Aeon to Tie Up with Western Japan Supermarket Operator Fuji
Tokyo, Oct. 12 (Jiji Press)--Major Japanese retailer Aeon Co. <8267> said Friday it will forge a capital and business partnership with Fuji Co. <8278>, a supermarket operator based in Matsuyama, the capital of Ehime Prefecture in the Shikoku region of western Japan.
Aeon will acquire up to 15 pct of Fuji shares for about 13 billion yen from existing Fuji shareholders at the end of February next year.
Fuji will acquire shares in supermarket operator Maxvalu Nishinihon Co. <8287>, an Aeon affiliate based in the city of Hiroshima in the Chugoku western region, near Shikoku, from Aeon in March 2019 or later. Details, including the number of shares Fuji will buy, are set to be decided later through consultations among parties concerned.
Aeon and Fuji will jointly procure goods for sale and codevelop private brand items to be sold in Shikoku and Chugoku, where Fuji has its outlets.
Aeon hopes to increase its presence in the western regions where it is lagging behind rivals.
[Copyright The Jiji Press, Ltd.]