Resorttrust, Inc.

Since its founding in 1973, the Resorttrust Group has continued to grow, through its core luxury membership resort business based on its management philosophy of blazing new trails, earning trust, taking on challenges, and offering sophistication, high quality and excellent hospitality. In the course of striving to honestly meet the expectations of each one of our approximately 186,000 members, we have maintained the leading market share in the domestic membership-based resort club industry for 29 years running.* We have also achieved signifi cant growth in our Medical and Senior Lifestyle operations.

In the fiscal year under review, our operations were put under pressure in the middle of a situation we have never before experienced - the global upheaval of social and economic activities caused by the spread of the COVID-19 coronavirus. During the issuance of state of emergency declarations, many facilities were forced to temporarily close or shorten their business hours. Measures to prevent the spread of infections are still being implemented at the direction of the government today, but while economic activity has normalized in many industries, the tourism, restaurant and entertainment service industries continue to grapple with a severe environment. It is at a time like this that the Group must do its utmost to continue engaging with members and other customers, going back to the basics of membership systems and maintaining relationships of trust. At the same time, we have made active efforts to solve the healthrelated issues our customers face by providing the expertise and information we have accumulated through prevention and early diagnosis activities in our Medical Operations. As a result, despite facing headwinds I believe we have made steady progress towards our goal of become a "Group that offers customers peace of mind throughout their lives.

" With the Group's strength in membership-like qualities and the tailor-made high added-value services that utilize our ties with customers, we will continue to pool our accumulated wisdom to seize favorable business opportunities in the expanding leisure and healthcare markets to create further added value. Meanwhile, we will continue focusing on the management of facilities that everyone can use with peace of mind, strive to protect the oneand-only brand we have built, and demonstrate the full potential of the Group's combined strength as we strive to become a "Group that offers customers peace of mind throughout their lives." We sincerely appreciate your continued support and encouragement going forward.

*Source: Market share is calculated based on category sales of all eight companies in the "Membership Resort Club" category from the ranking in the 38th Service Industry Survey published by Nikkei MJ on November 11, 2020.