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LETTER FROM THE CHAIRMAN

At AEON, we have designed a pathway that will make us stronger and nimble in the face of future uncertainties. Although pressures will remain high, we will continue to strive to learn from our past to create a better future and deliver value to our stakeholders.

DATUK ISKANDAR SARUDIN | Independent Non-Executive Chairman

  • REVENUE

    FY2022
    4.1
    FY2021:RM 3.6 billion

  • PROFIT AFTER TAX

    FY2022
    111.2
    FY2021:RM 58.3 million

  • DIVIDEND PER SHARE

    FY2022
    4.0
    FY2021: 3.0 sen

  • DIVIDEND PAYOUT RATIOE

    FY2022
    50.5
    FY2021: 49.4 %

    LETTER FROM THE MANAGING DIRECTOR

    Dear Shareholders,

    We entered into 2022 with a sense of cautious optimism as we had just emerged from two years of lockdowns due to the COVID-19 pandemic. Despite market volatility and uncertainties, we remained disciplined in executing our strategic priorities.

    MR. KEIJI ONO | Managing Director

    • REVENUE

      FY2022
      3,525.6
      FY2021:RM3,099.1 million

      PROFIT AFTER TAX

      FY2022
      224.2
      FY2021:RM 130.2 million

    • REVENUE

      FY2022
      615.5
      FY2021:RM 531.3 million

      PROFIT AFTER TAX

      FY2022
      218.8
      FY2021:RM 199.6 million
    ceo

    OUR OFFERING

    Total Outlets in Malaysia

    177
    • 28

      AEON Mall

      AEON Mall offers different attractions featuring local and international brands with a unique product mix to cater to our customers’ needs under one roof. Being the pulse point for the surrounding community, AEON Mall is primarily visited for shopping, as well as for relaxation…

    • 35

      AEON store

      AEON Store comprises the General Merchandise Store (GMS) and Supermarket sections that have something for every customer at every time. In essence, it serves as a one-stop destination for urban and suburban households to meet their daily needs.

    • 8

      AEON MaxValu

      AEON MaxValu outlets are located in densely populated neighbourhoods for customers’ daily shopping convenience, making it a breezy and pleasant experience for everyone. Downscaled in built-up area, it reflects on the concept of providing maximum value...

    • 62

      AEON Wellness

      AEON Wellness is a go-to destination for all things related to well-being and healthy living, beauty care and personal hygiene. Focusing on three elements – wellness and healthcare; trusted halal beauty products; and quality Japanese products catering to a niche segment...

    • 41

      DAISO

      DAISO by AEON opened its first outlet in Malaysia in 2010 at AEON Mall Bandaraya Melaka. It is a flat-price one-stop shopping destination offering an extensive inventory of products across multiple categories. DAISO’s products are known for their affordability, quality, variety and uniqueness...

    • 3

      Komai-so

      Komai-so first opened its doors to the public in September 2021 and now has three outlets operating in AEON Mall Bandaraya Melaka, AEON Mall Metro Prima and AEON Mall Cheras Selatan. With the tagline ‘Little Happiness in Life’, Komai-so is a digital, cashless Japaninspired lifestyle store...

    • myAEON2go

      Our e-commerce platform, myAEON2go is about giving customers easy access to AEON’s wide assortment of products to cater to their needs under one roof at their fingertips. It is aligned with our digital transformation as part of the New Retail business model that aims to seamlessly adopt Online-Merge-Offline (OMO)...

    • iAEON App

      iAEON App is a personalised digital lifestyle platform that caters to evolving customer behaviours and improves digital communication. It is an inclusive open-looped application in AEON’s ecosystem that connects the dots to reach more touch points in our customers’ daily journey. iAEON allows customers to access everything AEON from anywhere; collect points, track purchases, get exclusive perks and keep up-to-date with AEON’s exciting events, latest news and happenings.

    • TOPVALU

      TOPVALU is a private brand that was first introduced in Malaysia in 2013 and has since become the leading private brand in Japan. The brand’s aim is to make customers’ everyday lives better by providing trusted quality and delivering new ideas and excitement.

    • Inner Casual (iC)

      Inner Casual (iC) is an athleisure brand of AEON from Japan. From its smart fabric technology that champions how clothing can enhance an active lifestyle plus ensuring that these added values are easy on budget, iC also prioritises maintaining high comfort to fit into customers’ daily lifestyle. Made from eco-friendly, 100% organic cotton, iC is designed to be anti-odour, anti-bacterial, with UV protection plus its garments are guaranteed for high sweat absorption and quick drying ability.

    • Home Coordy

      Home Coordy features minimalistic, durable and quality home living products. Home Coordy brings a wide range of products that are designed with simplicity and functionality in mind.

