Business and Structural Changes in the Automotive Industry During the CASE Era — the automotive industry is currently at the forefront of megatrends such as CASE (Connected, Autonomous, Shared, and Electric). NRI provides multifaceted support to automotive industry clients in addressing the challenges represented by these trends, including the launch and monetization of new business ventures leveraging connected services and data, the shift towards software-defined vehicles (SDVs), and the transformation of business structures to align with evolving user trends from ownership to usage. NRI automotive group deploys consultants in Japan, U.S., Europe, China, India, and ASEAN countries with insights and analysis of unique local market conditions to support clients with on-the-ground research. Complete support is provided along the supply chain of the automotive industry, from the formulation to the implementation of plans using the cross-sectional cooperative structure.

Recently, the chemical and materials industry has been experiencing rapid changes, with many companies facing challenges in transitioning their business portfolios and achieving expected growth in new initiatives. NRI aims to support these companies through bold transformations into new business models and the identification and utilization of new key assets, including intellectual property. Comprehensive assistance is provided that encompasses improving operational efficiency, enhancing organizational and management practices, developing talent, and supporting IT implementation and execution. NRI's consultants and engineers not only understand the operations and dynamics of the chemical and materials sectors but also take a holistic view of the entire value chain, including downstream industries.

Consulting for Consumer Goods, Distribution, and Services — we are entering a VUCA (Volatile, Uncertain, Complex, and Ambiguous) era, characterized by a difficult to forecast, unpredictable future. In particular, the past few years have seen rapid changes, with investors' fear indices, consumer price indices, and food price indicators reaching all-time highs between 2020 and 2024. Numerous new keywords have emerged in management discourse, including improving ROE, enhancing PBR, sustainability initiatives, advancing digital transformation (DX), and human capital management. NRI provides comprehensive support to consumer goods, distribution, and services companies navigating these complex challenges.

NRI offers omni-directional consulting services to equipment manufacturers to create organizations, functions, and business strategies using existing technologies rather than being exclusively devoted to technological advancement. In today's global competition, creating a business model that maximizes profit in the entire value chain rooted in each region is key to success. NRI supports clients' decision-making flows and works together with them to develop business models that will maximize profits. For energy-related facilities, it is essential to create comprehensive business models by considering the performance of the equipment, including design, construction, and after-sales services while identifying the entire profit, including the one during operation.

NRI provides support for organizations in a new harsh environment, providing unique solutions ranging from management reform for public sector organizations to global strategy development for private sector businesses. Investment opportunities for infrastructure projects, engineering, procurement and construction (EPC), and energy and resource development are rapidly expanding as competition increases. While liaising between public and private sectors, NRI supports the development of policies and business strategies, the execution of systems and measures, and the realization of plans with a precise view to future trends and changing societies and markets. In cooperation with locations in China, ASEAN, India, Russia, and the Americas, NRI supports managing portfolios of market entry strategies and business investment.

Designing solutions that enable insightful decision making, NRI's state-of-the-art and research-driven insights provide a deep understanding of the operational issues facing financial services firms. The Finance practice covers securities, asset management, banking, and insurance — providing IT solutions, consulting, and managed services including the industry-standard I-STAR, T-STAR, BESTWAY, and THE STAR platforms that together process over 50% of daily Tokyo Stock Exchange trading volume and over 70% of mutual fund transactions in Japan. NRI provides IT solutions across various financial sectors, including securities, asset management, banking, and insurance. The Financial Business Platform is a pioneering service model that anticipated the shift from system ownership to service-based IT utilization, and today serves as a standard industry infrastructure across multiple financial domains.

There is a pressing need to address increasingly diverse and complex demands, such as enhancing patient experience, pursuing prevention and well-being, promoting home healthcare, developing advanced cancer treatments, responding to rare and difficult diseases, reforming healthcare professionals' work styles, and optimizing medical costs. NRI collaborates with all stakeholders, including pharmaceutical companies, medical device manufacturers, insurers, local governments, public institutions, and new entrants, to envision the future each stakeholder should strive for. NRI provides consulting services to pharmaceutical companies and medical equipment manufacturers around the world in order to provide organizational measures for HTA introduction, as well as to the actual evaluation operations. Comprehensive support is provided from strategy formulation to the implementation of technology and new systems.

