Announcement regarding Execution of Share Purchase Agreement and Simultaneous Completion of Share Purchase to Acquire Carrefour’s Malaysian Operations

Aeon Co., Ltd. (“Aeon”) is pleased to announce that it has entered into a share purchase agreement to acquire 100% of the shares of Carrefour’s Malaysian hypermarket operating subsidiary Magnificient Diagraph Sdn. Bhd. (“MD”) and Carrefour Malaysia Sdn. Bhd. (“CM”) which owns 9.3% of voting right in MD (collectively, “Carrefour Malaysia”) from Carrefour S.A. (“Carrefour”) and from certain of its subsidiaries. On 31 October 2012, Aeon also has successfully and simultaneously completed the purchase of all shares envisaged in the share purchase agreement.
1. Purpose of the Share Acquisition
Under the Group’s three-year Medium-term Management Plan starting from fiscal year 2011 through fiscal year 2013, Aeon views the “Shift to Asian Markets” as key realizing growth outside of the Japanese market. On the back of such strategy, the Group has explored growth opportunities in new geographic and business areas using its China and ASEAN headquarters to accelerate an integrated Group approach to Asian business development.
Having entered the Malaysian market in 1994, Carrefour Malaysia is currently Malaysia’s 4th largest retailer in terms of sales. At present, it exclusively operates 26 stores in the hypermarket format mainly in the urban area of Peninsular Malaysia.
Aeon has been proactively engaged in the Malaysian market since 1984, and it currently has a platform of 25 general merchandise stores and 4 supermarkets, totaling 29 stores in Malaysia, through its subsidiary AEON Co. (M) Bhd. (“Aeon Malaysia”), with revenues of approximately MYR 3 billion. Aeon Malaysia ranks as Malaysia’s third largest retailer.
Aeon regards the Malaysian market as an important hub to further cater to ASEAN countries. With the acquisition of Carrefour Malaysia, Aeon becomes the 2nd largest retailer group in Malaysia. Through accelerating its store openings in multi format strategy, Aeon targets to open 100 stores in various formats by 2020 and intends to establish a leading position in Malaysian market.
Aeon is also pleased to announce that the corporate name of MD will change to Aeon BIG(M) Sdn. Bhd. (“Aeon Big Malaysia”). Aeon Big Malaysia will further strengthen its community-based operations with a focus on the “customer first” concept as a member company of the Aeon group.
As of today, Aeon’s ASEAN headquarters was established to lead Aeon’s comprehensive business operations in ASEAN region. Aeon further expects to achieve meaningful synergies in the area of procurement of products, marketing expense reduction, sharing best practices between Aeon Malaysia and Aeon Big Malaysia in addition to other rationalizations as a result of this transaction.

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