Concept 2016 Zensho Group Corporate Profile Providing the world with safe, delicious at affordable prices

As the top food service enterprise in Japan, Zensho processes including ingredient procurement, plays a vital role in the nation’s food provision infra- manufacturing and logistics. To conduct this with structure. Both in Japan and overseas, Zensho serves a complete accountability, Zensho has created a unique diverse range of great-tasting at its in source-to-customer business model and promotes it for the gyudon (beef bowl), family dining and continuous innovation in every process from design categories. Fully committed to providing safe and deli- planning to operation. Zensho’s vision is to provide cious food, Zensho conducts meticulous food manage- safe, delicious food to as many people as possible, ment not only in restaurants but also in all other throughout the world. 558.8 billion 4th Stage Aiming to be the world’s top Apr. 2014 to present 525.7 4,952 Striving to make new dramatic progress to become 511.8 the leader of the global food industry, while focus- food company ing on four priority areas for the 4th stage, namely, domestic food services, overseas food services, 4,812 retail and nursing care. By 2019, the company aims 4,792 Founded in 1982, over the last 34 years Zensho has Becoming the largest food service company in Japan to reach consolidated sales of 612.2 billion yen and 468.3 operating income of 22.8 billion yen. 4,730 grown into a corporate group with about 4,800 restau- was a significant milestone in Zensho’s quest to realize 4,629 rants and other retail locations. Annual sales have its corporate mission, which is to become the No. 1 reached 525.7 billion yen. After being listed on the Sec- food company in the world, in order to help eradicate ond Section of the Tokyo Stock Exchange in 1999, global hunger and poverty. Our top position in Japan 3rd Stage 4,314 417.5 Zensho’s sales grew by a factor of 30 over the 16 years serves as a foundation for further growth. Our real From June 2006 4,144 402.9 since 2000. Zensho has firmly established itself at the work has just begun. Opened 2,200 directly managed retail locations, with top position among food service companies in Japan. 82% of the investment coming from operating cash 3,934 flow. As of March 31, 2014, the consolidated group

has 4,792 stores and annual sales of 468.3 billion yen. 370.7 3,648

2nd Stage 334.1 From Sept. 1999

3,120 310.1 Achieved sales of 149.2 billion yen for the year ended March 31, 2006, through acquisition of 14 companies including Coco’s Japan in July 2000. 2,861 282.4

1st Stage Establishment

Ever since its founding, Zensho has developed Suki- ZENSHO SUMMARY (as of March 31, 2016) ya restaurants across Japan and laid the foundation for its mass-merchandising system (MMD). The in- 204.5 itial annual sales of 90 million yen grew by a factor of about 200 to 17.4 billion yen by the year ended 1, 9 0 0 Consolidated sales March 31, 2000.

525.7 billion yen 1,499 149.2

1, 3 0 6 125.3 Consolidated operating profit 1,152 112.1 12.1 billion yen

704 74.2

620 Number of retail locations 60.1

(including 197 outside Japan) 34.6 4,812 261 222 175 194 Number of 14 4 155 retail locations 2 15.2 17.4 11.7 13.5 Consolidated 0.09 10.2 11.2 sales Newly opened retail locations (billion yen) 1983 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 （forecast） (including 62 outside Japan) 140 1st Stage 2nd Stage 3rd Stage 4th Stage Establishment From Sept. 1999 From June 2006 Apr. 2014 to present 03 *Figures as of March 31 of the relevant fiscal year 04 “Our goal is to become the world’s No. 1 company in the food industry a position from which we can Achieving No. 1 in sales in Management philosophy Japan is just the beginning inspires our efforts help eradicate hunger On March 31, 2016, the Zensho Group posted net Although Japan’s food service market is said to be sales of 525.7 billion yen and had 4,812 retail locations shrinking, our main focus is fast food, which has worldwide. While being the No. 1 food service grown by 800 billion yen in the last 14 years. and poverty from the world.” company in Japan by sales, Zensho also ranks among Meanwhile, there is a decline in traditional the top-ten food service companies in the world. establishments such as ryokan inns and pubs. We are proud of these achievements, but our ultimate Major restructuring is occurring in the industry. Zensho’s corporate mission to eradicate hunger and Yet this is the mission that has brought the Zensho goal will require more efforts. Although Zensho leads Many people have asked about the reason behind poverty from the world may appear like a lofty goal for Group together to become the largest food service the food service industry in Japan, it only accounts for Zensho’s remarkable growth. Let me answer that a company that operates popular restaurants serving company in Japan. Our next step is to become the top 2% of total sales in the 24 trillion yen food market. question without equivocation. Our growth is due to delicious food. food company in the world. Looking at other industries, top companies in the our unwavering founding vision to eradicate hunger automotive sector control about 20% or 30% of their and poverty from the world, which has enabled us to markets. It is clear that the industrialization of Japan’s attract various talented employees that truly share food service sector is still far behind that of other this vision and work with passion to materialize this sectors. We would first like to change this structure every day. and become the top food service company in the Each year, roughly 14 million people worldwide world, just as Japanese carmakers have risen to the top lose their lives to starvation. However, this is not in their global market. We believe this is exactly the due to an overall lack of food. The world produces step we need to take to move closer to fulfilling our enough food to sustain the global population of 7.3 founding vision, “to eradicate hunger and poverty billion. Unfortunately too much food ends up in from the world.” developed countries where it sells for higher prices. Although our sales grew by a factor of about 30 since This kind of uneven distribution is the biggest 2000, we still need more growth to realize our mission. factor in food insecurity and hunger in developing With our JASDAQ listing in 1997, our countries. In order to eradicate hunger and poverty CEO, Zensho Group creditworthiness increased, thereby supporting our from the world, we need to eliminate food waste rapid growth. The Zensho Group then expanded and inefficiency. That is why Zensho was Kentaro Ogawa through acquisition of a variety of businesses. founded—to create a sustainable mechanism that Although many people see Zensho as a group that will prevent food shortages in all circumstances. grew through M&A, the driving force behind our Most companies have some sort of management growth has been more through the opening of new philosophy or mission, but frankly, they do not mean retail locations. Reflecting on Zensho’s investments much unless the founder believes in them. Everyone since 2007, while M&A accounted for only 20% of at Zensho truly believes that we can help eradicate its investment, the opening of directly managed hunger and poverty from the world and in so doing, company outlets accounted for the remaining 80%. launch a new era in human history. It is due to our Opening new retail locations is similar to planting people’s earnest efforts to achieve this ultimate goal seeds one by one by hand in a rice paddy. Thorough that we have been able to achieve such dramatic 30- investigation must be carried out for each new fold growth in just 16 years. before it can be opened. In the 3rd stage, As we strive to achieve our goal, our employees which began in June 2006, a total of 2,200 directly grow stronger in the process of overcoming managed retail locations were opened. Instead of using individual challenges. Even though we have the franchise system to open new locations, Zensho reached a large size, we have remained capable of believes in the direct management of its carrying out dynamic organizational changes with establishments. We believe this is the best way to fulfill flexibility at each new stage of our development. our responsibilities to customers for safety, reliability Through this process, the organizational flexibility and quality of the food we serve. and the skills developed by individual employees have become great assets for our enterprise. That is why we believe we can become the top food company in the world.

