We refer to our corporate philosophy as PMWV.
Purpose: Enriching communication and inspiring moments of joy.
Mission: To provide space and opportunity for truly meaningful connections.
The MIXI Way (guiding principle for decision making): User surprise first.
Values (compass for action): Innovation, Passion, Integrity

Based on our PMWV, we develop communication-based businesses and conduct a diverse mix of business operations. Furthermore, we have expanded our business scope to areas such as Digital Entertainment, Lifestyle, Sports, and Investment.
Our Mission of providing space and opportunity for truly meaningful connections supports us in realizing our Purpose of enriching communication and inspiring moments of joy. We provide space and opportunity for truly meaningful connections by releasing communication services. The human capital working on these services are some of our most important assets as they create value and give us a competitive edge, so we proactively invest in them.

In order to realize our human capital management goal of “continuous creation and operation of communication services unique to MIXI”, we have positioned PMWV awareness and demonstration of corporate ability as the pillar of our human resource strategy.

By organically interconnecting each measure with our human resource strategy, we work to maximize the value of human capital and realize continuous creation and operation of communication services unique to MIXI.

PMWV awareness

We redefined our philosophy and established PMWV in April 2022. Achieving PMWV awareness means that all MIXI employees share the same goals and values and are committed to achieving them. We aim to have each of our employees deeply identify with PMWV and proactively take action.

⬩ Survey results, current issues, and future actions
We have taken the following measures to promote PMWV awareness.

Creating atmosphere through design
Using our company’s creativity, the design of our equipment and facilities incorporate PMWV. The objective is to raise awareness of PMWV by adding PMWV touchpoints and foster a sense of unity within the company through unified design.

• Design revamps for company-wide morning meetings
• Design revamps for presentation slides
• Creative production for new graduate inductions
• Design creation for MIXI AWARD
• Renewal of the company cafeteria signage

Communication from upper management
Led by our management team, we actively communicate about PMWV through both internal media, such as the company newsletter and company-wide general meetings, and external media, such as articles.
In addition, we strengthened communication through the organizational hierarchy by adding an item on PMWV communication to the 360-degree feedback of chief general managers and general managers, and are facilitating faster understanding and communication of the current state of affairs.

MIXI AWARD (internal award event)
Once a year, we hold an internal award event called MIXI AWARD. Since FY2023, PMWV has been used as a selection criterion, and awards have been given to individuals and teams that embody PMWV, based on employee recommendations. By showcasing PMWV in the reasons why we choose recipients, we hope to spread understanding of PMWV and increase motivation.
We are pleased to see the number of recommendations increasing each year, as shown below.

	FY2023	FY2024	FY2025
Number of recommendations for the Values Award	140	279	378

We conduct an internal survey once a year to evaluate PMWV awareness in order to measure the effectiveness of the aforementioned initiatives as well as to understand whether each employee deeply identifies with PMWV and can proactively take action.
For the survey conducted in FY2025, the figures for recognition, understanding, and identification were all above 80%.
Although each of these items only increased slightly from the previous year, we are pleased about the significant increase in the number of responses collected, which rose from 690 to 1285 (response rate: over 98%) thanks to improvements in our survey method.

	FY2023	FY2024	FY2025	FY2026(Target)
Recognition	69.8%	84.3%	86.2%	100%
Understanding	74.8%	85.7%	86.8%	95% or more
Identification	70.8%	76.9%	82.0%	90% or more
Action	56.5%	67.1%	68.3%	85% or more

However, the figure measuring action remained around 68%. We regard the translation of PMWV into actionable behavior as both a challenge and a potential growth opportunity for PMWV awareness.
We believe that factors for this low figure lie in the difficulty of seeing the connection between PMWV and one’s own work, as well as a lack of opportunities where it can be perceived as personally relevant. As such, we consider it necessary to strengthen the connection between PMWV and one’s own actions.　
To address these issues and work towards actions related to PMWV awareness, we are considering the following initiatives.