NRI, in the ICT and Media Group, provides support to various clients including service providers, equipment manufacturers, government agencies, consumers, and other business operators. Promotion of new services and expansion of business areas are on the rise responding to the maturity of the communications and broadcast industries. With the growing popularity of the Internet and mobile phones, the EC and content businesses are growing rapidly represented by Internet shopping and music and video distribution. NRI has been involved in many projects in the fields of video clips, music, and ebooks through advanced understanding of market trends, providing services to support business growth in various situations from development of services, creation of administrative organizations, and establishment of distribution, billing, and customer support systems.

Leveraging knowledge and experience as a think tank, NRI supports issue resolution in collaboration with diverse partners across national and local governments. Service areas include Environmental Energy, Social Infrastructure, Regional Revitalization, Disaster Prevention, Tourism (including MICE), ICT and Community Development, Agriculture and ICT, Industry and Trade, Healthcare and Welfare, and Information and Communications. NRI supports national and local governments in planning, establishing, and realizing highly-effective policies and strategies that well consider the positions and needs of public and private sectors, utilizing the abundance of studies and consulting experiences in both sectors. As a 'supporter of policy realization', NRI actively takes over operations to contribute to the realization of various policies, functioning as a project management office (PMO) and supporting smooth implementation of operations.

Japan's mobility and logistics networks face unavoidable declines in operational rates amidst a decreasing population, bringing new challenges such as collaboration across industries and the implementation of automation technologies to build a more flexible system. NRI harnesses its extensive knowledge in the transportation and logistics industry to envision the future of human and goods movement, operating at both regional and global levels. Additionally, transportation and logistics companies must leverage Japan's expertise as a leader in addressing social challenges to grow their businesses overseas. NRI provides integrated assistance through think tank activities, consulting, and IT solutions, working collaboratively to bring about necessary transformations in the mobility and logistics sectors.

Comprehensive security advisory addressing system design, vulnerability assessment, monitoring, and training. NRI provides consulting for the development of security-conscious systems and services, vulnerability assessments for systems and applications, 24/7 security monitoring services, implementation of security solutions, and security training. The firm's integrated approach ensures organizations build security into system architecture while maintaining continuous threat detection and employee security awareness.

Strategic planning and execution of digitalization initiatives from initial strategy development through full project implementation. NRI supports digital architectural reforms across the organization and promotes the creation of digital business models. The firm launched AI Consulting services to support generative AI-driven management reforms including operational reforms and business model transformations, enabling clients to leverage emerging technologies for competitive advantage and organizational modernization.

Research-driven consulting and operational advisory to financial institutions including securities firms, banks, insurance companies, and asset managers. NRI Financial Solutions, a core business, provides consulting and managed services covering front-to-back office operations for mutual funds, investment advisors, pensions, and buy-side asset managers. The firm's expertise spans institutional broker-dealers, wealth management firms, and correspondent clearing firms, with specialized knowledge of post-trade processing, investment data management, and back-office operations optimization.

End-to-end management strategy support encompassing corporate strategy formulation, business planning, and operational reform. NRI delivers strategy and vision formulation, creation of business plans, and operational reform across North, Central, and South America, with specialized support for creating new businesses and global expansion initiatives. Services extend to M&A advisory and business reform support, positioning clients for competitive advantage through integrated strategic planning and execution.

Integrated support for marketing strategy formulation, market forecasting, branding, and new product strategies leveraging large-scale consumer survey data. NRI consultants provide support across marketing strategy formulation, market forecasting, new product strategies, branding strategies, dashboard implementation, and development of Marketing Mix Models. The firm's CXMM (Customer Experience Management Methodology) service enables customer survey analysis and CX strategy development, supporting data-driven marketing decision-making and customer-oriented business operations.