05 06 realize our vision of eradicating hunger and Starting with a poverty worldwide. rewarding purpose 4th stage priority areas: In order to provide safe, reliable food, utmost care must be taken to ensure total purity from domestic / overseas food contaminants such as BSE, hazardous chemicals or services, retail and nursing care radioactive materials. Food safety management is the highest priority for the Zensho Group. In 2005, In April 2014, Zensho entered the 4th stage, we established a Food Safety Pursuing Unit (now positioning it as a new period of growth. Proportion of total population the Group Food Safety Pursuing Division) followed undernourished In the 1st stage, which began with the company’s （2014-2016） by a Central Research Center in 2006 to perform founding, the initial annual sales of 90 million yen our own food inspection and analysis. In the laid the foundation for Zensho’s MMD system, Very low (4.9% or less) following year, we established an annex in China to while expanding Sukiya across Japan. By the year Moderately low (5% to 14.9%) perform our food inspection in the country. ending March 31, 2000, the company had grown by Moderately high (15% to 24.9%) Through the introduction of the industry’s most a factor of about 200, achieving sales of 17.4 billion High (25% to 34.9%) advanced analysis equipment, Zensho checks every yen. Very high (35% or more) day for contaminants such as pesticide residues, In the 2nd stage, which began in September 1999, No data / insufficient data heavy metals and radiation. Zensho acquired 14 companies including Coco’s

Source: World Food As an initiative with an even longer term perspective, Japan in July 2000, and sales reached 149.2 billion Programme (WFP) we directly operate a ranch called Zenshoen in Taiki- yen by March 31, 2006. www.wfp.org town in Hokkaido Prefecture. As a pilot farm of the In the 3rd stage, launched in June 2006, Zensho Zensho Group, it conducts research on the best ways opened 2,200 directly managed retail locations, The Zensho Group has created its own mass- contribute to humanity by helping eradicate hunger to feed and raise cattle and on vegetable and rice and 82% of the investment came from operating merchandising system (MMD) to perform and poverty. varieties in order to match them to the best growing cash flow. management of everything from raw material The more the company expands globally, the more locations and improve quality. In the 4th stage, which started in April 2014, by procurement to processing, logistics and sales. The its essential spirit and culture, as well as the In order to help producers in developing countries, focusing on the four priority areas of domestic food MMD system forms the foundation of our character of its employees, are tested. In recent Zensho was early to adopt fair trade products. This services, overseas food services, retail and nursing management, and it has integrated our mission into history, Japan has achieved rapid growth by learning involves ongoing direct purchases from producers in care, Zensho has been aiming to make dramatic actual daily operations. For instance, we strive to and imitating Western technology and thinking. In developing countries at reasonable prices. The aim is new progress and become the top company in the completely eliminate food waste and inefficiency the 21st century, however, I believe we will have to to improve the livelihoods of disadvantaged farmers global food industry. and to provide customers with safe and reliable create and export uniquely Japanese products and and laborers in these countries. Zensho buys fair When a company grows and enters a new phase, food at even more affordable prices. In order to services, as well as our own work methods, division- trade agricultural products such as coffee beans at issues which have been overlooked often come to achieve these goals, we decided that we had to of-labor mechanisms and organizational forms. fair prices that include a social premium surcharge. light. At the Zensho Group, we are determined to design and create mechanisms to handle all the Of , our employees will need skills that are The premium goes toward improving the living tackle issues like this head on, as we take the next processes from ingredient procurement to food different from those they have used in the past. We conditions for people in the production area. step toward providing all of our employees with a sales, and to do the hard work of carrying out these require even more human resources that can think Currently Zensho buys fair-trade products from 18 level of work and life satisfaction they can’t find operations ourselves. for themselves and take responsibility for their own different countries. For example, the social anywhere else. In fact, this is one of the keys to This system has achieved great results in Japan, decisions. We will also have to change from the premiums paid by Zensho support health programs providing value to our shareholders and trading and our goal now is to take it worldwide. A global traditional top-down management style to one that for mothers and young children in Tanzania and partners, and I am confident that we will continue presence will bring us much closer to realizing our is more like a soccer team, where each member has construction of drinking water infrastructure and to do that. vision of eradicating hunger and poverty from the personal vision and imagination and is able to think primary schools in Rwanda. world. We realize that we have a long way to go. and take action independently. Eventually, Zensho plans to set up its MMD Once employees are used to thinking and acting system in these developing countries and create a Taking on the global market of independently, they can develop management skills food infrastructure that can provide safe food for that work in any business area. By cultivating a big everyone. Although there are challenges involved in 7.3 billion people team of these human resources, we can ensure that establishing agricultural and livestock businesses in the company never wavers in its mission of developing countries, such as securing water As of March 31, 2016, Zensho has 197 retail eradicating hunger and poverty from the world, resources, a solution can always be found by locations outside Japan, and the company plans to even after I retire. I believe that, with a group of thinking carefully and through diligent work. The open many more at a faster pace. By expanding out spirited employees who really believe in our most realistic approach is to develop crops that are of the Japanese market of 120 million people, mission, we can replicate dedicated teams around ideally suited to each individual climate and to Zensho is beginning full-scale development of a the world who can, in turn, set up the Zensho organize worldwide production accordingly, while market that is about 60 times larger—the global MMD system in 200 countries and regions applying the best practices for agricultural and market of 7.3 billion people. By establishing our worldwide. Ambitious goals like these make livestock farming. If this kind of food infrastructure MMD system in 200 countries and regions Zensho thrive. can be built around the world, it would create more worldwide, we want to provide people everywhere employment in many countries, and workers lives with safe, convenient, delicious food. With a strong would be enriched through the added value of their global presence, we will be better positioned to labor. This initiative is part of our effort to

