance
evaluation

Application diagram
screening

Conclusion of agreement
regarding contracting of design
performance evaluation report
reception, etc.

Issuing of housing design
performance evaluation report

Application for housing design
performance evaluation

Designated housing performance
evaluation organization

Creation ofdesignevaluation
application

Structural Stability

Degradation Reduction

Maintenance, Management,
and Renovation

Thermal Environment /Energy Consumption

Evaluation of the building’s resistanceto earthquakes, wind, snow
accumulation on the roof, etc.

Evaluation of measures used to
improve durability, maintaining initialstrength for as long as possible.

Evaluation of the ease with which
maintenance can be performed forplumbing, gas pipes, hot water pipes(inspection, cleaning, repair, etc.).

Evaluation of degree of energy saving
contributions produced by materials
and construction methods used to
improve insulation performance.

Seismic grade (prevention ofbuilding structure collapse, etc.)
Other (prevention of building
structure collapse or damage in theevent of an earthquake)
Subsoil or pile load tolerance andinstallation method
Foundation structure method andform, etc.

Degradation measure grade(building structure, etc.)

Maintenance and management
measure grade (dedicated pipework)
Maintenance and management
measure grade (common pipework)
Renovation measures (common
drainage pipes)

73

Insulation performance grade
Primary energy consumption gradeEarthquake- and Fire-Resistant Structures
Earthquake-resistant construction
In the construction of condominiums, we improve earthquake resistance by adopting the most appropriate construction method
for the characteristics of the subsoil and its capacity to support the foundation. This includes the use of pile foundations, wherestrong piles are directly driven into the ground to the supporting layer, spread footing foundations, which provide support
directly using firm subsoil, and seismic isolators, which disperse earthquake energy and dampen extreme, long-period buildingswaying.
In the construction of detached housing, we adopt wood-frame construction, which affords a high degree of design freedom andflexibility when adding to or renovating a structure in the future, together with a panel construction method that offers highdurability and safety as well as good earthquake and fire resistance. We also employ as a standard feature a mat foundation
method whereby a steel-reinforced concrete slab is laid underneath the entire wood floor to support the building, establishing astrong foundation using a high-earthquake-resistance and high-durability construction method.

Exceptional Fire-Resistant Structures and Soundproofing Performance
We use highly disaster-resistant materials in the construction of condominiums. Standards for fire resistance and soundinsulation performance are set by law, and the concrete thickness of the unit boundary walls (walls separating dwelling units
from each other), for which fire resistance and sound insulation performance are strongly required, is secured at approximately
180mm. In addition, fire and sound insulation measures are adopted for the piping in the pipe space facing the living room.

Selection of optimal structure and equipment
Not only the interior design, such as floors, doors, and plumbing, but also the interior structure of the building, such as ceilingsand piping sections in pipe spaces, is customized for each property to suit the land and the customers who live there,combining the most suitable structure and equipment.

Optimal equipment for each property

Specification
ExamplesConcrete slab
Double ceiling

Supportmaterial

Plasterboard
Drain pipeSoundproofing
sheetInterior
space
Particle board
Flooring
Flooring
material

Water supply anddrainage pipes

Double floor
Concrete slab
Plasterboard

Plasterboard

Piping within pipe spaces

Double floor & double ceiling(Conceptual diagram)

74

Accident Prevention Measures
The MIRARTH HOLDINGS Group is working to prevent occupational accidents at workplaces and construction sites.

Health and Safety Patrols
Leben Home Build, which is responsible for condominium construction and other work, is working to achieve safer construction
sites through safety and health patrols at least once a month. We check the implementation status of safety and healthmanagement, such as monthly and daily inspections and the assignment of qualified personnel, as well as raise safety
awareness through safety instructions and other measures.
In addition, once a quarter, a joint special patrol is conducted by top management and partner companies. In July 2022, in
conjunction with National Safety Week*, we visited four construction sites with representatives from eight partner companies tocheck actual construction sites and work conditions from the perspectives of daily management, on-site maintenance, accident
prevention, fall prevention, and machine accident prevention, and to encourage the implementation of measures.
* National Safety Week
An initiative of the Ministry of Health, Labor, and Welfare and the Japan Industrial Safety and Health Association to promote voluntary industrial accident prevention
activities, raise safety awareness, and establish safety activities in the industrial sector.

Safety Conferences
The Group holds safety conventions to further promote safety and health management and to increase the knowledge andawareness of safety and health among construction site workers.
Leben Home Build held a safety convention in July 2022, bringing together all directors, employees, and subcontractors inconjunction with National Safety Week. Furthermore, during National Safety Week, the company's offices and worksites work
closely together to strengthen safety and health management activities, including measures to prevent the three major types ofaccidents (crashes and falls, construction machinery and crane accidents, and collapse and collapse accidents).
In addition, Leben Community held a safety convention in October 2022 with the participation of 42 partner companies andpresented awards to five partner companies that were particularly outstanding in their daily safety measures and six employees
who worked with a high level of safety awareness.

Leben Home Build Safety Convention

Leben Community Safety Convention75

Safety Instruction for Subcontractors
Leben Community, which handles repair work on condominiums, works with partner contractors to carry out work safely andwith minimal impact on residents’ lives. When a large-scale repair project is approved at a condominium management
association meeting, the company’s repair planning staff, construction supervisors, and members of a managers’ committee
consisting of key construction workers gather at the site to check and review in detail the scaffolding, placement of temporary
facilities (offices, restrooms, security doors, etc.), and safety measures before work begins.

76Disaster Response

Safety and Health Management
Crisis Management Structures in Leben Community
Leben Community has established solid crisis management structures to protect the safety and peace of mind of condominium
residents.

Safety Management
Remote monitoring systems promptly alert a security company via telephone lines in the event of any abnormality incondominium facilities. If necessary, security personnel respond immediately. Through its inspections and staff training, Leben
Community has established a system for responding appropriately in the event of an elevator, firefighting equipment, or otheremergency.

Responses to a Large-Scale Disaster
Following the occurrence of the Great East Japan Earthquake in March 2011, an emergency earthquake countermeasures
headquarters was immediately established, and initial measures were promptly taken. During disaster recovery construction, we
provided support from the perspectives of a management association, led by our commitment to speed, dependability, andsincerity and based on the expertise and skills we have developed through our equipment and repair experience.

