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Aeon's operating revenues were up year over year in the nine months ended November 30, 2010

COMPANY OF THE WEEK: Aeon Group Shows Moderate Recovery

  (JAPAN, 1/28/2011)

In the nine months ended November 30, 2010, Aeon Co., Ltd. (Public, TYO:8267) corporate earnings showed pockets of moderate recovery as consumption expenditure expanded in response to national economic stimulus measures and export-related industries recovered on the back of rising demand in emerging economies. 

Uncertainty about Japan’s economic outlook, however, remained unabated with employment and income still in poor shape and the country also beset by a persistently strong yen and languid stock prices.

Overseas, the Aeon Group opened 5 GMSs - 4 in China and 1 in Malaysia- and 2 supermarkets - one each in China and Thailand. (Photo: Typhoonchaser)

Aeon says that it is working on the necessary arrangements to ensure successful fulfillment of the Group’s upcoming medium-term management plan aimed at fueling medium to long-term growth. The fiscal year ending February 29, 2012, will be the plan’s inaugural year.

Operating revenues were up year over year in the nine months ended November 30, 2010, reflecting the impact of measures aimed at making maximum use of the Aeon Group’s resources and the success of products and services tailored to customer needs.

Aeon's corporate earnings showed pockets of moderate recovery as consumption expenditure expanded in response to national economic stimulus measures

Aeon continued to revise selling, general and administrative expenses and the reform of its cost structure across the entire group with a particular focus on its GMS (general merchandise stores) operations, which are the core of the Aeon Group. Profits improved even further in response.

As a result, Aeon's consolidated results for the nine months ended November 30, 2010, were as follows: operating revenue was 3,732,302 million yen, an increase of 0.1 percent compared with the nine months ended November 30, 2009; operating income increased 66.7 percent to 93,358 million yen, and ordinary income increased 86.9 percent to 101,128 million yen. Aeon recorded consolidated net income of 49,121 million yen, an increase of 59,047 million yen from the year-earlier period.

During the nine months ended November 30, 2010, in Japan the Aeon Group (including equity-method affiliates) opened 4 new general merchandise stores (GMS) and 39 supermarkets, and closed 10 GMSs and 21 supermarkets.

Overseas, the Aeon Group opened 5 GMSs (4 in China and 1 in Malaysia) and 2 supermarkets (one each in China and Thailand), and closed 1 GMS (China).

In Japan, Aeon operates Carrefour in Amagasaki-City (Photo: Whity)

About Aeon Co., Ltd.

Aeon Co., Ltd.  is a Japan-based company mainly engaged in the general retail sale business, focusing on the operation of general merchandise stores (GMSs). The company is based in Chiba, Japan and it has sister companies in Mainland China, Hong Kong, and Malaysia, and also trades under the JUSCO (Japan United Stores Company) name.

Aeon operates in four business segments. The General Retail segment is engaged in the operation of GMS, supermarkets, convenience and department stores, including Maxvalu Tokai, Carrefour  and Daiei, among others. The Specialty Store segment is engaged in the operation of specialty stores that offer women's apparel, family casual fashion clothing, health and beauty products, as well as shoes such as Talbots. The Developer segment is engaged in the development and leasing of commercial facilities. The Service and Others segment provides various services, including financial services, amusement services, restaurant services, store maintenance services and wholesale services.

Aeon claims to be Japan's largest retail group in terms of sales. However, it is ranked as the second largest Japanese retailer by sales behind, Seven & I Holdings (Seven-Eleven, Public, TYO:3382) in the Fortune Global 500 rankings and 10th worldwide in the retail food and drug store category.

Source: Aeon Group

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Margaret E.L. Stacey
Editor Companies and Products
[email protected]
www.seafood.media


Information of the company:
Address: 1-5-1 Nakase Mihama-ku
City: Chiba-shi
State/ZIP: (CHB 261-8515)
Country: Japan
Phone: +81 43 212 6085
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