07 08 Expanding Zensho’s MMD System Wor ld w id e

Zensho’s mass merchandising system (MMD) allows for the entire group, Zensho is able to eliminate inter- the company to fulfill its mission to “provide safe, deli- mediate steps, in turn offering customers delicious cious food to people around the world at affordable food at reasonable prices. The MMD system forms the prices.” Zensho plans, designs and operates MMD sys- foundation of Zensho’s business, and it is the driving tems that integrate everything from procurement of force behind the company’s breakthrough successes.

raw ingredients to manufacturing, processing, logistics Zensho is now expanding its MMD beyond Japan Nursing Care and retail sales. The MMD system enables Zensho to with its sights set on the entire world, seeking to pro- Retail procure safe, high-quality raw ingredients at stable and vide an essential food infrastructure for all humanity. appropriate prices. By centrally procuring ingredients

Ingredients from Procurement Manufacturing Logistics around the world GFF Co., Ltd. Sanbishi Co., Ltd. Zensho Tradings Co., Ltd. Yamatomosuisan Co., Ltd. Global Fresh Supply Co., Ltd. Zenshoen Co., Ltd. Pocino Company TR Factory Co., Ltd.

Zensho has built a very stable sup- A stable supply of fresh ingredi- Safe, fresh food is sent to restau- ply system by seeking out safe, ents is prepared and processed rants, 24 hours a day, 365 days a Food Service Crops high-quality ingredients worldwide at 30 Zensho Group plants across year, from 33 distribution centers and cultivating reliable procure- Japan. The plants practice just- across Japan. Only the amounts At the final stage of the MMD system, the restaurants serve safe, delicious meals ment channels. Zensho also sends in-time production based on needed are delivered to restau- to customers. Zensho creates the design for each chain by itself, selecting all the staff to visit actual production production plans and daily sales rants at four different temperature details such as interior and exterior decoration, such as gyudon bowls, sites to check things in person to forecasts. This avoids surplus in- levels: frozen, refrigerated, room as well as fixtures and fittings. The Zensho Group spares no effort to provide cus- ensure full traceability. The com- ventory and ensures that custom- temperature and ultra-low temper- tomers with sincere service and an enjoyable dining experience. pany’s efforts also include offering ers can always enjoy the freshest ature. This ensures thorough con- technical cooperation and making food. trol of quality and freshness. capital investments.

Seafood Livestock Restaurants （Japan / Overseas）

Techno Support Co., Ltd. Zensho Best Crew Co., Ltd. Retail location design and Personnel support Support construction management Zensho Business Service Co., Ltd. companies Global IT Service Co., Ltd. Human resources development and support IT service Zensho CooCa Co., Ltd. Global Table Supply Co., Ltd. Electronic money issuer Fixtures and fittings ILA M N fe a O

C

09 10 Visit the website for Zensho’s Food Safety Initiatives more information Food Safety Zensho Search

Zensho’s Strict Safety Standards Japan Group Food Safety Pursuing Division

Zensho regards food safety as its highest priority. It the center performs rigorous safety testing. It con- set up a Food Safety Pursuing Unit (now the Group firms that the farms and production factories meet Food Safety Pursuing Division) in 2005, followed Zensho Group’s own food safety standards. Its staff by a Central Research Center in 2006. The center is travel to the site to carry out inspections in person. equipped with state-of-the-art analysis devices like They perform independent food safety tests for ag- no other in Japan’s food service industry. The rochemical residues and other potential hazards and Central Research Center performs a range of analyze soil and water quality to ensure high safety inspections and analyses, including checks for standards are met. residual agrochemicals in agricultural, livestock and Further, when domestically produced agricultural fishery products, veterinary drugs, hazardous or livestock products are used in Zensho Group’s substances such as heavy metals, genetically modi- outlets, we carry out on-going tests for radioactive fied crops and radioactive materials. When we newly residue to ensure that they meet our own stringent Scientific Management procure ingredients, whether from Japan or overseas, safety standards. of Food Safety Zensho Safe-feed Cattle Program World

There are various ongoing threats to food safety have not been given any feed that might cause BSE worldwide, such as incidents of “mad cow disease” infection. These healthy cattle are then certified as (bovine spongiform encephalopathy, or BSE), residual SFC. The program is based on Zensho’s ability to as- agrochemicals and radioactive contamination. certain the history of livestock destined for Zensho at Zensho ensures the safety of its food using strict stan- a supplier’s ranch or processing plant. This history in- dards so that customers can always enjoy delicious cludes each steer’s life history from its birthplace till food with peace of mind. its shipment. Under the company’s SFC program, One example of Zensho’s safety commitment in- Zensho employees inspect production sites in person volves U.S. beef. In order to procure BSE-free beef, to perform certification. They carefully check for legal Zensho has introduced its own beef management compliance at farms and processing plants including program called Zensho Safe-feed Cattle (SFC). This inspection systems to ensure the removal of specific program involves documenting the dates and loca- risk material. Only beef checked for safety reachs our tions of cattle births and ensuring that the animals Zensho .

Zensho’s Own Control Program

Breeding Farm Fattening Farm Processing Plant Transportation Zensho Plant

✓ Documentation of ✓ Reception of calves ✓ Confirmation of age in months ✓ Transportation ✓ Hygiene control and growing conditions and Birth record / safety feed certificate ✓ Check that the health of cattle temperature temperature control feed ✓ Ear tag is maintained ✓ Inspection for ✓ Calf production record ✓ Grain-heavy formula ✓ Removal of specified-risk harmful bacteria Cattle feed mill / ingredients of a feed materials mix / history of feed given / inspection HACCP-based hygiene and (inspect whether the feed contains ✓ cattle protein, such as meat-and-bone temperature control ) ✓ Inspection for harmful bacteria

