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(Summary)
FY2025 2Q
IR Presentation Material
October 9, 2025
Stock Listing: Tokyo Stock Exchange, Prime Market Code No: 8570
AEON Financial Service Co., Ltd. 1
目次
１ Outline of the Financial Results for the Six Months Ended
August 31, 2025
２ Priority Measures
3 Forecast of Business Performance and Dividends for FY2025
Appendix
AEON Financial Service Co., Ltd. 2
The Highlights of the Consolidated Results
Consolidated YoY FY2025 Rate of
Forecast progress
Domestic YoY Global YoY
Operating
revenue ２7８.１ bn １0９ ％ 16５.３ bn １1１ ％ 114.7 bn １06 ％ 570.0 bn 49 ％
Operating
profit 28.3 bn 104 ％ 9.5 bn 100 ％ 18.7 bn １07 ％ 57.0 bn 50 ％
Ordinary
profit 29.1 bn 108 ％ － ー － ー 57.0 bn 51 ％
Profit attributable
to owners of ８.7 bn ８６ ％ － ー － ー 21.0 bn 4２ ％
parent
AEON Financial Service Co., Ltd. 3
The Highlights of the Consolidated Results 2Q Accounting Period (3 months)
Consolidated YoY
Domestic YoY Global YoY
Operating
revenue 14１.６ bn １1１ ％ 8４.２ bn １1５ ％ ５8.３ bn １06 ％
Operating
profit １5.3 bn １29 ％ 6.0 bn 192 ％ 9.3 bn 106 ％
Ordinary
profit １5.3 bn 138 ％ － ー － ー
Profit attributable
to owners of ４.3 bn １０６ ％ － ー － ー
parent
AEON Financial Service Co., Ltd. 4
Summary of First Half Consolidated Financial Results
Expanding smartphone customer base both domestically and internationally, the number of consolidated valid IDs reached 57.24 million (+1.52 million from the beginning of the fiscal year).
In addition to growth in transaction volume and operating receivables, increased financial revenue in the domestic banking businesses.
Improvement of asset profitability Improvement of productivity Review of business portfolio
・Increase in balance of high-yield receivables※1 ・Financial revenue exceeded the increase in ・Transfer of AEON Allianz Life Insurance Co.,
expenses Ltd.'s※2 shares to Meiji Yasuda was
in the global business ・Increase in bad debt-related expenses was
Domestic : 763.1bn（YoY100％） suppressed despite the increase in receivables completed on July 1, 2025.
Global :１,0８０.３bn（YoY1１１％ ） ・In addition to the system impairment loss
(-2.7 billion yen) recorded in the first quarter, a loss on the transfer of shares was
Other recorded (-9.5 billion yen).
revenue
+２.５ Units ： Bn JPY
Financial
Financial expenses Bad debt Revenue Expenses
Loan revenue +１０.５ related
revenue +１１.７ expenses Other Installment +４.３ ＋３.４ expenses
finance revenue ＋7.２
(comprehensive
２７.１ /individual) ２８.3
＋3.7
bn bn
Operating Revenue YoY１０９％ Operating expenses YoY１０９％ YoY１０4％ ８.７bn
（＋２２.３ bn） （＋２１.１bn）
YoY８６％
２4/2Q Operating Pro㉀t ２5/2Q Operating Pro㉀t ２5/2Q Net Income
※１ High-yield operating receivables: domestic revolving/installment loans, cash advances, unsecured loans, and receivables in international business
AEON Financial Service Co., Ltd. ※2 On October 1st, the company name was changed to "Meiji Yasuda Trust Life Insurance Co., Ltd." 5
Domestic Business
AEON Financial Service Co., Ltd. 6
[Domestic] Breakdown of Operating Profit
• Financial revenues in the banking business increased, while operating profits remained flat due to increases in deposit interest and general administrative expenses.
