Strategic business alliance agreement with Mitsubishi Corp.

Research evidence excerpt

Strategic business alliance agreement with Mitsubishi Corp.

Global Research

13 July 2026ab

First Read

EquitiesRyohin Keikaku

Strategic business alliance agreement with Japan

Mitsubishi Corp. Retailers, Broadline

12-month rating Buy

12m price target ¥4,600.0

Summary

The company announced after the market close on 13 July (JST) that it had entered into

a strategic business alliance agreement with Mitsubishi Corporation (8058). Mitsubishi Price (13 Jul 2026) ¥4,233

has sold its holdings in the company’s shares (21.566mn shares, approximately 3.9% of RIC: 7453.T BBG: 7453 JP

Ryohin Keikaku's total shares outstanding). According to the company, although the

Trading data and key metrics

shareholding relationship since 2001 has been dissolved, the background to the

agreement is the intention to continue and strengthen their collaborative relationship by 52-wk range ¥4,233-2,657

organically combining their managerial resources to further develop existing businesses Market cap. ¥2,246b/US$13.8b

in which they cooperate and to create new business opportunities. Shares o/s 530m (ORD)

Free float 88%

UBS view Avg. daily volume ('000) 4,484

Mitsubishi built a capital relationship with the company since 2001 following its Avg. daily value (m) ¥16,681

earnings deterioration, and for a period, played an important role in its earnings Common s/h equity (08/26E) ¥383b

recovery, in terms of the personnel (dispatching directors) and products (centring on P/BV (08/26E) 5.9x

apparel and miscellaneous goods). Meanwhile, the company’s organisational Net debt to EBITDA (08/26E) NM

capabilities have developed sufficiently, and the roles of Mitsubishi and the company are

EPS (reported, basic) (¥)

no longer what they used to be. For this reason, we see no issue with their moving their

UBS Cons.