Dear Investors,

I am pleased to inform you that effective May 1st, 2014, Genichi Tamatsuka will be designated as the new President and CEO of Lawson, Inc.

Since my appointment as the President and CEO in May 2002, I have devoted to differentiate us from competitors and create new value-add to our customers. I have initiated drastic changes and reforms in our company, to become an inevitable part in our community, all to realize our Corporate Philosophy of "Creating Happiness and Harmony in Our Communities." As a result, Lawson has achieved operating profit growth of over ten consecutive years, and Return on Equity of 15%. Since the time I assumed my position, our stock price has significantly increased and we have paid out dividends to realize Total Shareholder Return that is considerably higher than that of the industry and Tokyo Stock Exchange average. Without the numerous rounds of dialogue sessions with you, these results were not possible, and I would like to express my sincere appreciation for all the intense and constructive discussions we had.

Over the past 12 years, I strived to reach our goal of sustainable growth and focused on developing our human capital. I have also delegated authority to create an organization responsive to changes. Through these focused initiatives, I can assure you that Lawson has grown to be a powerful group of individuals who take proactive actions to meet the needs of our communities, offering innovative solutions.

I am confident that Genichi Tamatsuka, who will assume my position, will further bring the company forward to a new stage of growth. He is a dedicated leader who truly understands the philosophy of Lawson and makes relentless effort to grow together, building trust with our franchise owners. I am certain that he will continue building and passing on the "DNA" of Lawson, the corporate culture that fosters innovation and creativity, challenging the status quo. We face greater competition in our market environment; however we foresee significant room for growth, as convenient stores become inevitable social infrastructure. I believe that the long-term success of business lies in its ability to create values for society as a whole, and we must recognize that the competitiveness of a company and health of the communities around it are mutually dependent. I am certain that with the strong leadership of Genichi Tamatsuka, he will accelerate the growth of Lawson and create a company that is more trusted, valued and loved by our communities. I will be the Chairman of Lawson, Inc. effective May 27, 2014, and I am committed to continue supporting our new leader by leveraging the extensive network I have built over the years and further strive to increase the corporate value of Lawson.

Dear Investors,

Effective May 1st, I will succeed Takeshi Niinami and will be appointed as the President and CEO of Lawson, Inc. I am looking forward to this fascinating opportunity of serving as the President and CEO of the most innovative convenient retail store chain in the world.

If we may call Lawson at time of being a member of The Daiei Group the "first foundation," Takeshi Niinami has driven the company forward to a considerable growth stage as the "second foundation" of Lawson. I am committed to take on his visionary new approaches and passion for innovation to provide new values to our customers, in order to accelerate the growth of our company to the next stage. Furthermore, I will maintain strong focus to deliver greater return for our shareholders through stock price and dividends. I am also committed to maximize profits by defining strategic priorities and continue strict capital discipline.

To realize this new challenge, I will exert my leadership and empower all members of Lawson and our valuable franchise owners, and strive to work together as "Team Lawson." We have many seeds of innovation at Lawson and I am dedicated to continue our efforts to exceeding our customers' expectations, surprising the world with our new ideas.

I will lead Lawson under the five key principles which I believe to be crucial in running the company:

• 1. Ensure that Lawson's Corporate Philosophy is instilled in our organization and its people, respecting the values articulated, as everything we do is inspired by this Corporate Philosophy
• 2. Strengthen the relationship with the franchise owners and achieve mutual growth in addition to collaborative success.
• 3. Become the world's No.1 manufacturing retailer based on small commercial areas.
• 4. Motivate each individual to take initiative and at the same time adhering to discipline, in order to pursue success.
• 5. Foster and empower 100 young leaders of the next generation.

I will maximize the corporate value of Lawson to deliver greater value for our shareholders undoubtedly, in addition to customers, franchise owners, business partners, employees and all other stakeholders.

I am devoted to work toward our mission of "Creating Happiness and Harmony in Our Communities," and will execute the necessary actions speedily under my leadership. To achieve this, I would like to continue building on the relationship we have established with shareholders, investors and analysts, and engage in open dialogue and intensive communication.