Aeon Financial Service Co., Ltd. · TSE:8570
Aeon Financial Service — Q3 FY2025 Earnings Presentation
51 slides from Aeon Financial Service's earnings presentation, Jan 8, 2026
Slide 1: FY2025 3Q IR Presentation Material
This is an abridged translation of the original Japanese document and is provided for informational purposes only. If there are any discrepancies between this and the original, the original Japanese document prevails. FY2025 3Q IR Presentation Material January 8, 2026 Stock Listing: Tokyo Stock Exch
Slide 2: Table of Contents
Table of Contents 1 Outline of the Financial Results for the Nine Months Ended November 30, 2025 2 Forecast of Business Performance and Dividends for FY2025 3 Priority Measures Appendix AEON Financial Service Co., Ltd. 2
Slide 3: The Highlights of the Consolidated Results
The Highlights of the Consolidated Results FY2025 Rate of Consolidated YoY Forecast progress Domestic YoY Global YoY Operating ¥421.5 bn 108% ¥248.3 bn 110% ¥175.2 bn 107% ¥570.0 bn 74% revenue Operating ¥41.7 bn 110% ¥13.6 bn 111% ¥27.9 bn 110% ¥57.0 bn 73% profit Ordinary ¥42.2 bn 108% － － － － ¥57
Slide 4: The Highlights of Consolidated Results 3Q Accounting Period (3 months)
The Highlights of Consolidated Results 3Q Accounting Period(3 months) YoY Consolidated Domestic YoY Global YoY Operating ¥143.4 bn 108% ¥83.0 bn 106% ¥60.5 bn 109% revenue Operating ¥13.3 bn 124% ¥4.1 bn 149% ¥9.1 bn 117% profit Ordinary ¥13.0 bn 110% － － － － profit Profit attributable to owners of
Slide 5: Summary of 3Q Consolidated Financial Results
Summary of 3Q Consolidated Financial Results Consolidated active IDs reached 58.38 million (increase of 2.66 million from beginning of period), contributing to growth in transaction volume and outstanding operating receivables. Although funding costs increased due to rising interest rates, revenue a
Slide 6: Domestic Business
Domestic Business AEON Financial Service Co., Ltd. 6
Slide 7: [Domestic] Breakdown of Operating Profit
[Domestic] Breakdown of Operating Profit • Financial income from banking operations increased; however, operating profit rose by ¥1.3 billion due to factors such as higher deposit interest expenses and increased general and administrative expenses Unit ： Bn JPY Other Securitization revenue revenue I
Slide 8: [Domestic] Valid ID Status
Productivity ［Domestic］ Valid ID Status （Increasing revenue） • Increase in valid IDs, mainly among AEON Pay code payment users who use charge payments (increase of +2.25 million from the beginning of the period) (million) 38.40 million 40 (YoY 107% / Increase from beginning of term +2.25 million ) 3
Slide 9: [Domestic] Customer Base <AEON Card, AEON Pay>
Productivity [Domestic] Customer Base <AEON Card, AEON Pay> （Increasing revenue） • Number of active card members increased by 0.41million from the beginning of the period • AEON Pay expands usage locations including convenience stores; membership reaches 10.30 million Number of valid card holders, A
Slide 10: [Domestic] In-House Payment Transaction Volume
Productivity [Domestic] In-House Payment Transaction Volume （Increasing revenue） • Transaction volume expanded through increased penetration of AEON Group benefits and promotion of AEON Pay usage In-House Transaction Volume 7,382.8 billion AEON Pay transaction volume (YoY 104%) (bn JPY) KPI: 10 tril
Slide 11: [Domestic] Status of high-yield loans
Improvement of ［Domestic］ Status of high-yield loans asset profitability • The high-yield bond ratio (after securitization) decreased due to bond securitization at the end of the previous period, it recovered gradually from the beginning of the period (End of Q1: +0.1pt, End of Q2: +0.2pt, End of Q3
Slide 12: [Domestic] Bank Deposits
[Domestic] Bank Deposits • Deposit acquisition pace slowed, but maintained stable growth with opening balance difference +268.6 billion, YoY 112% • Advancing ordinary deposit acquisition through promoting everyday account usage (My Stage top tier share YoY +1.0pt) AEON Bank Deposit Balance 5,470.3 b
Slide 13: [Domestic] Housing Loans