• Introduction of an evaluation system more closely linked to PMWV
• Conducting workshops that promote taking action
• Planning and creating video creatives that encourage taking action
• Developing and implementing outer branding which instills PMWV awareness in employees

2) Demonstration of corporate ability

The goal of the demonstration of corporate ability is the creation of communication services unique to MIXI and the preparation for long-term operation on an individual and group level.

2-1) Creating human resources which can drive success

The goal of creating “human resources which can drive success” is to continuously produce individuals with the capabilities necessary to create and sustain communication services unique to MIXI in the long term. Additionally, we classify these human resources into the following three types based on their roles and scope.

• Future management: Individuals who have the ability to make decisions from a management perspective and drive forward the entire organization
• Business leaders/operators: Key personnel who play a central role in new and existing businesses
• MIXI-like value creators: Individuals who can recreate and sustain value which is unique to MIXI. We aim to ensure that all employees understand the common elements of MCS (MIXI-like Communication Services) while enabling business leaders to implement these elements in their work

One of our strategies for producing “human resources which can drive success” is the formalization and sharing of “the path to success” (i.e. the mindset and actions that lead to the creation of communication services and businesses that captivate the world), alongside the training and placement of personnel capable of taking on this task.
Specific human resource measures include the following.

⬩ Succession plans
⬩ Assignment and training for key personnel of businesses
⬩ Standardization of MCS (MIXI-like Communication Services)
Details of each measure are provided below.

⬩ Succession plans
To continuously create and operate MIXI-like communication services, it is essential to have management who not only support day-to-day business operations but can also adapt to changes in uncertain environments and lead the creation of long-term value. The systematic training and selection of future management personnel is one of the key areas of our human capital strategy.　
To give one specific initiative, we hold training meetings twice a year for senior corporate officers, corporate officers, and chief general managers. Those for corporate officers and chief general managers also include MIXI’s executive succession plan. (The Company considers directors and senior corporate officers to be executives because corporate officers and chief general managers are the candidates to become executives for the following generation.) As of March 31, 2025, there were seven succession candidates for management positions (chief general managers and corporate officers). Moving forward, we plan to set numerical targets and develop each of our measures.
Additionally, in FY2025, our corporate management was particularly focused on the candidates for CEO, an integral position among management. To establish a pool of successors, we have been developing a succession road map, as well as evaluation criteria and desirable characteristics for a president and CEO.

From FY2026 onward, we will focus on establishing operational frameworks, such as for successor candidate selection and the formulation and implementation of training plans.
In addition, we have defined the roles of managers at each level for organizational management and are continuously working on enhancing the capabilities of management (managers and general managers) to ensure that each of them appropriately fulfills their role.

• 360-degree feedback based on the duties for each position
• Provision of learning opportunities for individual issues
• Follow-up measures for newly appointed managers
• English education focused on high-level positions

⬩ Assignment and training for key personnel of businesses
In order to be able to flexibly assign key personnel who are vital to business strategies, we are first working on developing systems and organizational culture which enhance workforce mobility. In contrast to the traditional transfer culture with limitations, we focus on initiatives centered around reassignment from a human resources perspective (assigning based on potential and employee preference).
The main driver of this effort is our HRBP, which visualizes the capabilities, preferences, and training of personnel in each section of business, allowing for strategic personnel placement which utilizes “training through reallocation”, thereby enhancing the fluidity of our internal labor market.
Furthermore, we operate an internal recruiting system called MCC (MIXI CAREER CHALLENGE) aimed at ensuring the right people are in the right positions. This system provides opportunities for employees to take on new challenges by disclosing the requirements for available positions in priority areas based on business strategies or where there is a shortage of personnel.
In addition, we are working on a training support program that centers around enhancing project management skills (PM skills) for individuals expected to become business leaders or project leaders in the future. We are also working to increase the number of personnel who are able to lead product development.