77

Crisis Responses in Large Buildings
Leben Community implements Covid-19 infection prevention measures at large condominiums in each region based on its many
years of experience.
In fiscal year 2020, at the Park City Mizonokuchi condominium in Kawasaki City, Kanagawa Prefecture, which has about 1,100
households, Leben Community cooperated with the management association, community association, and a disaster control
center to implement systematic crisis response measures to conduct comprehensive infection prevention measures and prepare
for the occurrence of infections. Specific measures included morning and afternoon disinfection of items that are frequently
touched by residents, such as elevator buttons, handrails, intercom panels, and doorknobs, and other rigorous infection
countermeasures. Leben Community also urged residents to take preventive measures within their individual residences (suchas ensuring adequate ventilation and limiting going out for non-essential purposes) and to exercise caution while on thecondominium grounds (such as wearing a mask, refraining from speaking while in elevators, and adopting trash disposal
methods that reduce the risk of infection).
Leben Community encouraged residents to take appropriate action by providing easy access to information needed if theysuspected they were infected or became infected. It also produced the Infection Prevention News, a newsletter compilinginformation on these infection prevention measures, and distributed it to residents. In addition to infection countermeasures, thenewsletter contained contact information for public agencies, information about on-site specialized infectious disease clinics
and nearby restaurants that provide takeout and delivery services, warnings about tax refund fraud, and more, providing wideranging support for life during the Covid-19 pandemic.

78

Disaster Response
Disaster Preparedness Drills
Leben Community supports the safety and security of the community of residents in condominiums. It is not easy for residents,
including the elderly and children, to properly use fire-fighting equipment in their condominiums or to evacuate quickly throughthe correct evacuation route in case of emergency. The company conducts disaster drills in cooperation with the management
association as part of its safety measures.
In the disaster drill held in November 2022, the number of participants was limited from the viewpoint of preventing newcoronavirus infection. The drill included evacuation drills along actual evacuation routes, practical guidance by an AED rental
company and an automatic fire alarm system maintenance and inspection company, and fire extinguishing drills using fire
extinguishers by all participants.

Hands-on instruction on AED equipment

Firefighting training using fire extinguishers

HOTEL THE LEBEN OSAKA "Disaster Prevention Experience Mission Plan"
Since the Great Hanshin-Awaji Earthquake, the Great East Japan Earthquake, and other major disasters, awareness of disasterprevention has continued to increase each time. At HOTEL THE LEBEN OSAKA (opening in March 2022), the Group's first hotel
brand, Takara Leben is developing the "Disaster Prevention Experience Mission Plan" to provide an opportunity for families tolearn about and discuss disaster prevention together. The plan provides guests with a simulated experience of a disaster byhaving them spend a day in an inconvenient guest room with no lighting, use disaster prevention goods, and eat preserved
food. In the guest rooms, a booklet entitled "Disaster Prevention Mission 7: Let's Make Disaster Prevention Rules for Our
Home" is available, and by completing the seven missions, such as "Decide on an evacuation site to meet" and "Think about
disaster prevention goods for the family,” their own disaster prevention rule book will be completed, which can be taken homeand put to use. We plan to actively contribute to local disaster prevention and disaster education for children by distributing thebooklet and inviting students to participate in the Disaster Prevention Experience Mission Plan at public institutions and schools
in the neighborhood.

HOTEL THE LEBEN OSAKA

79

Electric Power Supply in Times of Disaster
Conclusion of an Agreement on the Supply of Electric Power in the
Event of a Disaster
Leben Clean Energy is developing renewable energy power sources, mainly small- and medium-scale solar power plants, and isalso working with each community to ensure safety in the event of a disaster and strengthen disaster preparedness. In order tofurther strengthen cooperation with the local community and further enhance our disaster response capabilities, we concluded
agreements with Mori-machi, Kayabe-gun, Hokkaido in October 2021 and with Atsugishi-cho, Atsugishi-gun, Hokkaido in April
2022 regarding the supply of electricity in the event of a disaster.
By further improving our disaster response capabilities, we will continue our efforts to quickly stabilize people's lives in theevent of a disaster, as well as to ensure a stable supply of electric power and improve resilience.

80

Contribution to Disaster Areas
Dispatch of Registered Non-Life Insurance Appraisers to DisasterAreas
In cooperation with major insurance companies, Leben Community dispatched two appraisers from the Company to conduct a
total of 289 damage appraisals over a five-month period from April to August 2022 in the Fukushima and Miyagi prefectureareas damaged by the 2022 Fukushima Prefecture earthquake.
No other condominium management company has an appraiser on staff to perform damage appraisal and damage restoration
work at the request of insurance companies, making this the first such initiative in the industry. A letter of appreciation waspresented by a major insurance company on March 6, 2023, in recognition of the company's significant contribution to theprompt payment of insurance claims to disaster victims.
The company will continue to expand its business domain beyond condominium management by providing damage appraisaland damage restoration work at the request of insurance companies.

Number of Appraisals Conducted
April 2022

79 appraisals conducted

May 2022

52 appraisals conducted

June 2022

56 appraisals conducted

July 2022

56 appraisals conducted

August 2022

46 appraisals conductedTotal

289 appraisals conductedAppraisal Implementation Statistics (2022)

81Diverse Lifestyles

Proposals for Diverse Lifestyle Needs
Idea Competition "Personal Innovation Challenge Pic"
Personal Innovation Challenge Pic is a new business proposal system aimed at fostering entrepreneurship and building a
corporate structure that creates new common sense under the slogan "A New Common Sense Begins." The number of entries
for FY2022 was more than 350. Ideas that passed the preliminary screening improved their ideas while participating in
mentoring and various training programs, and then went on to the second and final round of presentations in front of the board
members. If the profitability and marketability of the idea are recognized and commercialization is decided, the originator canchoose to "go independent as a business company," "be appointed as the head of a new department," or "transfer the idea to acompany."82

Urban-type Compact Condominiums "NEBEL"MIRARTH HOLDINGS Group proposes services that meet diversifying lifestyle needs.
In recent years, the demand for housing has changed with the increase in the number of dual-earner households and singleperson households, and there is a growing need for properties that are more convenient, such as those in the city center orclose to train stations, rather than larger in size. In response to these lifestyle changes, Takara Leben offers the "NEBEL" seriesof compact urban condominiums for singles and DINKs (double income no kids).
This series is an urban compact condominium brand that captures the diversified lifestyles of people by maximizing the
manufacturing know-how we have cultivated in our new condominium business to date. The quality of design, specifications,and facilities of the family condominiums that we currently supply is retained in these compact condominiums, and the "NEBEL"
series is being developed in various locations in Tokyo, Saitama, Kanagawa, Sendai, and other areas. We will continue toprovide properties that meet the needs of society, such as modern lifestyles, to further support our customers' fulfilling
lifestyles.

