Marui Group Co., Ltd. · TSE:8252
Marui — Marui Group Co Ltd Ord — Q2 2025 Earnings Presentation
90 slides from Marui's earnings presentation, Nov 12, 2024
Slide 1: Overview of Performance in Six Months Ended September 30, 2024 and Future Outlook
M A R U I G R O U P CO . , LT D Over view of Performance in Six Months Ended September 30, 2024 and Future Outlook November 12, 2024 1
Slide 2: Schedule for today's presentation
Schedule for today's presentation Overview of Performance and Segment Income In 1 Six Months Ended September 30, 2024 Hirotsugu Kato, Director, Managing Executive Officer, and CFO 2 Fut ure G row th St rateg y Hiroshi Aoi, President and Representative Director, Representative Executive Officer, CEO
Slide 3: Overview of Performance and Segment Income in Six Months Ended September 30, 2024
1 Overview of Performance and Segment Income In Six Months Ended September 30, 2024 Hirotsugu Kato, Director, Managing Executive Officer, and CFO
Slide 4: Summary of Financial Results and Overview of Businesses
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 4
Slide 5: Summary of Financial Results: Consolidated
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 5
Slide 6: Highlights in the Six Months Ended September 30, 2024
Highlights in the Six Months Ended September 30, 2024 ① Total group transactions increased by 10% to ¥2,382.9 billion (YoY + ¥210.4 billion), continuing to break records . ② Consolidated operating profit increased by 15% to ¥21.5 billion (YoY + ¥2.8 billion), marking the fourth consecutive quarter o
Slide 7: Main Financial Indicators
Main Financial Indicators ■ Total Group Transactions ■ Operating Profit ■ Profit Record High （Billion yen） （Billion yen） （Trillion yen） ¥2.3829 (YoY＋¥0.2104) 2.2 22.5 22.4 ¥21.5 (YoY＋¥2.8) 2 1.9 18.7 Impact of 20 Securitization * 1.4 13.9 13.4 ¥12.1 11.5 (YoY＋¥0.7) 10 10 1 FY2020 FY2023 FY2024 FY202
Slide 8: Segment Information (Operating Revenue and Operating Profit)
Segment Information (Operating Revenue and Operating Profit) ■ Retailing ■ FinTech （Billion yen） 700 （Billion yen） ¥89.2 billion （YoY＋¥8.5 billion） 600 80.7 76.6 Impact of 71.3 Securitization * 50.7 80 500 50 ¥39.1 billion Operating （YoY＋¥3.1 billion） Revenue 400 36.6 36.0 （billion yen） 30 300 40 ¥2
Slide 9: Breakdown of Changes in Operating Profit
Breakdown of Changes in Operating Profit +¥2.9 billion -¥0.1 billion excluding the impact of liquidated accounts receivables Impacts of liquidated accounts receivables Liquidated accounts Eliminations /Corporate ¥21.6billion receivables ¥21.5billion FinTech -¥0.1 billion （YoY＋¥2.8billion） ¥18.7 Reta
Slide 10: Summary of Financial Results: Retailing
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 10
Slide 11: Retailing: Breakdown of Changes in Operating Profit
Retailing: Breakdown of Changes in Operating Profit Operating profit for the first half increased by ¥1.3 billion mainly due to an increase in tenant rent revenue Related ¥3.3 Cost Tenant business billion Event EC and other ＋¥0.3 billion （＋¥1.3 billion） ¥2.0 ＋¥0.9 billion ＋¥0.1 billion ±¥0 billion ±
Slide 12: Tenant Rent Revenue
Tenant Rent Revenue 0.9 billion yen increase from the previous year due to an increase in the fixed-lease area and an increase in the unit rent per tsubo per month, etc. ■ Effect of the increase in tenant rent revenue +¥0.9 billion ¥22.1 billion Effect of fixed-term ＋¥0.5 billion rental floor space
Slide 13: Unoccupied Section
Unoccupied Section As of September 2024, the non-operational floor space had decreased to 6,800 tsubo, and is expected to continue to shrink in the future. ■ Changes in unoccupied area (operation average) （Tsubo） 10,000 8,700 tsubo 8,400 tsubo 6,800 tsubo 6,500 tsubo 5,500 tsubo 5,000 23.9 FY2023 24
Slide 14: Progress of Stores that Do not Sell (by Category)