Policy research, industry trend analysis, case studies, system design, and impact analysis supporting strategic decision-making for corporate and public-sector clients. NRI promotes various types of research and analysis including policy research, case studies, system designing, policy recommendations, policy evaluation, and impact analysis. Founded in 1965 as Japan's first full-fledged private think tank, NRI's research division provides market research, benchmarking studies, competitive analysis, feasibility studies, and strategic planning to inform client strategy and public policy.

Incorporation of sustainability into management frameworks through purpose-driven strategy, materiality assessment, and value-creation storytelling. NRI's sustainability-focused consulting delivers three managerial results: competition strategy, risk hedging, and loyalty engagement. The firm assists clients with purpose-focused consulting and materiality determination from a strategic perspective, enabling organizations to integrate sustainability as a core competitive differentiator and stakeholder value driver.

An outsourced customer survey analysis service covering all operations relating to customer survey analysis to achieve customer-oriented business operations and CX strategies. CXMM R enables organizations to systematically collect, analyze, and act on customer feedback, supporting the development of customer-centric strategies and continuous improvement of customer experience across touchpoints.

A platform enabling financial institutions such as brokerage and asset management firms to collect, analyze, and distribute investment data both internally and externally. e-AURORA provides comprehensive data management and analytics capabilities for investment professionals, supporting data-driven decision-making and information distribution across the organization and to external stakeholders.

An international post-trade processing platform designed for institutional broker-dealers, wealth management firms, and correspondent clearing firms. I-STAR/GX integrates with Beta for cross-border back-office operations, enabling seamless processing of securities transactions across multiple jurisdictions. The platform supports institutional clients in managing complex post-trade workflows and settlement operations with integrated cross-border capabilities.

A solution designed for asset managers supporting overall mutual fund back-office operations including trust asset management. T-STAR/TX holds the No. 1 market share in NAV (Net Asset Value) calculation solutions in Japan, providing asset managers with reliable, market-leading technology for fund administration and valuation operations. The platform enables efficient management of mutual fund operations and investor servicing.

An accounting system for brokerage firms providing shared service solutions for back-office operations in retail and wholesale securities. THE STAR enables brokerage firms to standardize and optimize accounting operations across business lines, supporting efficient financial reporting and operational control in securities trading environments.

Solution supporting financial institutions' retail sales representatives The Advisor Platform provides a framework of integrated tools to support goal-oriented, proposal-based sales activities. In order to develop the best possible investment portfolio for a client, sales representatives must complete various processes, including ascertaining what assets clients possess, evaluating their ever-changing portfolios, reviewing and rebalancing these portfolios, and setting new goals based on the client's background information, such as risk appetite and investment inclination. NRI's Advisor Platform allows sales representatives to manage all of their client's data in one place, linking information between relevant applications. In addition, the Advisor Platform easily integrates with NRI's securities back-office systems, allowing clients to view operations information in real time. Clients Brokerage firms Features The Advisor Platform provides sales representatives with information on various types of clients and sales activity. Financial advisors can view the information in various formats, including in a full client list. Aggregated view of client's information Aggregated view of client's information The service allows clients to view comprehensive and summarized information that ranges from basic client data, such as address and age, to more detailed information necessary to provide advice, including assets under management and assets sales information. Support for investment consulting The Advisor Platform service also includes tools to help sales representatives create proposals, present them to clients, and allocate funds based on them. By connecting to NRI's back-office systems, Advisor Platform allows users to check various real-time information, such as a client's assets under management.