[Domestic] Housing Loans • Mortgage loan volume year-on-year comparison shows recovery trend by accounting period (1Q: 53%, 2Q: 83%, 3Q: 100%) • The over 35-year ultra-long-term loan launched in April expanded, with the proportion of borrowers aged 39 and under increasing Housing loan volume Ratio o
Slide 14: [Domestic] Funding Utilizing Deposits
[Domestic] Funding Utilizing Deposits • Leveraging AEON Bank's low-cost funding capabilities to expand high-yield assets and strengthen profitability Actual Investment Yield Trends in Policy Interest Rates and Deposit Funding Costs Average Yield*1 (%) Policy Interest Rate Cost of Deposits Housing-re
Slide 15: [Domestic] Controlling expenses through bad debt-related expenses and productivity improvements
［Domestic］ Controlling expenses through bad debt-related Productivity （Cost control） expenses and productivity improvements • Bad debt expense ratio relative to accounts receivable balance remains stable at a low level • Personnel expense ratio for the 3Q accounting period decreased 1.4% YoY. We are
Slide 16: Global Business
Global Business AEON Financial Service Co., Ltd. 16
Slide 17: [Global] Segment Performance Highlights
[Global] Segment Performance Highlights • For the cumulative period, operating profit increased in the Malay area, achieving revenue and profit growth across all areas • In the third fiscal quarter, the Mekong area saw a decline in profit due to increased bad debt expenses related to flooding in Tha
Slide 18: [Global] Highlights of Performance in China Area
[Global] Highlights of Performance in China Area • Revenue remained flat due to strengthened credit screening and ongoing credit management, but profit increased through cost control measures such as reducing loan loss provisions and sales promotion expenses Breakdown of operating profit Operating r
Slide 19: [Global] Highlights of Performance in Mekong Area
[Global] Highlights of Performance in Mekong Area • Despite prolonged macroeconomic deterioration and flooding in Thailand, profit growth continues as bad debt-related expenses are contained Breakdown of operating profit Operating revenue difference from previous FY (bn JPY) 80 74.7 bn (YoY 104%) Re
Slide 20: [Global] Highlights of Performance in Malay Area
[Global] Highlights of Performance in Malay Area • Handling volume and outstanding balances for installment sales of mid-sized and large motorcycles increased, sustaining double-digit revenue growth • Operating profit turned positive due to stricter screening and strengthened collection systems in r
Slide 21: [Global] Balance of Receivables and NPL of Listed Subsidiaries
[Global] Balance of Receivables and NPL of Listed Subsidiaries • Hong Kong: Total bankruptcy filings shifted to decline; loan loss expense ratio stabilized due to credit tightening, etc. • Thailand: Both the loan loss expense ratio and NPL ratio increased due to worsening macroeconomic indicators an
Slide 22: Forecast of Business Performance and Dividends for FY2025
Forecast of Business Performance and Dividends for FY2025 AEON Financial Service Co., Ltd. 22
Slide 23: FY2025 Earnings Forecast, Dividend Forecast
FY2025 Earnings Forecast, Dividend Forecast Consolidated YoY Domestic YoY Global YoY Operating ５70.0 bn １０7 ％ 330.0 bn １０5 ％ 240.0 bn １０8 ％ revenue Operating 57.0 bn ９３ ％ 1９.0 bn ８5 ％ ３９.０ bn １０1 ％ profit Payout Ordinary Dividend per share 57.0 bn 91 ％ － ー － ratioー profit Interim： ２５ Profit attribut
Slide 24: Priority Measures
Priority Measures AEON Financial Service Co., Ltd. 24
Slide 25: Toward Enhancing Corporate Value
Toward Enhancing Corporate Value AEON Financial Service Co., Ltd. 25
Slide 26: Review
Review • Operating profit remained largely flat during the current mid-term management plan period, deviating significantly from the initial plan. • Significant shift toward business restructuring prioritizing asset profitability Factors Contributing to Deviation Operating Profit Trend from Initial
Slide 27: Direction for the Next Phase
