Japan’s largest retailer AEON Company has posted an increase in net profits for the first half of the current financial year, which rose to JPY23.17bn (US$196.6m), up from a net loss for the first half of the previous year of JPY20.27bn.

The retailer’s revenues increased to JPY2.43tn, up from JPY2.15tn. The gain in net profit was primarily the result of considerably lower extraordinary loss of JPY33.22bn in the accounting period compared to a loss of JPY82.94bn last year.

The company posted first half earnings per share of JPY31.96 compared to a loss of JPY8 per share last year.

At time of press, shares in the Japanese retailer were trading at JPY2,930, up from a close yesterday (3 October) of JPY2,905.