NRI partnered with Koto-ku, Tokyo-headquartered BIPROGY Inc. . ( BIPROGY ) to jointly develop BANKSTAR®, an accounting system for the banking industry. *For your business in Japan. BANKSTAR® is an open accounting system that Nihon Unisys developed for banks that have no physical branches. Similar to the firm’s open accounting system for regional banks, BankVision®, which has been implemented at seven regional banks as of March 31, 2013, BANKSTAR® combines a Windows® platform with Nihon Unisys’s open financial processing platform MIDMOST® - operating 24 hours a day, 365 days a year. When deploying BANKSTAR® at client sites, NRI handles application development and Nihon Unisys is responsible for constructing the platform. Clients BANKSTAR® is primarily designed to address the needs of banks with no branches. Features 1. Operates 24 hours a day, 365 days a year Online services are available 24 hours a day, 365 days a year. BANKSTAR® operations switch between weekday and holiday servers, ensuring maintenance can be performed without suspending services to customers. 2. Consolidated system includes only necessary functions for Japanese banking operations In order to streamline the processes for customers, BANKSTAR® includes only traditional functions necessary to carry out banking operations, making the system extremely compact. 3. Modular application structure enables easy modification Functions are grouped by operation (ordinary deposits, time deposits, etc.), making it possible to easily add additional operations and modify functions. 4. Comes with extensive documentation The system comes standard with extensive documentation, ranging from an overview design document, which is necessary for development of and can be used to get an overall feel for the application, to basic design documents. 5. System configured to expand reliably BANKSTAR® can be scaled up or scaled out to handle transactions and data volume growth. Banks currently using the system have run it with one million accounts. Functions The BANKSTAR® solutions package includes all the functions necessary to handle Japanese banking products and is implemented as a service after conducting an operational and system-gap analysis. Deposits Yen ordinary deposits, yen fixed deposits, yen separate deposits, ATM card (issuing and managing cards), issuing statements, transfers between accounts, bulk transfers, salary deposits (compatible with the Zengin format) Financing Card loans Domestic foreign exchange Telegraphic fund transfers, MT data file transfers Connection to external systems Integrated ATM, Zengin (RC), ANSER, CAFIS Connection to customer channels ATM connectivity, net banking (Internet, mobile, phone, etc.), EB connectivity Shared Customer management, fee management Accounting (daily accounting), expenses, etc. Accounting (daily accounting), expenses, settlement Supervising authorities Reports, Deposit Insurance Corporation of Japan

BESTWAY/JJ is a solution that provides comprehensive support to account management functions for defined-contribution pension plans, including sales support functions for the front office, and account management functions for mutual fund sales at banks. *For your business in Japan Since the regulatory changes in December 1998, mutual fund sales at banks have grown exponentially. The bank sales channel currently accounts for 50% of the mutual funds balance, including private offerings, in Japan. NRI's BESTWAY solution for mutual fund sales at banks supported this process. BESTWAY/JJ is a shared application services offering that provides comprehensive support for back-office functions such as attribution management, balance management, calculations for orders and execution, settlement process, and reporting management. In addition to giving users the ability to view customer information and fund data, BESTWAY/JJ offers compliance functions, account opening functions, order management, and account management functions for defined-contribution pension plans. Optional services such as BEWTWAY/COMPASS and BESTWAY/FOCUS allow users to manage administrative tasks and sales activities on tablet devices. In addition, users can outsource thier administrative work such as fund management conducted on BESTWAY/JJ and vendor management to NRI. Clients banks - including large banks, trust banks, and regional banks - use BESTWAY. In total, more than 110 companies use the suite, including asset management and life and general insurance firms, in addition to banks. Features End-to-end solution for mutual fund sales at banks BESTWAY/JJ provides total support for mutual fund sales at banks, from back-office operations focused on account management functions, to front-office operations, such as inquiries for various data and compliance checks at banks, as well as defined-contribution pension plans operations. Clients can get access to the solution and all related services by adding BESTWAY/JJ to NRI's BESTNet network service. The reports and resulting data created by BESTWAY/JJ are linked through dedicated servers installed at client sites. Reducing equipment operation load by creating a central server Clients can access BESTWAY/JJ as a shared application through NRI's data centres. NRI provides maintenance and operations services. Security Each user can manage customized security policies, including login password activity tracking and login timeout settings. The access log is provided as an audit trail. Authorization to access editable functions and screens can be controlled in-house and customized for each unit and job function performing the operation. Failure resistance/disaster resistance BESTWAY/JJ is operated from NRI's data center, which conforms to the nation's most robust and stable safety standards outlined by the Center for Financial Industry Information Systems (FISC). A backup center is always ready to mirror standard functions. Functions Functions Investment trust account management Sales support Online reporting*1 External connection file creation Direct database inquiry, extraction and reference service from NRI data center Japan Securities Depository Center-connected file creation function Audit trail Provide Fund data via e-AURORA*2 NAV auto-receipt *1 Reports for customers (for inquiries), in-house reports, tax reports, etc. *2 Assuming store development option is used (optional) Optional Functions Account management for defined contribution plan Account management for foreign domiciled funds Able to set up terminals at branches to view and enter information online Japanese ISA-compliant option Japanese ISA application-receiving option Connectivity for asset managers CRM for mutual fund sales (BESTWAY/FOCUS) Navigation for financial instruments sales (BESTWAY/COMPASS) Electronic customer reporting delivery service (POSTUB) FundWeb Service

