Aeon : Notice of the 98th Ordinary General Meeting of Shareholders(1,502KB)(new window. for

Notice of the 98th Ordinary General Meeting of Shareholders

(from March 1, 2022 to February 28, 2023)

We Are Offering a Splendid Present to All Shareholders Who Exercise Their Voting Rights!

Voting rights are an important right of shareholders to participate in the Company's management. You can exercise your voting rights beforehand either by postal mail or electromagnetic means (via the internet, etc.). We are preparing a splendid present for shareholders who exercise their voting rights. By all means, please exercise your voting rights beforehand.

[Start of System for Providing Informational Materials for the General Meeting of Shareholders in Electronic Format]

Following the introduction of the system for providing information in electronic format in accordance with revisions to the Companies Act, the provision of informational materials for the General Meeting of Shareholders has, in principle, been changed from providing paper-based documents to posting online. However, as was done previously, the Company will provide paper-based documents of portions of the reference documents and business report to shareholders this year. To view all of the informational materials for the General Meeting of Shareholders, please access the websites provided in this notice.

AEON Group Future Vision

Create a future lifestyle that leads to a smile for each and every person

AEON CO., LTD.

Stock code: 8267

Director, President and Representative Executive Officer

Greetings

May 2023 Akio Yoshida

(Translation for reference purposes only)

We would like to express our sincere gratitude to you, our shareholders, for your continued support.

Although FY2022 saw economies picking up as the COVID-19 pandemic came under control, the lives of consumers were impacted by higher prices due to worldwide inflation, and corporate management as well was affected by unprecedented upward pressure on costs. In this challenging business environment, by ensuring that we shifted to the implementation phase of the growth strategies set forth in the Aeon Group Medium-term Management Plan, we were able to achieve increases in both revenue and profit in the Group's consolidated financial results for FY2022.

With regard to product initiatives, by advancing our stance on supporting lifestyles through TOPVALU products while proceeding with development of unique products, we received the support of many customers. In addition, in terms

of digital initiatives, we have been seeing increases in convenience and productivity mainly as a result of expanding the use of self-checkout registers and introducing digital tools for supporting the staff at stores.

FY2023, as the third year in the Aeon Group Medium-term Management Plan, represents the midpoint of the plan and we will strive to further enhance the plan's execution and work to establish a new foundation for growth looking ahead to 2030.

AEON has been practicing its "Customer-First" philosophy with its ever-lasting innovative spirit, underpinned by its Foundational Ideals of "pursuing peace, respecting humans, and contributing to local communities, always with customers as our starting point."

Particularly in this era of increasing uncertainty, I believe that a management approach based on our Foundational Ideals, which have been cherished over many years and are a central part of our business, is of even greater importance.

To enable stakeholders to gain a deeper understanding of the Group's stance, we have rewritten our Foundational Ideals to better reflect those underlying reasons and meaning. Accordingly, in regard to this matter, we propose the amendment of our Articles of Incorporation at this General Meeting of Shareholders.

While there have been significant changes in the business environment of AEON, the Company has diversified its business fields and grown into a corporate group with operating revenue of over 9 trillion yen. With a renewed belief that it was necessary to clarify the value of AEON's existence and the direction we should take, we formulated the "AEON Group Future Vision," indicating the vision for the AEON Group from a long-term perspective.

It is our hope that, by having shareholders and many other stakeholders share our vision for AEON, it will continue to serve as a company that is highly regarded and supported in any era by many people.

To our shareholders, we ask for your continued support and understanding going forward.

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(Translation for reference purposes only)

• AEON Group Future Vision

The Future that the AEON

Group Wishes to Realize

When customers can feel "a brighter society" and "happiness that is uniquely their own", their future will be fulfilling and full of smiles

Vision Statement

Create a future lifestyle that leads to a smile for each and every person

The Attitudes and Vow

that We Cherish

- Three attitudes - "Act spontaneously and follow your aspirations" "Keep learning to create new values"

"Build relationships, nurture them, and create together" - One vow -

"Always act with integrity and sincerity"

How the AEON Group

Wishes to Be

A Group that leads the co-creation of lifestyles, enriching each individual and society as a whole

We wish to be a group that will create a lifestyle in the future where smiles abound together with customers and stakeholders who share our vision. We wish to be a group that grows while enriching each individual and society as a whole through proprietary innovation and by leading co-creation. In order to realize these desires, we have formulated the "AEON Group Future Vision." Based on our unchanging basic philosophy of constantly innovating while continually putting customers first, we will create the future with our ever-lasting innovative spirit so that we can continue to be a company that draws expectations and support from many stakeholders generation after generation.

