J. FRONT RETAILING Co. Ltd. announced that PARCO Co. Ltd., a consolidated subsidiary of the company, has decided to close the Tsudanuma PARCO and Shin-Tokorozawa PARCO stores. The Group has been moving forward with formulating its Medium-Term Business Plan, which is starting in fiscal 2021, in order to ensure corporate survival and sustainable growth amid the dramatic changes occurring in the environment affecting the Group's business. Beginning from the current fiscal year, the Group has first proceeded with taking on the core elements of those measures, namely "Management structure reform," "Digital transformation," and "Full creation of synergy with Parco." In order to achieve reform of the management structure, the Group will work on improving revenue by accelerating the transformation of business models and streamlining business operations by restructuring the Group's business to quickly build a future growth platform, while taking a serious look at the future survivability and growth potential of each of the Group's businesses and stores. As part of these efforts, PARCO Co. Ltd. has decided to close Tsudanuma PARCO and Shin-Tokorozawa PARCO in order to redistribute its limited management resources to growth fields, which it believes will contribute to the realization of sustainable growth. Tsudanuma PARCO decided the termination of operation on February 28, 2023 and Shin-Tokorozawa PARCO is terminated on February 29, 2024. Employment of employees will be continued through redeployment.