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1、FY2024 1QAEON CO.,LTDJuly 12,2024Presentation MaterialsCopyright 2024 AEON CO.,LTD.All Rights Reserved.Consolidated Results11Q ResultsFY2024 1QFY2023 1QYoY%ChangeOperating revenue2,449.22,324.7+5.4%+124.4Operating profit47.751.4-7.1%-3.6Ordinary profit45.348.1-5.7%-2.7Profit attributable to owners o

2、f the parent company5.117.7-71.1%-12.6Continuous increases in operating revenue have reached a record high.Operating revenue and quarterly net income attributable to parent company shareholders were generally in line with expectations.Consolidated Results(Billion yen)Copyright 2024 AEON CO.,LTD.All

3、Rights Reserved.Consolidated Results2Operating revenue increased for the fourth consecutive Q1 in each fiscal year,breaking records.Operating profit and ordinary profit were at the second highest level after the previous year,which was the highest ever.Operating revenue(Billion yen)Operating profit/

4、loss(Billion yen)Profit/loss attributable to owners of the parent company(Billion yen)Ordinary profit/loss(Billion yen)2,116.3 2,076.2 2,153.2 2,203.2 2,324.7 2,449.2 1,8001,9002,0002,1002,2002,3002,4002,50019.1Q20.1Q21.1Q22.1Q23.1Q24.1Q27.7-12.539.143.851.447.7-20020406019.1Q20.1Q21.1Q22.1Q23.1Q24.

5、1Q24.2-16.0 40.3 44.3 48.1 45.3-30030609019.1Q20.1Q21.1Q22.1Q23.1Q24.1Q-4.3-53.9 5.0 19.3 17.7 5.1-60-40-200204019.1Q20.1Q21.1Q22.1Q23.1Q24.1QCopyright 2024 AEON CO.,LTD.All Rights Reserved.Results by Segment3Operating revenue:Year-on-year increase in all segments other than the Services&Specialty S

6、tore BusinessOperating profit:Year-on-year increase in the Financial Service,Shopping Center Development,International,Services&Specialty Store,and Discount Store BusinessesOperating revenueOperating profitAmountYoYAmountYoYSegmentGeneral Merchandising Store(GMS)853.9+1.5%-3.4-4.6Supermarket(SM)731.

7、7+10.1%3.6-2.6Discount Store(DS)100.4+0.9%1.9+0.2Health&Wellness317.96.1%5.3-1.8Financial Services127.19.8%14.9+5.4Shopping Center Development121.84.3%15.7+1.7Services&Specialty Store179.9-0.3%5.9+0.4International142.2+7.6%3.9+0.7Others15.2+16.6%-2.4-0.4Adjustment amount-141.5-2.1-2.8Consolidated to

8、tal2,449.2+5.4%47.7-3.6Results by Segment(Billion yen)Results by Segment(1Q)Copyright 2024 AEON CO.,LTD.All Rights Reserved.5*1 Prior year results were adjusted for reportable segment transfers*2 AR:AEON Retail(separate),AK:AEON KYUSHU(cons.),AH:AEON Hokkaido(separate),AT:AEON Tohoku(separate),CAN:C

9、ANDO(cons,.,segment changed),Sun:SUNDAY(cons.)*3 GMS major 14 companies includedGeneral Merchandising Store(GMS)BusinessSegment operating profit/loss*（Billion）Operating profit/loss+/-*（Figures by company）（Billion yen）Same-store sales,YoY*（）Operating profit/loss+/-factors（Billion）Amid sluggish consum

10、ption and a growing frugal mindset due to continued inflation and negative real wages,existing stores exceeded their targets from sales promotion efforts.A significant decrease in profits due to the disappearance of revenge spending after“COVID-19”and the use of points granted by the government to r

11、ecipients of the My Number Card.Prompting strengthened product and pricing strategies in the second quarter-10-5+0+5+10MarAprMayJunApparelFoodHome FurnishingH&BCTotal-5.4-31.9-7.20.11.1-3.4-35.0-30.0-25.0-20.0-15.0-10.0-5.00.05.019.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1QCopyright 2024 AEON CO.,LTD.All Righ