Bad debt- General and related
expenses administrative
＋0.９ expenses
＋11.0
Promotional expenses
▲0.９
９.４bn ９.５ bn
２4/２Q ２5/２Q
AEON Financial Service Co., Ltd. ※Starting this ㉀scal year, some expenses will be recorded as general expenses instead of sales promotion expenses. 7
Main factors
Unit ： bn Yen
Financial
Other expenses
Increase in Decrease in revenue ＋９.１
revenue revenue Financial +4.7
Decrease in
expenses expenses
+１１.７ Securitization AEON AEON
revenue
▲0.０ Allianz Life Allianz Life
Insurance Insurance
impact impact
Credit card （Revenue） （Expenses）
revenue ▲２.５ ▲３.３
＋３.０
Operating Operating
revenue expenses
＋１6.9 bn ＋１6.8 bn
[Operating revenue] [Operating expenses]
・Card revenue＋３.０bn ・Financial expenses ＋9.1bn
（Credit card business ＋２.０bn、Financing ＋0.９bn） （Interest on deposits ＋6.4bn、Rebalancing of government bonds ＋
１.3bn）
・Financial revenue ＋１１.７bn ・Promotional expenses ▲0.9bn （Excluding the impact of change in
（Interest and dividends +６.０bn、Gains on sales of securities +１.６bn、
Loan interest +１.６bn） recording expenses ※ +0.9bn）
・General and administrative expenses＋１１.０bn （Excluding the impact
・Other revenue ＋４.７bn of change in recording expenses※ ＋9.2bn）
（Fees and commissions revenue +４.５bn） （System operating costs ＋2.８bn、Payment fees ＋2.0bn、
Personnel costs +0.9bn）
Productivity
［Domestic］ Valid ID Status （Increasing revenue）
• Increase in valid IDs, mainly among AEON Pay code payment users who use charge payments (increase of +1.33 million from the beginning of the period)
（million） 37.49million
40
（YoY＋2.35million / Increase from
beginning of term ＋1.3３million）
30
20
*Valid ID: Number of customers using services such as AEON Card, AEON Pay, AEON Bank account, AEON Financial Service Co., Ltd. *If there are duplicate members, the names will be collated and tabulated. 8
Productivity
［Domestic］ Customer base ＜AEON Card、AEON Pay＞ （Increasing
revenue）
• The number of new cardholders increased by 0.36 million (96% YoY), and the number of active cardholders increased by 0.31 from the beginning of the fiscal year.
• AEON Pay's acceptance locations, including convenience stores, have expanded, bringing the total number of cardholders to 9.48 million.
Number of AEON Pay ID registered members, utilization
Number of valid card holders, rate, and number of available locations
utilization rate ３.６million KPI：
＋１.００ million
（Million） （Million） (Increase from beginning of （Progress ５７％）
term＋0.５7million）
27 70.0% 10 9.48million 23.0%
26.47million 3.03 term＋1.32 million）(Increase from beginning of
（Increase from beginning million
of term ＋0.3１ million） Number of places
available for use 21.6％
２.２４ (YoY+1.5pt)
million
26 68.0% 8 21.0%
66.5％
(YoY▲0.6pt)
25 66.0% 6 19.0%
240 640.0% 4 0 17.0%
2４/2Q 3Q 4Q 2５/1Q 2Q 24/2Q 3Q 4Q 2５/1Q 2Q
AEON Financial Service Co., Ltd. 9
Productivity
[Domestic] In-house Transaction Volume （Increasing
revenue）
• Transaction volume increased due to the spread of AEON Group benefits and the promotion of AEON Pay usage
In-house transaction volume AEON Pay transaction volume
４,９２５.３billion 216.0billion（billion） （YoY 104%） （billion）
6,000 E-money transaction （YoY 14９%）
volume 240
KPI：10 trillion AEON Pay charge payment
Credit card （Progression: ４９％）
transaction volume AEON Pay credit payment Charge payment
E-money １８.２billion
(YoY ２８８%)
１,0１８.８billion
4,000 (YoY ９９%) 160
Credit
Credit card payment
2,000 shopping 80 197.7billion
３,9０６.５billion (YoY 1４３%)
(YoY 10５%)
0 0
21/２Q 22/２Q 23/２Q 24/２Q 25/２Q 23/２Q 24/２Q 25/２Q
AEON Financial Service Co., Ltd. 10
Improvement of
［Domestic］ Status of high-yield loans asset profitability
• High-yield receivables ratio （after liquidation） declined due to the liquidation of receivables at the end of the previous fiscal year, but has recovered by +0.2 points from the beginning of the fiscal year.
