, Inc. The Morningstar name and logo are registered marks of Morningstar. Liability-relative asset allocation: people tend to save or accumulate wealth in order to fund some kind of goal (or liability

to foreign exchange volatility during the Covid-19 pandemic in first quarter that lead to accumulate loss on exchange rate. However, administrative expenses on 2nd quarter of 2020 decreased 32.33

the business environment by closed 8 departments which have accumulate loss in year 2019. Moreover the Company has promotional activity, made an advertisement in each area for increased sale

business strategy for appropriate with the business environment by closed 2 departments which have accumulate loss in Quarter 1’ 2020. 3. Analysis of Operating Results Statements of Comprehensive Income

activity The Contacts may accumulate their participation hours in the activities accepted by the Office provided that at least 15 hours of attendance are achieved during the latest two calendar years prior

Contacts may accumulate their participation hours in the activities accepted by the Office provided that at least 15 hours of attendance are achieved during the latest two calendar years prior to the

under trademark “Wuttisak Clinic” the Company has change the business strategy for appropriate with the business environment by closed 7 departments which have accumulate loss in July 2019 and decreased

Plus” campaign was launched for credit card customers to accumulate sales slips up to required amounts for premium redemption and etc. In addition, a subsidiary of company in Cambodia launched a credit

cardholders throughout the year. For example, “AEON Shop Plus” campaign was launched for credit card customers to accumulate sales slips up to required amounts for premium redemption, campaign “AEON Gift 2019

change the business strategy for appropriate with the business environment by closed the departments which have accumulate loss in second Management’s discussion and analysis for the Quarter 2’ 2020 7 / 7