ASICS is a global sports brand founded in Kobe, Japan in 1949.

This Integrated Report looks back on the first year of the Mid-Term Plan 2026 and introduces details of the ASICS “head-on management” approach to directly and diligently engaging in dialogue with capital markets.

Centered on the theme of “ASICS keeps on running,” the company provides insight into ASICS’s progress towards new value creation.

The MS&AD Group is a global insurance and financial group, operating in 48 countries and regions around the world. With the mission of “contributing to the development of a vibrant society and helping to secure a sound future for the planet,” we conduct operations based on the principle of Creating Shared Value (CSV). Through messages from the CxOs and Directors, MS&AD Integrated Report 2025 introduces the Group’s vision for fiscal year 2030, clarifies the Group’s priorities and challenges in achieving this vision, and outlines the Group’s sustainable growth story.

The Kao Integrated Report communicates to our key stakeholders the challenges we are addressing as we strive to become “a company that is essential to a sustainable society” and outlines our plans to achieve this goal. This year, we offer a closer look at Kao’s dynamic progress under our Mid-term Plan K27, highlighting how our employees are driving impact through the Global Sharp Top strategy and scrum team approach to create new value. We hope this report deepens your understanding of Kao and serves as a strong foundation to spark meaningful dialogue and value - added collaboration with our stakeholders.

Rooted in the Sumitomo Spirit and the Sumitomo Electric Group Corporate Principles, and guided by the enduring management policy of “contributing to society through fair business activities,” the Sumitomo Electric Group is committed to enhancing corporate value over the medium to long term. The Group will steadily distribute and return the results as a going concern to its five main stakeholders – employees, customers, suppliers, communities, and shareholders/investors – in line with the Multistakeholder Capitalism concept of “Goho Yoshi” (Five-Way Win), thereby pursuing further sustainable development.

Sompo Group P&C insurance business operations span across 29 countries around the world. In Japan, the Group is also engaged in the life insurance business, nursing care business, and health support services. In 2025, the Group adopted an operating structure that consolidates operations into two business segments, SOMPO P&C and SOMPO Wellbeing, as it aims to fulfill its Purpose: For a future of health, wellbeing, and financial protection. From this fiscal year, sustainability information is integrated into the integrated Annual report. Through Integrated Annual Report 2025, the Group CEO and other members of senior management convey Sompo Group’s value creation aimed at realizing its Group Purpose and provides a comprehensive introduction of the Group’s sustainability initiatives.

We convey how Taikisha is heading towards the future from the perspective of the 10-Year Plan 2035 and the Medium-Term Business Plan newly disclosed in this Integrated Report. This Report features various examples introducing how we are advancing current initiatives in a way that incorporates our Goals into strategy and links those Goals to our future prospects. We also focused on enhancing non-financial information to highlight our initiatives related to Innovative Engineering and Global Inclusion, which are core themes related to our Goals.

Centered on the cement business, mineral resources business and environmental business in Japan and all over the world, Taiheiyo Cement Group is a global enterprise that strives to be a leading company in the Pacific Rim.

The main concept of Taiheiyo Cement Report 2025 is to produce an integrated report contributes to the maximization of corporate value. Beginning with a message from top management, the Report is configured to easily convey the Group’s progress on business strategy and sustainability management, and the status of Group capitals and governance. To ensure ease of reading, this Report is compiled based on advice and external evaluations from various external partners.

Takasago Thermal Engineering,mainly covering HVAC system construction and its peripheral fields, has pursued in technological advancement through designs and construction living up to customers’ trust and the development and operation of optimum systems and devices. We are challenging even more value creation under our Group Purpose: “With our revolutionary environmental innovations, we activate the Earth’s future.”

TAKASAGO CORPORATE REPORT 2025 introduces the company’s progress on growth strategies, including tackling lunar hydrogen and oxygen production, improving productivity using T-Base®, achieving carbon neutrality business, strengthening our human capital, and enhancing our governance system, etc.

Through this report, Takasago Thermal Engineering aims to provide stakeholders a greater understanding of its business activities and initiatives for the future.

TDK, which celebrates the 90th anniversary of its founding this year, has transformed its business portfolio and achieved growth over the years. TDK has achieved this by respecting the cultures of M&A companies and having them “United” with the Company, rather than simply by “integrating” these companies. At the driving force of the TDK United is the concept of “functional equality", the unique corporate culture that has been deeply rooted for many years. Returning to this unique perspective of “Respect Diversity – TDK United,” from this fiscal year the company has changed the name of its integrated report to the “TDK United Report”. This Report is structured around three key elements – maximizing free cash flow (FCF), reducing the cost of capital, and increasing the expected growth rate – to outline how the efforts of TDK United members are contributing to enhancing corporate value.

Since its founding in 1901, dentsu has endeavored to contribute to the creation and development of a vibrant society as a company that recognizes people as its greatest assets. Under its current B2B2S (Business-to-Business-to-Society) management policy, dentsu will continue working together with clients to resolve social issues.

This report is intended to provide all stakeholders, including shareholders and investors, with a deeper understanding of dentsu’s medium- to long-term strategies and efforts to create and enhance corporate value based on activities in both financial and non-financial areas. The report provides a strategic overview of our new Mid-Term Management Plan (2025–2027) announced in February 2025, which aims to realign our business portfolio and refocus our capital and people into priority businesses to regain our competitive edge.

Embracing its mission of “Bringing value to life.”, the NYK Group is dedicated to supporting society and creating value through a robust logistics network. In October 2025, the Group celebrated the 140th anniversary of its founding — a journey that began with maritime shipping and has since expanded into a comprehensive global logistics enterprise encompassing land and air transportation.

This report acts as a strategic communication platform to foster meaningful dialogue with investors. It outlines the NYK Group's medium- to long-term strategy for enhancing corporate value, using a logic tree to provide a structural breakdown of the strategies and policies within the Group’s medium-term management plan.

Honda has published the Honda Report 2025 to outline its path toward sustainable growth and the enhancement of corporate value over the medium- to long-term. Through this Integrated Report, we emphasize how we are leveraging our strengths to adapt amid major shifts in the business environment, and reaffirm our commitment to contribute to society through mobility to address the societal issues related to the environment and safety.

Even when faced with barriers that anyone would consider difficult, we believe in “the Power of Dreams,” and without ever letting our passion fade, we continue to persevere, taking on and overcoming challenges together with our associates. Even today, Honda’s DNA continues to be passed down from management to associates on the front lines. The report features the aspirations and pursuits of each associate, demonstrating how the DNA is embodied throughout the organization.

Under our Mid-Term Management Strategy GC2027, Marubeni aims to achieve a market capitalization of over JPY 10 trillion by FYE 3/2031. Beyond that horizon, we aspire to become a value-creation group with a robust portfolio that goes beyond the boundaries of a Sogo Shosha, targeting global excellence by benchmarking the world's leading companies.

Marubeni Integrated Report 2025 explains our approach in detail, including focused capital allocation to Strategic Platform Businesses that embody our winning strategy, initiatives to enhance capital efficiency and reduce the CoE, and the operation of a highly effective, best-in-class governance framework.

Last year, we celebrated the 150th anniversary of our founding. Over our long
history, we have accumulated various technology and experience centered on
nonferrous metals such as zinc, lead, and copper, materials that are essential to
industry. Our corporate slogan, “Taking full advantage of Material Intelligence,”
reflects our commitment to leveraging our unique knowledge towards utilizing the
blessings of the Earth to create products and businesses that contribute to the well-
being of the world. Through our annual Integrated Report, we strive to convey how
we have been able to build such a long history of success and how we intend to
continue creating value moving forward.