11 Visit the website for more information Fair Trade Zensho Search Zensho’s Global Expansion Thailand To cater to Malaysia’s majority Muslim population, we serve halal-certified food, adhering to Islam- ic law and food preparation. In order to provide In China, Zensho operates 147 Sukiya restau- the world’s first and only halal-certified gyudon rants. After starting in Shanghai, Sukiya began beef-rice bowl, Sukiya Malaysia devised ways to a full-scale expansion in China in 2012 with new process its beef and procure seasonings such as locations opening in Tianjin, Beijing and oth- that meet the certification criteria. We er cities. Zensho has positioned China as the received halal certification in November 2014. Rwanda launch pad for its worldwide expansion. Natu- rally, Zensho ensures that food safe- ty, reliability, delicious taste, Tanzania speed and service levels in China are just as high Tanzania began selling fair trade coffee to Zensho in as those in Japan. Countries where 2009. It is grown by two grower cooperatives near Zensho promotes Kilimanjaro in the country’s north. Social devel- fair trade opment funds* are added to each sale, and these The Chingwa grower cooperative in Rwanda, Thailand and Japan have long shared certain (18 countries as of March 31, 2016) cultural similarities. In May 2011, the first Suki- funds are used to train field workers for a program which began selling fair trade coffee to Zensho in ya restaurant in Thailand was opened in a large designed to improve the health of mothers and chil- Kenya December 2011, used social development funds shopping center in suburban Bangkok. Thai peo- dren in this coffee growing region. The workers give Uganda to build joint infrastructure to supply water to ple love Sukiya’s gyudon for its tender beef and advice to expecting mothers to help them protect Rwanda 6,000 village residents. This has freed the children Burundi delicious rice. Sukiya Thailand also has a strong their own health and that of their babies. from the task of fetching water, which used to take Tanzania them an hour or more each day. An elementary reputation for speed and quality. Malaysia Malawi Democratic Republic of school classroom with a solar panel was also built. the Congo China India Sri Lanka Nepal East Timor Papua New Guinea Brazil Mexico Cuba Costa Rica Nicaragua Ecuador Peru Ecuador Mexico Peru Sukiya has thirteen restaurants In the region of Cascol in Manabí, Ecuador, where In September 2013, in the country, mainly located in Zensho began to trade JAS certified organic cof- a Sukiya restaurant was Brazil’s largest city, São Paulo. Su- fee in November 2011, there is a plan to renovate opened in Mexico City, an economic and cultur- kiya is a popular choice among the community educational facilities across 58 villages. In the Since November 2010, Zensho has been buying al hub for Central America with a population of of Japanese Brazilians, who number more than mountain villages, there are not enough school JAS certified organic fair trade coffee and cocoa 20 million. Zensho plans to keep opening locally one million. Non-Japanese Brazilian customers buildings; in order to stem the flow of young people powder from Peru. Social development funds tailored restaurants here to let many more people have also been increasing as well. Zensho aims from the villages there are plans to build 13 primary were used to build a library in the coffee growing enjoy the great taste of Sukiya’s gyudon. to open restaurants that welcome every customer schools and 15 classrooms in seven villages. This region. In the cacao producing area, a to come in and enjoy the Japanese . initiative will vastly improve the educational envi- was renovated at a kindergarten and new play ronment for local residents. equipment was installed.

A Popular Japanese Comfort Food Fair Trade for Global Sustainable with Global Ambitions Development Sukiya expands around the world Zensho practices fair trade

Gyudon has become a national food that the Jap- Brazil, Thailand, Malaysia, Mexico, Taiwan, Indo- The Zensho Group serves and sells imported fair and stable production brings revenue and technology anese people cannot live without. It contains rice, nesia and Vietnam. Zensho plans to aggressively trade coffee, and cocoa at its restaurants and retail to producers, helping to make them economically in- the ultimate grain for its good balance of amino open new locations in the future. While opening locations. While fair trade products tend to have a dependent. Through these long-term supply relation- acids; beef, the crown of domesticated meats; and new locations overseas, Zensho is also setting up higher final selling price, they are still chosen by con- ships, Zensho also secures a stable supply of good soy sauce, the best seasoning obtained through its MMD system, a mechanism perfected through sumers for their social contribution value. Zensho’s quality ingredients, which it can offer to customers at fermentation. The exquisite harmony produced day-to-day operations in Japan, in countries out- commitment to fair trade is not just about providing reasonable prices. This is truly a business model of by these three ingredients is catching on around side of Japan. This creates a safe, efficient food- in “aid,” but rather about developing a long-term rela- mutually beneficial long-term development. the world. frastructure in the countries concerned. Zensho’s tionship with producers for the purpose of mutual While expanding the number of its fair trade items The Zensho Group has been expanding the Suki- aspiration is to help enrich the lives of people liv- growth and development. Zensho employees regular- and producer countries, Zensho will also focus on ya gyudon chain globally. As of July 31, 2016, ing everywhere. ly travel to the production regions to meet directly human resources development in the countries and there are a total of 197 Sukiya locations in China, with the grower groups. They check the growth of the regions concerned, so that producers can use their

Note: All location numbers are current as of July 31, 2016. crops and provide technical guidance when needed revenues to invest in and manage things that the on cultivation and production. Quality improvement country or region needs.

*Social development funds, also called a social premium, are added on top of the price of goods with the understanding that they will be used for projects to enhance local living standards. 13 14 Family Dining Coco’s Family dining restaurants

Originating in the U.S., Coco’s restaurants are found across Japan, mainly in the Kanto and Kansai regions. It offers popular items such as Coco’s Beef Hamburger Steak, and Hamburger en Papil- lote. There is also a “Premium Bar” with an extensive selection, and customers can count on friendly service provided with a smile. Coco’s de- livers peace of mind by offering safe food and a comfortable dining environment to everyone from Locations :570 children to seniors. (including 492 directly managed locations) Restaurants, El Torito Stores and Delicious Foods Mexican cuisine restaurants After bringing California’s largest Mexican restau- rant chain directly to Japan, Zensho made sure that Offering the pleasure of choice to even more customers El Torito offers authentic Mexican cuisine that also appeals to Japanese tastes. The specialty is fajitas with freshly grilled tortillas, as well as frozen mar- Starting with Sukiya, Japan’s leading chain of gyudon (beef bowl) restaurants garitas, the most popular cocktail. This is the place to enjoy an extraordinary food experience in a res- by number of locations, Zensho offers a great selection of dining options, in- taurant filled with the atmosphere of sunny Mexico. cluding family dining restaurants specializing in hamburger steaks, pasta, Jap- Locations :5 anese cuisine and yakiniku , as well as fast food outlets such as coffee shops, udon and ramen noodle shops and conveyor-belt restaurants. Al- ways prioritizing food safety, Zensho’s network of dining establishments con- tinues to expand both in and outside of Japan. Big Boy Steaks and hamburger steaks

With 277 locations across Japan, from Hokkaido to Kyushu, Big Boy focuses on grilled foods including steaks and hamburger steaks. The popular, hand- made Tegone Hamburger Steaks are individually mixed in-store for a juicy, delicious texture. With a variety of all-you-can-eat options, such as the salad bar, soup bar and curry, Big Boy appeals to a wide range of customers. Locations :277 Gyudon

