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Tag: Aeon

  • Aeon opens first Supermarket in Myanmar

    Aeon opens first Supermarket in Myanmar

    Japanese retailer and mall operator Aeon has launched its first hypermarket in Myanmar.

    The 2800sqm store is triple the size of its 14 existing supermarkets in Southeast Asia and its first hypermarket in the region. Opened in the capital city of Yangon, it sells household items as well as food. It also features a microfinancing service for shoppers.

    The move is a response to the growing retail sector in Myanmar, which Aeon has been pursuing since its 2016 joint venture with local partner Creation Myanmar Group.

    The hypermarket includes a large home-appliance sales space and a 70sqm dining area.

    “There is further room to increase the number of stores in Myanmar as the country is still short of modern retail space,” said Aeon Orange’s GM of administration Masayasu Isozaki.

    Aeon currently operates 74 stores in Southeast Asia, with shopping malls and supermarkets in Cambodia, Indonesia and Vietnam.

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  • Vietnamese good to be displayed at Japanese supermarket chain

    Vietnamese good to be displayed at Japanese supermarket chain

    A week for Vietnamese goods this year will be held at the Aeon supermarket chain in Saitama prefecture and Kanto region in Japan from June 5-12, according to organizers.

    During the week, Vietnamese goods will be highlighted at 40 outlets in the Aeon distribution system, along with many activities such as plant tours, product assessment, and consultations.

    Business-to-business contacts between Vietnam and Aeon importers, the introduction of Vietnamese products and capacity, popularisation of standards for imports, and agreement signing, along with food shows, tourism promotion, and art performances will be held within the framework of the week.

    After the week, enterprises will be supported to connect with Aeon so as to supply their products to the supermarket chain. AEON committed to raising Vietnam’s export turnover through the group’s system to US$500 million in 2020 and $1 billion in 2025, following a memorandum of understanding (MoU) inked between the Japanese group and the Ministry of Industry and Trade.

    In order to help Vietnamese businesses to join the AEON supply chain and become a supplier for the over 1,000 AEON supermarkets around the globe, the group has built a plan including a number of activities to increase the presence of made-in-Việt Nam goods, Yuichiro Shiotani, General Director of AEON Topvalu Vietnam, said at a recent conference in HCM City.

    AEON has also provided technical support to improve the production capability of Vietnamese suppliers and help them access Japanese customers, as well as boost the purchase of Vietnamese goods to sell at its stores in Japan and other countries, he said

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  • Aeon China to launch self-serve store

    Aeon China to launch self-serve store

    Aeon China is set to launch a self-service store network equipped with technology to anticipate what a customer will buy upon entry.

    The facial-recognition technology will activate recommendations and coupons displayed on the customer’s phone, based on individual purchase habits and digital payment history. It will be installed in 80 of the group’s roughly 480 locations in the territory.

    The Japanese-headquartered retailer’s strategy is intended to reduce staffing costs, allow automatic product ordering and draw in customers. Management needs for the new stores will be addressed by a new centre to be established in Chinese Hangzhou.

    Aeon China also plans to launch an online supermarket and a cross-border e-commerce platform in China this year, in part to accumulate data to support the self-service store network. The firm expects that its development in China will prime the technology for rollout in Japan and Southeast Asia.

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  • EON and Aurora unveil special Songkran promotions Offering 10 months of 0% interest on gold and diamond loans

    EON and Aurora unveil special Songkran promotions Offering 10 months of 0% interest on gold and diamond loans

    Ms. Saranya Pipoppinyo (middle), Vice President of Marketing at AEON Thana Sinsap (Thailand) Public Company Limited, together with Ms. Lapatlada Ruetivarangkoon (left), Vice President and Mr. Anirut Srirungthum (right), Vice President Business Development of Aurora Design Company Limited unveils two summer promotions for AEON Member Card and AEON Credit Card holders through the AEON Happy Pay and AEON Happy Plan services. The first promotion is 0% gold loan installment for up to 7 months, starting from April 12th-14th, 2019. For the second promotion, customers will be able to take on a “Diamond loan” with 0% interest rate for up to 10 months, starting today until 30th April, 2019 at all Aurora Gold and Jewelry branches nationwide.

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  • Daesang to sell Ministop stake to partner Aeon

    Daesang to sell Ministop stake to partner Aeon

    South Korean food manufacturer Daesang is reportedly exiting the convenience store business, selling its stake in the Ministop chain.

    A cut-throat industry in the territory, competition between players has become so intense that legislation is now in effect to forbid the opening of new convenience stores within 50 metres of existing outlets.

    Daesang’s withdrawal will likely result in the sale of its 20 per cent shareholding in the Ministop Korea brand to its Japanese partner Aeon, which attempted unsuccessfully to sell its own shares in the business last year.

