Aeon's Net Profit Jumps 3.3-Fold in March-Aug.
Tokyo, Oct. 13 (Jiji Press)--Japanese retail giant Aeon Co. said Tuesday that its consolidated net profit in the March-August first half of its current business year increased 3.3-fold from a year earlier to 13.3 billion yen. The surge reflected the strong performance of drugstore operator Tsuruha Holdings Inc., which became an Aeon subsidiary in January, and a decrease in special losses. ...
Japanese retail behemoth Aeon Co. reported on Tuesday that its net profit more than tripled during the first half of its current fiscal year, from April to September, reaching 13.3 billion yen compared to 4.1 billion yen in the same period last year. This substantial growth was primarily driven by the robust performance of its subsidiary drugstore operator, Tsuruha Holdings Inc., and a reduction in special losses.
The company's total sales during this period surged to a record high of 5,904.1 billion yen, marking a 13.8% increase. Moreover, Aeon's consolidated operating profit jumped 10.7% to 130.7 billion yen, setting a new all-time high for two consecutive years. This improvement was largely due to strong performances in drugstore and Aeon Mall shopping facility operations, which effectively countered the decline in its primary general merchandise store business.
The company accounted for a loss of 4.1 billion yen due to natural disasters, notably an earthquake in Kumamoto Prefecture on July 28, which caused an explosion at the Kumamoto Aeon Mall facility in Kashima.
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