Stabilizing Operations and Establishing a Foundation for Growth through the Acquisition of Major Store Sites

「At a board of directors meeting held on 2 February 2024, the company resolved to acquire fixed assets, consisting of part of the site of Newport Hitachinaka Store, which it leases from the Ibaraki Prefecture Land Development Corporation under a fixed-term business land lease rights agreement and a land lease agreement for parking. The decision reflected its aim of further stabilizing operations and its consideration of the store's future growth potential. On 29 February 2024, the company entered into a land purchase agreement for the property with the Ibaraki Prefecture Land Development Corporation.」

「Following the acquisition on 16 February 2017 of part of the sites of Chiba New Town Store and Utsunomiya Store, which the company had leased under fixed-term business land lease agreements from the Urban Renaissance Agency (UR都市機構), the company recognized a ¥1,608 million gain on the reversal of asset retirement obligations as extraordinary income. The acquisition was undertaken in anticipation of further operational stability and after considering the future growth potential of the relevant stores, as announced on 5 January 2017.」

「The company currently leases the fixed assets described in 2 below, consisting of store sites, from the Urban Renaissance Agency (UR都市機構) under fixed-term business land lease rights as of the end of the second quarter. In anticipation of further operational stability and after considering the future growth potential of the relevant stores, Chiba New Town Store and Utsunomiya Store, the company decided to acquire the sites. Purchase price: approximately ¥16.7 billion in total (planned); contract signing date: 16 February 2017 (planned); scheduled handover date: 16 February 2017 (planned).」