Aeon (company)

Aeon Co., Ltd. (イオン株式会社), formerly Jusco Co., Ltd. (ジャスコ株式会社), is a Japanese diversified retail holding company. It is one of the largest retail companies in Japan, owning Aeon hypermarkets, Aeon Mall and Aeon Town shopping malls, Daiei, MaxValu, Maruetsu, and My Basket supermarkets, Ministop convenience store, Welcia drugstore, and Aeon Cinema movie theaters.

Aeon traces its origins back to 1758 during the Edo period in Japan when it was established as a small sundry goods store called Shinohara-ya. Later, it was renamed Okada-ya after the founding family. In 1970, Okada-ya merged with several other companies it had established and became Jusco. Through a series of mergers and acquisitions, Jusco expanded and in 2001 changed its name to Aeon, which was its own brand. In 2010, Aeon merged with its subsidiary retail companies and consolidated all its hypermarket brands such as Jusco and Saty under the Aeon name. In 2021, Aeon was reportedly the 17th largest retailer in the world in terms of revenue.

Naming
The name Aeon is a transliteration from the koine Greek word ὁ αἰών (ho aion), from the archaic αἰϝών (aiwon). The name and symbolism used in the branding (i.e., aeon) implies the eternal nature of the company.

History
JUSCO (ジャスコ) is the acronym for Japan United Stores Company, a chain of "general merchandise stores" (or hypermarket) and the largest of its type in Japan.

The company was legally incorporated in September 1926 as Okadaya (founded in 1758). In 1970, Okadaya merged with Futagi and Shiro to form Jusco Co., Ltd. The employees voted to name the company "Japan United Stores Company". The various Jusco companies are subsidiaries of the Aeon supermarket chain. The Jusco name was adopted from a company founded as a kimono silk trader in 1758. Renamed Aeon in 1989, it operates stores throughout Japan under Jusco and other names and also has a presence in Malaysia, Hong Kong, mainland China and Thailand.

On August 21, 2001, the company became Aeon Co., Ltd. The largest Jusco (also the largest single-building shopping center in Japan) opened in 2005 in Mito. On August 21, 2008, the corporate structure changed. Aeon Co., Ltd. became a holding company while Aeon Retail Co., Ltd. took over the retail operations formerly held by Aeon Co., Ltd.

As of March 1, 2011, all Jusco and SATY stores under the Aeon umbrella in Japan changed their names to Aeon while all the Jusco stores and shopping centres in Malaysia have been fully re-branded into Aeon since March 2012. The Hong Kong and Mainland China subsidiaries officially changed their name to Aeon on 1 March 2013.

Malaysia
In 1985, the first Jusco store outside Japan was opened in Plaza Dayabumi, Kuala Lumpur, Malaysia, as a jointly-owned company with Cold Storage and three local companies, known as Jaya Jusco. It was the first time that a Japanese company had entered into a significant joint venture in the Malaysian retail industry. Jusco assumed total operational control of the chain in 1988. Currently. there are 35 Aeon (formerly known as Jusco) retail stores and shopping centres in operation throughout Malaysia.

The oldest (though not the first) Jusco store in Malaysia is Jusco Taman Maluri located in Cheras, Kuala Lumpur. It opened on 30 October 1989. The Aeon Bukit Tinggi Shopping Centre in Bandar Bukit Tinggi, Klang, Selangor, Malaysia is the largest Aeon store in Malaysia and overall in Southeast Asia, with over 200,000 m2 of built-up area and 5,000 car park bays. Jusco in Malaysia is notable for being among the first general merchandise chains to introduce biodegradable polybags made from sweet potatoes.

In March 2012, all the Jusco stores and shopping centres in Malaysia were rebranded to Aeon, following the decision of Aeon in Japan. In November 2012, Aeon acquired the operation of Carrefour Malaysia with an enterprise value of €250 million. All of the current Carrefour hypermarkets and supermarkets in Malaysia were then fully re-branded into Aeon BiG. The acquisition of Carrefour Malaysia made Aeon as the second largest retailer in Malaysia, which combined the sales from Aeon Retail stores (formerly known as Jusco) and the former Carrefour outlets. Post-acquisition, Aeon's ASEAN business vice president said the retail giant targeted to open 100 outlets in various formats in the country by year 2020.

In April 2018, Aeon expanded to East Malaysia by opening their first mall in Kuching.

Vietnam
The first Jusco store "AEON MALL Tan Phu Celadon" opened on January 11, 2014, in Ho Chi Minh City at Tân Phú district. On October 28, 2015, Hanoi opened its first Jusco store "AEON MALL Long Bien" with an investment of 200m USD. Vietnam has currently about 200 Junco stores including 6 malls and several supermarkets. Junco has announced in 2023 that the first Aeon mall will open in Central Vietnam in the city of Huế in 2024.

Cambodia
The first Jusco store in Cambodia was opened on June 30, 2014, in Phnom Penh at Tonlé Bassac district. As of September 2023, Cambodia has three Aeon Malls, all of them located in the capital Phnom Penh.

Mainland China
In Mainland China, Jusco uses Aeon and Jusco for its name. From 1996, Aeon Co., Ltd created many shopping mall named Jusco. In Shanghai, there was a Jusco before, but it divested finance finally because of poor management. In Guangdong, Guangdong Jusco Co., Ltd used the name "Jusco" to operate the first Jusco at 1996. Now, there are thirteen shops in Guangdong. Otherwise, Aeon also operated large shopping mall in Beijing and Shunde. It also planned to expand to North China. In Shenzhen, Aeon has  a number of large stores including one at Coastal city (Houhai station ).

Hong Kong
Aeon Stores (Hong Kong) Co., Limited was established in Hong Kong in November 1987 and listed on the Hong Kong Stock Exchange in February 1994. Aeon aims to develop a chain operation in Hong Kong and offer value-for-money merchandise to Hong Kong customers.

The Hong Kong Jusco subsidiary was established in November 1987 as Jusco Department Store Co. Ltd. The first Jusco store opened in Kornhill in December 1987 (another name for this store was Quarry Bay Main and Flagship store). It was listed in Hong Kong Exchanges and Clearing Limited on 4 February 1994 with the stock code 984.

Hong Kong Jusco has now been renamed as Aeon Stores (Hong Kong), and mainly manages shopping malls and other retail shops such as supermarkets, discount shops, home places, convenience stores and department stores. They offer low-cost and convenient daily necessities to customers including food, clothes, household items and electrical appliances. As of March 2013, there are eight Aeon General Merchandise Stores (GMS) in Hong Kong, seven branches of Aeon Supermarkets, 22 branches of Living Plaza by Aeon, 4 branches of BENTO EXPRESS by Aeon, 2 Aeon Style stores and only one branch of Aeon MaxValu Prime, which is located at The One, Tsim Sha Tsui.

Taiwan
Taiwan Jusco are subsidiaries of Taiwan Aeon Stores Co., Ltd. The first Jusco was in Windance in Hsinchu City. It was operated in 2003. The second Jusco was operated in December 2005 at New Taipei city global mall.

Thailand
All Juscos have been closed down in Bangkok, Thailand. Aeon Co., Ltd. and now use the MaxValu name instead.

Other countries
Aeon has a presence in other ASEAN countries including malls in Indonesia and Myanmar.