NEBEL SOKA ART PHILOSNEBEL AKABANENEBEL SENDAI Plaisir

NEBEL YOKOHAMA

83

Adapting to New Lifestyles
Non-Touch Keys and Non-Contact Elevators
At LEBEN YOKOHAMA YAMATE ONE WARD COURT (Kanagawa Prefecture), a property completed in February 2023 tocommemorate the 50th anniversary of the founding of the Takara Leben Group*, facilities that take into consideration thelifestyle of the New Normal, provide security and safety for residents. When residents enter the building from the outside, they
can unlock the auto-locking door without touching it by simply passing the dimple key (with built-in IC chip) of their unit
entrance over the sensor at the common entrance. Elevators are also equipped with a function that allows users to operate floor
buttons simply by holding their hands over them.
* Developed to commemorate the 50th anniversary of the company's founding (September 21, 2022), the property is positioned to "contribute to the infrastructure of thelocal community with a location that could become a new landmark, such as a historical or historic site or a rare location."

Renovation in Accordance with the Times and the Region
Leben Zestock offers quality pre-owned condominiums that meet the needs of diversifying lifestyles. We buy usedcondominiums that are being leased, and after the tenants move out, we renovate them to specifications that match the times
and the local area, transforming them into attractive condominiums. We have succeeded the "LEBEN" brand of newly built
condominiums, which combine high design quality and comfort of living, and have achieved an unprecedented level of renewal
condominiums.

84

Choice of Leaseback Plans
Leben Zestock offers a "leaseback" service that allows people to continue living in their current home after the sale. We alsooffer three options to meet diversifying needs: "Omakase Leaseback," which disposes of unneeded furniture and bulky trash;"Mimamori Leaseback," which periodically checks the safety of elderly persons aged 65 or older; and "Ultra Short-term
Leaseback," which allows tenants to live in the property while only paying running costs such as property management fees andrepair reserve fund.

85

Globalization

Overseas Development
MIRARTH HOLDINGS Group will continue to contribute to the creation of a better living environment overseas, focusing on the
new condominium business, without limiting its business development to Vietnam and Thailand.

THE MINATO RESIDENCE Project
Takara Leben is committed to contributing to regional revitalization and urban development through housing not only in Japanbut also overseas. THE MINATO RESIDENCE is the first large-scale condominium development project (site area: 12,760㎡, 26
floors above ground, 924 units) in Haiphong, Vietnam's third largest city by population, to be developed, constructed andmanaged entirely by a Japanese company. In December 2021, the first building, the south wing, was completed as acondominium complex with commercial facilities in Water Front City, a new urban area that is expected to see further economic
growth and commercial development in the future. In March 2023, we commenced sales of the second building, the North
Building.

THE MINATO RESIDENCE

86

Renovation Business in Vietnam
In December 2021, Takara Leben and Leben Community partnered with Halato Joint Stock Company (Halato), a company withextensive experience in Ho Chi Minh City, Vietnam, to participate in renovation projects. Although Ho Chi Minh City has seen
many large-scale mixed-use developments and the central area has been locally modernized, aging buildings are scatteredthroughout the city, including those one step away from the main streets and outside the central area, causing a mismatch inreal estate uses and hindering the development of the area as a whole. By combining the real estate development technologythat our Group has cultivated in Japan with Halato’s expertise and experience, we will contribute to urban development in Ho
Chi Minh City by renovating aging buildings into more valuable real estate.

"ATMOZ MINBURI" Condominium Project
From January 2022, Takara Leben, together with ASSETWISE PUBLIC COMPANY LIMITED (ASSETWISE), has participated inthe "Atmoz Flow Minburi" condominium project, the third such project in Bangkok, Thailand. ASSETWISE is a developer withnumerous development projects in the area, offering high quality and sophisticated design products.
This project is a newly built condominium for sale in Mimburi District, located approximately 20 km northeast of central Bangkok(site area: 9,652 ㎡, total 739 units in three 8-story reinforced concrete buildings), and is the third new condominium
development project in Bangkok, Thailand, following "Atmoz Bangna" and "Kave Seed Kaset", which are joint projects withASSETWISE.
The area where this project is located is convenient for transportation, being about a 4-minute walk from the Mimburi Market
Station on the new Pink Line, which is scheduled to open in 2023, and is surrounded by several industrial parks, hospitals,
shopping malls, and other facilities.
In addition, ASSETWISE is currently developing "Wise Park," a mixed-use commercial and residential development project thataims to create a community where all generations, young and old, can build a comfortable lifestyle based on the concepts of"health promotion" and "sustainability."In the future, "Wise Park" will be developed with the "Atmoz" series of this project, new condominiums for sale in four phases,
and a new shopping mall scheduled for completion in December 2023.

ATMOZ BANGNA

87

Aging Society

For Senior Health"My Reha" Day Care Service Specializing in Rehabilitation
My Reha, operated by Leben Community, is a daycare service specializing in rehabilitation, helping support seniors’
independence through easy and fun physical training. This service has been offered in Saitama Prefecture and Chiba
Prefecture since 2011, through facilities rooted in the community, to those certified as requiring support or nursing care. As
Japan’s society continues to age and the number of people worried about their health in their senior years grows, My Reha
focuses on what happiness means for its users and what My Reha can do for them. It uses unique programs, including Redcord
exercises*, to help extend users’ healthy lifespans. In October 2019, the fifth My Reha location, My Reha Misato Rehabilitation
Center, was opened in Saitama Prefecture’s Misato City. At present, we operate five rehabilitation centres in the prefectures of
Saitama and Chiba.
* Redcord exercises are training exercises developed in Norway, a rehabilitation pioneer, that uses a red cord suspended from the ceiling.

88City Development

Community Revitalization
Urban Redevelopment of Machikatamachi and Toriyokocho District
1, Numazu City, Shizuoka Prefecture
On November 16, Takara Leben, together with Fujita, formed a joint venture with the Urban Redevelopment Association of
Machikatamachi and Toriyokocho District 1, Numazu City, Shizuoka Prefecture, and signed a basic agreement with theassociation as a specified business agent.
This project aims to redevelop a part of the arcade of famous stores, which was established in 1954 as Japan's first shopping
arcade with fireproof and communal architectural style, and to redevelop the central city area through the redevelopment.
Demolition and site preparation work is scheduled to begin in 2024, with completion of 100 residential units with 10 floors above
ground and one below by August 2027, as well as retail space.
The MIRARTH HOLDINGS Group is committed to solving various urban issues, improving functionality and livability, realizing
safe, secure, and attractive urban development, and working in partnership with land and building owners, rights holders, andthe government, utilizing various urban development methods, etc., in a three-party approach to urban renewal.

89Redevelopment Plan for Former Department Store Site
Takara Leben has acquired land centered on the Okajima Department Store, which has been operating in the downtown area ofKofu City, Yamanashi Prefecture, since 1843, and will develop a complex consisting of tower residences, commercial facilities
and a self-propelled parking lot, the third development in the city.
The facility is planned to include a tower residence, the largest of its kind in the prefecture, as well as next-generationcommercial facilities that inherit the DNA of Okajima, a plaza capable of hosting events, and a self-propelled parking lot. The
project aims to increase the number of downtown area residents, including those moving from the city center, and to attract
visitors to the central city area, and to serve as a starting point for the circulation of residents and visitors, as well as to develop
the central city area in a way that leads to the revitalization of its liveliness.

