AEON Kyushu is set to acquire Tokiwa Industry, enhancing its presence in the Oita prefecture's grocery market.
Target Company Information
AEON Kyushu has announced its decision to acquire Tokiwa Industry, a supermarket operator based in Oita Prefecture. Tokiwa Industry operates 23 grocery stores in the region, under the umbrella of local department store group Tokiwa. The company reported revenue of 31.6 billion yen, an operating profit of 216 million yen, and a net asset value of 1.78 billion yen for the fiscal year ending February 2024.
This acquisition will allow AEON Kyushu to enhance its dominant market presence in Oita through a more concentrated store strategy, leveraging Tokiwa's existing network and customer base.
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Industry Overview
The retail industry in Japan, particularly in the supermarket sector, remains competitive yet resilient. The market has witnessed foundational shifts due to changing consumer behaviors, such as a
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Disclosed details
Revenue: $287M
EBIT: $20M