Topvalu's Approximately 3,500 Food Items "Price Freeze Declaration"

From May 11th, Aeon will keep the prices of approximately 3,500 food items from its private brand Topvalu unchanged until August 31st, across about 10,000 group stores.

Persistent price increases and an unstable global situation have accumulated as "small daily sacrifices" in daily life, such as "giving up one more item" or "having to manage even staple foods."

Furthermore, summer is a season when families have more opportunities to dine together due to children's summer holidays, and there are more chances to go out for travel or returning home. In recent years, the prolonged and increasingly hot summers have led to increased use of air conditioning, further escalating the burden on household budgets.

In this context, we have sincerely listened to various "customer voices" regarding price increases and have decided to implement a "price freeze" for approximately 3,500 Topvalu food items this summer, meaning we will not raise their prices.

Aeon has made this price freeze possible by accumulating cost reductions through various measures, including planned production, full quantity purchasing, reducing intermediate distribution costs, reviewing packaging materials and raw material/product procurement routes, and adapting to changes in harvest times due to climate change.

Additionally, in the first half of this year, the launch of 980 new and renewed "Topvalu Best Price" items was decided, allowing us to respond to customer feedback regarding rising prices.

Aeon will continue to listen to customer voices, now and in the future, and will continue to support daily life as much as possible.

<Customer Voices (Summary)>

・"With rising prices, it's difficult to 'buy anything without worrying,' and we have no choice but to manage even staple foods."

・"With many family members and high food expenses, we want to choose products that offer peace of mind in terms of price and quantity. We want to stock up by buying in bulk."

・"If it's for the same purpose, I want to choose a more affordable product to reduce the burden on my life even a little."

・"I buy Topvalu based on price, and I'm satisfied with the quality, so I can maintain my usual eating habits without difficulty."

"Customer voices" are received through in-store, web, call centers, chatbots, letters, etc., with over 400,000 opinions and inquiries annually (approximately 30,000-40,000 per month).

<Examples of "Price Freeze Declaration" Products*2>

Product Name | Standard | Unit Price | Tax-included Price*3 --|--|--|-- Topvalu Best Price Smooth & Rich Salad Oil | 900g | 258 yen | 278.64 yen Topvalu Best Price Mayonnaise with Whole Egg Flavor | 400g | 248 yen | 267.84 yen Topvalu Best Price Tomato Ketchup with Ripe Tomato Flavor | 500g | 158 yen | 170.64 yen Topvalu Best Price Spaghetti 1.7mm | 1kg | 228 yen | 246.24 yen Topvalu Best Price Extra Virgin Olive Oil (Green) | 455g | 798 yen | 861.84 yen Topvalu Best Price Plain Seafood Noodle | 75g | 108 yen | 116.64 yen Topvalu Best Price Rich & Sharp Soy Sauce Noodle | 78g | 108 yen | 116.64 yen Topvalu Best Price Spicy Curry Noodle | 87g | 108 yen | 116.64 yen

*1: Excludes fresh foods, rice, prepared foods, alcoholic beverages, gift items, limited-time discounted products, and special planned products (e.g., increased quantity items, renewed items with changed specifications). In the unlikely event that a price revision becomes unavoidable, we will notify customers in stores. *2: Product availability may vary by store, and some stores may not carry certain items. *3: When purchased individually, the tax-included price will be rounded down to the nearest whole number.