Aeon Store

COMPANY PROFILE
AEON Stores (Hong

Kong) Co., Limited
REFERENCE CODE: FF353390-B300-49AA-A69A-9E6ACDF15FDB

PUBLICATION DATE: 26 Feb 2015
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AEON Stores (Hong Kong) Co., Limited

TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview..............................................................................................3
Key Facts...............................................................................................................3
Business Description...........................................................................................4
History...................................................................................................................5
Key Employees.....................................................................................................7
Key Employee Biographies..................................................................................8
Major Products and Services............................................................................13
Top Competitors.................................................................................................14
Company View.....................................................................................................15
Locations and Subsidiaries...............................................................................17

MarketLine
Page 2

Company Overview
COMPANY OVERVIEW
AEON Stores (Hong Kong) (AEON Stores), a subsidiary of AEON Company, is engaged in the
operation of general merchandise stores (GMS). The companys stores provide a range of daily
necessity merchandise such as food, fashion, household products and electrical appliances to
customers. AEON Stores operates in China and Hong Kong. The company is headquartered in
Kowloon, Hong Kong and employs around 8,000 people.
The company recorded revenues of HK$8,487.5 million (approximately $1,094.3 million) in the fiscal
year ended December 2013, an increase of 15.1% over 2012. The company's operating profit was
HK$109.4 million (approximately $14.1 million) in fiscal 2013, a decrease of 63.2% compared to
2012. Its net profit was HK$107.1 million (approximately $13.8 million) in fiscal 2013, a decrease of
55.2% compared to 2012.
KEY FACTS
Head Office

7th Floor D2 Place
9 Cheung Yee Street
Lai Chi Kok
Kowloon
HKG
Phone
852 2565 3600
Fax
852 2563 8654
Web Address
http://www.jusco.com.hk
Revenue / turnover 8,487.5

(HKD Mn)
Financial Year End
December
Employees
8,000
Hong Kong Stock

Exchange Ticker
0984

MarketLine
Page 3

Business Description
BUSINESS DESCRIPTION
AEON Stores (Hong Kong) (AEON Stores), a subsidiary of AEON Company, owns and operates a
chain of general merchandise stores (GMS). The company provides its customers a wide range of
daily necessity merchandise including food, fashion, household products and electrical appliances.
AEON Stores operates in China and Hong Kong.
The company operates eight general merchandise stores, five independent supermarkets, 23
independent Living PLAZA by AEON and six Bento Express by AEON in Hong Kong. It also operates
20 GMS, six independent supermarkets and two shopping centers in Guangdong Province, China.
AEON Stores offers a range of daily necessity merchandise to the customers. The company operates
42 stores in densely populated residential and commercial districts in Hong Kong and 28 stores in
south China.
The company's subsidiaries include Guangdong AEON Teem Co., Ltd.; AEON South China Co.,
Ltd.; and Jusco Stores (Hong Kong) Co., Limited.

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History
HISTORY
AEON Stores (Hong Kong) (AEON Stores) was established as JUSCO Stores (Hong Kong) Company
in Hong Kong in 1987.
In 1994, the company was listed on the Hong Kong Stock Exchange.
JUSCO Stores (Hong Kong) Company launched JUSCOCITY, a virtual shopping store in 2000. In
the same year, the company opened a $10 Plaza at the JUSCO Tuen Mun Store.
In 2001, JUSCO Stores opened two stores at Tseung Kwan O and Tsz Wan Shan Store. In the
following year, JUSCO Stores opened its flagship $10 Plaza store in Causeway Bay and in Shenzhen
JUSCO City Plaza Store.
The company's name was changed to AEON Stores (Hong Kong) in 2003. In the same year, the
company opened its JUSCO Zhongshan Regent Plaza Store. Also in 2003, the company opened
JUSCO stores in Kowloon.
In 2004, AEON Stores established a wholly owned subsidiary, AEON (China) Company, in Shenzhen,
China. In the same year, the company opened a JUSCO $10 Plaza in Jordan.
The company opened its eighth and ninth independent $10 Plaza stores in Panda Hotel, Tsuen Wan
in 2005. In the same year, AEON Stores opened its JUSCO Supermarket, the retail flagship mall of
Sun Hung Kai Properties in Kwun Tong.
In 2006, AEON Stores opened the second JUSCO Supermarket in Kai Tin Shopping Centre in Lam
Tin. In the same year, the company opened its third JUSCO Supermarket at Grand Waterfront in
Tokwawan, and also opened a JUSCO $10 Plaza flagship store in Kowloon.
The company began AEON Shunde Shopping Center with a GMS in Shunde, Guangdong in 2007.
In the same year, the company's JUSCO Tseung Kwan O Store was closed. Later in the same year,
AEON Stores opened its second shopping center with a GMS in Huizhou, Guangdong, southern
China. Also, in 2007, the company opened its 12th JUSCO $10 Plaza in Western District on Hong
Kong Island and the second Bento Express in Mongkok.
In 2008, the company entered into an agreement with Shenzhen Friendship Trading Center and
Shenzhen Centralcon City Plaza Company to acquire their 35% interest in the registered capital of
Shenzhen AEON Friendship Company. In the same year, AEON Stores opened its 13th JUSCO
$10 Plaza in Shau Kei Wan of Eastern District. Later in the same year, AEON Stores re-opened its
renovated JUSCO Kornhill Store, further in 2008. Also, in 2008, the company opened its first JUSCO
Living Plaza in Hong Kong.

