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Aeon to open supermarkets in China

Three Japanese companies – Aeon Group, Mitsubishi Shokuhin and Mitsubishi Corporation – will join forces to develop a supermarket business in China.

With its high economic growth, and growing consumer incomes in China, particularly in urban centers, there is a growing catchment for modern supermarkets offering convenience and safety. That trend has encouraged the Japanese companies to target China after Aeon’s Jusco supermarkets’ success in markets like Malaysia.

Foods wholesaler Mitsubishi Shokuhin and trading company Mitsubishi Corporation will consider investing in these new supermarkets in China.

The new venture will initially open in Guangdong, Shandong and Jiangsu provinces. Each supermarket under Maxvalu brand will cost an investment of 80 million Chinese yuan (US$12.52 million).

The supermarkets in Guangdong and Shangdong are expected to open this year while the Jiangsu supermarket is scheduled to open in 2013.

Aeon plans to open 30 Maxvalu supermarkets in China annually from 2014 onwards.

GB

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