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    3382   JP3422950000

SEVEN & I HOLDINGS CO., LTD.

(3382)
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Seven & i : Notice Regarding the Company Split within the Group (Simple Absorption-Type Company Split)

07/01/2021 | 02:04am EDT

July 1, 2021

Company Name: Seven & i Holdings Co., Ltd. Representative: lRyuichi Isaka,

President & Representative Director (Code No. 3382/First Section of the Tokyo Stock Exchange)

Notice Regarding the Company Split within the Group (Simple Absorption-Type Company Split)

At the Board of Directors' meeting on July 1, 2021, Seven & i Holdings Co., Ltd. (the "Company") passed a resolution to transfer the rights and obligations concerning the management business of Peace Deli Co., Ltd. ("Peace Deli"), a wholly owned subsidiary of the Company, to Ito-Yokado Co., Ltd. ("Ito-Yokado") and York Co., Ltd. ("York") by means of a company split (the "Company Split"), as mentioned below.

The Company Split regards our wholly-owned subsidiaries as the succeeding companies, so the matters to be disclosed and the content thereof has been partially omitted.

1. Objectives of the Company Split

To promote the Tokyo metropolitan area food strategy, the Seven & i Group (the "Group") changed the trading name of York Mart Co., Ltd. to York on June 1, 2020. We also undertook a reorganization in which a total of 20 Shokuhinkan and THE PRICE stores were transferred from Ito-Yokado.

Based on our Medium-Term Management Plan, announced on July 1, 2021, we have decided to undertake a further reorganization with a view to building a common infrastructure and expanding joint procurement functions for the purpose of promoting the Group food strategy as part of our Group strategy. By strengthening cooperation with Ito-Yokado and York, the Company aims to build a common infrastructure for the Group and thus to realize a high-quality and efficient product supply system. To this end, the Company will transfer 60% of its shares in Peace Deli, a wholly owned subsidiary, to Ito-Yokado and York, with each receiving 30%. The Company will retain a portion of its Peace Deli shares and will continue participating in initiatives related to the Group food strategy, with a view to collaborating with other Group operating companies.

2. Outline of the Company Split

(1) Schedule for the Company Split

Date when the absorption-type split contract was approved

July 1, 2021

at the Board of Directors' meeting

Date when the absorption-type split contract was concluded

July 1, 2021

Planned date for the absorption-type split (Effective date)

September 1, 2021

    • The Company Split qualifies as a simple absorption-type split under the provision of Article 784, Pargraph 2 of the Companies Act, so a resolution approving the split will not be obtained at our Shareholders' Meeting.
  1. Structure of the Company Split

Absorption-type split in which the Company is the split company and both Ito-Yokado and York are the succeeding companies.

1

(3) Outline of the allotment in relation to the Company Split

Ito-Yokado and York, the succeeding companies, are wholly-owned subsidiaries of the Company, so shares, money or other consideration for the Company Split will not be issued to the Compay.

  1. Handling of share subscription rights and corporate bonds with share subscription rights in relation to the Company Split
    Not applicable.
  2. Capital that increases or decreases in relation to the Company Split

The stated capital of the Company will not change in relation to the Company Split.

(6) Rights and obligations assumed by the succeeding companies

Ito-Yokado and York will each receive 30% of Peace Deli shares, which are currently 100% owned by the Company, as a result of the Company Split.

(7) Prospect of discharging liabilities

In regard to the Company Split, the succeeding companies will not succeed debt.

3. Overview of the Companies involved in the Company Split (FY2021)

(1) The split company (As of February 28, 2021)

(ⅰ)

Company name

Seven & i Holdings Co., Ltd.

(ⅱ)

Original location

8-8, Nibancho, Chiyoda-ku, Tokyo

(ⅲ)

Title and name of

Ryuichi Isaka, President and Representative Director

representative

Planning, management, and operation of the corporate group for each

business, centered on Domestic convenience store operations,

(ⅳ)

Area of operation

Overseas convenience store operations, Superstore operations,

Department store operations, Financial Services and Specialty store

operations, etc.

(ⅴ)

Stated capital

50.0 billion yen

(ⅵ)

Date of establishment

September 1, 2005

(ⅶ)

Total shares issued

886,441,983 shares

(ⅷ)

Business year end

End of February

THE MASTER TRUST BANK OF JAPAN, LTD.

9.6%

(TRUST ACCOUNT)

ITO-KOGYO CO., LTD.

8.0%

CUSTODY BANK OF JAPAN, LTD.

5.5%

(TRUST ACCOUNT)

SMBC NIKKO SECURITIES INC.

2.7%

NIPPON LIFE INSURANCE COMPANY

(STANDING PROXY:

2.0%

(ⅸ)

Major shareholders and their

THE MASTER TRUST BANK OF JAPAN, LTD.)

percentage holdings

MASATOSHI ITO

1.9%

MITSUI & CO., LTD.

(STANDING PROXY:

1.8%

TRUST & CUSTODY SERVICES BANK, LTD.)

JAPAN SECURITIES FINANCE CO., LTD.

