JAPAN: Aeon plans to integrate brands
According to unconfirmed reports in the Japanese press, Japan's top supermarket operator Aeon Co. is to integrate its three supermarket subsidiaries under the Aeon brand as part of efforts to rebuild its struggling domestic business.
Aeon Retail Co., the Chiba Prefecture-based operator of Jusco brand stores, Mycal Corp., the Osaka-based operator of Saty brand stores, and Aeon Marche Co., will be integrated by next Febuary according to the Japanese media reports.
The consolidation of personnel and accounting operations would help cut the Aeon group's overall costs by JPY50bn a year, it said. The retail giant is struggling, with sales for Aeon Group falling 3% to JPY2.52trn and operating profit plummeting 39% to just JPY35.4bn last year.
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