ASKUL : Announcement of Financial Results by Other Affiliated Company

Disclaimer

This is an English translation of the captioned release. This document has been prepared and provided solely for the purpose of the reader's convenience. All readers are recommended to refer to the original Japanese release for complete information. In the event of any discrepancy

between this English translation and the original Japanese release, the original Japanese document shall prevail in all respects.

_____________________________________________________________________________________________

August 3, 2021

To whom it may concern:

Company Name: ASKUL Corporation

(Code No.: 2678, Tokyo Stock Exchange First Section)

Representative: Akira Yoshioka

President and Chief Executive Officer

Contact Person: Tsuguhiro Tamai

Director and Chief Financial Officer

Phone: [phone]

Announcement of Financial Results by Other Affiliated Company

ASKUL Corporation (hereinafter referred to as the "Company") hereby announces that there are some descriptions about the ASKUL Group in the financial results briefing presentation materials for the first quarter of fiscal year 2021 announced today by Z Holdings Corporation (headquarters: 1-3 Kioicho, Chiyoda-ku, Tokyo; representative: Kentaro Kawabe, President and Representative Director, hereinafter referred to as "Z Holdings"), a company defined as "other affiliated company" of the Company. Please refer to the appendix for the applicable page of the presentation materials.

The figures described in the attached material do not match the financial results to be announced by the Company due to different consolidated accounting periods between Z Holdings and the Company as shown in the table below. The figures in the material include ASKUL Group's revenue, cost of sales and BtoB net sales placed via the internet.

Consolidated
accounting	Z Holdings	Company
period
	From April 1, 2021, to June 30, 2021
	There are below descriptions in the
First quarter	attached material.	From May 21, 2021, to August 20, 2021
・Page 5 & 6
	BtoB net sales placed via the internet in
	every quarter
	・Page 9
	ASKUL Group's revenue and cost of sales.

Appendix: Z Holdings Business Results FY2021 Q1 (excerpt)

Note: Z Holdings holds 44.92% of the total shares issued by the Company as of May 20, 2021.

1

Security Code: 4689

Z Holdings Corporation Business Results

FY2021 Q1

August 3, 2021

Table of Contents

1

2

3

Topics/Consolidated Business Results - Whole Group

Topics/Business Results - By Segment

International Business Development

4 FY2021 Business Results Forecast

Commerce Business

Status of Business Strategy: Enhance User Experience Through Improvement of Essential Service Quality

Commerce Business

• Began demonstration experiment1 on instant delivery service of daily necessities, "PayPay Direct by ASKUL," in collaboration with ASKUL and Demae-can
• Understand the instant delivery needs in the last mile, consider expanding products handled and target areas as well as extending to other services

Outline of Demonstration Experiment	Instant Delivery - Structure

Direct

Experiment Period

Target Area

Products Handled

July 28, 2021 -

Some areas including areas in Itabashi Ward, Tokyo

Approx. 300 types (planned)

• Daily necessities (e.g. laundry products, cleaning products, batteries, baby products, hygiene products, pet products, etc.)
• Food and beverages (e.g. chilled food (planned), frozen food, cup noodles, pouched food, bread, juice, alcoholic beverages, etc.)

Attract customers, support marketing, etc.

	ASKUL's store in
	Demae-can
	(Operated by ASKUL)		Demae-can service
	Order & pay for products			Demae-can staff delivers
	from Demae-can			to designated address
	app/website			(min. 15 minutes)
		Users

1. May be terminated early as this is a demonstration experiment

21