INTEGRATED REPORT

CITIZEN REPORT

2023

Corporate Philosophy

Loved by citizens, working for citizens.

CITIZEN's corporate philosophy, "Loved by citizens, working for citizens" is

to deeply contribute to the lives of people around the world through the manufacturing of products that are loved and trusted by citizens.

CITIZEN CALIBRE 16

The first pocket watch completed using a proprietary design in 1924, It was named"CITIZEN"by the mayor of Tokyo at the time in the hope that it would be widely loved by citizens for a long time.

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Table of Contents

03 Value Creation Story

05 History of the CITIZEN Group

07 Message from

the President & CEO

11 Watches

15 Machine Tools

19 Devices and Components

20 Electronic and Other Products

21 Financial Strategies

23 Financial and

Non-financial Highlights

25 Identifying Material Issues

27 Sustainable Management

28 Environment

29 Employees

30 Customers

31 Business Partners

32 CITIZEN OF THE YEAR

33 Corporate Governance

36 Message from

an Outside Director

CITIZEN Forest was created under the concept of being able to work both indoors and outdoors. At Tokyo Works, we planted 215 trees and created a space that is richly endowed with nature, attracting local birds and insects. This space won a 2021 Good Design Award.

2

CITIZEN Group's Value Creation Story

MaterialityInputs

Sustainable management

Risks and

Opportunities

(Awareness of

the External Environment)

Responding to climate change and contributing to a recycling-oriented society

Contributing to high-quality life

Providing solutions in industry

Increasing job

satisfaction and

cultivating human resources

Fulfilling social responsibility

Financial Capital

Total assets���.�

billion yen Net assets���.� billion yen

Intellectual Capital

Number of patents that the�Group,���holds more than

Number of trademarks that the�Group,���holds more than

Manufactured Capital

Amount of capital investment ��.� billion yen

Production system centered on Japan, China, and Thailand

Social Capital

Global supply chain network

Human Capital

Number of employees ��,���

Natural Capital

Total energy consumption

�,���,���GJ

Water intake

�,���,���㎥

Recycling rate

��％

(as of March ����

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Digitalization

Changes in

Aging

mobility

values

ciency thr

population

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I

Product

n

i

planning

o

Research and

Design

development

Miniaturization

Sales and

Automation

CITIZEN's

Precision

Procurement

after-sales

Technology

Technical

Processing

services

Capabilities

Low Power

Sales

Consumption

Production

Logistics

Corporate

Sustainability

governance

Risk management

promotion system

B

n

tio

usiness founda

3

Provide sustainable products

Outcomes

Vision

Watches

Machine tools

Give customers

Engage in business

activities that reduce

excitement and high

environmental impact

satisfaction

Solve customers'

problems and

contribute

to business success

Environment

Improve each other through business activities Achieve sustainable growth

Corporate Philosophy

Loved by citizens,

working for citizens.

Devices and components

Electronic and other products

Customers

Reliability

Business

Partners

Emotion

Security

Employees

Community

Provide growth

Solve social issues

opportunities

Shareholders

Create jobs and

Realize job satisfaction

increase development

and employee

and Investors

in communities

friendliness

Improve shareholder value

CITIZEN Group

long-term vision

Crafting a

new tomorrow

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Disclaimer

Citizen Watch Co. Ltd. published this content on 18 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2023 02:01:11 UTC.