⬩ Standardization of MCS
To continually create and operate MCS (MIXI-like Communication Services) such as the social network mixi and MONSTER STRIKE, a dedicated team was established in our HR Department in April 2025. This team reviews services that created new communication culture such as the social network mixi, MONSTER STRIKE, and FamilyAlbum. The team asks themselves “What is MCS?” and works to redefine and clarify the essence and values of MCS. Through these initiatives, we aim to establish systems for human resource development and business development that support the creation and operation of MCS. This leads to the cultivation of individuals who are passionately committed to the challenge of innovating, which raises the reproducibility of MCS.
We refined action plans for these initiatives in FY2025 and will continue to pursue initiatives in line with the plans below.

	FY2026	FY2027	By the end of FY2029
Company-wide deployment of MCS	・Design concepts, programs, and KPIs for MCS human resource development ・Implement training programs for young workers (future leaders)	・Carry out and improve MCS human resource development programs ・Conceptualize and create connections with human resource management	Aim for continuous execution of training and assignment of personnel in line with business plans (short-, medium-, and long-term) through the PDCA cycle described to the left
Improving business execution	・Plan and implement training programs to develop more employees capable of leading product development	・Strategically assign key personnel for businesses ・Create an environment that promotes the creation of new businesses (provide opportunity)

2-2) Maximizing performance

Our goal for maximizing performance is to draw out the full potential of each employee and be able to convert this potential into both autonomous growth and organizational results. In our business, which requires creativity to continuously meet the changing expectations of users and society, we believe it is essential to develop an engrossing environment where collaboration occurs, individual abilities can be exercised, and value creation is fostered.

Specific human resource measures include the following.
⬩ Fostering job satisfaction
⬩ Employee engagement
⬩ Maintaining a comfortable work environment

Details of each measure are provided below.

⬩ Fostering job satisfaction
At MIXI, we believe that job satisfaction stems from each employee feeling a sense of purpose while taking on challenges and having their growth and achievements fairly recognized. Job satisfaction is driven not only by the environment and rewards but also by the feeling of personal growth and the acknowledgment of contributions.
We are committed to enhancing job satisfaction for our employees by providing ample growth opportunities and ensuring fair treatment based on their achievements.

Development measures
At MIXI, we view the growth of each employee as a source of sustainable corporate growth and innovation and are committed to supporting development from both organizational and autonomous perspectives.
We provide training and other development opportunities for employees ranging from new graduates to managers at levels according to their role and stage of growth, as well as internal and external learning opportunities and career support.
In addition, we promote highly individualized development through on-site support from HRBP and training meetings.

• Implementation of training meetings and succession plans (twice a year)
• Discussions on human resource development at departmental-level training meetings (led by HRBP)
• Support for reviewing actions and roles through 360-degree feedback
• Implementation of managerial training, evaluator training, and new hire training
• Provision of guides and skill training for one-on-one meetings
• Elective training (with external cooperation) and subsidies for self-development expenses
• Post-assignment OJT and yearly follow-up training for new graduates

Through these initiatives, we aim to create an environment that fosters growth where employees are intrinsically motivated to be more active. The FY2026 budget for training and self-development expenses per employee is 107,445 yen for the whole fiscal year (10,174 yen higher than the previous year).

Total rewards
To raise employees’ job satisfaction and achieve sustainable growth and value creation, we are working to restructure compensation plans based on the concept of total rewards, which encompasses both monetary and non-monetary rewards.
Through a reward system that effectively combines a variety of rewards with clear messaging, we aim to possess and retain human resources, as well as strengthen desirable attitudes and actions of employees. This will contribute to the achievement of our management goals. We plan to proceed with detailed planning and preparation for a full-scale implementation of the system in FY2027. Additionally, we will strengthen the appeal of non-monetary rewards such as job satisfaction and sense of growth to create a virtuous cycle of recruitment, retention, and training.

⬩ Employee engagement
Employee engagement measures employees’ identification with the company’s policies and plans and their drive to work with initiative and pride. This indicator has a correlation with their identification with PMWV, their performance level, and their personal sense of growth.

