To whom it may concern,

August 2, 2016

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

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

Notice regarding Store Closures of Seibu Yao and Seibu Tsukuba and Call for Voluntary Retirement

Seven & i Holdings Co., Ltd. announced that a Board of Directors meeting of its consolidated subsidiary Sogo & Seibu Co., Ltd. held on August 2, 2016, it was resolved to close Seibu Yao and Seibu Tsukuba, and call for voluntary retirement. Under a program of business structure reforms announced on October 8, 2015 and March 8, 2016, Sogo & Seibu Co., Ltd. has been promoting retailer-managed product development and enhancing product lineups matched to regional characteristics. However, Sogo & Seibu Co., Ltd. continues to face an adverse business environment, and further structural reforms have been judged necessary. Details of the store closure and call for voluntary retirement are as follows.

Ⅰ．Store Closures

１． Reason for Store Closures

Amid an increasingly adverse environment for the department store industry, Sogo & Seibu Co., Ltd. is working to concentrate its management resources and increase its asset efficiency. As part of this, Sogo & Seibu Co., Ltd. has resolved to close Seibu Yao and Seibu Tsukuba, having considered the future development potential of both stores.

２． Overview of Store Closures

(1) Seibu Yao

Store name

：

Seibu Yao

Store address

：

Yao-shi, Osaka

Opened

：

1981

Sales floor space

：

38,169 square meters

Net sales

：

15.5 billion yen (Fiscal year ended February 29, 2016)

Employees

：

173 employees (49 full-time employees and 124 part-time

employees as of June 30, 2016) Closure date (Planned) ：February 28, 2017

(2) Seibu Tsukuba

Store name

：

Seibu Tsukuba

Store address

：

Tsukuba-shi, Ibaraki

Opened

：

1985

Sales floor space

：

26,905 square meters

Net sales

：

12.8 billion yen (Fiscal year ended February 29, 2016)

Employees

：

248 employees (71 full-time employees and 177 part-time

employees as of June 30, 2016 )

Closure date (Planned)

：

February 28, 2017

Ⅱ．Call for Voluntary Retirement

１． Reason for Calling for Voluntary Retirement

Sogo & Seibu Co., Ltd. will close the two stores mentioned above in addition to store closures to be conducted in line with the business structure reforms announced on October 8, 2015 and March 8, 2016. As a measure for correcting the number of employees accordingly, Sogo & Seibu Co., Ltd. resolved to call for voluntary retirements.

２． Details of Call for Voluntary Retirement

Eligible employees ：Full-time employees aged 45 and above Number of retirements ：350 retirements

Application period ：From August 2, 2016 to September 30, 2016 (Planned) Retirement date (Planned) ：October 15, 2016

Compensation measures ：Payment of funds to assist new placement based on rank

Ⅲ．Impact on Business Results

The store closures and call for voluntary retirement will have only a minimal effect on the Group's consolidated financial results for the fiscal year ending February 28, 2017, but the abovementioned costs have been factored into the consolidated financial results forecast for the fiscal year ending February 28, 2017 released today.

Seven & I Holdings Co. Ltd. published this content on 02 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 02 August 2016 11:05:06 UTC.

Original documenthttp://www.7andi.com/dbps_data/_material_/localhost/en/release_pdf/20160802_02_en.pdf

Public permalinkhttp://www.publicnow.com/view/1641D5F2F3AB38C01E059BF07049EA888291B8D3