Marui Group (8252) Investor Day 2025 summary

Main-card adoption and app

• FY2031.3 targets: main-card rate 35% vs 22% in FY2025.3 and transaction volume ¥10tn vs ¥5tn.

• Main-card status requires at least 33% of household spending excluding rent; recurring payments, e-commerce and smartphone payments account for 27%, with another 6% from other spending reaching the threshold.

• App-member main-card adoption is 27% vs 12% for non-app members; FY2031.3 app targets are 75% of all cardmembers and 85% of shopping-active members. Main-card LTV is 8.4x non-main-card LTV.

• App UX features real-time alerts, spending thresholds, payment simulations and automatic expense categorization to address budgeting concerns; gamified quests promote service discovery.

• Since launch in Apr 2021, card transaction growth reached 342 vs 235 for the industry by FY2025.3; installment/revolving share was 11.5% vs 5.5%. In the prior midterm plan, rent payments grew 1.9x, recurring payments 1.5x, e-commerce 1.7x and smartphone payments 2.8x.

Expansion of the Suki-support business

• “Likes” initiatives rose from 88 to 130 and membership from 1.01m to 1.26m between 2Q FY2025.3 and 2Q FY2026.3; a “likes premium” tier offers gold-card-level credit limits of ¥500,000 or more and initiative-specific benefits.

• FY2031.3 plans call for 2,600 annual events, double FY2025.3’s 1,300, and 800,000 new members through events, 2.4x the prior level.

• In-house goods sales target ¥12bn in FY2031.3 vs ¥0.5bn in FY2026.3; expansion includes wholesale and overseas sales, and interests beyond traditional oshikatsu, including pets and sports.

• New-member acquisition targets include 12m card enrollments by FY2031 and annual acquisition of 1.2m vs 820,000 in FY2025.3, supported by wider events and the “likes” business.

• EPOS card share is 16% in the Tokyo metropolitan area vs 5% elsewhere; matching the metropolitan share outside the region represents potential for 9m new members. Resources will shift toward nationwide Suki-support events and related merchandise.

Digital development and investment

• Digital and IT investment for FY2026.3–FY2031.3 is planned at ¥92bn cumulatively, with an annual average 1.4x the FY2021.3–FY2025.3 period.

• Development is shifting from waterfall to agile for app and web releases; marui unite centralizes decisions, budget, approvals and scheduling to accelerate delivery.

• M & C SYSTEMS, Muture and marui unite collaborate across group-wide DX, spanning core-systems operations, enterprise-wide DX support, and app and web development.

• Specialist hiring, market-aligned pay, improved development environments and AI-enabled workflows are intended to strengthen in-house technical capabilities.