Progress of Stores that Do not Sell (by Category) As of September 2024, the area occupied by non-retail tenants had expanded to 62% (up 4% year-on-year). Fixed-term ¥50thousand 51 51 Monthly tsubo 50 （＋¥1 thousand） unit price Experience focused 24％（＋2％） Non-retail tenants 65％ 70％ 62％ Food, compositi
Slide 15: Changes in EC Transactions
Changes in EC Transactions Transaction volume increased for the 11th consecutive quarter, up 4% from the previous year ■ YoY change in EC transactions 140 116 116 114 120 112 115 110 104 103 106 104% 101 100 100% 86 Use of Web experts 80 60 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2022 FY2023 FY2
Slide 16: Summary of Financial Results: FinTech
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 16
Slide 17: Fintech: Breakdown of Changes in Operating Income
Fintech: Breakdown of Changes in Operating Income In addition to the increase in income, the increase in non-linked expenses was suppressed due to improved productivity, resulting in a profit increase of 1.3 billion yen. Income +¥6.9billion Expenses -¥5.4billion Non- Transaction- transaction-linked
Slide 18: Changes in Credit Card Transactions
Changes in Credit Card Transactions Transactions in the second quarter reached ¥1,112.2 billion (109% year on year) and marked a quarterly record high. 12,000 ■ Credit Card Transactions （％） YOY 114 116 112 112 110 109％ 120 120 （billion yen） 100 100 11,000 1,100 80 60 Quarterly 10,000 Record High 1,0
Slide 19: Finance Charges on Installment and Revolving Payments
Finance Charges on Installment and Revolving Payments Transaction volume of installment and revolving payments exceeded the growth in credit card transaction volume, and fees increased by 8% to 29.3 billion yen. Transactions YoY Changes in finance charges on installment and revolving payments （％） ¥2
Slide 20: New Cardholders
New Cardholders Due to the impact of the previous year's major deal for EPOS card that supports “Suki”*, the number of new cardholders in the first half of the year was 390,000, the same level as the previous year. ■ New Cardholders （Thousand） 50 400 40 390 390thousand 300 170 160 EPOS cards that 30
Slide 21: Spread of EPOS cards that support Suki
Spread of EPOS cards that support “Suki” The number of EPOS cards that support “Suki” is expected to exceed the previous year's figures for the second half of the year. Number of projects for EPOS cards that support EPOS cards that support “Suki” “Suki” scheduled to be issued in the second half of t
Slide 22: Cardholder Numbers
Cardholder Numbers The number of cardholders for EPOS cards that support “Suki” has exceeded 1 million, and the number of cardholders has reached a record high of 7.73 million. ■ Changes in Cardholder Numbers Record High （million） 7.73 7.90 8008 7.43 6006 4004 EPOS cards that support “Suki” 58％ 60％
Slide 23: Summary of Financial Results: Co-creative Investment
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 23
Slide 24: Co-Creative investment
Co-Creative investment Co-creative investments for the first half of the fiscal year totaled ¥1.6 billion, with co-creative investments made to date reaching ¥29.6 billion ■ Co-creative investment （Billion yen） Total amount to date ¥29.6 billion 80 8 7.1 7.2 0.9 3.3 4.7 4.2 40 4 0.9 1.5 2.9 6.3 1.9
Slide 25: Profit Contributions from Co-Creative Investment
Profit Contributions from Co-Creative Investment Contributions to profit in the second quarter were ¥1.4 billion, with IRR of 10% ■ Contribution to profit 60 ¥5.5 billion or more （Billion yen） IR 440 2.8 4.0 FinTech (Revenue) - Usage of cards at co-creative investees - Usage of collaboration cards 2
Slide 26: Summary of Financial Results: Balance sheet / Capital allocation
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 26
Slide 27: Balance Sheet
