date:Aug 29, 2013
Aeon Group has vowed to continue its Asian expansion, despite significant losses in two key markets, according to media reports.
The Japanese retail giants Hong and China division posted a net loss of US$3.4m over the first half of 2013. Profit in Hong Kong dropped an alarming 60.5 per cent to HK$23.8m, despite a 16.4 per cent rise in revenue. Aeon cited rising operation costs for the performance.
The group lost RMB98.8m in mainland China, which it attributed to a slowdown in economic growth.