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History
AEON Stores' subsidiary, Guangdong JUSCO Teem Stores, signed a lease with Yuexiu City
Construction Group for a shop space in Sky Metro City at the Guangzhou Railway Station East to
open a General Merchandise Store (GMS) in 2009. In the same year, AEON Stores opened its 4th
JUSCO SUPERMARKET in Wo Che, Shatin, Hong Kong. In the same year, AEON Stores opened
the 14th JUSCO General Merchandise Store (GMS) in Guangdong and this new outlet is located at
Popark Plaza in Tianhe District, Guangzhou.
In 2010, the company opened the fifth independent JUSCO Supermarket of AEON Stores (Hong
Kong) Co, in Hong Kong. In the same year, AEON Stores relocated JUSCO Lok Fu Store to MegaBox,
Kowloon Bay. In the same year, AEON Stores entered into an agreement with Goodman Kung Yip
Investments No. 2, an investment holding company incorporated in the Cayman Islands, to acquire
Wilson Logistics Centre located at Nos. 24 - 28 Kung Yip Street, Kwai Chung, New Territories, Hong
Kong.
AEON Stores opened its fourth JUSCO Living Plaza and third Bento Express at Tsing Yi, Hong Kong
in 2011. In the same year, AEON Stores opened AEON MaxValu Prime Tsim Sha Tsui Store, its
first premium supermarket in Hong Kong.
In 2012, the company's Kowloon flagship store, JUSCO Lai Chi Kok Store, was opened at Aqua
Marine in West Kowloon. In the same year, AEON Stores opened AEON MaxValu Prime Causeway
Bay Store.
AEON Stores opened its eighth general merchandise AEON Tai Wo Hau Store in 2013. In the same
year, the company changed the names of all its shops located in Hong Kong and south China,
including general merchandise store (GMS), supermarkets, Living Plaza and Bento Express have
been changed from "JUSCO" to "AEON".
AEON Stores appointed Yoshiaki Mizushima as the Deputy Managing Director and Executive Director;
and Yuki Habu and Kazuhiko Yasukawa as Non-Executive Directors in March 2014.
In December 2014, the companys wholly-owned subsidiaries, AEON South China (ASC) and AEON
Information Services (Shenzhen) (AIS) entered into the Service Agreement. Under this agreement,
AIS provides services to the establish and maintain the New Point Cards and other related services
to ASC, and ASC pays service fees to AIS for the services provided.

MarketLine
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Key Employees
KEY EMPLOYEES
Name
Job Title
Board
Christine Chan Pui Man
Managing Director and Executive

Director
Executive Board
2341000 HKD
Junichi Suzuki
Deputy Managing Director and

Executive Director
Executive Board
1520000 HKD
Yoshiaki Mizushima
Deputy Managing Director and

Executive Director
Executive Board
977000 HKD
Chak Kam Yuen
Executive Director
Executive Board
Yoshinori Okuno
Chairman
Non Executive Board
Yuki Habu
Non-Executive Director
Non Executive Board
Yutaka Agawa
Non Executive Board
Kazuhiko Yasukawa
Non Executive Board
Daniel Sham Sui Leung
Independent Non-Executive Director Non Executive Board
Anna Cheng Yin Ching
Anna Chan Yi Jen Candi
Betty Lo Miu Sheung
Yeung Tze Shing
General Manager, Finance
Senior Management
Sakamoto Tsuyoshi
General Manager, Operations

Division
Senior Management
Lau Chi Sum Sam
Assistant General Manager, Buying Senior Management