Balance Sheet Total assets are ¥1.0894 trillion and increased by ¥85.9 billion from the end of the previous fiscal year Total assets ¥1.0894 trillion （YoY change ＋¥85.9 billion ） Total assets ¥1.0035 trillion Current assets Liabilities Current assets Liabilities Operating Operating receivables recei
Slide 28: Capital allocation
Capital allocation Allocated ¥8.3 billion for growth investments and ¥12.8 billion to shareholder returns while maintaining capital optimization. Human capital investment totaled ¥4.6 billion (25% of personnel costs) ■ Capital allocation（FY2025 2Q） Investing Existing investments ¥6.6 billion Core op
Slide 29: Summary of Financial Results: ESG
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 29
Slide 30: ESG Status
ESG Status ■ Key external assessments ＊1 ・DJSI World Index March 2024 August 2024 July 2024 October 2024 6th consecutive year 5th certification 8th consecutive year Highest rank ・DJSI World Asia Pacific Index “A rank” achieved 7th consecutive year - Six ESG indices used by GPIF (August 2024) JAPAN E
Slide 31: Full-year Forecast
Summary of Financial Results for Six Months Ended September 30, 2024 and Overview of Businesses ･ Consolidated ･ Retailing ･ FinTech ･ Co-creative Investment ･ Balance sheet / Capital allocation ･ ESG Full-year Forecast 31
Slide 32: Full-Year Forecast for Fiscal Year Ending March 31, 2025
Full-Year Forecast for Fiscal Year Ending March 31,2025 The three KPIs of EPS, ROE, and ROIC are expected to be in line with the plan at the beginning of the year FY2024 FY2025 YoY YoY change difference EPS (Yen) 130.7 141.4 108 ＋10.7 ROE (％) 9.9 10.4 - ＋0.5 ROIC (％) 3.6 3.7 - ＋0.1 Reduction of CO2
Slide 33: FY2025 Income Forecast by Segment
FY2025 Income Forecast by Segment Profit from retailing is expected to increase by 22% to ¥8.5 billion and from FinTech by 5% to ¥44.5 billion FY2024 FY2025 YoY YoY change difference Billion yen Billion yen ％ Billion yen Retailing 7.0 8.5 122 +1.5 FinTech 42.4 44.5 105 +2.1 Eliminations -8.3 -8.0 -
Slide 34: Retailing: Breakdown of Changes in Operating Income
Retailing: Breakdown of Changes in Operating Income Operating income is forecasted to increase by ¥0.2 billion due to increased expenses, despite steady growth in revenue in the second half of the year. ¥3.3 Related business etc. billion Tenant Event E-Commerce Cost and other ＋¥0.3 billion ±¥0 billi
Slide 35: FinTech: Breakdown of Changes in Operating Income
FinTech: Breakdown of Changes in Operating Income Operating profit is forecasted to increase by ¥0.7 billion due to revenue growth in the second half of the fiscal year. Non- Transaction Transaction transaction-linked ＋¥4.2 billion -linked Non- - ¥2.4billion transaction-linked ¥22.5 Liquidated accou
Slide 36: Setting of acquisition limit for flexible acquisition of treasury shares
Setting of acquisition limit for flexible acquisition of treasury shares If the stock price does not fully reflect future profitability Acquiring treasury shares flexibly Acquisition limit of up to ¥20 billion set （ Acquisition period: November 15, 2024 - May 15, 2025 ） 36
Slide 37: Future Growth Strategy
2 Future Growth Strategy Hiroshi Aoi, President and Representative Director
Slide 38: 1. Suki Economy
1. “Suki” Economy 2. Business that supports “Suki” 3. Trinity business strategy (integrating retailing, FinTech, and forward-looking investments) putting “Suki” at the center
Slide 39: 1. Suki Economy
1. “Suki” Economy 2. Business that supports “Suki” 3. Trinity business strategy (integrating retailing, FinTech, and forward-looking investments) putting “Suki” at the center
Slide 40: History of MARUI GROUP
History of MARUI GROUP In 1960, the Group issued Japan's first credit card, and in the 1980s, it developed stores for youth fashion. The 1960s - The 1980s - The 2000s - Has been creating new Issued Japan's first Developed stores for businesses under the trinity credit card. youth fashion. business m
Slide 41: Concept of Our Strategy
