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President and CEO, Representative Director

Embracing Change, Driving Growth: A New Decade for the PPIH Group
To our valued shareholders,
Thank you for your continued support and trust in our company. My name is Hideki Moriya, and as of September 26, 2025, I have assumed the role of President and Chief Executive Officer of Pan Pacific International Holdings.
In recent years, rapid shifts in society and consumer behavior have brought growing uncertainty. However, at PPIH, we've embraced these changes under our corporate philosophy, Genryu (The Source), by proactively creating change rather than simply reacting to it--and turning that change into opportunity. For us, adapting to change is not a challenge, but our strength. We thrive in dynamic environments and are confident in our ability to keep evolving.
We've just launched our new long-term business plan: Double Impact 2035. Over the next decade, we expect moderate growth in Japan's consumer market, alongside significant shifts in the business landscape. We see every one of these changes as a chance to grow.
As for our overseas business, our current projections are based on a minimum growth outlook. To achieve sustainable growth overseas, we need a clear, customer-approved store model and highly efficient operations. We're already seeing success in select regions, and the outlook is becoming more promising. Over the next year, we'll refine our strategy to position our overseas business as a core driver of future growth.
To execute the long-term business plan, we will focus on 3 key management principles:
Fast Decision-Making
Even with 90,000 employees, we pride ourselves on having the fastest decision-making process in Japan. We also believe we have the largest number of people with decision-making authority. We will continue to build systems that maintain this speed and ensure that our structure supports.
Building a Truly Optimal Team-Based Management System
At PPIH, individual talent has always been exceptionally strong. Therefore, ordinary collaboration and cooperation alone are not enough to unlock our full potential. The greatest results come when individuals resonate with one another--when they are truly aligned and inspired to co-create.Until now, our management style has focused on maximizing individual capabilities through a competitive meritocracy. Going forward, we will combine this with a new philosophy: meritocracy through resonating co-creation, expressed in Japanese as Kyoso Seika Shugi (響創成果主義). By forming teams that resonate and create together, we will place this approach at the heart of our management strategy and embody the next-generation, battle-ready PPIH Group.
Strategic Investment through Selection and Focus
In addition to organic growth, we plan to invest approximately ¥1.2 trillion over the next 10 years in a wide range of growth opportunities, including new businesses and M&A. By revisiting our standards for investment recovery periods and reevaluating how we allocate capital across business segments, we will be able to make sufficient investments not only in existing growth areas but also in projects with future potential, while accepting the possibility of failure.To all our shareholders, I sincerely ask for your continued support as we embark on this exciting new chapter.
Sincerely,
Hideki Moriya
President & CEO, Representative Director
Pan Pacific International Holdings
Career
COO and Representative Director

Harnessing Change to Build Growth: Driving Our Long-Term Vision
To our valued shareholders,
Thank you for your continued trust and support in our company. My name is Kosuke Suzuki, and as of September 26, 2025, I have assumed the role of Chief Operating Officer of Pan Pacific International Holdings.
Upon assuming the role of COO, I would first like to express my commitment to putting our Group's founding principle and management philosophy, Genryu Management, into practice, and to ensuring it is faithfully passed on to the next generation. Even in an era of rapid change, we will remain true to this foundation and continue to drive sustainable growth while enhancing corporate value.
Japan's economic landscape is changing rapidly. Rising inflation, declining real wages, and shifting consumer priorities are reshaping demand. Consumers are increasingly seeking "better products at lower prices," highlighting the enduring relevance of the discount retail model. At the same time, structural trends, such as the rise of dual-income households and growing demand for time-saving, present new growth opportunities. By responding decisively to these changes, we can turn them into powerful drivers of our future growth.
Our domestic strategy will continue to accelerate the growth engines we have built over time, including new store expansion, tax-free sales strategy, PB/OEM development, and the majica app strategy. In addition, given recent environmental shifts mentioned earlier, we see the food category as a key growth driver. We will strengthen our prepared food strategy and introduce a new format, Food-Focused Don Quijote, to expand the total market we can reach.
While MEGA Don Quijote, Apita, and Piago already offer fresh foods, our penetration in this market remains limited. Traditional Don Quijote stores, designed for broad catchment areas, have yet to become the first choice for customers' daily essentials shopping. The new Food-Focused Don Quijote format will address this gap by creating community-based stores that drive higher purchase frequency and customer loyalty.
We are confident that the quantitative targets in our new long-term business plan are within reach, and we invite you to look forward to the continued growth of our Company.
Finally, we extend our sincere appreciation for your ongoing support and look forward to earning your continued confidence as we move ahead.
Sincerely,
Kosuke Suzuki
COO and Representative Director
Pan Pacific International Holdings
Career