Logo of Phnom Penh Post newspaper Phnom Penh Post - Aeon reports record revenue amid ASEAN expansion

Aeon reports record revenue amid ASEAN expansion

Aeon reports record revenue amid ASEAN expansion

Aeon Co, the Japanese firm developing the soon-to-be-opened Aeon Mall on Phnom Penh’s Sothearos Boulevard, has reported a record $62.3 billion in revenue for its financial year ending February 28.

The company, which has more than 260 subsidiaries, including the shopping centre development arm Aeon Mall Co, announced its annual financial results to the Tokyo Stock Exchange last Friday citing an ongoing effort to penetrate ASEAN markets.

“The highest annual operating revenue in Aeon’s history,” the financial statement boasts.

The firm’s interests in the region include the Aeon Mall Phnom Penh, which is slated to open June 30. The company’s first Vietnam shopping centre, which opened in January, and a licence to provide consumer credit card products in Myanmar obtained in July last year were also noted as ASEAN milestones in the April 25 statement.

“Aeon strove to expand its business by executing a common group strategy prioritizing Asian markets, urban markets, senior-oriented markets, and digital markets in order to capture business opportunities in new growth areas,” the report reads.

Aeon’s shopping centre development business, which now oversees operations at 138 separate malls through Japan, China and Vietnam, saw an 8.1 per cent year-on-year increase in operating revenue to $2.1 billion.

Meanwhile, in Cambodia, Japanese technology giant Sharp secured a deal with Aeon Mall Phnom Penh to provide a solar power generation system, according to a company statement published on Monday.

The system will include two separate solar power generators, including one see-through panel said to sit above an open-air café, which will be located in the centre of the 108,000-square-metre mall space.

The see-through panel, which is capable of generating 27.5 kilowatts of power, will reportedly be the first time the technology has been installed away from Japan, the statement said.

A second solar-power generation system, capable of generating 198 kilowatts of power, will also be installed on the east side of the new mall, in the bicycle parking zone.

The Sharp system will power the mall’s entire lighting and air-conditioning system, according to the electronics provider.

Aeon Mall officials cemented the new Sothearos Boulevard shopping centre’s opening date of June 30 earlier this week.

The Aeon Mall and Sharp deal, of which the value remains unknown, is not the only Japanese firm to benefit from the new development.

In January, Hitachi-Sunway Information Systems, a joint Japanese- and Malaysian-owned technology and IT assistance firm, signed an agreement with Aeon to provide point-of-sales terminals and technical assistance to the 190 retail tenants said to fill the new shopping centre.

Some 49 new Japanese tenants are to open up at Aeon Mall when its doors open in June. Aeon Co and Aeon Mall Co officials could not be reached for comment.

MOST VIEWED

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,

  • Capital-Poipet express rail project making headway

    The preliminary results of a feasibility study to upgrade the Phnom Penh-Poipet railway into Cambodia’s first express railway indicate that the project would cost more than $4 billion and would take around four years to complete. The study was carried out by China Road and

  • Thai boxers to join SEA Games’ Kun Khmer event

    The Cambodian SEA Games Organising Committee (CAMSOC) – together with the Kun Khmer International Federation (KKIF) and Khmer Boxing Federation – have achieved a “great success” by including Kun Khmer in the upcoming biennial multi-sports event on its home soil for the first time, said a senior

  • Bullets to bracelets: Siem Reap man makes waste from war wearable

    Jewellery is often made from valuable gemstones like emeralds or diamonds and precious metals like gold or silver, or valueless things like animal horns. But a man in Siem Reap has approached the manufacture of delicate pieces from a different angle. His unique form of

  • Second Hungary business forum set for H2

    Cambodia has asked Hungary to provide GSP- (Generalised System of Preferences) Plus facilities for when the Kingdom sheds its least-developed country (LDC) label, as the two countries prepare to hold a second business forum in the second half (H2) of this year to expand trade

  • 61% of 2022 imports came from just 3 markets

    The three largest exporters to Cambodia – mainland China, Vietnam and Thailand – accounted for 60.94 per cent of the Kingdom’s total merchandise imports last year, at $18.245 billion, which was up 11.99 per cent over 2021, according to the General Department of Customs and Excise. Cambodia’s total imports