Japan’s Mitsubishi and Aeon are rumoured to be considering creating a comprehensive capital and business tie-up, reports Planet Retail.
Under the alleged agreement, Mitsubishi is expected to acquire a 5 per cent stake in Aeon for some JPY30bn (US$280.4m) to become the retailer's top shareholder, Planet Retail said.
The two companies also plan to jointly engage in global procurement of goods and co-operate in opening outlets overseas.
Through the tie-up, Aeon intends to promote management efficiency through cost cuts in procurement and distribution of goods, while Mitsubishi expects the alliance to help its efforts to diversify its sources of revenue, Planet Retail said. An official announcement could be made later today.
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