The CXMM (Customer Experience Management Methodology) ® service is an outsourced customer survey analysis service to achieve customer-oriented business operations and CX strategies. This service covers all operations relating to customer survey analysis. Noise mitigation By combining three indicators that mutually mitigate and offset the noise* that undermines the reliability of customer loyalty measurement results, we have developed and adopted a “CX indicator” that consistently produces stable results. *Noise refers to the “human mindset” that prevents the measurement of customer loyalty for reasons not directly related to customer loyalty. Strong correlation with business performance This “CX indicator” has been proven to have a strong correlation with the earnings of domestic financial institutions, as demonstrated by the financial institutions that have adopted the CXMM®. Identification of areas for improvement We use the expectation disconfirmation model to understand the difference between evaluations and expectations for the various values that a company provides to its customers, and conduct correlation analysis with the CX indicator to quantitatively analyze issues that should be prioritized. Functions We undertake all tasks required for customer survey analysis. Survey design Designing CXMM® compliant surveys Mailed survey preparation and execution Online survey preparation and execution Survey results cleansing & feedback Cleansing of survey results data (handling exceptions such as multiple selections, cases when responses were made in duplicate through mail and online, etc.) Linking raw data of survey results Cross-analytical data cleansing & integration Cleansing of survey results and data to be cross-analyzed (exceptions made, such as exclusion of data not covered) Integration of survey results and cross-analysis data Data analysis Analysis of survey results and cross-analysis data Comparative analysis with NRI’s own CX benchmark survey Reporting Preparation of materials to report analysis results Follow-up Sending gratuities to participants Optional Services Preparation for implementation of external monitoring Implementation of external monitoring; collection External monitor rewards support

eFront is the world’s leading technology solution for alternative investment management, with recognized expertise in alternative investment management and risk management. NRI provides comprehensive support for eFront’s implementation and helpdesk services. Clients Limited Partners, General Partners, Asset Services eFront's Solutions 1. eFront Invest Information management and analysis functions to optimize pre- and post-trade operations. During pre-trade operations, it enables to systematically register, manage, search and share information regarding fund selecting process. For post-trade operations, it enables to systematically manage and visually disclose fund information such as investment structure, cash flow and fund performance. 2. eFront Hosting Hosting service for eFront Invest It hosts eFront Invest with Amazon Web Service. The service includes hardware monitoring, and Disaster Recovery is available as an optional service. 3. eFront Data Intelligence Data collection and provision service It collects reports submitted by General Partner, evaluates the validity and provides data. Features Systematically manages pre-trade operation with CRM and process management function Makes it easy to manage cash flow and calculate fund KPIs Significantly reduces monitoring and reporting burden Collects fund management status data and provides the data in a format that can be easily uploaded to eFront Invest Offers comprehensive helpdesk services and support as well as running test in case of solution version ups

Provides digital platforms and software solutions for banks, including core banking systems, retail sales advisory platforms, mutual fund and pension administration solutions, customer experience analytics, and back-office automation. NRI's offerings support branchless banking, investment advisory, account management, regulatory compliance, customer engagement, and operational efficiency.

Provides digital administration, customer management, compliance, reporting, and investment-related solutions that help insurance providers streamline operations, improve customer experience, and enhance business performance.