    Insiders familiar with the transaction have revealed that talks between the partners are well-progressed and that the shares are likely to be transferred for KRW80–90 billion (US$70.8–$79.6 million).

    Daesang established Ministop with Aeon in 1997, but courted Aeon to purchase a majority stakeholding plus management rights to the business in 2003. The current transaction would remove Daesang from the business entirely, leaving Aeon with a 96.06 per cent stake of the country’s weakest contestant in the nationwide convenience-store playing field.

    Ministop achieved KRW2.6 billion ($2.3 million) in profits in 2017, compared with KRW13.3 billion ($11.76 million) in 2015.

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  • AEON Credit’s 5-minutes Sweep till you drop!

    AEON Credit’s 5-minutes Sweep till you drop!

    The highly-anticipated AEON Credit #MyFestiveMania Supermarket Sweep Challenge returned for its’ second round, giving out more than RM20,000 worth of prizes to 10 lucky winners. Winners stood a chance to fill up their shopping carts with as many groceries and household items as they can within 5 minutes time at the AEON Big Subang Jaya. Each cardholder is entitled to bring one partner to participate in the sweep challenge to help them grab any items within the time duration given.

    The campaign, which runs since December 2018, allows customers using any types of AEON Credit Cards to earn chances for every RM50 spent in a single receipt. The chances are entered into a draw to earn one of the 20 spots in the #MyFestiveMania Supermarket Sweep Challenge.

    “We received tremendous public response in the first round of #MyFestiveMania Sweep Challenge that was held on 26th January 2019, hence, we decided to hold a second round as way to show our appreciation towards our customers because at AEON, customers comes first. In total, we have 20 cardholders who won the spots and brought home more than RM2,000 worth of prizes,” said Shiro Ishida, Chief Marketing Officer of AEON Credit Service (M) Bhd.

    The 10 lucky winners for the second round of the #MyFestiveMania Sweep Challenge are Goh Wei Tin, Soon Chiew Giok, Ahmad Salahuddin Bin Hairai, Aida Fazliza Binti Mat Fadzil, Chew Lee Ching, Goh Chien Long, Sim Tan Qi Zhi, Ong Kee Wah, Chew Swee Har and Lee Chin Wah who are all AEON Credit Cardholders.

    For the second time around, AEON Credit Service together with AEON Big who has a long history of being an established and well-known brand in Malaysia. “We are pleased to once again be able to partner with AEON Big to bring a festive campaign to both our mutual customers that incorporates an element of excitement”, added Shiro Ishida.

    In the first round of the Supermarket Sweep Challenge that was held on the 26th January 2019, a total of 10 winners won a prize worth of RM2,880 each during the 5-minute sweep.

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  • AEON gives hefty prizes for the lucky winners of the “AEON Happy Pay” campaign

    AEON gives hefty prizes for the lucky winners of the “AEON Happy Pay” campaign

    Recently, Ms. Saranya Pipoppinyo (5th from left), Vice President Marketing of AEON Thana Sinsap (Thailand) Public Company Limited awarded prizes to the lucky winners of the “AEON Happy Pay” campaign. The grand giveaway comprises of three prizes of gold bars, worth 100,000 baht each, the second is 20 prizes of 50 satang gold necklaces and the third is 100 vouchers with a combined value of 586,500 baht.  Eligible participants include AEON Your Cash customers that make an installment payment at participating department stores and shops from 30 August – 30 November, 2018.

     

  • Lotte’s Ministop deal falls through

    Lotte’s Ministop deal falls through

    The sale of convenience store chain Ministop fell apart as potential bidder Lotte and the Japan-based convenience franchise failed to agree on a price. The AEON Group of Japan, the largest shareholder of Ministop Korea, filed a notice on Monday that it has suspended the sale process to sell its full stake in the unit. The AEON Group owns a 76.06 percent share while Daesang Group, a Korean food conglomerate, has a 20 percent stake. Japan’s Mitsubishi holds 3.94 percent.

    Ministop Korea also notified its workers of the suspension, vowing to keep searching for a potential suitor.

    Executives from AEON and Ministop visited Seoul over the weekend to meet Shin Dong-bin, chairman of Lotte Group, which also owns 7-Eleven in Korea.

    The retail giant has been considered the likeliest buyer since it reportedly offered the highest price of around 400 billion won ($357.3 million).

    Other competitors include Shinsegae, which owns convenience store franchise Emart24, and Glenwood Private Equity, a local private equity firm.

    Ministop opened a bidding process back in November, but delayed selecting a preferred bidder.

    The introduction of a government regulation banning the opening of convenience stores within 80 meters (262 feet) of another store led to Ministop requesting a higher price, according to local media outlets.

