JAPAN: Aeon "plans Asian expansion"

By just-food.com | 26 October 2010

Japanese retailer Aeon has said it aims to nearly double its operating profit in three years through expanding in Asia, according to reports.

According to Reuters, the company released a business plan today (26 October) that predicted its operating profit would reach JPY250bn (US$3.07bn) in February 2014, from JPY135bn in its 2009/2010 financial year.

The company announced plans to invest JPY830bn in opening new stores, of which a quarter of those will be earmarked for countries such as Indonesia and Thailand.

According to the report, the investment in south-east Asia would be more than double what it spent in a three-year plan that ended in February.

Additionally, the company is rumoured to be one of the bidders on Carrefour's operations in Thailand, Malaysia and Singapore.

Sectors: Emerging markets, Mergers & acquisitions, Retail

Companies: Aeon, Carrefour

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