Direction for the Next Phase • The next medium-term plan is scheduled for disclosure at the year-end settlement. We will redesign our retail-driven financial services business centered on “payment" and "lending." ～FY2025 Enhancing earning power to return to a growth trajectory Second Founding: Innov
Slide 28: [Business Portfolio Review] Building Foundations for the Next Phase
[Business Portfolio Review] Building Foundations for the Next Phase • From FY2023, we will advance the allocation of management resources to core/growth areas, building the foundation for the next phase of growth • Advancing resource reallocation through business and operational consolidation ~FY202
Slide 29: [Domestic] Concentrating Resources on Core Areas and Enhancing Effectiveness
[Domestic] Concentrating Resources on Core Areas and Enhancing Effectiveness • Focus management resources on the "Payments," "Lending," and "Banking" businesses • Strengthening group-wide governance and transitioning to a highly effective business structure End of February 2023 FY2026– Holding Compa
Slide 30: Strengthening profitability
Strengthening profitability AEON Financial Service Co., Ltd. 30
Slide 31: [Domestic] Expanding Infrastructure Centered on AEON Pay
[Domestic] Expanding Infrastructure Centered on AEON Pay • Starting December, improved registration pathways for AEON Pay among cardholders will expand membership • In FY2026, the app will be renamed from AEON Wallet to "AEON Pay" to provide features and experiences tailored to user needs Monthly Tr
Slide 32: [Domestic] Expansion of Revolving and Installment Payment Balances
[Domestic] Expansion of Revolving and Installment Payment Balances • New users, particularly among younger demographics, have increased due to the introduction of the "post-purchase installment" feature • Responding to "post-purchase" needs in scenarios where payment frequency cannot be selected, in
Slide 33: [Domestic] Expansion of Lending Operations
[Domestic] Expansion of Lending Operations • Achieving product designs tailored to customer needs, expanding unsecured loan balances alongside cash advances • Aiming to further increase lending revenue by offering new loan products that meet small-amount, immediate needs Product design tailored to c
Slide 34: [Global] Initiatives by Country
[Global] Initiatives by Country • In Vietnam, PTF changed its company name and aims to expand under the AEON brand • AEON Bank (Malaysia) launches new business services Vietnam Malaysia ■ PTF Company Name Change Former Company Name ■ Launch of Business Services Post and Telecommunication Finance Com
Slide 35: [Our Purpose]
［Our Purpose］ AEON Financial Service Co., Ltd. 35
Slide 36: Appendix
Appendix AEON Financial Service Co., Ltd. 36
Slide 37: Approach to ROE Improvement
Approach to ROE Improvement 【Repost】 ROE Return on Operating Existing Improve Assets Number of (%) Receivables high-yield bond ment valid IDs Operating Revenue / + × Outstanding Receivables New Products Utilization × +α rate × Amount Productivity Fee used for (%) Revenue each product Net Income / Op
Slide 38: Progress of KPIs for FY2025
Progress of KPI’s for FY2025 • Aiming to achieve sustainable improvement in ROE through increased asset profitability and productivity resulting from the expansion of the AEON Living Area Domestic KPI’s Policy Progre Indicator Goal for FY2025 Interim results ss “AEON Living Area” Locations where exp
Slide 39: Domestic customer base
Domestic customer base Domestic Valid IDs 38.40 million (YoY +2.63 million, Increase from beginning of term+2.25 million) AEON Pay members Card members ※1 No. of AEON bank accounts E-money WAON ※2 10.30 million 26.57 million 8.87 million 6.06 million (Increase of 2.14 million (Increase of 0.41 milli
Slide 40: [Domestic] Per-Person Outstanding Debt Balance Trends
[Domestic] Per-Person Outstanding Debt Balance Trends Shopping Revolving/Installment Loans Cash Advance Receivables (Thousand JPY) (Thousand JPY) 400 400 359 362 362 363 366 354 356 346 349 338 342 331 335 326 327 300 282 285 300 270 277 267 256 247 233 237 221 225 216 215 207 209 200 200 100 100 0