Engagement survey overview
We conduct annual engagement surveys of all employees. Past survey results confirm that engagement scores in our company are associated with employee performance and turnover rate. The results of the survey, feedback, and action plans for high priority issues are given to management and each internal structure to improve engagement throughout the company. The results of the survey are communicated and disclosed to the entire company. The response rate for FY2025 was 98%.

Survey results and company strengths (points to maintain), and company growth potential (points to strengthen/improve)
The engagement score is the total percentage of positive responses to the three questions in the survey regarding “willingness to contribute voluntarily”, “attachment to and pride in the company”, and “sense of accomplishment through work”.
Engagement scores for the past three years are shown below, with the FY2025 results reaching the target of 75%. We consider our current level to be above satisfactory, and for FY2026, we have set a target of maintaining or exceeding the current level of 75%.

FY2023	FY2024	FY2025	FY2026(Target)
67%	72%	75%	75% or more

Company strengths (points to maintain)
When viewing items with a high positive response rate (70% or higher) among items that highly-correlate with engagement scores, we see that one of our strengths lies in job satisfaction where “a well-prepared work environment in tandem with good interpersonal relationships leads to many employees who are properly recognized and evaluated for their performance and show high levels of engagement with work”.

Specifically, we have received high positive response rates regarding the following.

• “I can freely express my opinions” (84%)
• “My direct supervisor respects me” (82%)
• “I receive proper recognition when I do good work” (81%)

Based on these results, we believe that our work environment allows each employee to feel secure in expressing their opinions, constructively engage in their work, and have a trusting relationship with their supervisor.

Company growth potential (points to strengthen/improve)
When viewing items with a low positive response rate among items that highly correlate with engagement scores, the greatest area for improvement lies in “management’s approach to communicating and listening”.
The reasons behind this issue include insufficient communication of management policies and decision-making intentions to affected employees, as well as limited opportunities for information flow and dialogue throughout company ranks. In particular, we believe that one bottleneck is due to discrepancies in communication and understanding among the managerial staff, who are positioned between top management and their employees. To address this, we have implemented initiatives such as the following.

• Opportunities for group discussions amongst managers
• Strengthened management information sharing for general managers
• Review of the operation of regular meetings aimed at aligning perspectives with top management

Through these initiatives, the positive response rate among managers for the aforementioned set of questions improved by 10 percent. However, as the scores still indicate room for improvement, we will continue to improve opportunities for communication from management. Additionally, we will advance efforts to bring managers, who serve as a connector between top management and workers, closer to top management in order to strengthen information dissemination across organizational levels.

	FY2024	FY2025	FY2026 (target)
Whole company	42%	49%	–
Management (managers and above)	31%	41%	50%
Non-management	45%	51%	–

　⬩ Comfortable work environment
We promote the creation of a workplace environment where each employee can continue to work with peace of mind and in good mental and physical health, while accommodating the diverse values and lives of each employee. We aim to achieve an environment where individual abilities can be maximized by increasing flexibility in working location, hours, and systems, as well as by developing various measures to help people balance their careers and lives, and improve and maintain their health.

Our main initiatives are as follows.

・Flexible work systems (Marble Work / Marble Location / Full Flex)
As of FY2025, 53 individuals were living in distant locations and 185 individuals were utilizing the Marble Location system.

・Increase of retirement age and life planning support
We increased the mandatory retirement age to 65, with reemployment possible up to 70. Additionally, we have started offering life planning and money seminars for all employees.

・Expansion of childcare support system
The introduction of a shortened working hours flextime system allows employees to balance work and childcare more flexibly. Parental leave rates are 100% for women and 52.4% for men (FY2025 results).

・Review of the leave system
We have reviewed our leave system and decided to establish care leave, expand reserve leave to include family planning activities and providing nursing care for family members, and continue offering special leave called MIXIBREAK every five years of service.

・Promotion of health management
We were recognized for the third consecutive year by the Certified Health & Productivity Management Outstanding Organizations Recognition Program 2025. In addition, we are preparing to introduce stress checks, infection control measures, health literacy training, and a health management system.　