Sukiya Victoria Station Japan’s leading gyudon chain Steaks and hamburger steaks

Sukiya is Japan’s leading gyudon chain by number of Offering a of steaks and hamburger steaks, locations. Sukiya offers delicious beef bowl dishes the Victoria Station chain operates 45 restaurants at affordable prices with great service. Customers across Japan, with the largest number of loca- can choose between casual counter seating or ta- tions in Hokkaido. Popular menu choices include a bles for families and small groups. Sukiya restau- beef sirloin steak, where carefully selected beef is rants are open all day and operate year-round, every served in a thick, satisfying portion as in the original day, serving gyudon to order. Sukiya will continue to restaurant. In addition to the safe, delicious meat open new restaurants, to provide delicious food to Locations :1,969 dishes, the popular salad bar offers an abundance even more people. (As of March 31, 2016; the date also applies of fresh vegetables. for all data on restaurants listed hereafter ) Locations :45

Nakau Jolly Pasta Purely Japanese-style fast food chain Italian cuisine

The affordable Nakau chain of restaurants satisfies Jolly Pasta offers 40 kinds of authentic spaghetti customers with delicious rice bowl dishes and Kyo- dishes, and the pasta is cooked especially for each to-style udon dishes. The classic oyako rice bowl order. There are a wide variety of pastas at afforda- is made by hand in each restaurant using Nakau’s ble prices, and the noodles are made from carefully own broth and carefully selected eggs, with just the selected 100% durum semolina flour. Jolly Pasta right touch of seasoning. It is a that rivals those serves authentic pasta at its best. Fair trade coffee of specialty restaurants. It is especially delicious with is also available at the drink bar. a bowl of Nakau’s exquisite udon noodles in a Kansai-style broth. Locations :470 (including 455 directly managed locations) Locations :225 15 16 Family Dining Washoku Yohei Fast Food Service Japanese cuisine Denmaru

Hanaya Yohei is a Japanese-style restaurant chain Ramen restaurants located in Tokyo and four other prefectures, serv- Denmaru is a chain of Hokkaido-style ramen noodle ing authentic Edo-style sushi, shabu-shabu hotpot restaurants in the Kanto region. The restaurant’s pop- made with domestic beef and many other tasty Jap- ularity derives from its distinct and delicious soup, anese dishes made with seasonal ingredients. made from chicken stock and using several types of miso with vegetables and spices. In addition to the Washoku Yohei, with its comfortable tatami seating safety and reliability of the ingredients, customers love areas and casual shabu-shabu-based menu, offers the option of getting an extra portion of ramen noodles. a new dining style where all customers are warmly A variety of side including fried rice and gyoza welcomed, whether they come alone or in a large Hanaya Yohei Locations : 137 dumplings are also available. The restaurants feature family group. Washoku Yohei Locations :14 booth seating, ideal for families with young children. Locations :59

Gyuan Kyubeiya Shabu-shabu, yakiniku and sukiyaki Udon, tempura and shabu-shabu

A restaurant chain specializing in meat dishes where This chain of specialty udon shops makes noodles customers can enjoy shabu-shabu hotpot, yakiniku in-house from a unique blend of flour and serves and sukiyaki made from choice beef and seasonal them in a slowly simmered broth flavored with care- ingredients, Gyuan serves beef specially selected fully selected kombu kelp and five kinds of fish. It for its flavor at a reasonable price. The party course also serves tempura, prepared fresh for every order. features an all-you-can-eat menu of your favorite Based on the concept of a “menu based on safe, re- dishes. Enjoy the variety of delicious flavors. liable ingredients with a taste that only Kyubeiya can create,” this chain serves udon with an emphasis on good ingredients. Locations :22 Locations :50

Ichiban Seto Udon Yakiniku restaurants Sanuki-style udon

Yakiniku Club Ichiban is the perfect place for fam- This Sanuki-style udon restaurant is popular for its ilies and groups to enjoy yakiniku, Japanese-style freshly prepared udon noodles that are crafted in the barbecue, casually. While keeping prices reason- style developed in Sanuki, using good quality flour. able, Ichiban is proud to offer quality meat that Customers can select toppings such as crisp just- rivals those of an exclusive restaurant. Diners can fried tempura or a half-boiled egg to create their own choose from the yakiniku all-you-can-eat course or personal styles. The affordable prices and quick the a la carte menu to suit their preference. The service make Seto Udon great for a casual bite to restaurant has cozy and warm atmosphere. eat, any time. Locations :34 Locations :26

Takarajima Tamon’an Yakiniku restaurants Self-service Sanuki-style udon

Takarajima is perfect for families and groups of Tamon’an is a self-service udon noodle chain that friends who want to enjoy delicious yakiniku at a is expanding mainly in the food courts of shop- reasonable price. There are a wide variety of combo ping centers. The restaurant uses ingredients such meals, an affordable all-you-can-eat course and a as natural salt containing bittern and a flour blend wealth of a la carte menu options. This restaurant made from high-quality wheat processed using its chain appeals to a diverse range of customers for its own milling method. Tamon’an serves authentic Sa- food safety and reliability, as well as value, portion nuki-style udon with an emphasis on glistening noo- size and delicious taste. dles that retain a firm, smooth texture. Locations :11 Locations :37 (including 8 directly managed locations) Fast Food Service Hamazushi Moriva Coffee Conveyor-belt sushi Fair-trade café

The motto of Hamazushi conveyor-belt sushi is “Serv- Evoking the atmosphere of an enchanting beech for- ing safe and delicious sushi at an affordable price.” est, this chain of coffee shops seeks to give custom- Using only high-quality ingredients that have passed ers space to relax. Moriva Coffee uses only beans strict safety standards, it offers great value with that have been personally checked for safety and sushi at 100 yen per plate, or only 90 yen on week- quality by dedicated staff who visit the coffee fields. days. There are also 150 yen plates for special items At 170 yen (before tax), the price of a cup of coffee (all prices exclude tax). By leveraging the Zensho is quite reasonable. The popular Moriva Sandwiches Group’s economies of scale, Hamazushi has been are prepared fresh for every order. aggressively opening new locations with the goal of becoming Japan’s largest conveyor-belt sushi chain. Locations :432 Locations :17

