Japan retailer Aeon Mall earns $22 mln in Vietnam from Mar-Nov 2024, up 19%
Aeon Mall reported an operating income of JPY3,434 million ($21.8 million) in Vietnam in March-November 2024 (first three quarters of fiscal year 2024), up 19.3% year-on-year.
According to the Japanese retailer’s report for the nine-month period, the operating income in Vietnam was the highest in the ASEAN region and the third-highest in the world. The top ones were Japan as its domestic market with JPY30,277 million ($192 million) and China with JPY4,276 billion.
Aeon Mall Hue in Hue town, central Vietnam. Photo courtesy of the government's news portal.
Vietnam’s operating income growth of 19.3% outpaced Japan with 17.2% and China with negative 20.1%.
In terms of operating revenue, Aeon Mall earned JPY12,460 million ($79 million) in Vietnam, up 13.7%. As a result, Vietnam was Aeon Mall’s third-biggest market, behind Japan and China.
Aeon Mall stressed challenges in the period, including the passing of Vietnam Party General Secretary Nguyen Phu Trong leading to citizens’ self-restraint mood and cancellation of some customer-attraction events, and typhoon Yagi hitting northern Vietnam in September. However, domestic consumption in Vietnam remained strong, Aeon Mall pointed out.
Regarding the launch of new malls, Aeon said the latest one in Vietnam is Aeon Mall Hue in the central town of Hue and the next one is Aeon Mall Thanh Hoa in the central province of Thanh Hoa.
Aeon Mall Vietnam, under Aeon Mall, kicked off the construction of its VND4,157 ($163.8 million) Aeon Mall Thanh Hoa in December 2024 and aims to put it into operation in the latter half of 2026.
To date, there are seven Aeon outlets in Vietnam: two each in Hanoi and Ho Chi Minh City; and one each in the southern province of Binh Duong, the northern city of Hai Phong and the central province of Thua Thien Hue. Of these, the latest to open is in Thua Thien Hue.
Aeon is building two more malls in Vietnam, one in the northern province of Quang Ninh and one in the Mekong Delta province of Long An.
So far, Aeon has invested over $1.5 billion in Vietnam. Vietnam is retail giant Aeon's second most important market, after Japan, said Kazaoka Takao, chief merchandizing officer at Aeon Vietnam.
- Related News
- Read More
Consortium plans $12.8 bln boulevard-landscape project in Hanoi
A consortium including Vietnam’s transport infrastructure giant Deo Ca Group has proposed developing the VND338 trillion ($12.81 billion) Red River boulevard and landscape, which could become Hanoi’s largest-ever infrastructure project.
Infrastructure - Thu, November 20, 2025 | 8:58 am GMT+7
Viettel, UAE-based EDGE partner on defense, dual-use technologies
Military-run Viettel, Vietnam’s largest telecommunications and technology group, has signed an MoU with EDGE, one of the world’s leading advanced technology and defence companies, in a move that underscores the country’s ambition to expand high-tech manufacturing.
Companies - Thu, November 20, 2025 | 8:53 am GMT+7
Maersk eyes building major container ports in Vietnam
A.P.Moller - Maersk (Maersk) is exploring investment opportunities to develop large, modern and low-carbon container ports in Vietnam.
Infrastructure - Wed, November 19, 2025 | 4:36 pm GMT+7
Taiwan semiconductor giant Panjit acquires 95% of Japan-based Torex’s Vietnam arm
Panjit International Inc, a Taiwan-listed semiconductor major, has approved the acquisition of a 95% stake in Torex Vietnam Semiconductor, a subsidiary of Japan-based Torex.
Companies - Wed, November 19, 2025 | 3:59 pm GMT+7
Vietnam PM urges Kuwait Petroleum to expand Nghi Son refinery, build bonded fuel storage facility
Prime Minister Pham Minh Chinh on Tuesday called on Kuwait Petroleum Corporation (KPC) to expand the Nghi Son oil refinery and build a bonded fuel storage facility in Vietnam.
