In “Notification Regarding Changing Status of MC Subsidiary (Lawson, Inc.) into that of Equity-method Affiliate Company” as of February 6th 2024, Mitsubishi Corporation (MC) announced that Lawson, Inc. (Lawson)'s status in MC Group shall change from MC’s consolidated subsidiary to its equity-method affiliate. In connection with this, the share consolidation (Share Consolidation) of Lawson’s common stock (Lawson’s Stock) pertaining to the squeeze-out procedures to make MC and KDDI Corporation (KDDI) have full ownership of Lawson became effective, and the transfer to KDDI of the Lawson’s Stock, the number of which is equivalent to the sum of any fractions of less than one share that result from the Share Consolidation, has been completed on 15th August and confirmed today. Then MC and KDDI each have obtained a 50% share of Lawson's voting rights.

As a result, all terms and conditions of a Shareholders Agreement between MC and KDDI as of February 6th 2024 concerning joint operation of Lawson Group has taken effect, and Lawson has become MC’s equity-method affiliate on 15th Aug.

 

Due to the Lawson's status change from MC’s consolidated subsidiary to MC’s equity-method affiliate, it is expected that MC will recognize gains including the revaluation gain of 12.32 billion yen (after tax) with respect to the remaining equity in Lawson in this consolidated accounting year; however, P/L estimates and actual performance figures may differ due to book-value changes at the time of the said status change and other factors.