Balance before securitization of receivables 866.5 billion High-yield receivables ratio and balance trends（After liquidation
of receivables）
Revolving/installment （Increase from beginning of ※High-yield receivables: revolving/installment loans, cash advances,
（billion） Balance term +２4.6billion/YoY106%） unsecured loans Total domestic 5.0trillion
1,000 Cash advance/unsecured operating
loan balance KPI：＋55.0billion receivables
（Progression ４5％）
4,477.3bn 4,572.6bn
Shopping revolving
772.8bn Increase from 4,205.5bn
750 beginning of term
＋16.9bn 12,000 24%
/YoY112% High-yield receivables
Installment finance 763.1bn １.0trillion
Increase from （Increase from beginning of term
500 beginning of term +３7.8bn/ YoY100%）
+0.5bn 8,000 764.0bn 20%
/YoY103% 678.4bn
Cash advance 20.0%
Increase from
beginning of term
250 ＋7.2bn 4,000 17.1% Ratio 16%
/YoY103% 16.7%
Unsecured loans 16.1% (▲0.4ｐt)
Increase from
beginning of term
0 ＋0.0bn 0 12%
20/2Q 21/2Q 22/2Q 23/2Q 24/2Q 25/2Q /YoY 99% 23/2Q 24/2Q 25/2Q
AEON Financial Service Co., Ltd. 11
[Domestic] Bank Deposits
• Deposit balances grew steadily, increase of 303.7bn from the beginning of the term
• Promoting accounts for everyday use （MyStage ratio QoQ＋0.2pt）, acquiring regular deposit accounts
AEON Bank Deposit Balance 5,５05.3bn Promoting accounts for everyday use（Increase from beginning of term "AEON Bank My Stage" ※1 Rankings※２Composition Ratio
（billion） ＋３03.7bn、YoY １１4％）
6,000 KPI：＋500.0bn 100%
（Progression 61％） ２５.２％
（YoY ＋1.１pt)
4,500
50%
3,000 ※2 Stage Composition
Ratio
AEON Bank Gold Stage＋
0% Platinum Stage
23/2Q 24/2Q 25/2Q Composition Ratio
1,500 *1 AEON Bank My Stage
Preferential treatment Platinum
system based on transaction
details Gold Stage
Silver Stage
0 ①Credit, WAON use history Stage
21/２Q 22/２Q 23/２Q 24/２Q 25/２Q ②Housing loans/Unsecured Bronze
loans Stage
AEON Financial Service Co., Ltd. ③Salary/pension accounts 12
[Domestic] Housing Loans
• The interest rate differential with competitors widened following the interest rate revision in March. Housing loan volume increased 67% YoY.
• Started offering 35-year long-term loans in April. Increased pre-application numbers due to strengthened online sales promotions.
Housing loan volume Monthly number of pre-applications
for residential mortgages(YoY)
（billion）
400
115%
113%
300 108% １１０％ 109%
105%
213.0bn
（YoY 67％） 98% 99% 98%
200
94%
93% 93% 93%
90% 90%
87% 88%
100
77%
0
2１/２Q 22/２Q 23/２Q 24/２Q 25/２Q March, September, March,
2024 2024 2025
AEON Financial Service Co., Ltd. 13
［Domestic］ Controlling expenses through bad debt-related Productivity
expenses and productivity improvements （Cost control）• The ratio of bad debt expenses to the operating receivables balance remains low and stable.
