ASKUL : Matters Concerning Controlling Shareholders, etc.

Disclaimer

This is an English translation of the captioned release. This document has been prepared and provided solely for the purpose of the reader's convenience. All readers are recommended to refer to the original Japanese release for complete information. In the event of any discrepancy between this English translation and the original Japanese release, the original Japanese document shall prevail in all respects.

August 20, 2021

To whom it may concern

Company Name	ASKUL Corporation
	(Code No.: 2678, Tokyo Stock Exchange First Section)
Representative	Akira Yoshioka
	President and Chief Executive Officer
Contact Person:	Tsuguhiro Tamai
	Director and Chief Financial Officer
	Phone: [phone]

Matters Concerning Controlling Shareholders, etc.

Askul Corporation (hereinafter referred to as "the Company") hereby announces matters on controlling shareholders, etc. regarding SoftBank Group Corp., Softbank Group Japan Corp., SoftBank Corp. and A Holdings Corporation, which are the parent companies of the Company's other affiliated company, and Z Holdings Corporation, which is an other affiliated company, as below.

1. Names and other information about an other affiliated company's parent companies or an other affiliated company

					(As of May 20, 2021)
		Holding ratio of voting rights (%)	Stock exchanges, etc.
Name	Affiliation				on which the shares to
Directly	Subject of	Total
		owned	totalization	holdings	be issued are listed.
SoftBank Group	Parent company of				Tokyo Stock Exchange
other affiliated	-	45.0	45.0
Corp.	First Section
company
SoftBank Group	Parent company of
other affiliated	-	45.0	45.0	Unlisted
Japan Corp.
company
	Parent company of				Tokyo Stock Exchange
SoftBank Corp.	other affiliated	-	45.0	45.0
First Section
	company
A Holdings	Parent company of
other affiliated		45.0	45.0	Unlisted
Corporation
company
Z Holdings	Other affiliated	45.0	-	45.0	Tokyo Stock Exchange
Corporation	company	First Section

2. Name of the company having the most influence on the listed company from among parent companies and the reason

Company name	Reason
Z Holdings	Z Holdings Corporation owns 45.0% of the voting rights in the Company, and the
Company has an officer who concurrently serves as an officer of Z Holdings
Corporation
Corporation and has received one officer on loan therefrom.

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Disclaimer

This is an English translation of the captioned release. This document has been prepared and provided solely for the purpose of the reader's convenience. All readers are recommended to refer to the original Japanese release for complete information. In the event of any discrepancy between this English translation and the original Japanese release, the original Japanese document shall prevail in all respects.

3. The position of the listed company in the corporate group and relationships with an other listed company and parent companies, etc.

Z Holdings Corporation, which is an other affiliated company, owns 45.0% of the voting rights in the Company, as mentioned above, but Z Holdings Corporation respects the fact that the Company is operated with independence of its business operations as an independent listed company. Although the Company has accepted an officer holding a concurrent position at, and a loaned officer from, Z Holdings Corporation, as mentioned below, the Company recognizes that the independence of the Company is secured because the number of such officers is low, which causes no constraint on the Company's business activities and management judgement via Z Holdings Corporation.

Since Z Holdings Corporation owns 45.0% of the voting rights in the Company, the Company is included in the scope of Z Holdings Corporation's consolidation under International Financial Reporting Standards (IFRS). The Company consents to this situation on the understanding that value should be increased for all stakeholders (customers, shareholders, business partners, and employees) and that the independence of its business operations should be maintained as a listed company.

(Officer who concurrently holds other positions)

Position	Name	Positions at parent companies, etc.	Reason for assuming office
		Z Holdings Corporation
		Director, Senior Managing Corporate
		Officer	For the further development of
Outside	Takao	(in charge of the commerce field)
"LOHACO," an Internet shopping
Director	Ozawa	Yahoo Japan Corporation
site for general consumers
		Director, Senior Managing Corporate
		Officer
		COO (Chief Operating Officer)
(Status of acceptance of officer on loan)
Position	Name	Parent company, etc.,	Reason for accepting loaned
that loaned the Directors	personnel
	Hironori		For the further development of
Director	Z Holdings Corporation	"LOHACO," an Internet shopping
Koshimizu
			site for general consumers

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Disclaimer

This is an English translation of the captioned release. This document has been prepared and provided solely for the purpose of the reader's convenience. All readers are recommended to refer to the original Japanese release for complete information. In the event of any discrepancy between this English translation and the original Japanese release, the original Japanese document shall prevail in all respects.

4. Matters concerning transactions with controlling shareholders, etc.

The following is the status of transactions with Yahoo Japan Corporation for the fiscal year ended May 2021. (From May 21, 2020 to May 20, 2021)

		Capital		Relationship		Transactio		Balance
					at term-
		Stock	Description of	in related	Transaction	n amount	Account
Name	Address	end
(1 million	business, etc.	description of	details	(1 million	title
		(1 million
		yen)		business		yen)
					yen)
Yahoo			Internet		Credit
Chiyoda-		Settlement	collection		Accounts
Japan	199,250	advertising	1,019	4,469
Corporation	ku, Tokyo		business, etc.	agency	service at		receivable
					LOHACO

(Note) Transaction amount does not include consumption tax, but the year-end balance includes consumption tax.

Transaction values are determined by negotiation based on market prices.

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