TOKYO -- Japanese retail giant Aeon announced on Tuesday that it has agreed to buy Tokyo-based Inageya, a major supermarket chain serving the Tokyo metropolitan area. Aeon intends to invest tens of billions of yen to increase its stake in Inageya from 17% at present to over 50% by the end of February 2024.
Business deals
Aeon to buy Inageya, to create Japan's largest supermarket
Combined business aims to defray investment, procurement costs
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Senior management at the two companies have agreed to Aeon taking a majority stake in Inageya. Combined, the two will become Japan's largest supermarket chain. (Photo by Shihoko Nakaoka)
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