Financial Results for Q3, FY2021 March 1, 2021 - November 30, 2021

January 11, 2022

AEON MALL Co., Ltd.

Contents

1

Financial Results for Q3, FY2021

Financial Results for Q3, FY2021

Overview of Consolidated Results・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Change in Profit (Loss) by Segment (Vs. Q3, FY2019)・・・・・・・・・・・・・・・・・・・・・・・・

Revenue Performance by Segment (China, ASEAN, Japan) ・・・・・・・・・・・・・・・・・・・・・

Revenue Forecasts for FY2022 and Beyond・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Japan Specialty Store Sales (83 Existing Malls, Year-on-Year)・・・・・・・・・・・・・・・・・・・・・

Income Statement Summary・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Earnings by Segment・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Balance Sheet Summary・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Cash Flow Statement Summary・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

New Growth Initiatives

New Mall Opening and Revitalization Strategy (China)・・・・・・・・・・・・・・・・・・・・・・・・

Accelerate New Mall Openings (Vietnam)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Accelerating New Mall Openings (Indonesia)・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Entering New Businesses (Cambodia)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Improve Functions to Enhance the Ability of Malls to Attract Customers・・・・・・・・・・・・・・・・・

Offer Comfortable Spaces and Experiences to Increase the Length of Mall Visits・・・・・・・・・・・・・

Develop New Business Models・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Develop Business Models Based on Location Characteristics・・・・・・・・・・・・・・・・・・・・・

Co-Creation With External Partners・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Working With Local Communities to Create Renewable Energy Locally for Local Consumption・・・・・・

Measures to Address Environmental Issues・・・・・・・・・・・・・・・・・・・・・・・・・・・・

6R Initiatives・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Measures to Address Social Issues・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Expanding Sustainable Finance・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Management Structure for Listing on the Prime Market・・・・・・・・・・・・・・・・・・・・・・・・

Organization for Stronger Governance・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

Management Policies

P 3

Management Policies・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 4

Long-TermVision・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 5-7

Medium- and Long-Term Numerical Targets・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 8

Target Performance Indicators・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 9

Shareholder Returns・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 10

Three-YearMedium-Term Management Plan (FY2020 - FY2022)

P 11

Three-YearMedium-Term Management Plan・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 12

Overseas Business Accelerate New Mall Openings・・・・・・・・・・・・・・・・・・・・・・・・・

P 13

Overseas Business Strengthen Earnings Capacity of Existing Malls・・・・・・・・・・・・・・・・・・

Domestic Business Deepen Localization Initiatives・・・・・・・・・・・・・・・・・・・・・・・・・

P 15

Domestic Business Initiatives as a Center for Community Health・・・・・・・・・・・・・・・・・・・

P 16

Domestic Business Create Added Value Through New Business Model Development・・・・・・・・・・

P 17

Domestic Business Build Next-Generation Malls・・・・・・・・・・・・・・・・・・・・・・・・・・

P 18

Domestic Business Reform Business Portfolio・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 19

Direction of Initiatives to Achieve Digital Transformation (DX)・・・・・・・・・・・・・・・・・・・・・

P 20

Digital Transformation (DX) Initiatives・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 21

Digital Transformation (DX) and the Future of AEON MALL・・・・・・・・・・・・・・・・・・・・・・

P 22

Establish Governance Structures Supporting Growth Policies・・・・・・・・・・・・・・・・・・・・・

P 23

Build a Financing Mix and Strengthen Governance Structures・・・・・・・・・・・・・・・・・・・・・

P 24

ESG-BasedManagement・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 25

Engaging With Materiality・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 26

Measures Addressing Materiality・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 27

Three-YearFinancial Targets・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

P 28

Three-Year New Mall Opening, Revitalization Plans・・・・・・・・・・・・・・・・・・・・・・・・・

P 29

Three-Year Capital Investment and Funds Acquisition Plan・・・・・・・・・・・・・・・・・・・・・・

P 30

FY2021 (Fiscal Year Ending February 2022) Consolidated Plan・・・・・・・・・・・・・・・・・・・・

Attachments (Mall Data)

