AEON VIETNAM COMPANY LIMITED

AEON VIETNAM COMPANY LIMITED (CÔNG TY TNHH AEON VIỆT NAM) is the Vietnamese arm of AEON Co., Ltd—Japan’s largest retail conglomerate. Since entering Vietnam in 2011, AEON VIETNAM has quickly established itself as a dominant force in the country’s rapidly modernizing retail sector, operating multiple large-scale shopping malls and general merchandise stores in Ho Chi Minh City, Hanoi, Binh Duong, and beyond.

Vietnam's retail market is among the most promising in Southeast Asia, driven by a young, urbanizing population and rising middle class. AEON’s format of comprehensive, clean, and family-friendly retail environments has proven attractive, allowing it to position itself as a premium yet accessible destination for consumer goods, food, and lifestyle services.

Solid Revenue, But Profit Squeezed in 2023

In 2023, AEON VIETNAM recorded USD 418.5 million in total sales, representing 2.55% growth over the previous year. While this growth is modest compared to the 32.7% jump in 2022, it demonstrates the company's continued expansion and consistent consumer interest in its services.

However, profits took a significant hit—falling by 46.73% to USD 9.8 million, down from USD 18.4 million in 2022. This decline suggests rising operational costs, possibly related to logistics, wages, or promotional pricing to sustain customer traffic amid stiff competition from local and regional retail chains.

The company’s assets surged to USD 568.5 million, an 18.35% increase year-over-year, indicating ongoing investments in infrastructure, new store openings, or digital transformation. At the same time, owner’s equity rose only slightly, reflecting some strain in balancing expansion with retained earnings.

Liquidity Warning: Negative Working Capital

A key concern is AEON VIETNAM’s negative working capital of USD -24.65 million. For a large retailer managing complex supply chains and payment cycles, this could signal challenges in managing short-term liabilities or cash flow pressure. While not uncommon in capital-intensive industries, persistent negative working capital should be watched closely by suppliers and business partners.

Managed by Japanese Leadership, Operating Nationwide

The company is led by General Director Tezuka Daisuke, reflecting its deep integration into AEON Group’s global management strategy. AEON VIETNAM’s branches span the major economic hubs of Ho Chi Minh City, Hanoi, and Binh Duong—serving millions of customers annually through its network of malls, supermarkets, and specialty stores.

In-Depth Risk Assessment Available via VBI

For suppliers, real estate developers, or business partners evaluating long-term cooperation with AEON VIETNAM, it's crucial to access verified financial insights. The Business Verification and Risk Management Service by Vanguard Business Information (VBI) offers exclusive access to private financial data on AEON VIETNAM and thousands of other companies in Vietnam. VBI enables users to assess commercial viability, liquidity, and credit risk before engagement.

Final Thoughts: A Retail Powerhouse with Growth and Financial Complexities

AEON VIETNAM COMPANY LIMITED is a cornerstone of Vietnam’s formal retail landscape. Backed by Japanese capital and expertise, the company has shown strong expansion in infrastructure and reach. However, its profitability dip and liquidity challenges in 2023 reveal that even established players must constantly adapt to Vietnam’s competitive and cost-sensitive retail environment. Business partners should proceed with interest—but also with informed caution.