    Ministop’s sale garnered attention from the beginning because it could impact the highly-competitive convenience store chain market in Korea.

    Ministop operates 2,500 stores across the country. If Lotte had succeeded in acquiring Ministop, it could have increased its number of stores from 9,500 to 12,000.

    CU runs the most stores, at 13,109, while the second player is GS25 with 13,018.

    Emart24 ranks fourth with 3,564 stores.

  • AEON Thailand and Mastercard celebrate new year with promotion

    AEON Thailand and Mastercard celebrate new year with promotion

    Mr.Nuntawat Chotvijit (2nd from left), Executive Director of AEON Thana Sinsap (Thailand) Public Limited Company together with Mr.Donald Ong (2nd from right), Country Manager Thailand and Myanmar, Mastercard joined hands to give away a special year-end promotion for AEON Mastercard credit cardholders. With every spending of 1,000 Baht, customers will be entered win a 3 days 2 nights Singapore travel package that includes an Economy Class roundtrip to Singapore, by Singapore Airlines” accommodation at the Resorts World™ Sentosa Universal Studios Singapore™, along withfun-filled experience at world-class theme parks such as Universal Studios Singapore and S.E.A. Aquarium™ A total of 10 prizes will be up for grabs (2 people/prize) worth a combined value of 700,000 baht.

     

  • Aeon Credit posts better earnings in third quarter

    Aeon Credit posts better earnings in third quarter

    Aeon Credit Service (M) Bhd’s net profit for the third quarter ended Nov 30, increased 23.5% to RM87.14 million from RM70.55 million a year ago, attributed to lower impairment loss on financing receivables. Revenue for the period increased 11.6% to RM348.5 million from RM312.35 million.

    For the nine-month period, the group reported a 22.62% rise in net profit to RM267.01 million from RM217.75 million. Revenue was up by 8.7% to RM1.01 billion from RM925.95 million.

    Aeon Credit told Bursa Malaysia that its gross financing receivables as at Nov 30 was RM8.31 billion, representing an increase of 15.41% from RM7.2 billion a year ago. Meanwhile, net financing receivables after impairment was RM7.74 billion compared with RM7.03 billion a year ago.

    Its non-performing loan ratio stood at 2.05% as at Nov 30, 2018 versus 2.48% as at Nov 30, 2017.

    Total transaction and financing volume in the current quarter and nine months ended Nov 30 increased by 49.5% to RM1.5 billion and by 26.4% to RM3.9 billion respectively.

  • AEON Thailand Foundation donation proceeded

    AEON Thailand Foundation donation proceeded

    Last week, Mr.Kiyoyasu Asanuma (4th from left), Chairman of AEON Thailand Foundation, and Ms.Suporn Wattanavekin (3rd from left), Vice Chairman of AEON Thailand Foundation, together with Mr. Nuntawat Chotvijit (2nd from left), Director of Marketing, AEON Thana Sinsap (Thailand) Public Company Limited and Mr.Veerawat Ariyaviriyanant (left), President & CEO of Data Products Toppan Forms Ltd. donated 1,000,000 Baht from the “AEON Charity Bowling Competition You are a HERO” to Ramathibodi Foundation in support of “New Innovation for treatment of cancer ” program. The donation was received on behalf of the foundation by Prof. Dr. Suradej Hongeng (4th from right), Executive Director of Ramathibodi Foundation and the research team from the Ramathibodi Hospital.

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  • AEON sells stake in Vietnamese supermarket chain

    AEON sells stake in Vietnamese supermarket chain

    Japanese retail company AEON has closed its cooperation with Vietnamese shopping market chain Fivimart, a source said.

    A senior AEON official, who asked not to be named, said that the company has sold its entire stake in Fivimart to a Vietnamese firm after three years of cooperation.

    The source did not reveal the value of the deal.

    Starting Friday, the AEON logo has been covered in many Fivimart supermarkets. The company’s official Facebook fanpage updated a new profile picture without the AEON logo and its website says “under upgrade and construction.”

    In 2015, AEON acquired a 30 percent stake in Fivimart from its owner Nhat Nam Joint Stock Company. Fivimart outlets have risen from 10 then to 23 now.

    The deal saw Fivimart’s revenue increase, by as much as 20 percent a year for some time.

    But the company has been reporting losses for the last three years, attributing it to high costs. It lost 60 billion ($2.58 million) in 2015, VND96 billion ($4.13 million) in 2016 and VND23 billion ($989,600) last year.

    At the end of last year, Fivimart reported an accumulated loss of almost VND200 billion ($8.6 million), with a debt of VND823 billion ($35.41 million) which is equivalent to the company’s total asset value.