• To reduce labor costs, the Company will continue to work on improving productivity through digital transformation and reviewing of costs.
Quarterly trends in bad debt-related
expense ratio Quarterly personnel cost rate
※Bad debt-related expense ratio to the total balance of operating
※Operating revenue/Personnel cost rate
loans and installment receivables
0.8% 23.0%
0.6% 21.0%Line of
best fit
0.4% 19.0%
Personnel cost rate
0.2% 17.0%
0.0% 15.0%
23/2Q 2３/3Q 23/4Q 24/1Q 24/2Q 24/3Q 24/4Q 2５/１Q 2５/2Q 23/2Q 2３/3Q 23/4Q 24/1Q 24/2Q 24/3Q 24/4Q 2５/１Q 2５/2Q
AEON Financial Service Co., Ltd. 14
Global Business
AEON Financial Service Co., Ltd. 15
[Global] Performance Highlights by Segment
• The global business as a whole achieved increased revenue and profits for both the cumulative and accounting periods.
• Operating profits for the Malay area turned to increase in the second quarter
Global business China area Mekong area Malay area
Interim period
（６ months）
YoY YoY YoY YoY
Operating revenue 1１４.７ bn １０６ ％ １７.１ bn ９９ ％ ４９.２ bn １０３ ％ ４８.２ bn １１１ ％
Operating pro㉀t １８.７ bn １０７ ％ ５.２ bn １３３ ％ ７.９ bn １１６ ％ ５.５ bn ８２ ％
＜Reference＞
Bad debt-related ３７.６ bn １０７ ％ ３.８ bn ８3 ％ １６.５ bn ９５ ％ １７.２ bn １３１ ％ exp.
Global business China area Mekong area Malay area
2Q accounting
period
（３ months） YoY YoY YoY YoY
Operating revenue ５８.３ bn １０６ ％ 8.６ bn １００ ％ 2４.９ bn １０２ ％ ２４.７ bn １１２ ％ Operating pro㉀t ９.３ bn １０６ ％ ２.８ bn １３８ ％ ３.８ bn ９1 ％ 2.６ bn １０６ ％
＜Reference＞
Bad debt-related １９.５ bn １０８ ％ １.９ bn ８２ ％ ８.７ bn 1０２ ％ ８.９ bn １２４ ％ exp. Average exchange rate during the period
※Figures in () are the diff from the same period of the previous ㉀scal year
AEON Financial Service Co., Ltd. HKD ： ¥１８.７８(４.3％ stronger yen) THB ： ¥4.４３(4.2％ weaker yen) MYR ： ¥3４.０９(3.4% weaker yen 16
[Global] China Area Performance Highlights
• Although revenue remained flat due to strengthened screening and ongoing credit screening, profits increased due to cost reductions in bad debt-related expenses and sales promotion expenses
Operating revenue Breakdown of operating profit difference from previous FY（billion）
20 17.1bn 5.2bn
(YoY １33%)
(YoY 99%)
Other
15 3.9bn Revenue ▲0.4
▲0.1
Bad debt-Financial Personnel related expenses costs expenses
▲0.2 ▲0.０ ▲0.7
10
5
0
21/2Q 22/2Q 23/2Q 24/2Q 25/2Q 24/2Q 25/2Q
AEON Financial Service Co., Ltd. 17
[Global] Mekong Area Performance Highlights
• Despite the worsening macro environment, tighter credit standards led to improvement of bad debt-related expenses, resulting in continued profit growth.