List of Malls ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

  1. 32 P 33 P 34 P 35 P 36

P 38

  1. 39-41P 42 P 43 P 44 P 45 P 46 P 47 P 48 P 49 P 50 P 51 P 52 P 53 P 54 P 55 P 56 P 57 P 58 P 59-60

P 62-66

2

Q3, FY2021: Summary of Financial Results

Financial Results for Q3, FY2021

3

Overview of Consolidated Results

Consolidated Statements of Income

FY2021

FY2020

YoY Change

Q3 Actual

Q3 Actual

Change

Operating revenue

233,286

202,683

30,603

115.1

Operating costs

183,459

159,736

23,723

114.9

Gross profit

49,827

42,947

6,880

116.0

Selling, general and

21,480

19,913

1,567

107.9

administrative expenses

Operating income

28,346

23,034

5,312

123.1

Ordinary income

23,755

18,909

4,845

125.6

Net income (loss) attribute

16,457

-4,599

21,057

to owners of parent

Net income per share (yen)

72.32

-20.21

92.53

FY2019

Vs. FY2019

Q3 Actual

Change

240,573

-7,286

97.0

177,137

6,321

103.6

63,435

-13,608

78.5

21,169

311

101.5

42,265

-13,919

67.1

36,783

-13,027

64.6

23,503

-7,046

70.0

103.31

-30.99

(Unit:millions)

Full-Year Plan

Progress rate

(%)

344,000 67.8

- -

- -

- -

59,000 48.0

50,500 47.0

31,000 53.1

136.23

Despite higher revenue and profits year on year, the continued spread of COVID-19 resulted in shortened

operating hours at malls in Japan and overseas and closures among certain businesses. Accordingly, profits have yet to return to the level of two years ago (fiscal 2019), before the outbreak of COVID-19.

We recorded fixed costs of ¥3.6 billion incurred during the temporary closure period as extraordinary losses due to COVID-19.

Financial Results for Q3, FY2021

4

Change in Profit (Loss) by Segment (Vs. Q3, FY2019)

(Unit: ¥, millions)

Operating Revenue

Gross Profit

Operating Income

Q3 FY2019

Vs. FY2019

Q3 FY2019

Vs. FY2019

Q3 FY2019

Vs. FY2019

(Actual)

(Actual)

(Actual)

Domestic Mall

176,042

186,082

-10,039

40,165

52,843

-12,678

23,240

36,877

-13,637

Existing Mall

162,884

180,439

-17,554

39,861

52,647

-12,786

New Mall

7,788

246

7,541

54

-13

67

Other

5,370

5,397

-26

250

209

41

Urban SC

15,532

18,456

-2,923

68

1,294

-1,226

-1,322

-756

-565

Domestic Total

191,575

204,538

-12,963

40,233

54,137

-13,904

21,917

36,120

-14,202

China

31,428

26,489

4,939

7,098

6,365

733

5,247

4,107

1,139

ASEAN

10,282

9,545

737

2,476

2,913

-436

1,162

2,019

-856

Vietnam

5,686

3,677

2,008

1,877

1,259

618

1,414

882

531

Cambodia

2,067

2,995

-927

495

1,053

-558

387

923

-535

Indonesia

2,528

2,872

-343

103

600

-496

-618

213

-832

Other

-20

-20

Overseas Total

41,711

36,034

5,676

9,574

9,278

296

6,409

6,126

283

Adjustment

18

18

18

18

Domestic and Overseas Total

233,286

240,573

-7,286

49,827

63,435

-13,608

28,346

42,265

-13,919

[Comments Concerning Comparisons With FY2019 (Pre-COVID-19)]

As the spread of COVID-19 continues in Japan, declarations of emergency were implemented on an intermittent basis through September 30, despite the easing of business restrictions. In spite of our efforts to reduce costs, the significant impact of the decline in consumer confidence resulted in lower revenue and profits.

In China, specialty store sales trends picked up quickly, and operating income increased ¥1.1 billion, despite the temporary impact of the outbreak of COVID-19 throughout the country and the closure of certain AEON MALL malls.

In ASEAN, operating income fell due to the impact of the spread of COVID-19 in Vietnam and the implementation of urban blockades in areas where our malls are located.

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Disclaimer

Aeon Mall Co. Ltd. published this content on 11 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2022 06:07:02 UTC.