Industries - Wed, November 19, 2025 | 3:18 pm GMT+7
Southern Vietnam port establishes strategic partnership with Japan’s Port of Kobe
Long An International Port in Vietnam’s southern province of Tay Ninh and Japan’s Port of Kobe on Monday signed an MoU establishing a strategic port partnership which is expected to boost trade flows, cut logistics costs, and deliver greater benefits to businesses across the region.
Companies - Wed, November 19, 2025 | 10:14 am GMT+7
Thaco's agri arm seeks to expand $44 mln cattle project in central Vietnam
Truong Hai Agriculture JSC (Thaco Agri), the agriculture arm of conglomerate Thaco, looks to aggressively expand its flagship cattle farming project in the central Vietnam province of Gia Lai.
Industries - Wed, November 19, 2025 | 9:56 am GMT+7
Japan food major Acecook eyes new plant in southern Vietnam
Acecook, a leading instant noodle maker with 13 plants operating in Vietnam, is studying a new project in the southern province of Tay Ninh.
Industries - Wed, November 19, 2025 | 9:39 am GMT+7
Vietnam’s largest Aeon Mall to take shape in Dong Nai province
Authorities of Dong Nai province, a manufacturing hub in southern Vietnam, on Monday awarded an investment registration certificate to Japanese-invested Aeon Mall Vietnam Co., Ltd. for its Aeon Mall Bien Hoa project.
Industries - Tue, November 18, 2025 | 8:17 pm GMT+7
Police propose prosecuting Egroup CEO Nguyen Ngoc Thuy for fraud, bribery
Vietnam’s Ministry of Public Security has proposed prosecuting Nguyen Ngoc Thuy, chairman and CEO of Hanoi-based education group Egroup, along with 28 others, for fraud to appropriate property, giving bribes, and receiving bribes.
Society - Tue, November 18, 2025 | 4:01 pm GMT+7
Singapore-backed VSIP eyes large urban-industrial complex in southern Vietnam
A consortium involving VSIP, a joint venture between local developer Becamex IDC and Singapore’s Sembcorp, plans a large-scale urban-industrial development named the "Moc Bai Xuyen A complex along the Tay Ninh-Binh Duong economic corridor in southern Vietnam.
Industrial real estate - Tue, November 18, 2025 | 2:38 pm GMT+7
Aircraft maintenance giant Haeco to set up $360 mln complex in northern Vietnam
Hong Kong-based Haeco Group, Vietnam's Sun Group, and some other partners plan to invest $360 million in an aircraft maintenance, repair and overhaul (MRO) complex at Van Don International Airport in Quang Ninh province - home to UNESCO-recognized natural heritage site Ha Long Bay.
Industries - Tue, November 18, 2025 | 2:13 pm GMT+7
Thai firm opens 20,000-sqm shopping center in central Vietnam hub
MM Mega Market Vietnam (MMVN), a subsidiary of Thailand's TCC Group, on Monday opened its MM Supercenter Danang, a 20,000 sqm commercial complex with total investment capital of $20 million, in Danang city.
Real Estate - Tue, November 18, 2025 | 12:20 pm GMT+7
Vietnam PM asks Kuwait fund to expand investment in manufacturing, logistics, renewable energy
Prime Minister Pham Minh Chinh on Monday called on the Kuwait Fund for Arab Economic Development (KFAED) to strengthen cooperation with Vietnam, particularly in the areas of industrial production, logistics, renewable energy, green economy, and the Halal ecosystem.
Economy - Tue, November 18, 2025 | 11:53 am GMT+7
Thai dairy brand Betagen to build first plant in Vietnam
Betagen, a famous Thai dairy brand, plans to build its first manufacturing plant in Vietnam, located in the southern province of Dong Nai.
Industries - Tue, November 18, 2025 | 8:49 am GMT+7
Banks dominate Vietnam's Q3 earnings season, Novaland posts biggest loss
Banks accounted for more than half of the 20 most profitable listed companies in Vietnam’s Q3/2025 earnings season, while property developer Novaland recorded the largest loss.
Finance - Tue, November 18, 2025 | 8:24 am GMT+7
