Reorganization into a structure for integrated operation of the food business under an intermediate holding company

「At a meeting of the Board of Directors held on 25 September 2025, the Company resolved to conduct an absorption-type merger in which its consolidated subsidiary イズミヤ・阪急オアシス株式会社 would be the surviving company and its consolidated subsidiary 株式会社関西スーパーマーケット would be the absorbed company, and to change the surviving company’s corporate name. On the same date, the two companies entered into a merger agreement.」

「In the food business, the Company made 株式会社関西フードマーケット a wholly owned subsidiary and worked to establish the business foundation, including centralizing the sales headquarters and head-office functions of the food supermarket business at 株式会社関西フードマーケット. It also reorganized the positioning and roles of approximately 230 food supermarket stores.」

「During the first quarter of the consolidated fiscal year, the Company conducted an absorption-type merger in which its consolidated subsidiary 株式会社阪急オアシス was the surviving company and its consolidated subsidiary イズミヤ株式会社 was the absorbed company, and changed the surviving company’s corporate name to イズミヤ・阪急オアシス株式会社.」

「In addition, the two companies will merge effective 1 April 2023 to further accelerate management decision-making and strengthen the business foundation.」

「In addition, 株式会社阪急Ｂ＆Ｃプランニング and 株式会社阪急フレッズ, which had been included in “other businesses,” were absorbed by 株式会社阪急ベーカリー, part of the “food business,” effective 1 April 2021.」

「The former イズミヤ株式会社 was divided into 3 companies effective 1 April 2020. The previous period’s food business results included those of the former イズミヤ株式会社, which operated general merchandise stores selling apparel and household goods in addition to food, while the current period’s food business covers only the results of the new イズミヤ株式会社, which operates food supermarkets.」

「Beginning with the current consolidated fiscal year, the reportable segments have been changed from the previous four categories of “department store business,” “supermarket business,” “Izumiya business” and “other businesses” to the four categories of “department store business,” “food business,” “real estate business” and “other businesses.”」

「On 1 October 2016, 株式会社阪急デリカ, formerly the “supermarket business,” absorbed 株式会社デリカ・アイフーズ, formerly the “Izumiya business,” and changed its corporate name to 株式会社阪急デリカアイ.」

「On 1 July 2016, as part of the reorganization of the food business, the former イズミヤ株式会社, which changed its corporate name to 株式会社エイチ・ツー・オー アセットマネジメント following the company split, referred to below as “H2O Asset,” transferred its retail business to イズミヤ株式会社, referred to below as “New Izumiya,” through an incorporation-type company split. On the same date, 株式会社阪急フードプロセス was newly established, and on 1 October 2016 it assumed New Izumiya’s fresh food processing and sales business.」

「The Company intends to further advance these efforts by establishing a structure to manage the business more cohesively as a new “food business” and to improve overall business efficiency by clarifying the roles of each company. Going forward, retail and manufacturing companies will be organized in parallel under a food business holding company as part of the reorganization of the food business.」