1.8%

CUSTODY BANK OF JAPAN, LTD.

1.8%

(TRUST ACCOUNT 4)

STATE STREET BANK WEST CLIENT-TREATY

1.4%

505234 (STANDING PROXY: MIZUHO BANK, LTD.)

  1. Consolidated financial status and business performance from the last fiscal year

Net assets

2,831,335 million yen

2

Total assets

6,946,832 million yen

Net assets per share

3,022.68 yen

Revenues from operations

5,766,718 million yen

Operating income

366,329

million yen

Ordinary income

357,364

million yen

Net income attributable to

179,262

million yen

owners of parent

Net income per share

203.03 yen

  1. The succeeding company (As of February 28, 2021) Ito-Yokado Co., Ltd

(ⅰ)

Company name

Ito-Yokado Co., Ltd.

(ⅱ)

Original location

8-8, Nibancho, Chiyoda-ku, Tokyo

(ⅲ)

Title and name of

Tomihiro Saegusa, President and Representative Director

representative

(ⅳ)

Area of operation

Retail business

(ⅴ)

Stated capital

40.0 billion yen

(ⅵ)

Date of establishment

March 1, 2006

(ⅶ)

Total shares issued

400,000,000 shares

(ⅷ)

Business year end

End of February

(ⅸ)

Shareholder and its

Seven & i Holdings Co., Ltd.

100.0%

percentage holdings

(ⅹ)

Financial status and business performance from the last fiscal year

Net assets

512,489 million yen

Total assets

682,167 million yen

Net assets per share

1,281.22 yen

Revenues from operations

1,053,284 million yen

Operating income

7,781 million yen

Ordinary income

7,698 million yen

Net income

(3,705) million yen

Net income per share

(9.26) yen

York Co., Ltd

(ⅰ)

Company name

York Co., Ltd.

(ⅱ)

Original location

2-5-10, Aomi, Koto-ku, Tokyo

(ⅲ)

Title and name of

Masato Otake, President and Representative Director

representative

(ⅳ)

Area of operation

Retail business

(ⅴ)

Stated capital

3.0 billion yen

(ⅵ)

Date of establishment

December 25, 1975

(ⅶ)

Total shares issued

10,000,000 shares

(ⅷ)

Business year end

End of February

(ⅸ)

Shareholder and its

Seven & i Holdings Co., Ltd.

100.0%

percentage holdings

  1. Financial status and business performance from the last fiscal year

Net assets

43,700 million yen

3

Total assets

67,998 million yen

Net assets per share

4,370.06 yen

Revenues from operations

182,219 million yen

Operating income

3,253 million yen

Ordinary income

3,290 million yen

Net income

963 million yen

Net income per share

120.41 yen

4. Overview of the business division to split

(1) The split business

Management business of Peace Deli

  1. Business performance of the business to split in the fiscal year ended February 28, 2021 There aren't any matters to mention.
  2. Capital and debt items, and the amounts to split

The Company Split with Ito-Yokado as the succeeding company

Assets

Liabilities

Item

Book value

Item

Book value

Shares

6,186 million yen

The Company Split with York as the succeeding company

Assets

Liabilities

Item

Book value

Item

Book value

Shares

6,186 million yen

5. Status of Seven & i Holdings, Ito-Yokado, and York after the Company Split

The trading name, business description, head office location, representative's name and title, stated capital, or fiscal year-end of all three companies will remain unchanged.

6. Future outlook

This split is made between our wholly-owned subsidiaries, and its effect on our consolidated results is negligible.

Reference:

The consolidated financial results forecast for this fiscal year and consolidated results for the last fiscal year (The consolidated financial results forecast for this fiscal year was released on July 1, 2021)

(Millions of yen)

Revenues from

Operating

Net income

Ordinary income

attributable to

operations

income

owners of parent

Forecast of business results

8,038,000

380,000

343,500

190,000

for FY2022 (Entire year)

Business results for FY2021

5,766,718

366,329

357,364

179,262

(Entire year)

4

Disclaimer

Seven & I Holdings Co. Ltd. published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2021 06:03:36 UTC.


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Sales 2022 7 958 B 72 636 M 72 636 M
Net income 2022 212 B 1 934 M 1 934 M
Net Debt 2022 1 189 B 10 853 M 10 853 M
P/E ratio 2022 21,7x
Yield 2022 2,01%
Capitalization 4 585 B 41 721 M 41 844 M
EV / Sales 2022 0,73x
EV / Sales 2023 0,60x
Nbr of Employees 57 270
Free-Float 84,0%
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Seven & i Holdings Co., Ltd. Technical Analysis Chart | 3382 | JP3422950000 | MarketScreener
Technical analysis trends SEVEN & I HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 13
Last Close Price 5 192,00 JPY
Average target price 6 038,46 JPY
Spread / Average Target 16,3%
EPS Revisions
Managers and Directors
Ryuichi Isaka President & Representative Director
Yoshimichi Maruyama General Manager-Finance & Accounting
Toshiro Yonemura Independent Outside Director
Kunio Ito Independent Outside Director
Yoshio Tsukio Independent Outside Director
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