1Q FY2/27 results: sharp profit growth even excluding M&A effects

Research evidence excerpt

1Q FY2/27 results: sharp profit growth even excluding M&A effects

8 July 2026

on its current initiatives via its company website. The company also announced KPI

targets, including raising the percentage of management positions held by women

from 24.3% as of end-FY2/25 to 30% in FY2/29. In September 2024, the company

released its group product basic procurement policy, which outlines its policy of giving

due consideration to human rights and the environment throughout its entire supply

chain.

Corporate governance

Excluding audit and supervisory committee members, the company’s seven-member

board of directors includes a member of the founding family: president and

representative director Jun Tsuruha. Akio Yoshida serves concurrently as director and

representative executive officer and president of the company’s parent, Aeon (8267),

while Hideaki Kirisawa is president and representative director at Welcia Holdings. In

addition, the company has two outside directors not on the audit and supervisory

committee: Wakana Tanaka, who has worked at both GlaxoSmithKline Japan and

Google Japan GK and is currently is the representative of LinkedIn Japan; and Hiroshi

Okuno, who has worked for Bank of America Merrill Lynch and Jefferies Japan

Limited, and is founder and managing partner at KTSS Ltd. All four of the audit and

supervisory committee members are outside directors: Tatsuichi Asada is a former

representative director and president of West Japan Railway Isetan, lawyer Takuya

Okazaki, Yasuo Nakayama previously worked at the Bank of Japan and as a

representative director at Secom and Toshiko Tamaki is a certified public accountant.

All six of the company’s outside directors are deemed as independent.

As of end-February 2026, Aeon was the leading shareholder with a large 50.33%