TOKYO -- Japanese retail group Aeon brought in a record operating profit of 117.6 billion yen ($791 million) for the six months ending August, up 23% from the same period the previous fiscal year, as the company's affordable private brand products were in high demand from Japanese consumers trying to fight inflation.
"One key point not to lose sight of is the number of customers coming to our stores," Aeon President Akio Yoshida told journalists on Wednesday. "Price cuts are designed to secure total gross profit [from incoming customers]."