Concept of Our Strategy Our basic stance is not to compete in existing markets, but to develop new markets. Competition Low Developing MARUI Group's new markets basic stance Market Existing New Victory or defeat as a result of competition High 41
Slide 42: Our Next Area of Focus: Suki Economy
Our Next Area of Focus “Suki” Economy *The word “suki” can mean love, like, favor, passionate about, crazy about, adore, etc. 42
Slide 43: Changes in the World: Cost-consciousness
Changes in the World: Cost-consciousness In a deflationary economy, since wages do not rise, the balance between function and price becomes important, and consumers tend to be "cost-conscious". ■ Real Wage Index vs. Consumer Price Index 110 (%) Consumer price index 100 90 Nominal wage Real wage Cost
Slide 44: Changes in the World: Priority-based Consumption
Changes in the World: Priority-based Consumption 68% of respondents are conscious of "priority-based consumption," which focuses on separating what to save and what to spend money on. ■ Purchasing attitudes concerning polarization of consumption (multiple responses) I separate what to save and what
Slide 45: Priority-based Consumption as a Medium- to Long-term Trend
Priority-based Consumption as a Medium- to Long-term Trend With deflation expected to end, the Bank of Japan and major think tanks are also paying attention to the current trends, such as priority-based consumption and fan activities. We are seeing a new trend where people are shifting from defensiv
Slide 46: Current Economy
Current Economy In contrast to the "cost-conscious economy," the "non-cost-conscious economy" is a new market and a blue ocean that is expected to grow in the future. ■ Highlighted factors Value Non-cost-conscious economy Functions Emotion Cost-conscious economy Price 46
Slide 47: Suki Economy
“Suki” Economy Dropping out of a cutthroat cost competition and creating a new market driven by “Suki”. ■ Concepts to Be Emphasized Values “Suki” Economy Function Emotion Cost-conscious economy Price 47
Slide 48: Business Focus
Business Focus Putting “Suki” at the core of the trinity business model, we will concentrate our resources and investments and carry out our new growth strategies. Forward- looking investments “Suki” Retail FinTech 48
Slide 49: 2. Business that supports Suki
1. “Suki” Economy 2. Business that supports “Suki” 3. Trinity business strategy (integrating retailing, FinTech, and forward-looking investments) putting “Suki” at the center
Slide 50: Platform to Connect Suki and Our Business
Platform to Connect “Suki” and Our Business Utilizing EPOS cards that support “Suki” as a platform, we aim for both customer happiness and profits. Each and every one of us “Suki” EPOS cards that support Business Platforms “Suki” “Suki” Economy Market we will create 50
Slide 51: EPOS cards that support Suki
EPOS cards that support “Suki” As of September 2024, 88 types of cards covering a wide range of genres have been issued, and since March 2024, Only One Cards have been issued. Solving social Issues Music Sports + Only One Card Character Anime (Japanese cartoons) Game 88 projects in total Number of c
Slide 52: The First Only One Card: EPOS Pet Card
The First Only One Card: EPOS Pet Card Started as a one and only card, with a portion of the amount spent donated to animal protection organizations. EPOS Pet Card A portion of the amount spent is donated to animal protection organizations. * These are actual cards used by Pet Card holders (publishe
Slide 53: Pet-related Market Size
Pet-related Market Size The number of households with pets nationwide is 10.5 million, which exceeds the number of households with children, and the market size is expected to be 3.8 trillion yen. ■ Number of households and the amount spent on ■ Comparison with other markets pet care Number of pet-o
Slide 54: Anticipated Markets
