Marubeni and Mitsubishi Corp. Invest in AEON Group
September 3, 2008
AEON announced that Marubeni and Mitsubishi Corp. agreed to receive a right for allocation of new shares to a third party for AEON’s administrative function subsidiaries on September 1, 2008. Exploiting general trading company’s capabilities and know-how, AEON aims to reinforce its product development and sourcing capability.
Marubeni has agreed to invest 888.75 million yen in AEON Topvalu Co. Ltd., responsible for Private Brand product development, and AEON Global Merchandising Co., Ltd., responsible for procurement of name brand products, making Marubeni’s ratio of shareholding 15 percent.
Mitsubishi Corp.’s investment value of roughly 100 million yen will be directed to AEON Global SCM, Co. Ltd., responsible for commodity distribution, giving Mitsubishi 15% of shareholding ratio.
Execution of the both investments is expected to take place on September 30, 2008.
Original article published on September 3, 2008; translated by Kiyo Hayasaka
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