Slide 1: FY2026 First Quarter Results Presentation
FY2026 First Quarter Results Presentation July 10, 2026
Slide 2: Agenda
１ Consolidated Results FY2026-FY2030 Group Medium-term Management Plan 2 Progress on Key Initiatives and Segment Performance Overview ⚫ Create Market-Leading Businesses ⚫ Build next-generation growth businesses Agenda ⚫ Transform the food retail profit structure ⚫ Revitalize existing businesses ⚫ Se
Slide 3: Consolidated Results
Consolidated Results Health & Wellness, Developer & Entertainment, and ASEAN—our designated profit growth drivers— led earnings growth, resulting in a strong 33.6% year-on-year increase in operating profit. First-quarter results exceeded the assumptions underlying the full-year earnings outlook. FY2
Slide 4: Agenda
１ Consolidated Results FY2026-FY2030 Group Medium-term Management Plan 2 Progress on Key Initiatives and Segment Performance Overview ⚫ Create Market-Leading Businesses ⚫ Build next-generation growth businesses Agenda ⚫ Transform the food retail profit structure ⚫ Revitalize existing businesses ⚫ Se
Slide 5: Create Market-Leading Businesses | Health & Wellness
Create Market-Leading Businesses | Health & Wellness • Both the TSURUHA Group and the WELCIA Group posted significant profit growth, supported by the steady realization of integration synergies. • Alongside gross margin improvements stemming from integration benefits, enhanced pricing discipline and
Slide 6: Create Market-Leading Businesses | Developer & Entertainment (Japan)
Create Market-Leading Businesses | Developer & Entertainment (Japan) ◼ AEON Mall delivered significant profit growth both in Japan and overseas. In Japan, tenant sales were driven by experiential content tailored to consumers' preference for affordability, proximity, and convenience. In addition, st
Slide 7: Create Market-Leading Businesses | Developer & Entertainment (Overseas)
Create Market-Leading Businesses | Developer & Entertainment (Overseas) ◼ AEON Mall achieved stronger profit growth in both China and Vietnam than in Japan. ◼ In China, customer traffic increased as the revitalization of existing malls tailored to consumer needs proved successful. In Vietnam, the bu
Slide 8: Build next-generation growth businesses | International Business (Retail Business)
Build next-generation growth businesses | International Business (Retail Business) *1 ◼ ASEAN: Driven by strong performance in Malaysia and Vietnam, operating profit increased by approximately 1.5 times year on year, more than offsetting weakness in the China business and resulting in significant pr
Slide 9: Transform the food retail profit structure | Supermarket and Discount Store Business
Transform the food retail profit structure | Supermarket Business and Discount store Business ◼ SM and DS reported lower profit as top-line growth remained sluggish, reflecting a reactionary decline from the previous year's surge in rice prices and discrepancy between pricing and promotional activit
Slide 10: Transform the food retail profit structure | Short-Term Initiatives for Earnings Recovery
Transform the food retail profit structure | Short-Term Initiatives for Earnings Recovery ◼ Promoting initiatives to strengthen price competitiveness, enhance product competitiveness, and reform operations to restore earnings in FY2026 ◼ Expand TOPVALU “ g ” (products with annual sales exceeding ¥1
Slide 11: Transforming the food retail profit structure | Overview
Transforming the food retail profit structure | Overview Reproduced from the FY2026–FY2030 Group Medium-term Management Plan ◼ Shift to a business structure that links merchandise, store operations, and format as an integrated whole ◼ HLDGS will lead the establishment of the platform and framework s
Slide 12: Transforming the food retail profit structure | Reforming Gross Margin and Cost Structures
Transforming the food retail profit structure | Reforming Gross Margin and Cost Structures ◼ Initiatives to reform gross margin and cost structures are making steady progress toward building an earnings structure that converts scale into profit. Expansion of Process Center Utilization Group-wide Joi
Slide 13: Revitalize existing businesses | General Merchandising Store (GMS) Business
Revitalize existing businesses | General Merchandising Store (GMS) Business ◼ Food sales remained sluggish due to the reversal of the prior-year benefit from elevated rice and vegetable prices, resulting in a wider operating loss. ◼ Non-food categories—including Apparel, Home & Leisure, and H&BC—del
Slide 14: Revitalize existing businesses | GMS Business, AEON Retail
Revitalize existing businesses | GMS Business, AEON Retail ◼ Food gross profit declined, resulting in a wider operating loss. Meanwhile, non-food categories—including Apparel, Home & Leisure, and H&BC—delivered higher gross profit. ◼ & x c g cc f x c f “ c ” g d sales floor model initiatives impleme
Slide 15: Revitalize existing businesses | Financial Services Business
Revitalize existing businesses | Financial Services Business ◼ Transaction volume and receivables balances expanded both in Japan and overseas, resulting in significant profit growth. ◼ In Japan, installment receivables and mortgage loan balances increased. AEON Pay membership grew by 1.6 million fr
Slide 16: Segment Performance FY2026 1Q
Segment Performance FY2026 1Q Operating revenue Operating profit (Billion yen) Amount YoY % Change Amount YoY Diff. YoY % Change General Merchandising Store (GMS) 923.2 3.9% -3.4 -1.6 - Supermarket*1 757.2 -0.4% -0.8 -7.7 - S Discount Store 109.2 1.1% 0.2 -1.5 -85.8% e Health & Wellness*2 638.0 89.9
Slide 17: Agenda
１ Consolidated Results FY2026-FY2030 Group Medium-term Management Plan 2 Progress on Key Initiatives and Segment Performance Overview ⚫ Create Market-Leading Businesses ⚫ Build next-generation growth businesses Agenda ⚫ Transform the food retail profit structure ⚫ Revitalize existing businesses ⚫ Se
Slide 18: FY2026 Forecast
FY2026 Forecast ◼ First-quarter results outperformed assumptions underlying the full-year forecast. ◼ In the second quarter, the Group will continue to promote cooling and heat-relief initiatives, building on last ’ efforts to address consumer needs arising from extreme summer heat. ◼ We will accele
Slide 19: Appendix
Appendix Agenda Copyright 2026 AEON CO., LTD. All Rights Reserved. 18
Slide 20: Consolidated Balance Sheet at the End of May 2026
Consolidated Balance Sheet at the End of May 2026 Assets (main items only) Liabilities and (Billion yen) net assets (main items only) (Billion yen) Feb. 2026 May 2026 Change Feb. 2026 May 2026 Change Notes and accounts 1,475.9 1,629.3 +153.4 Cash & deposits 1,350.0 1,213.5 -136.5 payable Interest-be
Slide 21: Consolidated Results – 5-Year Trend
Consolidated Results – 5-Year Trend Operating revenue Operating profit (Billion yen) (Billion yen) （億円） 80.0 75.2 3,000.0 2,941.9 70.0 2,800.0 60.0 56.2 51.4 2,600.0 2,566.8 47.7 50.0 43.8 2,449.2 2,400.0 40.0 2,324.7 2,203.2 30.0 2,200.0 20.0 2,000.0 10.0 1,800.0 0 0.0 0 22.1Q 23.1Q 24.1Q 25.1Q 26.
Slide 22: Dividends
Dividends FY2025 FY2026 Forecast ( ) Figures Before Stock Split* Adjustment (Figures Before Stock Split* Adjustment) End of the second 7.5 yen quarter 20 yen (22.5 yen) 7 yen 7.5 yen Fiscal year-end (21 yen) (22.5 yen) 27 yen 15 yen Total (41 yen) (45 y e n ) * A 3-for-1 stock split of common shares