reference
release issued on December 15,2004

1. Background to Change

Lawson has received notice from Mitsubishi Corporation that it has decided to dissolve wholly owned subsidiary and principal Lawson shareholder M.C. Retail Investment Co., Ltd. (MCRI), and transfer all Lawson shares held by MCRI to Mitsubishi Corporation. Although the date of transfer is yet to be finalized, Lawson will make an announcement when the information becomes available.

2. Details of New and Current Principal Shareholder

Company receiving Lawson shares:
(1) Name: Mitsubishi Corporation
(2) Head Office: 6-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo
(3) Representative: Yorihiko Kojima, President and CEO
(4) Main Business: General trading company

Company transferring Lawson shares:
(1) Name: M.C. Retail Investment Co., Ltd.
(2) Head Office: 6-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo
(3) Representative: Koichi Narita, President
(4) Main Business: Holding company

3. Shareholding (No. of Voting Rights) and Voting Percentage

Mitsubishi Corporation

	Shareholding (No. of Voting Rights)	Voting Percentage	Shareholder Rank
Prior to transfer (As of Dec. 15, 2004)	-	-	-
After transfer	32,089,300 shares (320,893 voting rights)	31.41%	1

M.C. Retail Investment Co., Ltd.

	Shareholding (No. of Voting Rights)	Voting Percentage	Shareholder Rank
Prior to transfer (As of Dec. 15, 2004)	32,089,300 shares (320,893 voting rights)	31.41%	1
After transfer	-	-	-