Operating revenue Breakdown of operating profit difference from previous FY49.2bn
（billion） (YoY １０3%) Revenue ７.９
50 ＋１.６ Other bn
＋0.０ (YoY １１６%)
Financial
６.８bn expenses
＋0.４ Personnel Bad debt-
38 costs related
＋0.８ expenses
▲0.８
25
13
0
21/2Q 22/2Q 23/2Q 24/2Q 25/2Q 24/2Q 25/2Q
AEON Financial Service Co., Ltd. 18
[Global] Malay Area Performance Highlights
• Double-digit revenue growth continues, driven by increased transaction volume and balances for installment sales of medium- and large-sized motorcycles.
• Operating profit declined due to increased bad debt-related expenses resulting from an expansion in receivables and an increase in bad debts, primarily among younger customers.
Breakdown of operating profit
Operating revenue difference from previous FY
（billion） 48.２bn
50 (YoY 111%)
Revenue Personnel
＋４.７ costs
＋0.０
38 Financial
expenses
＋１.０
６.７bn
25 ５.５bn
Bad debt- (YoY ８２%)
related Digital Other expenses bank ＋0.６
＋４.０ ＋0.３
13
0
21/2Q 22/2Q 23/2Q 24/2Q 25/2Q 24/2Q 25/2Q
AEON Financial Service Co., Ltd. 19
[Global] Control of Credit in Malaysia
• Will balance receivables across multiple products and build a receivables portfolio that is resilient to changes in the external environment.
• Through credit control based on collection status, will expand profits while stabilizing bad debt-related expenses.
Receivables Factors behind the increase in bad debt-related
balance expenses and efforts to stabilize them
600 （billion） Factors behind the Efforts to stabilize
Credit cardincrease in bad debt- expenses
（comprehensive） related expenses
35 Expanding
Improving productivity in the
＋２８％ portfolio to A rebound increase due to government
Personal avoid ０１ measures (pension withdrawal program accounts receivable management
and benefits) implemented in the first department by revamping the
27 loans dependence quarter of the previous fiscal year telephone call system
400 on motorcycle
＋２７％ 167 and automobile Expanding the handling of large
131 supplies Increase in provision requirements under motorcycles and new car
０２ IFRS 9 due to sudden increase in balance installment sales, developing the
credit card business
Installment Expanding
from small
200 payments motorcycles to Analyze repayment status by
Increased proportion of personal loans
＋１５％ 320 large ０３ with high yields and default risk detailed attributes and reflect it in
279 motorcycles credit decisions
and
automobiles Launch of new membership
０４ Increase in bad debts, especially among program and promotion of
younger generations
refinancing for top members
0
24/2Q 25/2Q
AEON Financial Service Co., Ltd. 20
[Global] Balance of Receivables and NPL of Listed Subsidiaries
• ACSA：Although the number of bankruptcy ㉀lings across the market remains hi
• AEONTS ：Although the bad debt expense ratio has increased due to worsening macroeconomic indicators, the NPL ratio has
remained stable.
• ACSM：In response to the rising NPL ratio, the company plans to strengthen screening for personal loans, bad debt expense ratio has risen slightly.
■ ACSA（Hong Kong） （Billion） ■ AEONTS（Thailand） ■ ACSM（Malaysia）
（Billion） （Billion）
12.0% Operating loans (Right) 200 12.0% 400 12.0% 560
Installment receivables (Right) NPL ratio（Left）
9.0% 150 9.0% 300 9.0% 420
Bad debt expenses/operating receivables
(Left)
6.0% 100 6.0% 200 6.0% 280
※
3.0% 50 3.0% 100 3.0% 140
※
0.0% 0 0.0% 0 0.0% 0
2023 2024 2025 2023 2024 2025 2023 2024 2025
※Impact of revision of NPL recognition criteria for ※Impact of the withdrawal of reserves for ㉁ood restructuring contract receivables damage that occurred in the second quarter of 2024
Year-end rate ※Figures in （） are the diff from the previous quarter
AEON Financial Service Co., Ltd. HKD ： ¥１８.8５(2.7％ Weaker yen) THB ： ¥4.54(2.9％ Weaker yen) MYR ： ¥3４.93(2.5％ Weaker yen) 21