12、ts Reserved.GMS Business,AEON Retail6Focusing on price strategy to secure market shareStill room for improvement in the gross profit mix due to a backlash from pent-up demand after COVID-19,despite increased sales promotion efforts.Continuous profit structure reforms and productivity improvements th

13、rough the use of AI tools Operating profit/loss（Billion yen）Operating loss+/-factorsSame-store sales YoY Progress in MTP and structural reforms,Impact of cost increase-4.6-28.4-8.0 0.2-1.8-3.2-40.0-30.0-20.0-10.00.010.019.1Q20.1Q21.1Q22.1Q23.1Q24.1Q-10.0-5.0+0.0+5.0+10.0+15.0MarAprMayJunApparelFoodH

14、ome FurnishingH&BCTotalTOPVALU sales YoY103.4%Man-hour productivity YoY102.2%Inventory*Change from previous Year-End124.4 bn+1.5 bnWage increase YoY+2.2 bn*Tenant rent revenue YoY+0.1 bnUtility cost increase YoY-2.5 bnSales in EC channel YoY107.6%Online supermarketWarehouse robotics100 storesRegi Go

15、(Full self-checkout)218 storesAI workMaI board*326 storesAI order*337 storesAI kakaku(AI price)Delicatessen 347storesDaily 323 storesAmong 369 stores in AEON Retails at the end of May 2024*1 Including the impact of transferring to the TOPVALU Collection*2 Daily 11 categories,Delicatessen 2 categorie

16、s *3 Including the impact of the minimum wage revision*4 A tool for sharing information via digital signage（Billion yen）（%）Copyright 2024 AEON CO.,LTD.All Rights Reserved.7*1 FY2019 and FY2020 results were adjusted for transfers between reportable segments*2 Results of FUJI,U.S.M.H,MAXVALU Tokai,MIN

17、ISTOP,and Inageya are consolidated results in each group.Data of Inageya,Daiei,and My Basket are non-consolidated results.*3 Figures of Inageya indicate the consolidated amount to AEON from Jan.to Mar.2024*4 SM major 13 companies includedSupermarket(SM)BusinessOperating profit+/-（Figures by companie

18、s）*（Billion yen）Same-store sales in major companies YoY*（）Operating profit+/-factors（Billion yen）Profit increased in Maxvalu Tokai,My Basket,and the newly consolidated Inageya also contributed.Offsetting the impact of cost increases by boosting sales and gross profit margins through the expansion of

19、 TOPVALU and regional PB,and enhancing productivity through DX initiatives.-1.115.55.23.36.23.6-2.00.02.04.06.08.010.012.014.016.018.019.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1QSegment operating profit/loss*（Billion）-4.0-2.0+0.0+2.0+4.0+6.0MarAprMayJunSalesNo.of customersNo.of items purchased per customerAv

20、g.unit price0.0Copyright 2024 AEON CO.,LTD.All Rights Reserved.8Discount Store BusinessOperating profit+/-（Figures by company）（Billion）Operating profit+/-factors（Billion）Increased revenue and profits through the establishment of a dedicated PB and DS format with low-cost operations.The PMI of the ne

21、w AEON Big is progressing smoothly,and the company aims to open double-digit numbers of stores from 2025 onwards while strengthening its structure.-0.61.60.40.0 1.61.9-1.0-0.50.00.51.01.52.02.519.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1Q0.0Same-store sales YoY（）Segment operating profit/loss（Billion）0.0-10.0-

22、5.0+0.0+5.0+10.0MarAprMayJunSalesNo.of customersNo.of items purchased per customerAvg.unit priceCopyright 2024 AEON CO.,LTD.All Rights Reserved.9Health&Wellness BusinessSame-store sales of WELCIA HD,monthly transition and YoY by category（%）Revenue increased due to the expansion of PB and store dispe