17 18 Others United Veggies Maruya Fruit and vegetable stores Supporting the lifestyles offering safety and reliability of local customers United Veggies operates greengrocer and florist Maruya is a supermarket chain offering fresh foods shops from the Kanto to the Sanyo region. These mainly in Saitama and Chiba prefectures. With the convenient fruit and vegetable stores are located motto of “developing stores that are loved and in train station buildings, supermarkets, shopping trusted by local communities,” Maruya provides ZENSHO centers and discount stores. The fruit and vegeta- safe, good-quality food while also pursuing the bles purchased by customers every day are safe most affordable prices. With an atmosphere that is and of dependably good quality, yet eminently af- inviting and makes visitors feel at home, Maruya su- New Service fordable. permarkets are committed to enabling customers to buy what they need and as much as they need, NEWS Locations : whenever they need it. Launch of ZENSHO CooCa 38 Locations :31 New initiatives Prepaid and Points Card by the Zensho Group In November 2015, the Zensho Group launched the ZEN- SHO CooCa prepaid and points card service, which can be used at Zensho Group restaurants. In addition to speed- Yamaguchi Supermarket Maruei ing up payment, cardholders earn CooCa points for their Using the catchphrase, Providing fresh products purchases. Collected points can be exchanged for CooCa coupons that can be used when paying for food. As of May “Happy Tables, 365 Days a Year” at affordable prices 31, 2016, the ZENSHO CooCa card was accepted at some This supermarket is managed by Maruya Co., Ltd. This supermarket has expanded mainly around 2,900 Group restaurants including Sukiya, Coco’s, Hama- Located in Ashikaga, Tochigi Prefecture, Yamaguchi Ichihara, Chiba Prefecture. It offers a wide range zushi, Takarajima and many others. has expanded to eight stores around the city. As of fresh vegetables and seasonal fish caught lo- a supermarket with a proud history going back to cally. The company’s motto is, “We provide fresh 1950s, Yamaguchi’s activities are rooted in the lo- products at a low price,” and it is committed to cal community, and it supports local customers with operating stores that are closely connected to the fresh produce and good prices. community and much loved over the years.

Locations :8 Locations :9

Very Foods Owariya Tolona Japan Creating an Environment Conducive to Good Work Seeking the very best flavors Distribution of pizzas and On-Site Kagayaki Childcare other food products Very Foods Owariya is a supermarket with 8 stores Established through a business alliance with Facility for Zensho Group across Chiba Prefecture. In order to offer the best Tolona of the U.S., Tolona Japan has been sell- Social Initiatives Involving Food products to its customers, it delivers products at ing pizza, pasta, salads, prepared foods and Employees their best season as quickly as possible. The Zensho popsicles. Utilizing its sales network across Group supports regional customers by selling safe, Japan, Tolona Japan also sells products from In September 2015, the Zensho Group opened the on-site Mobile Sukiya Kitchen Serves reliable and delicious products at low prices. Zensho Group plants, such as ready-to-serve Su- Kagayaki Nursery Tsukuba in Tsukuba City, Ibaraki Prefec- kiya-brand gyudon beef. ture. The nursery was established as part of the Group’s Kumamoto Earthquake Victims initiatives to support women in the workplace, offering affordable childcare services to employees working at The Zensho Group sent its mobile Sukiya kitchen to serve meals to victims of the Kumamoto Earthquake that hit Ja- Locations : Zensho Group restaurants and business locations. Expe- 8 rienced staff prepare healthy meals without using artificial pan in April 2016. The mobile kitchen was stationed for five flavorings, in appropriate portions and seasoned to appeal days at a local evacuation center and in that time served to young children. 8,561 meals including mini-gyudon and egg-topped rice. All Zensho Group restaurants that were affected by the earthquake reopened for business by April 29, providing area residents with warm meals as part of the food infra- Sanbishi Yamatomosuisan structure. Supporting Japanese food culture Fish cake products made with traditional seasonings from carefully selected ingredients Based on the belief that soy sauce is the best sea- Yamatomosuisan is headquartered in Shiogama, soning ever created, Sanbishi continues to develop Miyagi Prefecture. Using the mottos of “Pursu- its brewing techniques. Sanbishi provides custom- ing Great Taste” and “Commitment to Taste,” the ers with safe and reliable value-added products company delivers delicious Japanese fish cake such as the long-selling “Gold Label” soy sauce, products, including sasa-kamaboko, the local which is made using the traditional method and specialty. Yamatomosuisan continually pursues has been sold for more than 40 years, as well as new flavors, forms and preparation methods, while a low-salt product that pioneered the low-salt soy maintaining its traditional techniques. sauce market.

International Studies Fostering Human Assets to Contributing to the International Community Kagayaki Lead Friendly Japan-China Supporting comfortable senior living and Japan-Vietnam Relations Project to Supply Milk to

Kagayaki operates private nursing homes and other The Zensho Group financially supports a course that was Somali Refugees Completed seniors’ housing with services, mainly in Hokkaido. created by the University of Tokyo at the Vietnam National Southern Somalia was impacted by drought and famine in The company helps seniors to live enjoyable, stress- University, Hanoi, which aims to foster young and talented 2011, causing a large number of Somalis to seek refuge free and comfortable lives during their advanced Japan-related researchers in Vietnam. The Group also fi- in neighboring Kenya. From early 2012 through the end of years. With awareness as senior-care professionals, nancially supports a student exchange program between 2015, the Zensho Group operated a program to supply milk the employees of Kagayaki aim to provide peace of the University of Tokyo and Nanjing University, whose to children in refugee camps, feeding some 18,000 chil- mind, comfort, kindness, love, respect and dignity studies are aimed at fostering well-rounded individuals dren by distributing 1.84 million aseptic milk packs as part to their clients. who are both pro-China and pro-Japan. of school meals. The project has been discontinued as of 2015, as the situation has now stabilized with the Kenyan government introducing a plan to repatriate the refugees.

