Japan’s Aeon Mall posts $30M profit in Vietnam

By Anh Tu April 14, 2025 | 12:54 am PT

Japanese retailer Aeon Mall reported profits of JPY4.23 billion (US$29.6 million) from its Vietnamese operations last year, an 8.6% increase from 2023.

Revenues were up 13% to VND17.3 billion, making Vietnam its largest market in Southeast Asia and second biggest globally behind China, according to the company’s financial report.

Its profit in Vietnam was only 10.7% less than in China despite revenues being just a quarter.

Aeon Mall in Thua Thien Hue, central Vietnam, which began operation in September 2024. Photo courtesy of Aeon Vietnam

It now has eight malls in Vietnam with a total retail area of 462,000 square meters.

Aeon Mall has invested $1.5 billion in Vietnam in the 10-odd years it has been in the country, an executive said earlier.

It has more malls under construction, with the latest one to break ground being in Ha Long in the northern province of Quang Ninh. It will throw open its doors in the second half of next year.

This month a $230-million mall in Can Tho City is set to begin operation.