2. Revision to fiscal 2008 Earnings Forecasts (March 1, 2008 to February 28, 2009)
Consolidated

				(millions yen)
	Total Operating Revenue	Operating Profit	Recurring Profit	Net Profit
Previous forecast (A)	313,000	42,500	41,700	20,800
Current estimate (B)	352,000	48,000	47,200	23,900
Change (B-A)	39,000	5,500	5,500	3,100
Change (%)	12.5	12.9	13.2	14.9
(Reference) Fiscal 2007 Results (Ended Feb. 2007)	301,176	46,610	46,244	22,119

3. Revision to fiscal 2008 first half Earnings Forecasts (March 1, 2008 to August 31, 2008)
Non-Consolidated

				(millions yen)
	Total Operating Revenue	Operating Profit	Recurring Profit	Net Profit
Previous forecast (A)	142,000	24,000	24,000	11,300
Current estimate (B)	143,800	27,500	27,900	13,900
Change (B-A)	1,800	3,500	3,900	2,600
Change (%)	1.3	14.6	16.3	23
(Reference) Fiscal 2007 Interim Results (Ended Aug. 2007)	137,961	24,780	24,891	10,853

4. Revision to fiscal 2008 Earnings Forecasts (March 1, 2008 to February 28, 2009)
Non-Consolidated

				(millions yen)
	Total Operating Revenue	Operating Profit	Recurring Profit	Net Profit
Previous forecast (A)	279,000	41,200	41,100	19,400
Current estimate (B)	283,000	45,700	45,900	22,600
Change (B-A)	4,000	4,500	4,800	3,200
Change (%)	1.4	10.9	11.7	16.5
(Reference) Fiscal 2007 Results (Ended Feb. 2007)	269,582	45,334	45,298	18,899

5. Reasons for Revisions

LAWSON has raised its non-consolidated forecast for operating profit it by 3.5 billion yen for two main reasons. One is a projected 1.8 billion yen increase in total operating revenues over the half-year forecast due to higher-than-expected cigarette sales driven by the introduction of the taspo IC age identification card for vending machines, as well as steady growth in products other than cigarettes. The other main reason is a decline in selling, general and administrative expenses stemming from a review of system-related expenses and other factors.

Furthermore, LAWSON has raised its non-consolidated interim net profit forecast by 2.6 billion yen due mainly to a decline in extraordinary losses such as impairment losses, which have resulted from improved performance at existing stores.

On a consolidated basis, forecasts have been raised primarily due to an increase in ATM usage at subsidiary LAWSON ATM Networks, Inc.

Regarding full-year forecasts, on a non-consolidated basis, LAWSON is projecting a 4.0 billion yen increase in total operating revenues, a 4.5 billion yen increase in operating profit, a 4.8 billion yen increase in recurring profit, and a 3.2 billion yen increase in net profit over its initial forecasts. These upward revisions reflect mainly higher-than-expected cigarette sales driven by the introduction of the taspo card, as was the case in the interim period.

Full-year consolidated forecasts include the results of Ninety-nine Plus Inc., which became a consolidated subsidiary in September this year.

Note: The above forecasts are based on information available to the company at this time and include potential risks and uncertainties. Accordingly, actual results may differ from these forecasts due to a number of factors.