19 20 History Company Profile

June 1982 Zensho Co., Ltd. incorporated. Head Office and Yokohama Plant July 2007 With the opening of the first Sukiya (beef bowl restaurant) in Zensho Holdings Co., Ltd. Zensho Foods Malaysia Sdn. Bhd. established in Tsurumi-ku, Yokohama City, Kanagawa Prefecture. Okinawa Prefecture, Sukiya establishes presence in all 47 Head Office: Minato-ku, Tokyo Head Office: Taman Desaria, Petaling Jaya prefectures of Japan. Established: June 1982 July 1982 Namamugi location opened in Tsurumi-ku, Yokohama City, PT. ZENSHO INDONESIA Stock Listing: Listed on the First Section of Tokyo Stock Exchange Kanagawa Prefecture, as the first Lunchbox shop (a shop selling Jan. 2008 Zenshoen Co., Ltd. established. Head Office: Bekasi, Jawa Barat take-out boxed meals). Capital: ¥23,470 million June 2008 Global IT Service Co., Ltd. established to streamline information Number of Employees (consolidated): Zensho Vietnam Co., Ltd. Nov. 1982 Namamugi Ekimae location opened as the first Sukiya “inside of a system functions. Full time: 7,563, Part time: 48,072 as of March 31, 2016 Head Office: District 1, Ho Chi Minh City building” restaurant (beef bowl restaurant). Aug. 2008 Zensho do Brasil Comercio de Alimentos Ltda. established for Tel: +81-3-6833-1600 Zensho Food Singapore Pte. Ltd. Aug. 1986 Company Head Office moved to Higashi-kanagawa-cho (now business expansion. Website: http://www.zensho.co.jp/en/ Head Office: Ubi Road, Singapore Kanagawa-ku) in Kanagawa-ku, Yokohama City, Kanagawa Oct. 2008 Shares of Hanaya Yohei Co., Ltd. acquired for business expansion. Prefecture. Sep. 2009 The company merges with GM Foods to concentrate management Food Service (Japan) Retail Apr. 1987 Head Office moved to Kanagawa-ku (Tsuruya-cho), Yokohama resources and streamline management. City, Kanagawa Prefecture. Dec. 2009 Shares of Art Cafe Co., Ltd. acquired for business expansion. Sukiya Co., Ltd. Nihon Retail Holdings Co., Ltd. July 1987 Sukiya Mito location (in Mito City, Ibaraki Prefecture) opened as Head Office: Minato-ku, Tokyo Head Office: Minato-ku, Tokyo Mar. 2010 Full ownership of Nakau Co., Ltd. and Yamato Foods Co., the first Sukiya freestanding type restaurant. Tel: +81-3-5783-8850 Ltd. acquired through a share exchange to further expedite United Veggies Co. Inc. Jan. 1989 Head Office moved to Nishi-ku, Yokohama City, Kanagawa management decision making. Kita-Nihon Sukiya Co., Ltd. Head Office: Minato-ku, Tokyo Prefecture. Sep. 2010 The company merges with Gyuan Co., Ltd. to concentrate Head Office: Sendai-shi, Miyagi Prefecture Tel: +81-3-5425-2855 Aug. 1997 Zensho goes public on the OTC market. Tel: +81-22-722-0557 management resources and streamline management. Maruya Co., Ltd. Sep. 1999 Listed on the second section of Tokyo Stock Exchange. Increased Dec. 2010 Zensho Best Crew Co., Ltd. established to streamline part-time Kanto Sukiya Co., Ltd. Head Of ce: Kasukabe-shi, Saitama Prefecture capital by 4.8 billion yen through a public offering. job recruitment. Head Office: Saitama-shi, Saitama Prefecture Tel: +81-48-761-0808 Tel: +81-50-3772-1555 July 2000 Shares of Coco’s Japan Co., Ltd. acquired for business expansion. Feb. 2011 Zensho (Thailand) Co., Ltd. established for business expansion. Maruei Co., Ltd. Oct. 2000 Techno Support Co., Ltd. established to streamline furnishing and June 2011 All shares of Chicago Pizza Co., Ltd. transferred to CPH Co., Ltd. Tokyo Sukiya Co., Ltd. Head Of ce: Ichihara-shi, Chiba Prefecture maintenance. Head Office: Minato-ku, Tokyo Tel: +81-436-75-6365 Oct. 2011 Company name changed from Zensho Co., Ltd. to Zensho Tel: +81-50-3772-1558 Nov. 2000 Global Foods, Ltd. (now Zensho Tradings Co., Ltd.) established to Holdings Co., Ltd. with shift from holding-operating company to Owariya Co., Ltd. streamline ingredients procurement. holding company on October 1, 2011. Chubu Sukiya Co., Ltd. Head Of ce: Kisarazu-shi, Chiba Prefecture May 2001 Shares of Gyuan Co., Ltd. acquired for business expansion. Head Office: Nagoya-shi, Aichi Prefecture Tel: +81-438-20-6555 Zensho Food de Mexico, S.A. de C.V. established for business Tel: +81-50-3772-1561 July 2001 Head Office moved to Minato-ku, Tokyo. expansion. Kansai Sukiya Co., Ltd. Sep. 2001 Listed on the first section of Tokyo Stock Exchange. Dec. 2011 GFF Co., Ltd. established to enhance central kitchen functions. Nursing Care Head Office: Osaka-shi, Osaka Prefecture June 2002 Global Table Supply Co., Ltd. established to streamline supplies Mar. 2012 Zensho Foods Malaysia Sdn. Bhd. established for business Tel: +81-50-3772-1564 Kagayaki Co., Ltd. and equipment procurement. expansion. Head Of ce: Sapporo-shi, Hokkaido Prefecture Chu-Shikoku Sukiya Co., Ltd. Tel : +81-11-623-0027 Oct. 2002 Hamazushi Co., Ltd. established to manage conveyor-belt sushi Apr. 2012 Zensho Business Service Co., Ltd. established to promote Head Office: Hiroshima-shi, Hiroshima Prefecture restaurant business. employment and self-reliance support for people with disabilities. Tel: +81-50-3772-1567 Dec. 2002 Shares of Yamato Foods Co., Ltd. acquired for business June 2012 Shares of Tamon Foods Co., Ltd. acquired for business expansion. Support Companies Kyushu Sukiya Co., Ltd. expansion. Coco’s Japan Co., Ltd. (a Zensho consolidated July 2012 Zensho Fair Trade African Office established in Tanzania as a base Head Office: Fukuoka-shi, Fukuoka Prefecture subsidiary) acquires shares of Big Boy Japan, Inc. Techno Support Co., Ltd. for fair trade operations in Africa. Tel: +81-50-3772-1570 Head Of ce: Minato-ku, Tokyo / Tel: +81-3-6833-8029 Feb. 2004 Company Head Office moved to current location (2-18-1 Konan, Oct. 2012 Zensho Clean Energy Co., Ltd. established to