Division
Chan Kwong Leung Eric
Company Secretary

MarketLine
Compensation
Senior Management
Page 7

Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES

Christine Chan Pui Man
Board: Executive Board
Job Title: Managing Director and Executive Director
Since: 2009
Age: 62
Ms. Chan has been the Managing Director since 2012 and an Executive Director since 2009 at
AEON Stores (Hong Kong) Co (AEON Stores). She also serves as a Director at AEON (China) Co.,
Ltd. Ms. Chan joined the company in 1998. She has experience in the buying field as well as
operations. Ms. Chan is a graduate of the State of Washington University with a Bachelors degree
in Business Administration.
Junichi Suzuki
Job Title: Deputy Managing Director and Executive Director
Since: 2012
Age: 57
Mr. Suzuki has been the Deputy Managing Director and an Executive Director at AEON Stores since
2012. He joined AEON Co. Ltd. in 1980 and was a Store Manager before he was transferred to
AEON (Thailand) Co., Ltd. in 1998 and became its Director in charge of Administrations. In 2009,
Mr. Suzuki was transferred to Beijing AEON Co., Ltd. and became Deputy Managing Director. He
joined the company in 2011. Mr. Suzuki graduated from the Kyoto Sangyou University with a
Bachelors degree in Business Administration.
Yoshiaki Mizushima
Job Title: Deputy Managing Director and Executive Director
Since: 2014
Age: 56
Mr. Mizushima has been the Deputy Managing Director and an Executive Director at AEON Stores
since March 2014. He joined the company in 1982 and served as the General Manager of Buying
Strategy Department in 2011 and General Manager of Fashion Buying Division of Tokai Area. Mr.
Mizushima graduated from the St. Andrews University with a Bachelors degree in Business
Administration.

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Chak Kam Yuen

Job Title: Executive Director
Since: 2013
Age: 51
Mr. Chak has been an Executive Director at AEON Stores since 2013. He joined the company in
1987 and has over 20 years of experience in retail industry. Mr. Chak graduated from The Open
University of Hong Kong with a Masters degree in Business Administration and Electronic Commerce.
Yoshinori Okuno
Board: Non Executive Board
Job Title: Chairman
Since: 2011
Age: 50
Mr. Yoshinori has been the Chairman at AEON Stores since 2011. He also serves as a Director and
Vice President at AEON (China) Co., the Chairman at AEON Maxvalu (Guangzhou) Co and a Director
at AEON Mall (Guangzhou) Co. Mr. Yoshinori joined AEON Co. in 1993 and also serves as the Vice
Chairman at Guang Dong Chain Operations Association. He graduated from the Tsukuba University
with a Bachelors degree in Science.
Yuki Habu
Job Title: Non-Executive Director
Since: 2014
Age: 46
Ms. Habu has been a Non-executive Director at AEON Stores since March 2014. She serves as the
President of AEON (China) Co., Ltd. Ms. Habu joined AEON Co. in 1991 and has been a Director
of AEON (China) Co., Ltd. and was the former Managing Director of Beijing AEON Co., Ltd. Ms.
Habu graduated from the Keio University with a Bachelors degree in Commerce.
Yutaka Agawa
Since: 2012
Age: 57

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Mr. Yutaka has been a Non-Executive Director at AEON Stores since 2012. He also serves as a
Director at AEON (China) Co. Mr. Yutaka joined AEON Co. in 1980 and was transferred to AEON
Co. (M) Bhd. in 1990 as the General Manager. He served as the Deputy Managing Director at AEON
South China Co and Managing Director at Qingdao AEON Dongtai Co., Ltd. Mr. Yutaka graduated
from the Kansai University with a Bachelors degree in Sociology.
Kazuhiko Yasukawa
Since: 2014
Age: 59
Mr. Yasukawa has been a Non-Executive Director at AEON Stores since March 2014. He has been
the General Manager of Group Buying Strategy Department of AEON Co. since 2009. He joined the
parent company in 1978 and served as the Executive General Manager of Household Buying Division
in 2007. Mr.Yasukawa graduated from the Kansai University with a Bachelors degree in Commerce.
Daniel Sham Sui Leung

Job Title: Independent Non-Executive Director
Since: 2004
Age: 58
Mr. Sham has been an Independent Non-Executive Director at AEON Stores since 2004. He is an
Associate Member of The Institute of Chartered Accountants in England and Wales and a Certified
Public Accountant of the HKICPA. Mr. Sham served as a Partner with Moores Rowland Mazars from
1988 to 2003. He serves as an Independent Non-Executive Director at Melco International
Development. Mr. Sham graduated from the Leeds University with a Bachelors degree in Economics.
Anna Cheng Yin Ching

