Major Japanese retailer Aeon is to develop a supermarket business in China in conjunction with two other Japanese companies.
The retailer will form a joint venture with food wholesaler Mitsubishi Shokuhin and trading company Mitsubishi Corporation to develop supermarkets there under the Maxvalu banner.
Inside Retail Asia reported the joint venture would initially open outlets in Guangdong, Shandong, and Jiangsu provinces. Each store would require investment of around Rmb80m (US$12.25m).
Supermarkets planned for Guangdong and Shandong are expected to open this year, while the supermarket planned for Jiangsu should open in 2013.
Just Food Asia reported that as of 2014 Aeon planned to open 30 Maxvalu stores in China annually.
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