Aqua Ignis Awaji Island
Takara Leben and Takara Asset Management are participating in the Aqua Ignis Awaji Island (Awaji City, Hyogo Prefecture)project, a natural hot spring resort complex. This facility is the first national park Park-PFI* project approved in Japan.
We believe that this project will contribute to regional revitalization and increase the value of the region as a new business
scheme in cooperation with not only local governments but also other industries. Takara Leben and Takara Asset Management
decided to invest in the project because it is located at the northern end of Awaji Island, with excellent access from the Kansai
region; it is a destination on Awaji Island, which had been a transit point; and it has the same potential as Aqua Ignis and
VISON in Mie Prefecture, where Aqua Ignis already operates.
We will continue to work hand in hand with national parks, as we did in this project, to find better ways of public-private
partnerships, as we strive to develop the tourism industry on Awaji Island and revitalize the region.
*Park-PFI: Park-Private Finance Initiative. A new method of developing and managing urban parks that utilizes the funds and expertise of private companies throughpublic solicitation.

90

Community-Based Shopping Center "tonarie"
MIRARTH HOLDINGS has jointly developed the community-based shopping center "tonarie Hoshida" (Katano City, Osaka
Prefecture) with ES-CON JAPAN.
The neighborhood is within the area of the Hoshida Station North Land Readjustment Project (total area: approx. 26.4 ha),where new developments such as condominiums, detached houses, medical facilities, and parks are underway, and further
development is expected in the future. The said commercial facility is conveniently located in front of Hoshida station in thisarea. As a community-based commercial facility with tenants such as supermarkets, drugstores, 100 yen stores, and a medicalmall, we aim to contribute to the development of the area and be loved by the community.
We will contribute to community building and local revitalization by leveraging the commercial facility development andmanagement know-how that we and the ES-CON JAPAN Group have cultivated over the years.

Minamikoiwa 6-chome District Type 1 Urban Redevelopment Project
Several large-scale redevelopment projects are currently underway in the area surrounding Koiwa Station on the JR Sobu Line,
which has been in operation for more than 100 years.
Koiwa Station Area Management Organization (KOITTO*) was established as an organization for landowners, developers,
residents, users, and others to work together to enliven the new Koiwa area to be reborn through redevelopment. MIRARTHHOLDINGS, which is participating in the Minami Koiwa 6-chome Area Type 1 Urban Area Redevelopment Project, is a special
supporting member of KOITTO.
KOITTO is engaged in (1) promotion of projects and events that promote regional cooperation and collaboration, (2) operation
and utilization of the KOITTO TERRACE area management base, (3) area branding activities in the Koiwa Station area, and (4)consideration of public space utilization in line with the progress of redevelopment.
The area management base KOITTO TERRACE has been established in FIRSTA I in Block I of the redevelopment project,which was completed prior to the project, to promote area management around Koiwa Station.
*KOITTO: A general incorporated association established in November 2020 to engage in area management in the Koiwa Station area; designated as an Urban
Revitalization Corporation* on March 29, 2022.
* Urban Revitalization Corporation: Designated by the municipality under the Act on Special Measures for Urban Revitalization as a core organization for community
development in the land area where public utility facilities necessary for urban revitalization should be intensively developed, etc.

Area management base KOITTO TERRACE

Marche at the FIRSTA II plaza space91

Participation in the THREE Excellent Building Development Projectin the Shinmachi 1-Chome District of Aomori City
Takara Leben has participated in THREE, a project for the development of superior buildings in the Shinmachi 1-chome districtof Aomori City (former site of the Aomori head office of the Nakasan Department Store) promoted by Shinmachi Machidukuri
Corporation and Mik Corporation.
Opened in April 2023, THREE is a 14-story facility that integrates "clothing and medicine," "food," and "housing," and is a tower
residence consisting of commercial facilities on the first through fourth floors and a total of 85 residential units on the fifth floor
and above. The company contributes to the revitalization of the central city area of Aomori City by acquiring the reserved
residential floors of THREE and taking on the residential subdivision business. The lower level has a clinic mall and restaurant
area, and the first floor of the parking building (Annex building), which is connected by a corridor, houses a grocery
supermarket (Marche), making it possible to live with less burden of snow even in an area with heavy snowfall. This is a newproposal for the revitalization of department stores in regional cities.

Excellent Building Development Project of East Area in Front of
Takaoka Station
Takaoka City, the second largest city in Toyama Prefecture, is actively engaged in redevelopment projects around Takaoka
Station with the aim of creating a vibrant and bustling city.
In 2015, Takara Leben participated in an integrated commercial, public utility, and residential development project in the"Suehiro West Area Living and Nigiwai Revitalization Project" in the city center and developed the "LEBEN TAKAOKA MID RISE
TOWER" (16 stories above ground), a high-rise residence that will become a new symbol of the city and bring people back tolive in the center.
In addition, the "Excellent Building Development Project* of East Area in Front of Takaoka Station," which is currently attracting
much anticipation and attention among citizens, aims to create a lively atmosphere in front of the station and high-quality towncenter living. As the executor of this project, Takara Leben is working together with related rights holders to promote it.
* Excellent Building Development Project: A program of the Ministry of Land, Infrastructure, Transport, and Tourism to improve the environment of urban areas andsupply good urban housing, etc. with the aim of developing quality buildings, etc. that contribute to the joint use and upgrading of land use, etc.

92Community Revitalization Initiatives
The Group promotes regional development through its business and is actively involved in community revitalization andcommunity development activities in the areas where it supplies properties.

Takaoka Craft Market Street 2022
Since 2021, Takara Leben has participated in the Craft Market Street project, which promotes the attractions of Takaoka City,
Toyama Prefecture, a city of traditional crafts and manufacturing that has continued for more than 400 years, with the keywordof "craftsmanship." In September 2022, Model No Komono & Marche was held at the ANNEX building of LEBEN TAKAOKA MID
RISE TOWER.
The Model-No-Komono program is an initiative to support sustainable living by creating a system to reuse (sell at special
prices) interior goods and other items used in the company's model rooms.
In addition to the exhibition and sale of local traditional crafts, the popular Yamagata specialty "imoni" (stewed potatoes) andorganic agricultural products were also sold at the Marche.On the day of the event, the company's employees also participatedas staff members, making it a very successful three-day event.

