Aeon, Seven & i Enjoy Record Annual Profits
Tokyo, April 11 (Jiji Press)--Of the Big Four retail groups in Japan, Aeon Co. <8267> and Seven & i Holdings Co. <3382> enjoyed record group operating profits in the business year that ended in February, according to their earnings reports released by Thursday.
Aeon's operating profit increased 0.9 pct from the previous year to 212,256 million yen, rewriting a record high for the second consecutive year.
The Aeon group fared well in the financial and real estate businesses, although its retail division struggled with weak demand for winter clothes amid a warmer-than-usual weather.
Seven & i Holdings' profit grew 5.1 pct to 411,596 million yen, hitting a record high for the eighth year in a row. The rise was brought on by increased overseas revenues thanks to acquisitions of convenience stores in the United States, as well as the firm performance of domestic convenience stores.
FamilyMart Uny Holdings Co. <8028> saw its operating profit jump 23.7 pct to 51,553 million yen, after shuttering loss-making outlets under the firm's direct control.
[Copyright The Jiji Press, Ltd.]