Business Intelligence on Retailing, Franchising, and Consumerism in China

Japan's Aeon Gained Profit In China For The First Time

Japanese retailer Aeon announced its financial report for 2014, stating that the company's Chinese business gained profit of HKD7.1 million during the reporting period.

This was reportedly the first time for Aeon, which had entered the Chinese market for nearly 30 years, to make profit in China. In 2013, the Japanese retailer made losses of HKD56.9 million in this marketplace.

Though facing an unfavorable environment, Aeon's Chinese business revenue still increased by 9.4% to HKD4.927 billion and its losses decreased from HKD158.3 million to HKD24.3 million. If disregarding property, plant and equipment depreciation, the company recorded HKD7.1 million profit in China in 2014.

Aeon said that the results were due to the group's product portfolio adjustment and logistics support service improvement.

In addition, during the reporting period, Aeon's Hong Kong business revenue was HKD3.889 billion, a slight decrease compared with the HKD3.983 billion in 2013.

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