Japan Sea Takaoka Nabe Festival
Takara Leben has participated since 2019 in the Japan Sea Takaoka Nabe Festival, a big event representing Takaoka in winter,
where people enjoy nabe dishes full of fresh ingredients. In collaboration with the landowners of LEBEN TAKAOKA MID RISE
TOWER, the company co-hosted the 37th Japan Sea Takaoka Nabe Festival and Suehiro Marche in January 2023, and 14
employees from the company participated in the event as event staff. Imoni, a Yamagata specialty, was a big hit, selling over
900 servings, much to the delight of the local community. We hope to steadily link this initiative to support the reconstruction of
Takaoka City's downtown area.

93Premium Markets
As part of the Leben Craft project, Takara Leben offers a "Premium Market" where residents of Takara Leben condominiums andthe surrounding area can pick up a variety of local delicacies and experience the high quality of the products.
The project is intended to play a part in regional development and to share the excitement with many people through the special
things we have encountered in the development of condominiums in various parts of Japan.
In FY2022, the Takaoka Craft Market Street and the 37th Japan Sea Takaoka Nabe Festival were held under the titles of"Marche" and "Suehiro Marche," respectively, to promote interaction between the producers of agricultural products and crafts
and the visitors to the Marche.

Akabane Noryo Festa 2022
Takara Leben has participated in the Akabane Noryo Festa since 2018 to contribute to the community development of Akabane.
In 2022, the first time the festival was held in three years, 17 employees from the company participated as staff members,
selling giant sausages and drinks in addition to the customary ice cream.
The venue was crowded mainly with local families, and Bon Odori dance and Hula dance were also performed. The company's
food stall products were all sold out before the event's closing time, making it a very successful two-day event.
We will continue to contribute to the revitalization of the community by interacting with local residents as part of our step-bystep participation in community development in Akabane.

94

Social Contribution

Donation to General Incorporated Association, Power for Tomorrow
Takara Asset Management makes donations to the General Incorporated Association, Power for Tomorrow.
The organization supports adults who take on social challenges in order to realize a society in which all children can grow up
with hope. The "Dokodemo Kodomo Shokudo" (Children's Diner) that the organization operates is a system that allows children
in need of food and supervision to eat at local restaurants anytime, free of charge, and with peace of mind.
The organization not only provides meals to children, but also creates opportunities for children to connect with the community
through cooperation between local restaurants and support groups working for children in the community.

Donation to the "Chinju-no Mori Project"
Takara Leben Tohoku (currently Takara Leben) supports and donates to the Chinju-no Mori project.
Chinju-no mori (Shrine Forest) has existed around shrines since ancient times, protecting the local community and the lives of
its people. This project aims to create as many forests modeled after such Chinju-no mori as possible to support Japan, acountry prone to frequent disasters.
In fact, deeply rooted trees mitigated the force of the tsunami in the Great East Japan Earthquake, and disaster prevention
forests played an important role in stopping large fires in the Great Kanto and Great Hanshin Earthquakes.

Photo courtesy of Chinju no Mori project95

Donation to Meals on Wheels Logistics System
Takara Leben Tohoku (currently Takara Leben) donates to Meals on Wheels Logistics System as part of its efforts to help
achieve the SDGs (Sustainable Development Goals) and revitalize the Tohoku area. This activity promoted by the National Food
Support Activities Cooperative Association aims to create an environment where all people, including children and the elderly,
who gather at children's cafeterias and other places across the country can have access to food. We have established a system
to deliver food donated by various organizations and local governments to approximately 2,000 locations for places to stay andchild support groups via 50 logistics centers (locations/warehouses with food freezing/refrigeration facilities and matching
coordination of donated food) and 99 hub locations (branches where activity groups pick up food) across Japan.

Donation to Good Neighbors Japan
Takara Asset Management supports and donates to Good Neighbors Japan, which aims to address ESG issues in a concreteand proactive manner in its daily business operations.
Good Neighbors Japan is a non-profit organization operating in Japan and abroad with a vision of "a society where children are
full of smiles and everyone can live humanely" and a mission of "working with partners in Japan and abroad to eliminate thecauses of poverty and discrimination and the threats posed by disasters and conflict." In Japan, as a project to address childpoverty, we operate the "Good Gohan" program, which regularly distributes food to single-parent households.

Donation to NPO KATARIBA
Takara Asset Management donates to Katariba, an authorized NPO certified by the Tokyo Metropolitan Government. The NPO
provides educational support to children in Japan who have been deprived of opportunities to study due to the disaster orpoverty. Donations are used to support activities such as creating a place for children in free after-school classes, learning
support, and meal support.

96

TABLE FOR TWO
We continuously donate to TABLE FOR TWO International, a non-profit organization that aims to eliminate international foodinequality issues. Since November 2018, we have been donating 50 yen per bag of vegetables harvested at Raven Village, afarm operated as part of our diversity promotion program where people with disabilities work, to be distributed to those whowish to receive them within the company. 28,844 yen was donated for activities in FY2022.

Joining and Donation to the Japan Children Support Association
Takara Asset Management has joined and donated to the Japan Children Support Association, a non-profit organization. With
the mission of permanently resolving the cycle of child poverty and violence, we support the association which works to provide
foster care and childcare support so that children can live in peace, an activity that is also linked to the Sustainable
Development Goals (SDGs).

97

Corporate Version of Hometown Tax
MIRARTH HOLDINGS Group promotes social contribution activities by donating to local governments through the corporate
version of hometown tax payment, thereby contributing to regional development and solving local issues.

Donation to Katsuura Undersea Park Restoration Plan Project in Katsuura City, Chiba Prefecture
MIRARTH HOLDINGS made a donation to the Katsuura Undersea Park Restoration Plan Project, a grant project for thedevelopment of a regional development center in Katsuura City, Chiba Prefecture.
The Leben Solar Chiba-Katsuura Power Plant, which has a power generation capacity of approximately 30 MW, the largest of
our company's plants, was completed in March 2021, and since we lease most of the land for the plant from the city of
Katsuura, we agreed to this plan to further contribute to regional revitalization.
This plan aims to create and develop a new year-round, stay-and-go type of tourism and exchange center by improving andrevitalizing the facilities around the Katsuura Undersea Park.

Donation to Preparation Project for the World Aquatics Championships in Fukuoka by Fukuoka
City, Fukuoka PrefectureWith the aim of contributing to the revitalization of Fukuoka City, Takara Leben made a donation to the Preparation Project for
the World Aquatics Championship s in Fukuoka, etc. through the corporate version of hometown tax payment.
The World Aquatics Championships held in 2023 is the second most important event in the swimming world after the Olympic
Games, and will be held in Fukuoka City for the first time in 22 years. Under the concept of "WATER MEETS THE FUTURE,"
which expresses the hope that all participants in the Championships would meet the future, the event will be efficiently
managed by taking advantage of the compact urban structure that is characteristic of Fukuoka City.