Since: 2006
Age: 44
Ms. Cheng has been an Independent Non-Executive Director at AEON Stores since 2006. She is a
fellow of the Association of Chartered Certified Accountants and also a Certified Public Accountant
of the HKICPA. Ms. Cheng serves as a Director at Rosedale Hotel Group Limited.
Anna Chan Yi Jen Candi

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Since: 2013
Age: 52
Ms. Chan has been an Independent Non-Executive Director at AEON Stores since 2013. She is a
practicing solicitor in Hong Kong for over 25 years and is a Consultant at LCP Lawyers. Currently,
she serves as the Deputy Chairman of Rules at the Hong Kong Golf Association and Deputy
Tournament Director at the Ladies Asian Golf Tour. Ms. Chan graduated from the University of Hong
Kong with Bachelor of Law degree.
Betty Lo Miu Sheung

Since: 2013
Age: 52
Ms. Lo has been an Independent Non-Executive Director at AEON Stores since 2013. She is a
qualified solicitor in Hong Kong and has over 24 years of experience in general legal practice, with
specialization in conveyancing, commercial and probate laws. Ms. Lo has been in practice since
qualification and currently serves as a Consultant at Messrs. K.C. Ho & Fong, Solicitors. She also
serves as an Independent Non-Executive Director at Eagle Legend Asia and Sincere Watch (Hong
Kong) Limited. Ms. Lo graduated from The University of Hong Kong with a Bachelor's degree in laws
(LL.B.) in 1985 and also holds a Postgraduate Certificate in Laws (PCLL).
Yeung Tze Shing

Board: Senior Management
Job Title: General Manager, Finance
Age: 50
Mr. Yeung serves as the General Manager of Finance Division at AEON Stores. He is a fellow of
the Association of Chartered Certified Accountants and a Certified Public Accountant of the HKICPA.
Mr.Yeung graduated from the Chinese University of Hong Kong with a Bachelors degree in Science.
Sakamoto Tsuyoshi
Job Title: General Manager, Operations Division
Age: 44

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Mr. Sakamoto serves as the General Manager of Operations Division at AEON Stores. He joined
the Company in 2013. Mr. Sakamoto graduated from the Kokushikan University with a Bachelors
degree in Education.
Lau Chi Sum Sam

Job Title: Assistant General Manager, Buying Division
Age: 47
Mr. Lau serves as the Assistant General Manager of Buying Division at AEON Stores. He joined the
company in 1992 and has experience in retail operations and buying field.

MarketLine
Page 12

Major Products and Services
MAJOR PRODUCTS AND SERVICES

AEON Stores (Hong Kong) (AEON Stores), a subsidiary of AEON Company, owns and operates a
chain of general merchandise stores (GMS). The company's key products include the following:
Electrical appliances
Fashion products
Food products
Household items

MarketLine
Page 13

Top Competitors
TOP COMPETITORS
The following companies are the major competitors of AEON Stores (Hong Kong) Co., Limited
Parkson Retail Group Limited

Lifestyle International Holdings Ltd
New World Department Store China Limited
Century Ginwa Retail Holdings Limited
Golden Eagle Retail Group Ltd.

MarketLine
Page 14

Company View
COMPANY VIEW
A statement by Yoshinori Okuno, the Chairman at AEON Stores (Hong Kong) (AEON Stores) is
given below. The statement has been taken from the companys 2013 annual report.
The year of 2013 was marked by a number of challenges for AEON Stores (Hong Kong) Co., Limited
and its subsidiaries (AEON Stores or the Group). In the first half of the financial year, a slowdown
in economic growth in China along with the volatile stock market performances in both China and
Hong Kong have dampened consumer sentiment across the two areas. These trends coupled with
the highly competitive operating environment of the retail sector have inevitably affected the
development of the Group. In the face of the rapidly changing macroeconomic environment, the
Group has promptly adjusted its business strategy, which has helped stabilise its business
performance in the second half of the year.
AEON Stores has rapidly expanded in Hong Kong and south China, opening nearly 20 stores under
different business models within several years. Responding to the challenges in market environment,
in the past few months the Group has focused on enhancing operational efficiency, optimising sales
performance of the newly opened stores, and boosting same store sales performance of the
established stores.Through the constant and diligent efforts of all of our staff, the Group has managed
to maintain a double-digit growth in revenue. The overall decline in staff cost to revenue ratio, in
addition to the relative decrease in impairment loss in the second half of the year, helped boost the
business performance and achieve a turnaround from the loss recorded in the first half. Profit
attributable to shareholders amounted to approximately HK$107.0 million in 2013.
To offer more attractive choices of quality merchandise and services to enrich the life of our customers,
the Group has unified the name of all its stores in Hong Kong and south China under the AEON
brand effective 1 March 2013. The move has not only reinforced its branding efforts and highlighted
the strong support by AEON Co., Ltd., but also created synergies for the Group in both management
and operations. We are continuing to realise AEONs operational philosophy Everything we do, we
do for our customers by providing more satisfying merchandise, services and shopping experiences
to our customers.
Looking ahead, 2014 will be a year of dedicated efforts for optimising the business operations and
consolidating the business foundation for the Group. With lingering uncertainties within the operational
environment across Hong Kong and south China, including slow resumption to rapid economic
growth and rising cost pressures, the management remains prudently optimistic about the prospects
and will be wellprepared to encounter any challenges that may arise. Apart from its ongoing strategy
to enhance efficiency during the past year, the Group will also examine the preference of customers
across different regions, review the interior design, merchandise mix and ancillary services of all
stores and make adjustments accordingly in a bid to provide a distinctive shopping experience to
customers in an exciting ambience and trendy appearance. AEON Stores will continue to capitalise
on the solid foundation it has built in the Hong Kong and south China markets as well as its strong
financial position to consolidate its leading presence in the retail sector.

