To All Shareholders

We would like to express our sincere gratitude to our shareholders for their continued support of the Aoyama Trading Group.

Based on our management philosophy, "Aiming to further contribute to society through retail and services to consumers based on sustainable growth." We will strive to achieve sustainable growth and increase corporate value by supporting working people, brightening and revitalizing society, and increasing the number of fans as many as possible under the Aoyama Mind of "Let's work for working people."

The social environment surrounding the company includes a decline in consumer sentiment due to the continued rise in prices, a decrease in the working age population, and a shift to casual office wear. The company believes that it is important to respond accurately and quickly to changes in customer needs associated with these changes in the social environment.

In order to respond to these changes and implement business reforms at an unprecedented speed, we conducted a major review of our organizational structure in April 2025. In implementing the strategies of the Medium-Term Management Plan, we will promote reforms based on the three pillars of "Promotion of OMO," "Promotion of DX," and "Promotion of Human Capital Management."

Regarding shareholder returns during the period of the new Medium-Term Management Plan from the fiscal year ended March 31, 2025 to the fiscal year ending March 31, 2027, the company's basic policy is to actively and stably return profits to shareholders while making growth investments to maintain and strengthen competitiveness and working to improve profitability and strengthen its financial structure.
After that, in order to realize management that is conscious of the cost of capital and stock price and to further advance initiatives to improve corporate value, the company will adopt the higher of either a dividend payout ratio of 70% or a dividend on equity ratio (DOE) of 3% on a consolidated basis, and pay dividends by improving capital efficiency, realizing a stable increase in dividends over the medium to long term, and growing profits.

We look forward to the continued support of our shareholders.