Donation to Morioka City, Iwate Prefecture, for Creation of Future Society through Digitalization
Project
Takara Leben donated to Morioka City, Iwate Prefecture's Creation of Future Society through Digitalization Project.
The company has four new condominium projects for sale in Morioka City, and has agreed to participate in this project in order
to contribute to the further upgrading of Morioka City's core urban functions.
This project will promote public-private partnerships to improve the lives of citizens through digitalization by identifying the ideal
ways and issues to utilize digital technology in the local economy and society with a view to the future of Morioka City, and bydefining priority issues to be addressed.

98

Donation to Fukui City, Fukui Prefecture, for Step-up Project for Creation and Expansion of
Relevant Populations and Immigration and Settling in Fukui City
Takara Leben donated to Fukui City's "Step-up Project for Creation and Expansion of Relevant Populations and Immigration andSettling in Fukui City" in Fukui Prefecture. The company agreed to make the donation because it has supplied three newcondominiums for sale in Fukui City to date, and because the "Creating Lifestyles with Value" and "Forming Communities,"
which are key sustainability themes of its Group, are initiatives shared by the city.
This project aims to create and expand the relevant population and promote immigration by providing opportunities for young,creative, community-oriented human resources from within and outside of the prefecture to learn and deepen exchanges withlocal partner companies, while creating commercialization ideas and engaging in activities to solve local issues.

KNB Grand Bazaar "Umbrella Sky"
Takara Leben sponsored the KNB Grand Bazaar "Umbrella Sky" with the aim of revitalizing the Toyama area, which isundergoing redevelopment. KNB Grand Bazaar is an annual event held in July every year by the Toyama area TV station,
Kitanihon Broadcasting Corporation (KNB), with themes including SDGs. In FY2022, the first time the event was held in three
years due to the new COVID-19, Umbrella Skies were placed to celebrate the 50th anniversary of Takara Leben's founding, adecoration with colorful umbrellas in the air. In the SDGs Corner, we exhibited panels showing our SDG initiatives and promoted
our efforts to focus on regional reconstruction and the SDGs.

99

Tohoku-Miyagi Online Revive Marathon 2022
The Tohoku-Miyagi Revive Marathon, which Takara Leben has sponsored since FY2018, is one of the largest marathons in the
Tohoku region, attracting runners with a desire to help rebuild the areas affected by the Great East Japan Earthquake. Since
FY2020, the marathon has been held as the "Tohoku-Miyagi Online Revive Marathon," which can be held even when people
cannot gather due to the spread of the new COVID-19. The runners download a GPS training application to their smartphones
and choose their favorite course from Iwate, Miyagi, or Fukushima to complete the target distance within the event period. (Only
Miyagi for the 2022 convention) For each runner who completes the course within the time frame, 100 yen is donated to areconstruction support organization. In 2022, 15 employees from our group, including 7 new member, participated as runners.

Community Revitalization through Festivals
Takara Leben sponsored the Hakata Dontaku Port Festival (Fukuoka Prefecture) and the Tohoku Kizuna Festival (Akita
Prefecture) with the aim of contributing to regional revitalization and the preservation of Japanese culture. Hakata Dontaku is a
traditional event that has been held for more than 840 years, originating from Matsubayashi, a traditional festival that is said tohave started in 1179. The Tohoku Kizuna Festival is a festival that brings together six festivals in the Tohoku region to not only
attract visitors to the festival, but also to pray for the repose of the souls of the dead and the recovery from the Great East
Japan Earthquake.
Through sponsorship of these festivals, we will foster a festival culture and contribute to reconstruction assistance and local
economic revitalization.

Kodomo Shokudo (Children’s cafeteria)
Leben Home Build has sponsored Children's cafeteria run by Menya Noroshi (Akihabara, Tokyo), operated by OCEAN
Corporation, since June 2022. Menya Noroshi operates the Children's Cafeteria, which procures foodstuffs with sponsorshipfrom companies, organizations, and individuals, and provides all meals free of charge to children up to the sixth grade at any
time.
Through sponsorship of the Children's Cafeteria, Leben Home Build will support the realization of a society where children canlive in peace by reducing child poverty issues and children who eat alone.

100

Yokohama Model Regional Contribution Company Certification
Leben Home Build (formerly Nikko Takara Corporation) has received the highest rating in the Yokohama-type Community
Contribution Company Certification System, which is a system under which the City of Yokohama, a government agency,
evaluates and certifies companies in Yokohama City, Kanagawa Prefecture, that are engaged in excellent community
contribution activities through their core business and other activities. The audit evaluates a company's regional characteristics
and management system from various perspectives, including "local utilization and orientation," "employment," "environment,""occupational health and safety," "consumer and customer relations," "compliance," and "information security."

Winner of Kids Design Award for "Yajirushi" Emergency Shelter
Guidance Signs
As a developer involved in urban development through the sale of new houses, Leben Home Build produces and installs"Yajirushi" signs to guide people to evacuation centers, based on the idea that "in residential areas with few landmarks, signs
are needed to guide people, including small children, to evacuation centers that are easily understood by everyone." To help
educate children throughout the community about disaster preparedness, we have installed them at locations facing the street,such as inside garbage stations in its subdivisions. At the time of installation, we communicated the purpose and significance ofthe project to the residents of the surrounding area, and we have received support from many of them. In the future, we will
provide this service to other companies' subdivisions, governments, and organizations upon request, aiming to contribute todisaster prevention in the local community as a whole. Yajirushi received the Encouragement Award at the 2019 Kids DesignAwards for its high level of creativity in minimizing information and expressions that are easy for children to understand.

101

Cleanup Activities
As part of activities aimed at becoming a company that contributes to the development of local communities, each Group
company engages in cleanup activities. Through cleanup activities, we will fulfill our corporate social responsibility by keeping
the areas we are involved in hygienic and contributing to the healthy development of local communities. In addition to cleaning
up to protect the sanitary environment around condominiums supplied by Group companies, sites under construction, and solar
power plants, we are also actively involved in cleaning up the areas around our offices, which are the bases for our employees'
activities. We will also participate in regular beautification activities organized by local municipalities and neighborhood
associations, aiming to strengthen partnerships and cooperative relationships in the community.

