Reviewing the Rationale for Cross-Shareholdings and the Policy on Sales

「In addition, the Board of Directors conducts qualitative and quantitative reviews every year to confirm the rationale for holding each individual issue. Holdings deemed inappropriate will be sold after comprehensively considering the impact on the market and other factors. As of the end of February 2026, the company held 1 cross-shareholding, with a market value representing less than 1% of consolidated total assets, and therefore its impact on the financial balance is immaterial.」

「With respect to cross-shareholdings, we may acquire and hold shares of business partners only when this is deemed unavoidable from the standpoint of building stable, long-term business relationships with them, facilitating and strengthening business alliances or collaborative business development, and other considerations, subject to the approval of the Board of Directors. To assess the appropriateness of such holdings, we report at each monthly regular meeting of the Board on the sales status of products traded with the relevant business partners and their contribution to store sales, as part of verifying the benefits of the holdings from the perspectives of their medium- to long-term economic rationality and maintaining and strengthening comprehensive relationships with business partners. We will sell holdings deemed inappropriate after comprehensively considering the impact on the market and other factors.」