Slide 41: [Domestic] Third Quarter Balance Sheet Status
[Domestic] Third Quarter Balance Sheet Status • Most domestic funding comes from bank deposits. We aim to reduce funding costs by increasing the proportion of demand deposits • Increase the proportion of high-yielding debt* in assets to enhance asset profitability Loans Average Yield*1 *High-yield d
Slide 42: Impact of partial changes to transactions in the domestic segment
Impact of partial changes to transactions in the domestic segment • Due to the acquisition of the WAON Value Issuer business and a partial review of internal transactions, there has been a partial change in the accounting of revenues and expenses between ABK(retail) and AFS(solutions). This is a cha
Slide 43: Cumulative Results of Overseas Listed Companies (Yen conversion)
Cumulative Results of Overseas Listed Companies （Yen conversion） FY 202４ FY 202５ Exchange rates 3Q Results 3Q Results YoY Revenue 25.4 bn 25.8 bn 102% AEON (JPY/HKD) CREDIT Profit before tax 6.4 bn 8.0 bn 126% ・ FY2024Q3: ¥19.49 SERVICE ・ FY2024Q3: ¥19.06 (ASIA) Profit for the period 5.3 bn 6.7 bn 1
Slide 44: Cumulative Results of Overseas Listed Companies (Local Currency)
Cumulative Results of Overseas Listed Companies (Local Currency) FY 2024 FY 2025 3Q Results 3Q Results YoY AEON Revenue 1,304,551 1,358,074 104% CREDIT SERVICE Profit before tax 328,748 424,473 129% (ASIA) HK$’000 Profit for the period 275,307 352,703 128% AEON Revenue 16,747,306 16,216,541 97% THAN
Slide 45: Transaction Volumes and Operating Receivables of Global Business
Transaction Volumes and Operating Receivables of Global Business China Area Mekong Area Malay Area Global Business (Hong Kong) (Thailand) (Unit ： Bn JPY） YoY YoY YoY YoY (Change) (Change) (Change) (Change) Transaction volume 204.1 104% 225.6 85% 72.9 163% 502.7 99% Credit card Operating Receivables
Slide 46: Balance Sheet Status
Balance Sheet Status FY 202５ FY 202５ (Unit: Bn JPY) 3Q Results YTD 3Q Results YTD Cash and deposits 538.0 ▲ 276.7 Deposits 5,479.5 +273.3 Accounts Operating Loans 1,073.5 +93.5 payable-trade 512.2 +194.4 Loans and bills Interest-bearing discounted for 2,755.1 +84.6 debt 1,405.8 +96.5 banking busines
Slide 47: Segment Performance
Segment Performance Domestic Global Consol. （Unit ： Bn JPY） China Malay Total ※ Retail Solutions Total ※ Area Mekong Area Area Total ※ Operating 248.3 183.4 140.4 175.2 26.3 74.7 74.0 421.5 Revenue YoY 110% 127% 102% 110% 101% 104% 111% 108% Operating 13.6 4.4 10.0 27.9 8.1 10.9 8.9 41.7 Profit YoY
Slide 48: Results by Area
Results by Area Transaction Operating （Unit：Bn JPY） YoY receivables YTD volume （Before securitization） Credit card 6,165.6 105% 2,032.7 +172.3 Credit card shopping 5,871.7 106% 1,586.4 +153.9 Domestic （Of which, revolving and installment） - - 394.5 +33.0 Cash advance 293.9 102% 446.3 +18.4 Housing l
Slide 49: Allowance for Doubtful Accounts and Provision for Loss on Interest Repayment by Segments
Allowance for Doubtful Accounts and Provision for Loss on Interest Repayment by Segments 【Allowance for doubtful accounts】 Domestic Global Consol. （Unit： Bn JPY） China Mekong Malay Retail Solutions Area Area Area Total Total Total Opening allowance for ５7.2 1.7 55.9 66.3 5.0 32.9 28.3 124.4 doubtful
Slide 50: AEON Bank's progress in response to the business improvement order
AEON Bank's progress in response to the business improvement order • AEON Bank's improvement plan is progressing without delay • For completed items, continue enhancing operational sophistication through measures like introducing external services to strengthen the framework Details of the business
Slide 51: Forward-looking statements
Statements contained in this report with respect to the Company’s management strategies, business policies and results forecasts are forward- looking statements about the future performance of the Company, which are based on the assumptions and beliefs in light of the information currently available
AEON Financial Service — Q3 FY2025 Earnings Presentation on 6ix