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Aeon's aggressive expansion in China starts to bear fruit

Japanese retailer poised for ninefold profit surge in mainland as it gains local fans

Aeon's stores are gaining more recognition in China.   © Reuters

TOKYO -- Japanese retail group Aeon is expected to log an 800% increase in operating profit in China to about 13 billion yen ($118 million) for the fiscal year ending February 2020, as the country becomes an increasingly important market for the company, Nikkei has learned.

Group operating profit is seen rising 8% to 230 billion yen, with China accounting for 60% of overall gains. Chinese revenue is projected to increase by 5% to over 290 billion yen.

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