23、nsing prescription drugs,as well as increased purchases from visitors to JapanA new loyalty program was introduced;The number of stores ceasing cigarette sales reached 1,000TSURUHA,WELCIA,and AEON share the Ideal Image of the drugstore alliance,and discussions on integration are progressing.7.5 9.9

24、7.0 7.4 7.1 5.3 0.02.04.06.08.010.012.019.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1QCategoryYoYOTC products97.6Cosmetics103.0Household goods103.4Food products104.1Others92.6Total sales of products101.1Dispensing106.8Subtotal102.2Segment operating profit（Billion yen）Operating profit+/-factors（Billion yen）+0.0+

25、2.0+4.0+6.0MarAprMayJunFY24FY23FY22Copyright 2024 AEON CO.,LTD.All Rights Reserved.10Financial Services BusinessDomestic:Revenue increased due to higher card and financial revenue,while profits rose despite increased bad debt-related expenses,thanks to controlled promotional expenses.Overseas:Althou

26、gh the speed of recovery varied by area,the Malay region rebounded strongly,driving overseas operating income.16.5-0.6 22.0 15.5 9.4 14.9-5.00.05.010.015.020.025.019.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1QTransaction volumes and balance of operating receivables*（Billion yen）Operating profit in Japan and gl

27、obal（Figures by area）*AEON Financial Service Co.,Ltd.:Results by area*（Billion yen）0JapanYoYChinaYoYMekongYoYMalayYoYOperating profit1Q6.3753%1.991%2.596%4.2128%Bad debt related expenses1Q6.0130%2.3196%8.8104%5.9113%TransactionvolumesYoYBalance of operating receivablesIncrease in 1QJapanShopping1,84

28、9.81051,384.180.0Cash advance transaction102.7102427.114.8GlobalShopping126.0127154.63.4Cash advance transaction46.4132147.63.0*1 Prior year results were adjusted for reportable segment transfers.*2 AFS stands for AEON Financial Service Co.,Ltd.AFS China:China,Hong Kong,AFS Mekong:Vietnam,Thailand,C

29、ambodia,Laos,Myanmar,AFS Malay:Malaysia,Indonesia,Philippines,India*3 Changes in AFS Japans operating profit and year-on-year comparisons are calculated based on figures that have been retrospectively adjusted from the previous years results.*4 The balance of operating receivables is the value befor

30、e liquidation（Billion yen）Segment operating profit/loss*（Billion）Copyright 2024 AEON CO.,LTD.All Rights Reserved.11*1 AMJ refers to AEON Malls operating segment in Japan,while AMC represents the same segment in China.Similarly,AMA denotes the equivalent segment in ASEAN.*2 Number of visitors to exis

31、ting mallsShopping Center Development BusinessSegment operating profit（Billion yen）Operating profit+/-YoY*(Figures by company)（Billion）AEON Mall achieved record highs in operating revenue and operating profit.Domestic:Operating profit increased due to growth in sales-based payment on the increase in

32、 specialty store revenues,and reduced electricity costs due to a switch to market-price-linked pricing,etc.Overseas:Operating profit reached a record high due to increased profits in Vietnam,driven by specialty store sales growth,and in Indonesia,where the reduction of vacant floor space progressed.

33、Specialty store sales15.6 2.8 10.8 13.0 14.0 15.7 0.02.04.06.08.010.012.014.016.018.019.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1QExisting malls by area(%)YoYJapan103.1China106.7Vietnam108.8Cambodia100.6Indonesia*114.9Existing malls in Japan by business category(%)YoYLarge-scale specialty stores106.0Apparel99

34、.7Accessories103.7Miscellaneous goods104.2Dining105.0Amusement94.9Services107.2Total102.60.0Copyright 2024 AEON CO.,LTD.All Rights Reserved.12*1 FY2019 results exclude the impact of Kajitaku.*2 AD:AEON DELIGHT(cons.),AE:AEON ENTERTAINMENT(separate),AF:AEON Fantasy(cons.).Figures of GFOOT and COX are