For further details on our future vision	https://www.aeon.info/company/code_of_conduct/
please read this digital booklet	(in Japanese)
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(Translation for reference purposes only)

• AEON Foundational Ideals

Pursuing peace, respecting humans, and contributing to local communities, always with customers as our starting point.

*

AEON firmly believes that retailing is an industry to promote peace, humanity, and local communities. To remain a thriving corporate group that fulfills this mission, we are committed to continuous innovation, with customers as our starting point.

Peace cannot be achieved without active and conscious engagement, whether it be in recovering from war and disaster or in maintaining and promoting living in peace. Our conviction is grounded in the real-life experience of Takuya Okada, Honorary Chairman and Senior Advisor to the President. After the Second World War, Mr. Okada witnessed a customer in line at a store, holding a flyer and weeping tears of joy, saying, "The war is really over," and he came to realize that the existence of retailing was a symbol of peace. From this realization, he decided that peace was a prerequisite for retailing to exist, and that retailing must contribute to the maintenance of peace.

Peace is more than just the absence of war and violence. It encompasses not only peace of mind but also resilience in the face of wars, disasters, and other hardships. Even in the 21st century, we continue to witness wars and face natural disasters such as earthquakes and extreme weather events more frequently than ever. This calls for us to rethink the value of peace now. Peace cannot be given by itself. Peace can only be maintained through our active and conscious engagement.

AEON will never do anything that contradicts peace. AEON will never take part in any such actions or activities. Our aim is to make a positive contribution to peace.

As for humans, by believing in and respecting each person, their abilities and aspirations will flourish, and by connecting with others, they feel much happier in their lives.

Honorary President Okada called the retailing sector a "humanistic industry." This means respecting the "human way," which includes having respect for each person's individuality, dignity, and autonomy. It also means believing in their potential and encouraging them to grow and become better humans through work and learning. However, it is difficult for humans to grow alone, and it is through "human connections" that we can become better humans together with others. It is both a realization of happiness and a pursuit of norms among people. In short, retailing is an industry of people's happiness and norms.

Enriching local communities requires us to respect the diversity and independence of each region, and to constantly meet and care for their specific needs.

Retailing is by nature a region-based industry that flourishes with the local communities. To maintain the richness and well-being of regions and the local communities within them, it is vital to take care of them continuously. This is one of the important roles of retailing. As regions and local communities increasingly become more important in the future, AEON will actively contribute to their prosperity by developing products tailored to each region and promoting the welfare of the local people.

AEON is committed to actively engaging in peace efforts, supporting human happiness and norms, and contributing to the prosperity of local communities. These ideals form the foundation of putting "customers as our starting point," which places the needs and preferences of our customers first at the center of our operations.

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(Translation for reference purposes only)

Putting our customers first means that we do not put ourselves first, that is, we do not think and act for our own convenience. On the contrary, we always put our customers first and act with the highest standards of integrity, which is the foundation of AEON. We will use this as a mirror to reflect ourselves and as the standard for every decision and action made by all AEON People. Even when it becomes tempting to prioritize our company's or personal interests or convenience, we must firmly resist and overcome such temptations to preserve our unwavering dedication to our customers.

To achieve this, AEON must be a corporate group that continues to innovate.

Ensuring a company's growth and survival is of paramount importance, but without constant innovation, it will decline and eventually perish. Even if maintaining the status quo is stable and comfortable, a company should not be complacent but continuously change and improve itself. Having the foresight and insight to constantly look ahead to changes in our customers and various social changes, it is essential for us to continue innovating. All AEON People are dedicated to anticipating the evolution and changes in our customers' lifestyles and the needs of society.

AEON has transformed from a family business to a corporation, and then to an industry. It has always preserved a dynamic corporate culture. However, as society changes faster and faster, we are most worried about losing the required innovative and entrepreneurial spirit and becoming stagnant like many large companies. We understand that static equilibrium, where the status quo continues without change, will not last at all. The only way to avoid being overtaken by newer innovators is for AEON to remain the largest and most advanced innovator. It is our firm determination to be an organization that constantly renews itself by keeping its founding spirit and staying ahead of its time.

AEON will act with the firm belief that by embodying and practicing these ideals, we can contribute to the maintenance and development of peace, humans, and local communities.

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