AEON Credit Service (Asia) Co., Ltd. (HKEX: 900) announced the renewal of its Business Advisory Service Agreement with AFS Japan, a Controlling Shareholder holding approximately 56.86% of the issued shares of the Company. The renewed agreement covers a one-year term from 1 March 2026 to 28 February 2027, during which AFS Japan will continue providing consultation and advisory services focused on finance-related areas, including business strategies, internal governance, and investment opportunities.
According to the announcement, an advisory fee with a mark-up of up to 5% has been set, referencing the operating expenses incurred by relevant departments of AFS Japan and aligned with OECD guidelines. The consideration, payable in Japanese yen, will be settled on a half-yearly basis, with an annual cap of HK$14.40 million for the period ending 28 February 2027. Historical transaction amounts under the previous arrangement were approximately HK$9.67 million, HK$10.82 million, and HK$9.82 million for the three years ending 28 February 2026.
As AFS Japan is deemed a connected person under Chapter 14A of the Listing Rules, this renewal is subject to reporting, announcement, and annual review requirements. However, it is exempt from independent shareholders’ approval since its applicable percentage ratios exceed 0.1% but are below 5%. The Board, excluding the director who abstained due to his role at AFS Japan, considers the terms fair and reasonable and in the interests of both the Group and its shareholders.
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