Recognized by the Hanno City Park Beautification Activity
Organization for cleanup activities at a park near the
power plant (Takara Asset Management)

Roads around LS Hanno Misugidai Power Plant after
weeding activities(Leben Community)

Participation in community association-sponsored cleanup Participation in Petit Beautification Campaign organizedactivities at a power plant in Sugito-cho, Kita-Katsushika- by Matsuyama City (Takara Leben Matsuyama Branch)gun, Saitama Prefecture (Leben Clean Energy)102

SDGs Donation-type Private Placement Bonds
Leben Clean Energy raised funds by issuing SDGs Donation-type Private Placement Bonds with Ehime Bank as the underwriter.
A portion of the issuance fee was donated to the Ehime Prefectural Government through Ehime Bank, and a presentation
ceremony was held on October 26, 2022.
SDGs Donation-type Private Placement Bonds are issued by blue-chip companies that meet certain financial criteria, support
the objectives of the SDGs (Sustainable Development Goals) advocated by the United Nations, and wish to contribute to theachievement of the SDGs through donations and contributions. A portion of the issue fee (0.1% of the issue amount) for thisprivate placement bond is donated to organizations working on the SDGs.
Leben Clean Energy, which has been promoting renewable energy to contribute to the realization of a sustainable society under
its vision of "creating a carbon neutral world with renewable energy," has decided to raise funds through the issuance of SDGs
Donation-type Private Placement Bonds to express its desire to contribute to the achievement of the SDGs through its businessactivities. The funds obtained through this financing will be used to fund future projects that will lead to the achievement of the
SDGs.

Name

SDGs Donation-type Private Placement Bonds

Issue amount

150 million yen

Term

5 years

Use of funds

Equipment fundDonation to

Ehime Prefectural Government (Ehime Regional Environmental Conservation Fund)

Donation amount

150,000 yen

103Sponsorship

Sponsorship of Sports
KUWATA CUP 2023
Takara Leben sponsored "KUWATA CUP 2022→2023 - Bowling Tournament for Everyone," which singer Keisuke Kuwata held
under the slogan "Maintain Healthy Minds and Bodies" by launching "SKGs" = "Keisuke Kuwata's Sustainable Goals" inconjunction with SDGs.
Under the theme of "Bowling Tournament for Everyone," which anyone in Japan can participate in, the theme song was written
by Keisuke Kuwata & The Pin Boys, and the company sympathizes with the idea of realizing a sustainable society through thechemical reaction of sports and entertainment, and is sponsoring the event.
In addition, as a special project of the Company, which aims to contribute to urban development and regional revitalization, theTakara Leben Special SKGs Present Campaign was held at the same event. The campaign was a gift campaign exclusively forvisitors to the bowling alley, with prizes including an invitation to the finals and a set of assorted local specialty products.

104Kanagawa Ladies OpenTakara Leben sponsored the "Kanagawa Ladies Open 2022 - Charity Golf Tournament" with the aim of fostering culture andlocal reconstruction through sports sponsorship. This event has been held since 2017 with the aim of increasing the golfing
population and social interaction. This year, many players associated with Kanagawa Prefecture and senior professionals
participated in the event.

Nippon TV Tokyo Verdy Beleza
Since February 2021, Takara Leben has entered into a corporate partner agreement with Nippon TV Tokyo Verdy Beleza,
Japan's leading women's soccer team, to deliver the excitement and joy of sports to the public.
In November 2021, a crown game "Takara Leben Day" (against Omiya Ardija VENTUS) was held as an initiative to promote
sports and culture and women's activities. Before the game, elementary school students from Itabashi Ward, Tokyo, where thecompany was founded, were invited to "Takara Leben presents: Itabashi Ward Soccer Festa" to enjoy playing soccer on the
coveted pitch where professionals play.
In December 2022, "MIRARTH HOLDINGS DAY" featuring the Sanfrecce Hiroshima Regina game was held. On the day of theevent, Takara Leben's corporate mascot, "Le Be", and the team's mascot character, "REVERUN", made appearances, filling thevenue with excitement.

105

Revitalizing Local Communities through Sponsorship ofProfessional Sports Teams
As an official sponsor, Takara Leben Tohoku (currently Takara Leben) supports three professional sports teams that call Sendai
home: Vegalta Sendai in the J-League, the Tohoku Rakuten Golden Eagles, a professional baseball team, and the Sendai 89ers
in the B-League. Through sponsorship of each team, we are committed to promoting local sports and community revitalization,
and will continue to contribute to the happiness and development of local communities.

Cultural Sponsorship
SDGs QUEST Mirai Koshien Metropolitan Area Competition
MIRARTH HOLDINGS sponsored the "SDGs QUEST Mirai Koshien Metropolitan Area Competition," in which high school
students present their ideas and action plans for solving social issues in order to think and act for a sustainable future for theearth. In FY2022, the competition was held in 25 prefectures in 11 areas throughout Japan, with a total of 1,087 students in 242
teams from 53 schools in Tokyo and 3 prefectures (Tokyo, Chiba, Saitama, and Kanagawa) participating in the Metropolitan
Area competition.
Each team's presentation introduced a wide variety of ideas, ranging from actions related to global issues with an eye on the
SDGs goals to actions that leverage and expand industries unique to the region.
This competition is in line with our company's mission statement "Our Purpose: To design sustainable environments for ahappier future for both people and our planet." We believe that this event will contribute to the development of "leaders of asustainable society." Through sponsorship, we will further support and promote efforts to achieve the goals of the SDGs andcontribute to resolving issues in each region.

106

Ehime SDGs Koshien
Takara Leben and Leben Community were special sponsors of the "Ehime SDGs Koshien: High School Students' SDGs Practice
Project” (Sponsor: NPO Community Education Support Association), a project commemorating the 50th anniversary of thecompany's founding.
The project aims to raise awareness of the SDGs by helping high school students voluntarily acquire correct knowledge of theSDGs and independently put it into practice. We planned and developed this project with the cooperation of the organizer, NPO
Community Education Support Society, based on the belief that providing students, who will lead the world in the future, with aplace where they can learn on their own initiative for the future will lead to Takara Leben's corporate philosophy, "THINKHAPPINESS AND MAKE THE HAPPINESS."
Twelve teams (84 students) of high school students from Ehime Prefecture who are interested in the SDGs participated in theevent, and many unique presentations were made on their efforts to solve issues in their respective regions and on their plans
to examine SDG issues facing Japan. Team "Save Our Future" from Matsuyama Technical High School in Ehime Prefecture,
which created a disaster prevention card game for junior high school students and appealed for the improvement of local
disaster preparedness, won the Grand Prix for their "Local Disaster Prevention x SDGs: Creating a Community that is Resilient
to Disaster and Can Continue to Live There."107

Environment Photo Contest
MIRARTH HOLDINGS participated in the 29th Environmental Photo Contest 2023 (sponsored by President Inc. and supportedby the Ministry of the Environment and the Institute for Environmental Civilization), in which citizens took photos based on atheme set by companies and express their thoughts and commitment to the environment through joint efforts by companies andcitizens.
Based on our corporate commitment to solving social issues with the keyword "Happiness," we received many entries for the
Takara Leben Award, which was solicited under the theme of "Happiness in Water and Life." After a rigorous screening process,we awarded the Excellence Award to "Excursion," with its beautiful contrast between the straightly planted seedlings and theflowers spreading out on the bank.