Anticipated Markets If the interpretation of “Suki” is expanded without being limited to fan activities, the market size of major categories alone is more than ¥10 trillion. “Suki” in the broad sense “Suki” in the narrow sense Pet Mountain Market size climbing Watching ¥3.8 trillion Market size ¥0.2
Slide 55: Long Tail Strategy
Long Tail Strategy EPOS cards that support “Suki” serve as long tail items, and have the potential to expand infinitely as the number of “Suki” increases. Number of cardholders “Suki” … □∞ (limitless) Number of Platform EPOS cards that support ”Suki” projects 55
Slide 56: Higher LTV Compared to General Cards
Higher LTV Compared to General Cards Since EPOS cards that “Suki” are strongly linked to individual values, they are expected to be used as main cards and thus to generate high LTV. ■ LTV comparison by card type 2 2 to 7 times higher 1 0 General cards EPOS Cards 1 that support “Suki” 56
Slide 57: Utilize Employees' Suki for Business
Utilize Employees’ “Suki” for Business We will create new business opportunities by changing the relationship between employees and customers through common ”Suki”. Until now From now on In a state of Seller Purchaser Fan flow ¥ Employee Customer Employee Customer 57
Slide 58: Competition That Supports Suki
Competition That Supports “Suki” We have expanded opportunities for employees to make proposals by utilizing our characteristic culture based on voluntary participation and developed unique services with the participation of all employees. ■The 1st competition that supports “Suki” Voluntary particip
Slide 59: 3. Trinity business strategy
1. “Suki” Economy 2. Business that supports “Suki” 3. Trinity business strategy (integrating retailing, FinTech, and forward-looking investments) putting “Suki” at the center
Slide 60: Transform Business Models and Maximize Synergies
Transform Business Models and Maximize Synergies We will maximize group synergies by reorganizing and evolving each business around “Suki”. Synergy maximization Reorganization Forward- looking investments Retail FinTech 60
Slide 61: Synergies between Retail and FinTech
Synergies between Retail and FinTech Since the issuance of the EPOS Card, the situation has reversed and the retail business has been supporting the FinTech business, and a high growth rate of 16% per year has been achieved. ■ Changes in total transactions since the foundation Retail FinTech 50000 4
Slide 62: FinTech's High Growth/Profitability Achieved through Retail Synergies
FinTech's High Growth/Profitability Achieved through Retail Synergies High growth rate and profit margins that exceed industry standards have been achieved by increasing new cardholders mainly through retail stores. Ongoing new 700,000 - cardholders 800,000 people solicitation Number of new cardhold
Slide 63: One of the most successful cases in the world
"One of the most successful cases in the world" We view your credit card portfolio as one of the most successful issued by a retailer group worldwide. I was particularly inspired by your concept of the retail business supporting the cards Visa CEO business. Ryan McInerney 63
Slide 64: Issues concerning Retail Synergies with FinTech
Issues concerning Retail Synergies with FinTech We will re-expand customer contact points, which decreased due to the closing-down of directly managed sales floors and private brands, through events that support “Suki” and the goods business. ■ Decrease of customer contact points due to changes in t
Slide 65: Active Engagement by Retail Human Resources in a Different Segment
Active Engagement by Retail Human Resources in a Different Segment By utilizing the know-how that retail human resources have obtained through their experience in retail stores, they will play an active role again in increasing the cardholders, which will lead to the creation of new revenues. Retail
Slide 66: Future Direction of Fintech