35、 consolidated in each group.*3 Services include major 4 companies and Specialty stores includes major 7 companiesServices&Specialty Store BusinessOperating profit+/-*by company（Billion yen）Operating profit+/-factors（Billion yen）AEON Fantasy experienced increased revenue and profits driven by higher

36、sales at the new business model in Japan and the impact of new strategic small-format stores.COX achieved increased profits by lowering the cost of sales and absorbing the growth in SG&A expenses through an improvement in the gross profit margin.AEON ENTERTAINMENT saw a reactionary effect from the r

37、ecord-breaking sales of the previous years blockbuster movie release in the first quarter and profit decreased.Same-store sales of major subsidiaries,YoY*（）6.8-11.9-1.12.85.45.9-15.0-10.0-5.00.05.010.019.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1Q-30.0-20.0-10.0+0.0+10.0+20.0+30.0MarAprMayJunServicesSpecialty

38、storeSegment operating profit/loss*（Billion）0.00.0Copyright 2024 AEON CO.,LTD.All Rights Reserved.13*1 China:Business in China,AM:AEON CO.(M),AV:AEON VIETNAM,AC:AEON(CAMBODIA),AI:AEON INDONESIA,Other ASEAN:Other 4 companies in ASEAN *2 ASEAN:AEON CO.(M),AEON BIG(M),AEON(Thailand),AEON VIETNAM;China:

39、AEON STORES(HONG KONG),AEON EAST CHINA(SUZHOU),青島永旺東泰商業,GUANGDONG AEON TEEM,永旺商業,AEON SOUTH CHINA,AEON(HUBEI),*3 Operating Gross Profit *4 Operating ProfitInternational BusinessOperating profit+/-by company*（Billion yen）Operating profit+/-factors（Billion yen）ASEAN:AEON Malaysia increased revenue and

40、 profits through improved profitability and stringent cost management.China：Despite sluggish results in Hong Kong,profit increased,or losses decreased in Guangdong,South China,Qingdao,Beijing,and Hubei.The Wuhan Jiangxia Branch in Hubei performed well.Same store sales YoY*（）1.61.42.12.83.23.90.00.51

41、.01.52.02.53.03.54.04.519.1Q 20.1Q 21.1Q 22.1Q 23.1Q 24.1Q-40-20+0+20+40JanFebMarAprMayJunASEANChinaSegment operating profit（Billion yen）0.0Forecast for FY2024Copyright 2024 AEON CO.,LTD.All Rights Reserved.Same-store sales YoYBusinessGeneral Merchandising Store(GMS)+6.2Supermarket(SM)+2.5Discount S

42、tore(DS)+6.1Health&Wellness+3.1Shopping Center Development+12.5Services-2.8Specialty Store+13.9China-15.0ASEAN+6.1Recent Developments15Same-store sales in June remarkably increased year-on-year.Strengthening group-wide measures to recover the top line.Same-store sales YoY in JulyExamples of Group In

43、itiativesThe figures for each business are based on the performance of major companies.General Merchandising Store:14 companies,Supermarket:13 companies,Discount Stores:3 companies,Health&Wellness:3 companiesServices:4 companies,Service&Specialty Stores:7 companies,Shopping Center Development:AEON M

44、all,AEON Retail,AEON Tohoku DV,China:7 companies,ASEAN:4 companiesGroup initiatives in Q2 and onwardsNext Generation Delicatessen Process Center“Craft Delica Funabashi”Copyright 2024 AEON CO.,LTD.All Rights Reserved.Assumptions and 1Q results of increase in electricity cost and wage 16YoY impact on

45、consolidated FY2024 financial results compared to FY2023*FY2024 1Q resultsElectricity cost increaseImpact on utility cost+10.0 bn YoYImpact on utility cost-7.1 bn YoYThe 2024 problem in logisticsImpact on Group logistics cost+4.0 bn YoYImpact on Group logistics cost+0.9 bn YoYWage increaseImpact on