generate, supply Nakau Co., Ltd. Minato-ku, Tokyo) to consolidate the headquarters function. Zensho Tradings Co., Ltd. and sell electric power from clean energy. Head Office: Minato-ku, Tokyo Head Of ce: Minato-ku, Tokyo / Tel: +81-3-6833-6675 Dec. 2004 Zensho America Corporation established for business expansion. Nov. 2012 Shares of Maruya Co., Ltd. acquired for business expansion. Tel: +81-3-6833-8820 Jan. 2005 Coco’s Japan Co., Ltd. (a Zensho consolidated subsidiary) Apr. 2013 Zensho Taiwan Co., Ltd and Pt. Zensho Indonesia established to Coco’s Japan Co., Ltd. Global Table Supply Co., Ltd. establishes Coco’s Shanghai Co., Ltd. (now Zensho Restaurant expand business. Head Office: Minato-ku, Tokyo Head Of ce: Minato-ku, Tokyo / Tel: +81-3-5783-8870 (Shanghai) Co., Ltd.) for business expansion. Sep. 2013 Yamatomosuisan Co., Ltd. acquired. Stock Listing: Listed on JASDAQ Mar. 2005 Shares of Nakau Co., Ltd. acquired for business expansion. Tel: +81-3-6833-8000 Global Fresh Supply Co., Ltd. Oct. 2013 Maruei Co., Ltd. acquired. Head Of ce: Minato-ku, Tokyo / Tel: +81-3-6833-6660 Sep. 2005 Food Safety Pursuing Unit (currently Group Food Safety Pursuing Big Boy Japan, Inc. Nov. 2013 Yamaguchi Supermarket acquired from Yamaguchi Honten Co., Division) established to enhance the approach to food safety. Head Office: Minato-ku, Tokyo Global IT Service Co., Ltd. Ltd. through business transfer. Mar. 2006 Shares of Takarajima Co., Ltd. and El Torito Japan Co., Ltd. which Tel: +81-3-6833-8001 Head Of ce: Minato-ku, Tokyo / Tel: +81-3-6833-8230 were spun off from Coco’s Japan Co., Ltd. (a Zensho consolidated Dec. 2013 Established Nihon Retail Holdings Co., Ltd. Hanaya Yohei Co., Ltd. GFF Co., Ltd. subsidiary), acquired for business expansion. Jan. 2014 Kagayaki, a nursing care services company (now Kagayaki Co., Head Office: Minato-ku, Tokyo Head Of ce: Minato-ku, Tokyo / Tel: +81-3-5783-8758 Apr. 2006 UD Foods Co., Ltd. (a Zensho consolidated subsidiary, now Ltd.) acquired. Tel: +81-3-6833-8580 Sanbishi Co., Ltd.) takes over the business rights of Sanbishi Co., Yamatomosuisan Co., Ltd. Mar. 2014 Capital increased by 26.7 billion yen through public offering. Jolly-Pasta Co., Ltd. Ltd. for business expansion. Maruya Co., Ltd. made into a wholly-owned subsidiary and Head Of ce: Shiogama-shi, Miyagi Prefecture Head Office: Minato-ku, Tokyo delisted. Tel +81-22-365-6231 May 2006 Full ownership of Catalina Restaurant Group Inc. acquired through Tel: +81-3-6833-8833 Zensho America Corporation (a Zensho consolidated subsidiary) June 2014 Sukiya divided into seven regional operating companies: Kita- Stock Listing: Lisned on the second section of Tokyo Sanbishi Co., Ltd. for business expansion. Company also acquires shares of Big Boy Nihon Sukiya, Kanto Sukiya, Tokyo Sukiya, Chubu Sukiya, Kansai Stock Exchange Head Of ce: Toyokawa-shi, Aichi Prefecture Japan Inc. and equity in Coco’s Restaurant (Shanghai) Co., Ltd. Sukiya, Chu-Shikoku Sukiya and Kyushu Sukiya. Tel: +81-533-72-3111 (now Zensho Restaurant (Shanghai) Co., Ltd.) from Coco’s Japan TAG-1 Co., Ltd. Aug. 2014 Shares of Owariya Co., Ltd. acquired. Head Office: Minato-ku, Tokyo Co., Ltd. (a Zensho consolidated subsidiary) to streamline group Tolona Japan Co., Ltd. Tel: +81-3-6833-4270 governance and increase efficiency. Oct. 2014 Name of Zensho Co., Ltd. changed to Sukiya Co., Ltd. Head Of ce: Minato-ku, Tokyo / Tel: +81-3-5461-7050 June 2006 Capital increased by 14.1 billion yen through a public offering. Mar. 2015 Catalina Restaurant Group Inc. sold. Hamazushi Co., Ltd. TR Factory Co., Ltd. Global Pizza System Co., Ltd. (predecessor of Tolona Japan Co., Apr. 2015 ZENSHO CooCa Co., Ltd. established to introduce proprietary Head Office: Minato-ku, Tokyo Head Of ce: Minato-ku, Tokyo / Tel: +81-3-6833-9501 Ltd.) established for business expansion. prepaid card system for Group restaurants. Tel: +81-3-6833-8032 Aug. 2006 Global Fresh Supply Co., Ltd. established with the goal of May 2015 Kagayaki Nursery Facilities Co., Ltd. established to operate A・Dining Co., Ltd. Zenshoen Co., Ltd. streamlining logistics. corporate childcare facilities. Head Office: Minato-ku, Tokyo Head Of ce: Taiki-cho, Hiroo-gun, Hokkaido Prefecture Feb. 2007 Shares of United Veggies Co., Inc. acquired for business Tel: +81-3-6833-6672 May 2015 Name of Global Foods, Ltd. changed to Zensho Tradings Co., Ltd. Zensho Best Crew Co., Ltd. expansion. Zensho Café Co., Ltd. July 2015 TAG-1 Co., Ltd. established to strengthen yakiniku business. Head Of ce: Minato-ku, Tokyo Mar. 2007 Shares of Sunday’s Sun Co., Ltd. (now Jolly-Pasta Co., Ltd.) Zensho Cafe Co., Ltd. established to strengthen cafe business. Head Office: Minato-ku, Tokyo acquired to expand business. Tel: +81-3-6833-8593 Zensho Business Service Co., Ltd. Head Of ce: Minato-ku, Tokyo / Tel: +81-3-6833-8806 Food Service (Overseas) Pocino Foods Company Zensho Restaurant (Shanghai) Co., Ltd. Head Of ce: City of Industry, CA Head Office: Changning District, Shanghai Nippon Agri Network Co., Ltd. Zensho Taiwan Co., Ltd. Head Of ce: Minato-ku, Tokyo Head Office: Wugu District, New Taipei City Kagayaki Nursery Facilities Co., Ltd. Zensho do Brasil Comercio de Alimentos Ltda. Head Of ce: Minato-ku, Tokyo Head Office: Liberdade, São Paulo ZENSHO CooCa Co., Ltd. Zensho (Thailand) Co., Ltd. Head Of ce: Minato-ku, Tokyo Head Office: Khet Wattana, Bangkok Zensho Food de Mexico, S.A. de C.V. *As of July 1, 2016 Head Office: Iztacalco, Mexico City *As of July 1, 2016

21 22 Zensho Holdings Co., Ltd. JR Shinagawa East Bldg., 2-18-1 Konan, Minato-ku, Tokyo, 108-0075 Japan Tel: +81-3-6833-1600 Website: http://www.zensho.co.jp/en/

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