News Release: AEON DELIGHT Co., Ltd.

(9787 TSE Prime)
July 26, 2022

Notice of Change of Trade Name and Corporate Form (to Investment Company) of
Our Chinese Subsidiary, and Its Capital Increase

At the Board of Directors meeting held today, we announced that we have decided to change thename of our consolidated subsidiary AEON DELIGHT (CHINA) CO., LTD. (Hereinafter referred to as"AD China") and change its form to an investment company* to strengthen our customer-oriented groupmanagement structure in China and achieve further growth. To achieve this, we have also resolved toconduct a capital increase.
*Investment company: A form of corporation in China, that is permitted to engage in a broader range of business activities
than is normally permitted for foreign affiliates, such as investment in and financial support for intra-group companies byforeign affiliates, sales of products and services of intra-group companies, and R&D.

1. Purpose of change of trade name and corporate form
We have positioned China as the largest growth area in Asia and have expanded our business in thiscountry with two core operating companies: Aeon Delight (Jiangsu) Comprehensive Facility
Management Service Co., Ltd. and Wuhan Xiaozhu Comprehensive Facility Management Service Co.,
Ltd. In April 2021, AD China was established as a business controlling company to improve quality
through the strengthening of group governance and comprehensive management of services provided
in China, thereby creating a structure that enables faster decision-making and cross-sectional
development of China operations.
Meanwhile, in the Chinese property management industry (the real estate management industry),
M&A activity is becoming more active both inside and outside the industry, particularly among majorcompanies. Some companies are rapidly growing due to business diversification, and there is a growing
momentum toward industry reorganization.
Against this backdrop, in order to achieve further growth in China, we will accelerate businessexpansion throughout China through aggressive M&A targeting facility management companies withbusiness bases in each region and companies in other industries aimed at acquiring new businesses.
To accomplish this, we will change the name of AD China to Aeon Delight (China) Investment Holdings
Co., Ltd. (planned), and change the corporate form to an investment company that enables a broader
range of operations. We will increase capital in order to actively engage in M&A.

1News Release: AEON DELIGHT Co., Ltd.

(9787 TSE Prime)

2. Outline of the subsidiary that will change corporate format and trade name
(1)

Name

(2)

Location(3)

Representative(4)

Head office(5)

BusinessContent(6)Capital(7)

Established
Investors andinvestment ratio
Fiscal year end

(8)
(9)

(Before change) AEON DELIGHT (CHINA) CO., LTD.
(After change) Aeon Delight (China) Investment Holdings Co., Ltd.
(planned)Room 1003 A, Building 1, No. 88, Huachi Street, Suzhou Industrial
Park District (Building 1, Jinhe Plaza)
Yasuo Miyake, Chairperson
Room 1003A, 10th Floor, Building 1, Jinhe Plaza, No.88, Huachi
Street, Suzhou Industrial Park District
Regional management operations including business administrationand financial support for group companies in China, as well as
investment operations for the purpose of creating new businesses,etc.
(Before change) 177 million RMB(After change) 245 million RMB
November 2007
AEON DELIGHT CO.,LTD. 100%
December

3. Schedule of changes in corporate form and trade name
October 1, 2022 (planned)

4. Future Outlook
The effect of the change in the form and trade name of the subsidiary on consolidated results for thefiscal year ending February 2023 is immaterial.
In the future, the Company will promptly disclose any material information that should be disclosed in
the forward-looking statements.

2