2-3) Building an organization that promotes the creation and deepening of businesses
Our goal is to build a business foundation capable of continuous value creation through the coexistence of organizational diversity and teamwork. In an environment that demands innovation, we believe that an organizational structure where individuals with different knowledge and backgrounds collaborate is the driver of business growth, rather than relying solely on the capabilities of individuals.

Specific human resource measures include the following.

⬩ Ensuring diversity
⬩ Strengthening team capabilities
⬩ Thorough compliance education

Details of each measure are provided below.

⬩ Ensuring diversity
“Diversity, equity, and inclusion” is one of our material issues, and we are creating a culture that uses the advantages diversity brings. While we will make continuous efforts to promote diversity, specific targets will be set with an eye to optimizing the organizational structure in line with our strategy, policies, and business growth. Currently, we are closely monitoring the appointment of women, mid-career employees, and foreign employees to management positions, and the status is as follows.

	Percentage of total employees	Percentage of management positions	Percentage of employees up to assistant manager-level positions
Female	33.0%	16.8%	23.7%
Mid-career employees	87.1%	90.9%	90.2%
Foreign employees	3.7%	1.4%	2.5%

We had set a goal of achieving at least 17% of management positions to be occupied by women by the end of March 2025. However, the actual percentage fell slightly short of our target at 16.8%.
Moving forward, we aim to increase the ratio of female managers to 20% or higher. To ensure that a diverse variety of individuals, regardless of gender, can demonstrate their ambition and ability, we will continue initiatives focused on training and elevating employees.
We are undertaking initiatives to create a comfortable working environment for a diverse workforce. Every year, all employees are required to undergo e-learning, which encourages employees to respect each other not only in terms of gender, nationality, and cultural diversity, but also in terms of sexual orientation, gender identity, values, and lifestyle.
In addition, our employment regulations clearly stipulate respect for gender diversity (LGBTQ+). In addition to prohibiting unwanted sexual behavior and discrimination, under our “Definition of Partnership Equivalent to Marriage”, we treat partners in same-sex marriages the same as those in opposite-sex marriages and provide monetary marriage gifts and leave for celebrations/bereavement in the same manner.
The ratio of female employees in MIXI Group are as follows. Due to the difference in HR systems for each company, we currently only have non-consolidated targets. We will begin establishing group-wide targets and action plans in stages.

Percentage of total employees	Percentage of management positions	Percentage of employees up to assistant manager-level positions
31.5%	16.4%	22.7%

⬩ Strengthening team capabilities
In addition to improving the performance of individual employees, the following initiatives are being undertaken to ensure that our employees are capable of delivering results as a team.

Team building training
In addition to training to directors, senior corporate officers, and chief general managers, we provide training, mainly for managers who lead businesses and organizations, that lets participants experience the importance of team building and improve interactions between managers as well as parts of the company. We also assist training participants in implementing team-building initiatives in their own part of the company.

Improving the onboarding process
For mid-career employees, the HR Department conducts a general orientation on the first day of employment. The orientation consists of a video message from the president, an introduction to our corporate philosophy, a tour of the office, and explanations of the tools used throughout the company. We have established a system in which employees can always access necessary information, internal systems, and rules on a dedicated website for new employees.
Once new employees start work, their section’s onboarding process begins. Those in charge of onboarding and HR communicate in advance and collaborate using their methodology and expertise for the onboarding process. Onboarding status is monitored by HR through interviews held one month / three months after employment.

Various systems
We partially subsidize the cost of social and team building opportunities for each part of the company. We also have an internal club system to promote interaction outside of work.

⬩ Thorough compliance education
As part of our compliance training, we provide crisis management training via e-learning. The training is targeted at all employees, and we achieve a 100% participation rate every year. The content of the crisis management training consists of eight required courses on topics such as compliance basics, business conduct guidelines, information security, and harassment prevention training.

_{※The following information regarding human capital for the relevant fiscal years pertains solely to MIXI, Inc.}