Announcement Regarding the Stock Consolidation and Full Subsidiarization of G-FOOT Co., Ltd., a Subsidiary of AEON Co., Ltd.

Purpose and Reason for Stock Consolidation

AEON Co., Ltd. has decided to implement a stock consolidation of its subsidiary G-FOOT Co., Ltd. and to make G-FOOT a wholly owned subsidiary. G-FOOT has recorded net losses for seven consecutive fiscal years since the fiscal year ending February 2019, and due to an expected excess of liabilities over assets in the fiscal year ending February 2026, AEON has been advancing capital increases and business revitalization plans. By making it a wholly owned subsidiary, AEON aims to accelerate decision-making and integrate management resources to achieve renewed growth in the footwear business. Specifically, efforts will include store integration with AEON Retail, expansion of product offerings in group stores, development of new store formats, rationalization of loss-making stores, and streamlining of headquarters costs.

Overview and Future Schedule of Stock Consolidation

G-FOOT shares are listed on the Tokyo Stock Exchange Standard Market and the Nagoya Stock Exchange Premier Market, with AEON holding 61.90% of the shares. As a result of the stock consolidation, shares held by shareholders other than AEON will become fractional less than one share, which will be rounded down, and the fractional shares will be purchased by AEON with court approval. The purchase price is planned at 300 yen per share. The effective date of the stock consolidation is June 25, 2026, on which date G-FOOT will become a wholly owned subsidiary of AEON and will be delisted.