Future Direction of Fintech We will re-accelerate growth with the twin engines of gold cards and EPOS cards that support “Suki”. ■ Future Growth Image of Fintech 12 (trillion yen) 10 EPOS cards that support 8 “Suki” 6 Twin engine 4 Gold card 2 0 11.3 24.3 31.3 Future 将来 66
Slide 67: Premium Version of EPOS cards that Support Suki
Premium Version of EPOS cards that Support “Suki” We will introduce a premium version of EPOS cards that support “Suki” in addition to gold cards, which allows impact and profit to be balanced. Gold card Premium version of EPOS cards that support “Suki” Raised to the same Will become the Credit limi
Slide 68: Evolution of the App UX as a Customer Contact Point
Evolution of the App UX as a Customer Contact Point We will evolve the UX of the EPOS app, which is an important customer contact point along with stores, through the new company Marui Unite and will improve LTV. ■ Increase LTV through key customer contact points Stores Evolution of the App UX LTV +
Slide 69: Direction of Forward-looking Investments
Direction of Forward-looking Investments We will expand group synergies by investing in IPs that support “Suki” and collaborating with individual creators. Investment in start-ups that support “Suki” Investment in and collaboration with start-ups Utilization of as our main target know-how for other
Slide 70: Capital Allocation Based on Future Growth Strategy
3 Capital Allocation Based on Future Growth Strategy Hiroshi Aoi, President and Representative Director
Slide 71: Capital Allocation Based on Future Growth Strategy
Capital Allocation Based on Future Growth Strategy We will re-accelerate growth by reducing non- priority business fields and concentrating investment in priority business fields, mainly those that support “Suki”. 71
Slide 72: Measures to Achieve Asset Efficiency and Growth Potential
Measures to Achieve Asset Efficiency and Growth Potential 1. Allocation of store assets to maximize synergies between retail and FinTech 2. Allocation of human resources to take advantage of individual and organizational capabilities 3. Revenue contribution of new services born from the investment i
Slide 73: Allocation of Store Assets to Maximize Synergies between Retail and FinTech
1. Allocation of Store Assets to Maximize Synergies between Retail and FinTech We will concentrate investment and human resources in priority stores to maximize synergies between retail and FinTech. • Stores operating in the red or Non-priority with a low NOI yield Closure and As of Nov. 2024 stores
Slide 74: Allocation of Human Resources to Take Advantage of Capabilities
2. Allocation of Human Resources to Take Advantage of Individual and Organizational Capabilities As a result of the structural transformation of the Group's businesses, the retail headcount has decreased by approximately 60% over the past 10 years while the FinTech headcount has doubled. ■ Changes i
Slide 75: Improvement of FinTech Productivity
Improvement of FinTech Productivity Transaction volume per employee has grown, but as a result of accepting personnel from retail, the number of cardholders per employee has decreased. ■ Changes in FinTech transaction volume per employee ■ Changes in the number of cardholders per employee (¥100 (Per
Slide 76: Acceleration of Efficiency through Re-allocation of Personnel
Acceleration of Efficiency through Re-allocation of Personnel Going forward, we will improve productivity per capita as early as possible by optimizing our workforce and by utilizing DX to compensate for the reduction in headcount. ■ Changes in the number of cardholders per employee (plan) Number of
Slide 77: Revenue Contribution of New Services Born from Human Resources Investment
3. Revenue Contribution of New Services Born from the Investment in Human Resources New FinTech services that have been developed to date are expected to contribute to earnings in earnest in the fiscal year ending March 2031. 1. Owner's card Marginal profit (31.3) 2. Dental credit 3. Freelancer card