    AEON joined the Vietnamese market in 2008. In 2011, its member, the Ministop convenience store chain, cooperated with Vietnamese coffee firm Trung Nguyen to launch G7-Ministop convenience stores.

    The deal didn’t work out, and Ministop closed the deal in 2015 and turned to partner with Japanese Sojitz, looking to open 800 stores in the next eight years.

    AEON also partners with local supermarket chain Citimart, which reported a loss of VND91 billion ($3.91 million) in 2015 and VND33 billion ($1.41 million) in 2016.

    Citimart’s accumulated loss by the end of 2016 was VND157 billion ($6.75 million).

    AEON has four shopping malls in Ho Chi Minh City, Hanoi and the southern province of Binh Duong.

    It is constructing another mall in Hanoi and one in the northern Hai Phong city, with a goal to have 20 malls in the country by 2020.

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  • Ministop South Korea is for sale, rivals compete

    Ministop South Korea is for sale, rivals compete

    South Korean retail operators Lotte and Shinsegae are competing to buy the 21-year-old local subsidiary of Japanese convenience-store operator Ministop.

    Shinsegae and Lotte respectively own rival chains Emart24 and 7-Eleven and are both reportedly seeking to take full ownership of Ministop South Korea. Both companies see the deal as a means to grow their respective businesses in a market where convenience-store penetration has reached saturation point, limiting opportunities for organic network growth.

    7-Eleven currently operates 9535 stores across South Korea and Emart24 3413. The Ministop network numbers just 2535.

    Japan’s Aeon, which owns the Ministop brand, owns a majority 76 per cent of the South Korean business.

    Daesang group owns 20 per cent and Mitsubishi the balance. Aeon has appointed Nomura Securities to find a buyer for the business as it sees little future for the convenience store brand in South Korea, a highly competitive market. Instead, Aeon is looking to Southeast Asian markets for growth, including Vietnam, Thailand and Cambodia.

    Last year, Ministop South Korea sales totalled 1.18 trillion won (US$1 billion), ranking it fourth in revenue terms behind GS25, CU and 7-Eleven.

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  • Aeon to shut down Index Living Mall Malaysia stores

    Aeon to shut down Index Living Mall Malaysia stores

    Aeon Co (M) Bhd’s net profit plunged 64.5% to RM9.79 million for the second quarter ended June 30 compared with RM27.55 million in the previous corresponding period, due to the recognition of impairment loss on investment in its associate company Index Living Mall Malaysia Sdn Bhd (ILMM).

    Its revenue however, rose 5.4% to RM1.06 billion from RM1.01 billion.

    Aeon said in a filing with the stock exchange that ILMM will be closing down the remaining of its furniture outlets in Malaysia by the third quarter of 2018. The outlets are located at Aeon Shah Alam and Kota Baru, IOI City Mall, Putrajaya as well as Aeon Mall Tebrau City, according to its website.

    “As such, for the second quarter result, the company has recognised the impairment loss on its investment in the associate company which amounted to RM8.01 million and also share of its year-to-date operating loss which amounted to RM13.7 million.”

    ILMM is a 49:51 joint venture company between Aeon and Index Living Mall Company Ltd which was incorporated in Thailand.

    Aeon said the outlet closures are expected to reduce its earnings per share and net assets per share by about 2 sen for the financial year ending Dec 31.

    For the first six months of the year, the group’s net profit contracted 29.8% to RM37.73 million from RM53.75 million on the back of a 4.4% rise in revenue to RM2.18 billion from RM2.09 billion.

    Looking ahead, Aeon said the sales and services tax implementation will have an impact on consumer spending and product pricing.

    “With such outlook, the board expects the performance for the current year to remain challenging.”

    For the retail business, the group said it will continue to refurbish its selected stores and employ appropriate marketing and pricing strategies.

    Meanwhile, Aeon foresees the occupancy and rental rates for the property management services to remain stable and sustainable.

    Aeon’s share price closed unchanged at RM2.10 on 590,400 shares done.

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  • Japan’s Aeon to invest in grocery delivery Boxed

    Japan’s Aeon to invest in grocery delivery Boxed

    Japanese retail group Aeon has lead a US$111 million funding round in US bulk grocery delivery business Boxed.

    Besides the cash injection, Aeon and Boxed will share knowledge and experiences on issues such as logistics, robotics and AI data, helping to accelerate Aeon’s digital transformation.

    “Our industry is constantly evolving. Our latest fundraising efforts will allow us to capitalise on those changes,” said Boxed CEO and co-founder Chieh Huang in a statement.

    “We’ll also continue to expand our national footprint by focusing on reaching our core consumer in various key markets, to increase national brand awareness of Boxed,”

    Other participants in the latest Boxed funding round were Alpha Square Group, CDIB Capital, Gabriel Naouri and existing shareholders in Boxed.