46、labor cost+65.0 bn YoYNormal increase+15.0 bn yen Strategical increase+50.0 bn yenImpact on labor cost+12.5 bn YoY*The financial forecast includes the estimated impact amounts and the anticipated effects of the measures taken.Copyright 2024 AEON CO.,LTD.All Rights Reserved.FY2024 Forecast17FY2024FY2

47、023ForecastYoYChange1Q ResultsResultsOperating revenue10,000.0+4.7+446.42,449.29,553.5Operating profit270.0+7.6+19.147.7250.8Ordinary profit260.0+9.5+22.545.3237.4Profit attributable to owners of the parent 46.0+2.9%+1.35.144.6No change to the initial forecast.First quarter results were generally in

48、 line with expectations.（Billion yen)Copyright 2024 AEON CO.,LTD.All Rights Reserved.1Consolidated Balance Sheet at the End of May 2024Feb.2024May 2024Change from Feb.2023Cash&deposits1,165.5866.7-298.7Notes and accounts receivabletrade(incl.installmentreceivables)1,957.41,838.1-119.3Inventories625.

49、2651.7+26.4Operating loans and loans&bills discounted for banking business3,222.83,566.6+343.7Property,Plant and equipment3,414.93,475.5+60.5Investments and other assets 1,105.71,173.4+67.7Total assets excl.financialsubsidiaries12,940.86,400.613,087.46,540.9+146.5+140.3Feb.2024May 2024Change from Fe

50、b.2023Notes and accounts payable1,073.11,123.9+50.7Interest-bearing debt(excl.financial subsidiaries)2,402.7 2,466.7+64.0Interest-bearing debt(finance subsidiaries)1,312.9 1,308.4-4.4 Deposits for banking business 4,533.24,563.5+30.2Total liabilities excl.financialsubsidiaries10,853.54,779.011,010.3

51、4,931.8+156.6+152.8Shareholders equity913.3904.7-8.6Total net assets excl.financialsubsidiaries2,087.21,621.52,077.11,609.0-10.0-12.4Total net assets andliabilitiesexcl.financialsubsidiaries12,940.86,400.613,087.46,540.9+146.5+140.3Assets(main items only)Liabilities and net assets(main items only)(B

52、illion yen)(Billion yen)ReferenceCopyright 2024 AEON CO.,LTD.All Rights Reserved.Dividends2FY2024FY2025（Forecast）End of the second quarterOrdinarydividend18 yenOrdinarydividend18 yenCommemorative dividend 2 yenFiscal year-endOrdinarydividend18 yenOrdinarydividend 18 yenCommemorative dividend 2 yenTo

53、talOrdinarydividend36yenOrdinarydividend36yenCommemorative dividend 4 yenCommemorative dividend for the 50th anniversary of the Companys listing will be paid.Forecasting dividend of 40 yen per year,ordinary dividend of 36 yen and commemorative dividend of 4 yen.ReferenceCopyright 2024 AEON CO.,LTD.A

54、ll Rights Reserved.FY2024 1Q Results of Daiei and ex-Daiei GMS3BusinessSegmentCompany NameOperating revenueOperating profitResultYoY%ResultYoY changeGMSAEON Retail store*Former DaieiGMS in Kanto,Kinki,and Nagoya region23.3-6.0-0.6+0.2SMDaiei75.7+3.1-0.4-0.0(Billion yen,%）ReferenceDisclaimer regardin

55、g Forecast StatementThese materials are intended to provide information,not to encourage any specificactions.The company has prepared these materials(including business plans)based on available information believed to be reliable,but there are risks anduncertainties.The company bears no liability fo

56、r the accuracy or completeness of theinformation.Please use these materials at your discretion.The company bears no liability for anyloss or harm that may arise from investment decisions made based on any of theprojections or targets contained in these materials.All rights of authorship of these materials revert to AEON CO.,LTD.These materialsmay not be reproduced or distributed without the permission of the company