Excellence Award "Excursion"

Honorable Mention: "Oh, Happiness?"

Honorable Mention: "'Wow! That feels
good!'"

108

grape Award
The "grape Award," sponsored by the Nippon Broadcasting System Group's web media "grape," is a contest that calls foressays that touch the heart. In FY2022, the sixth year of the contest, 643 submissions were received from a wide range of age
groups from 10 to 89 years old under the theme of "Heartwarming episodes that happened around you" or "Stories that touches
your heart." Takara Leben has been a special sponsor of the "grape Award" for five consecutive years, presenting the "Takara
Leben Award" to works that convey a sense of "happiness," befitting our corporate vision of "THINK HAPPINESS AND MAKE
THE HAPPINESS."

MOMAT Corporate Partnership
The National Museum of Modern Art, Tokyo, a central center for art in Japan, is promoting MOMAT Support Circle, a newmuseum support system in which companies and museums work as partners.
Takara Leben has been a partner company of the MOMAT Support Circle since July 2021 and continued to support the activitiesof the National Museum of Modern Art, Tokyo (including exhibition organization, research and surveys, collection and storage ofartworks, educational outreach activities, and museum management projects) in 2022. By supporting the activities of the
National Museum of Modern Art, Tokyo, which provides happiness to the public through works of art of high cultural value, we
contribute to fostering culture and provide opportunities for our employees to experience outstanding works of art.

109

Pippin the MusicalTakara Leben was the sole sponsor of the Broadway musical "Pippin" (Japanese version in 2022), supporting cultural life as anextension of the home. Pippin is an acclaimed production that has won four Tony Awards, including Best Musical and Best
Revival.
Through sponsorship of Pippin, whose storyline is in line with our company's vision of "THINK HAPPINESS AND MAKE THE
HAPPINESS," we will contribute to the revitalization of the theater world, which has been forced to restrict its activities due tothe Corona disaster, and to the preservation of culture.

Hamarikyu Lunchtime Concert
MIRARTH HOLDINGS was the title sponsor of the "Hamarikyu Lunchtime Concerts," a series of performances held annually at
Hamarikyu Asahi Hall (Tsukiji, Tokyo). To commemorate the 50th anniversary of the founding of Takara Leben, a total of 12
performances and one special lecture was held during the year under the title "Takara Leben Group 50th Anniversary
Performance." We are committed to establishing a national brand and providing a rich, high-quality lifestyle.

110

Jyoshu Shogi Festival
MIRARTH HOLDINGS co-sponsored and supported the 11th Jyoshu Shogi Festival 2023 held in Gunma Prefecture in January
2023. Twelve top-class shogi players representing the world of shogi participated in the event, which included games between
shogi players, exchange events with shogi players, the Women's Challenge Cup, and the Children's Challenge Cup. We willcontinue to contribute to the popularization and development of Shogi, a traditional Japanese culture, and to the revitalizationof the local community.

111

Shareholders

Policy and Past Performance Regarding Dividends
Our basic decisions on dividends are not biased toward the dividend payout ratio, but are comprehensive and take into
consideration factors such as dividend on equity (DOE) and dividend yield. We seek to be an appealing company by ensuringthat shareholdings remain stable over the long rather than the short term and are not affected by fluctuations in share prices.

Dividend Per Share

Stock Information

112

Shareholder Questionnaires
We conduct periodic surveys to promote two-way communication with our shareholders. The valuable opinions we receive fromthe surveys are introduced to our shareholders through the shareholder newsletters posted on our website and are reflected inour subsequent IR activities.

Presentation Materials for Analysts Meeting

Corporate Briefings for Individual Investors
In order to actively communicate with individual investors, MIRARTH HOLDINGS regularly holds company information sessions
for individual investors in various locations throughout Japan. In FY2022, we held a company information session in Sapporo in
September to explain our business and medium- to long-term strategies.

To Private Investors

Disclosure Policy
MIRARTH HOLDINGS is disclosing information to everyone based on the following information disclosure policy.

Disclosure Policy

113

Social Data

Social Data
MIRARTH HOLDINGS GroupFY2018

Number of employees(persons)

Average age (age)Average years of service(years)

FY2019FY2020

FY2021

FY2022

Male

618

675

739

815

867

Female

274

298

322

385

426

Total

892

973

1,061

1,200

1,293

Male

37.8

38.2

38.0

39.0

38.9

Female

33.0

33.5

33.9

34.7

35.1

Total

36.3

36.7

36.7

37.6

37.7

Male

4.5

4.8

4.9

4.8

5.1

Female

3.6

4.2

4.0

4.1

4.4

Total

4.2

4.6

4.6

4.6

4.9

114

Takara Leben
FY2018

Number of employees (persons)Average age (age)Average years of service (years)

FY2019FY2020

FY2021

FY2022 (*1)

Male

222

261

292

271

361

Female

74

73

73

72

123

Total

296

334

365

343

484

Male

35.4

36.0

35.9

36.5

35.9

Female

32.8

34.4

35.5

34.9

33.7

Total

34.7

35.6

35.8

36.1

35.3

Male

5.5

5.6

5.8

6.1

6.0

Female

5.1

6.4

6.9

7.2

6.1

Total

5.4

5.8

6.0

6.4

6.0

Male

67

88

99

92

121

Female

6

8

8

7

15

Male

91.8

91.7

92.5

92.9

89.0

Female

8.2

8.3

7.5

7.1

11.0

2.19

2.06

1.98

2.70

2.0

Male

41.4

52.4

52.4

57.8

65.7

Female

66.2

67.9

67.6

69.1

78.1

Total

46.7

55.6

55.4

60.1

68.7

Male

5

12

13

12

15

Female

3

4

3

3

Male

0

0

1

0

Female

3

4

3

3

Male

0

0

7

0

Female

100

100

100

100

83.8

93.5

92.6

85.0

87.9

Number of managers (persons)Management ratios (%)

Employment rate of persons with disabilities (%)

Rate of access to leisure (%)

Number of
subjects

Childcare leave

7

Number ofrecipients46

Acquisition rate(%)

Stress check examination rate (%)-

Training hours per person

(*2)

(*2)

14.2

18.2

28.3

Training cost per person (yen)

(*2)

(*2)

20,61228,01256,046

Happiness survey

-

-

-

-

4.51 / 7.0*1 On October 1, 2022, Takara Leben West Japan Co., Ltd. changed its company name to Takara Leben Co., Ltd. and merged with Takara Leben Tohoku Co., Ltd.
Therefore, data aggregation is being conducted under the new organization.
*2 Data was compiled and disclosed in time for the new personnel system to begin operating from FY2020.

115