Mitsubishi Corp has denied reports of a possible tie-up with Japan's largest retailer Aeon.

Reports this week suggested the two companies were considering forming a capital and business tie-up, with Mitsubishi acquiring a 5% stake in Aeon for around JPY30bn (US$324m).

In response to the news, Mitsubishi issued a statement claiming the two companies have been maintaining a "friendly and constructive" working relationship in a "broad range" of business fields.
 
"Today's news reports on a possible partnership between the two companies are not grounded in fact at this time," the statement said. "Going forward, MC will promptly announce any matters of this kind that require disclosure."