Slide 78: Transformation of FinTech Revenue Structure
Transformation of FinTech Revenue Structure We will hedge against the negative effects of rising interest rates through the transformation of the revenue structure, so that high growth in transaction volume and profits can be achieved. ■ Image of the transformation of the FinTech revenue structure S
Slide 79: Reduction of corporate assets
4. Reduction of corporate assets We have gradually sold policy stocks since the establishment of the CG Guidelines in December 2015, and will continue to sell the remaining stocks. ■ Changes in the number of policy stocks and the amount on B/S 400 30 (Number of stocks) 350 18 25 Number of 20 stocks
Slide 80: Key KPIs of the Next Medium-Term Management Plan
Key KPIs of the Next Medium-Term Management Plan Group's total transaction volume Re-acceleration of ¥10 trillion 10 FY ending March growth 2031 Future 9 Industry CAGR 8 +5 - 6% ROE 17 - 20% 25% or more 7 6 PBR 3-4 5 times 5 ¥5 trillion times or more 4 3 25.3 31.3 (Plan) (Plan) 80
Slide 81: Future Plans
Future Plans Specific business To be explained at the IR Day in strategies December 2024. Next medium-term Scheduled to be announced at the management plan financial results briefing in May 2025. 81
Slide 82: Toward a Suki Economy
Toward a “Suki” Economy ©ZUTOMAYO ©[NOiD] / murffin discs ©SBH ©琉球ゴールデンキングス ©nagano / chiikawa committee Ⓒ 2024 SANRIO CO., LTD. APPROVAL NO. L652082 ©カラー ©尾田栄一郎／集英社・フジテレビ・東映アニメーション © SQUARE ENIX CHARACTER DESIGN: TETSUYA NOMURA / ROBERTO FERRARI ©CAPCOM 本資料に掲載しております将来の予測に関する記述は、当社が現在入手している情報及び合理的であ
Slide 83: Appendix
Appendix 83
Slide 84: Improvement of Consolidated ROE
Improvement of Consolidated ROE We aim for consolidated ROE of 17% or more in the fiscal year ending March 2031 through company-wide corporate asset reduction and capital optimization, in addition to retail and FinTech measures. Improve transaction volume and profit margin through a Net Consolidated
Slide 85: Bad debt
Bad debt Although the balance of receivables is increasing, the amount of bad debt write-offs is being controlled, and the bad debt ratio is transitioning at the same level as pre-covid at 0.9%. ■6000 Changes in Ratio of bad debt write-offs 1.2 1.04 （%）（％） 0.96 1.0 5000 0.93 1 ＊ 0.90% 0.85 0.84 （Bil
Slide 86: Changes in the Number of Customers Coming to Stores (Existing Stores)
Changes in the Number of Customers Coming to Stores (Existing Stores) The number of customers coming to stores increased steadily to 92.41 million (104% compared to the previous year). ■ Number of customers coming to existing stores 88 92% 81 （million） VS. FY2019 92.41million 10,000 （YoY104％） 5,000
Slide 87: Affiliate commission rates
Affiliate commission rates Affiliate commission rates for the first half of the year increased by 0.01% year-on-year to 1.22%, and have been stable. ■ Affiliate commission rates （%） 1.25 1.25 1.24 1.24 1.22 1.22% 1.21 1.21 1H 2H 1H 2H 1H 2H 1H 22.3 FY2022 23.3 FY2023 24.3 FY2024 25.3 FY2025 * Ratio
Slide 88: Rent guarantee status
Rent guarantee status Operating revenue increased by 18% to 9.1 billion yen due to an increase in transactions. ■ Transition of operating revenue （Billion 100 yen） 9.1billion yen （YoY 118%） 9 7.7billion yen （YoY 116%） 0 FY2020 2Q FY2022 2Q FY2023 2Q FY2024 2Q FY2025 2Q 88
Slide 89: Status of Interest Repayment
Status of Interest Repayment Although the volume of leading indicators is on a downward trend, we will continue to monitor trends closely. ■ Transition of interest repayment and year-on-year comparison of repayments received （%） 120 100 （Billion yen） 80 1.515 67% Year-on-year growth in inbound high-
Slide 90: END
END Marut Group
Marui Group Co Ltd Ord — Q2 2025 Earnings Presentation on 6ix