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Investor Presentaiton

We will earn the trust of our customers as a whole group by aiming for ultimate safety levels as our top priority. We will strengthen our network capabilities focusing on technologies and information, and we are committed to helping our customers and people in communities to realize affluent lives. 2. Changes to the Business Environment Although we expect that COVID-19 will subdue to a certain extent, people in Japan and abroad will become more active, and customer usage will steadily recover in the future, the level of usage will not fully return to what it was prior to COVID-19 due to the transformation in people's lifestyles. In addition, there are concerns about risks such as rising prices and interest rates, supply constraints, and fluctuations in the financial and capital markets. In addition, over the medium to long term, Japan's population is anticipated to further decline and age. At the same time, significant changes to the business environment are expected, including automated operation and other technological innovations as well as changes in globalization. Further, as more than 36 years have passed since its establishment, the Group faces various changes, including changes to railway systems and the rapid transition to the next generation of employees. 3. Medium-Term Management Strategies The Group had been managing its operations in line with the "Move Up" 2027 management vision in anticipation of changes to its business environment, but in September 2020, based on our belief that customer use of railways will not return to the pre-COVID-19 level, the Group announced Speed Up "Move Up" 2027, a policy tailored to the post- COVID-19 society. In addition to steadily implementing various measures, we will accelerate our progress toward the realization of "Move Up" 2027, especially in fiscal 2023, by making a major mode change to an aggressive stance and working to create new value. The Group will combine physical networks, an area of the Group's strength, and digital technologies. In conjunction, the Group will evolve the railway-centered business model by placing greater emphasis on people and work to reform our corporate structure. In addition, we will work to create value by integrating the three businesses of transportation services, lifestyle services, and IT & Suica services, and transform our business portfolio by proactively allocating management resources to businesses with large growth potential. Through these efforts, we aim to achieve a ratio of 5:5 as soon as possible between the "Mobility Business” centered on railroads and “Lifestyle Solutions Business" for our customers. 4. Management Benchmarks In our Group management vision “Move Up" 2027, we had set numerical targets for fiscal 2025, but considering the subsequent changes in the management environment, which 42
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