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Company View
Last but not least, on behalf of the Board, I would like to thank our management and all of our staff
for their hard work and dedicated contributions. The Group is dedicated to upholding the principles
of good corporate citizenship, with the aim to become one of the best retailers in the hearts of its
customers.

MarketLine
Page 16

Locations and Subsidiaries
LOCATIONS AND SUBSIDIARIES

Head Office
7th Floor D2 Place
9 Cheung Yee Street
Lai Chi Kok
Kowloon
HKG
P:852 2565 3600
F:852 2563 8654
http://www.jusco.com.hk
Other Locations and Subsidiaries

Guangdong Jusco Teem Stores Co., Ltd.
CHN
AEON South China Co., Ltd.

CHN
Jusco Stores (Hong Kong) Co., Limited

HKG

(Kornhill Store)
Kornhill Plaza (South)
2 Kornhill Road
Quarry Bay
HKG

(Tsuen Wan Store)
Ground Floor - 3rd Floor
Skyline Plaza
88 Tai Ho Street
Tsuen Wan
New Territories
HKG

(Kowloon Bay Store)
L1 & L2
MegaBox
Enterprises Square 5
38 Wang Chiu Road
Kowloon Bay
HKG

(Whampoa store)
G/F & Basement One
Site 5 & 6
Whampoa Garden
Hunghom
Kowloon
HKG

(Tuen Mun)
Upper Ground and First Floor
Tuen Mun Town Plaza Phase I
One Tuen Shun Street
Tuen Mun
New Territories
HKG

MarketLine
Page 17

Locations and Subsidiaries
AEON Stores (Hong Kong) Co., Limited (Lai

Chi Kok)
Aqua Marine
8 Sham Shing Road
Lai Chi Kok
Kowloon
HKG

MarketLine

(Kowloon City)
2nd Floor and 3rd Floor
KCP
128 Carpenter Road
Kowloon
HKG
Page 18
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COMPANY PROFILE

AEON Stores (Hong

REFERENCE CODE: FF353390-B300-49AA-A69A-9E6ACDF15FDB

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

852 2565 3600

852 2563 8654

Revenue / turnover 8,487.5

Hong Kong Stock

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

Christine Chan Pui Man

Managing Director and Executive

Deputy Managing Director and

Deputy Managing Director and

Chak Kam Yuen

Non Executive Board

Non Executive Board

Non Executive Board

Non Executive Board

Daniel Sham Sui Leung

Independent Non-Executive Director Non Executive Board

Anna Cheng Yin Ching

Independent Non-Executive Director Non Executive Board

Anna Chan Yi Jen Candi

Independent Non-Executive Director Non Executive Board

Betty Lo Miu Sheung

Independent Non-Executive Director Non Executive Board

Yeung Tze Shing

General Manager, Finance

General Manager, Operations

Lau Chi Sum Sam

Assistant General Manager, Buying Senior Management

Chan Kwong Leung Eric

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

KEY EMPLOYEE BIOGRAPHIES

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

Chak Kam Yuen

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

Daniel Sham Sui Leung

Anna Cheng Yin Ching

Anna Chan Yi Jen Candi

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

Board: Non Executive Board

Betty Lo Miu Sheung

Yeung Tze Shing

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

Lau Chi Sum Sam

AEON Stores (Hong Kong) Co., Limited

AEON Stores (Hong Kong) Co., Limited

MAJOR PRODUCTS AND SERVICES