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    Value Creation Model

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    • Financial
      BUSINESS INPUTS / CAPITALS
      Robust balance sheet and strong earnings enable us to reward shareholders with dividends and reinvest for future growth.
      • Market Cap: RM1.92 bil
      • Shareholder equity: RM1.8 bil
      • Total assets: RM5.4 bil
      • Cash: RM237.5 mil
      OUTCOMES AND VALUE CREATED
      Delivered positive financial performance, notwithstanding macroeconomics challenges and rewarded shareholders through dividend distributions.
      • Revenue: RM4,141.1 mil
      • Net Profit: RM111.2 mil
      • Total proposed dividend payout: 4 sen per share with dividend payout of 50%
    • Human Capital
      BUSINESS INPUTS / CAPITALS
      Active recruitment, development and retention of AEON People while championing a culture of Agile, Genba and Entrepreneurial (A.G.E.)
      • 9,374 AEON People (direct hire) across the organisation
      • 57% female employee representation in FY2022
      OUTCOMES AND VALUE CREATED
      Committed and capable employees with healthy talent pipeline and strong succession planning strategies
      • 48% leadership positions held by women
      • 12,909 AEON People spent 150,000 man-hours on 160 training programmes
      • Employed 123 PWDs (FY2021: 115)
    • Manufactured Capital
      BUSINESS INPUTS / CAPITALS
      Portfolio of our owned and leased assets allow us to reach, influence, market and distribute to our extensive customer base nationwide.
      • 28 AEON Malls
      • 35 AEON Stores
      • AFPC (AEON Food Processing Centre)
      OUTCOMES AND VALUE CREATED
      Invested in the rejuvenation and expansion of our malls and stores as well as expanded assortments of our products and services to improve customer experience
      • Completed rejuvenation/ refurbishment of AEON Alpha Angle in FY2022
      • Opened one store in January 2023 (AEON IOI Putrajaya) which makes up a total of 35 AEON stores nationwide
      • Portfolio of 33 premises that serves high quality, Halal-certified bakery goods
    • Intellectual Capital
      BUSINESS INPUTS / CAPITALS
      Established brand equity built over 39 years with longstanding partnerships with tenant partners and business partners
      • AEON Brand
      • Private brands: Topvalu, Home Coordy, La Boheme
      • AEON Loyalty Programme (AEON Members)
      • iAEON app
      OUTCOMES AND VALUE CREATED
      Invested in digitalisation by adopting the OMO strategy to strengthen our AEON Living Zone ecosystem and increase brand equity
      • Winner of the Brand of The Year Award 2021/2022 In the Retailer - Departmental Stores Category
      • Partnership with 2,469 suppliers and business partners
      • 2.4 million AEON members
    • Natural Capital
      BUSINESS INPUTS / CAPITALS
      Sustainable environmental practices through responsible and efficient use of energy, water and other natural resources
      • Total electricity usage
      • Total water usage
      OUTCOMES AND VALUE CREATED
      Positive contribution to climate change reduction and increased sustainability initiatives and solutions in FY2022.
      • 387,349 MWh in total renewable energy which is equivalent to 302,132 tonnes of CO 2e
      • Zero single plastic use effective 1 January 2023 at our cash counters in all AEON outlets
    • Social and Relationship Capital
      BUSINESS INPUTS / CAPITALS
      Pledging social commitments and bridging communications with our stakeholders while giving back to communities we operate in
      • Active CSR programmes under MAF and Sayap Bagimu initiatives
      • Supporting SMEs and MSMEs
      OUTCOMES AND VALUE CREATED
      • Contributed RM2.2 mil to our communities through programmes under MAF
      • Supported more than 200 SMEs and MSMEs through various programmes which helped to generate more than RM9 mil profit
    Business Values

    BUSINESS VALUES

    01

    Demand Chain Driven
    Understanding the Needs of Customers

    02

    Snipering and Personalisation
    Targeted and Segmented Customer Offerings

    03

    Transparency
    Employees, Customers and All Stakeholders, SMEs and Industry Leaders
    Engagement with Stakeholders
    AEON Strategy

    AEON STRATEGY

    01 ENHANCE OUR ENGINES
    Enhancing existing business models to understand our customers across all our business offerings, including AEON Malls, AEON Stores, AEON Wellness, DAISO and Komai-so.
    02 ENERGISE AEON PEOPLE
    Energising our human capital to be the driving force behind our ongoing transformation, imbuing them with agility and new digital skills which increases our competitive edge and makes us more sustainable.
    03 ENABLE NEW RETAIL BUSINESS MODEL
    Embracing our New Retail business model integrating OMO to serve all brands and enable consumers to enjoy various forms of experiential shopping journeys.
    04 ENTREPRENEURIAL DATA DRIVEN TECHNOLOGY
    Utilising entrepreneurial data driven technology to empower AEON People and partners to be more focused on executing based on our business values of Demand Chain Driven, Snipering and Personalisation, and Transparency.
    05 EMPOWER AEON ECOSYSTEM
    Leveraging the strength of AEON’s stakeholders and partners by connecting every touchpoint of the ecosystem.

    Sustainability Statement

    Environmental

    Social

    Economic
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    • Economic

      STRENGTHENING ECONOMIC PERFORMANCE

      In FY2022, the retail industry recorded strong growth, due to the easing in COVID-19 restrictions and business resumed operations at full capacity. A majority of Malaysians opted to visit physical stores and reverted to their pre-COVID-19 lifestyles, which helped spur economic activities. Apart from economic contribution to the country, it also created employment opportunities that contributed to nation building.

      As part of our goal to become Malaysia’s most preferred retailer, we continued to integrate ESG-related practices through impactful measures that would strengthen operational resilience over the long-term.

    • Environmental

      REALISING OUR GREEN AGENDA

      Climate change remains the greatest environmental threat we face and is recognised as one of AEON’s priority matters under our Environmental Stewardship umbrella. The global retail sector is responsible for 25% (Source: World Business Council for Sustainable Development) of global greenhouse gas (GHG) emissions. As a business, AEON’s operations and supply chains have an impact on the climate.

      We believe that we have a responsibility to introduce more nature-positive solutions in the way we manage our business and operations, stakeholders and our communities. We are deeply committed to reducing our environmental impact by implementing climate change actions as this will not only accelerate the nation’s transition to a low-carbon economy, but also realise our sustainability aspirations.

    • Social

      ENHANCING OUR SOCIAL POSITION

      2022 marked yet another wave of change across our business operations. As business activities resumed, people returned to their workplace, albeit supported by SOPs to ensure a safe working environment.

      This year we took an even more holistic approach to review our talent pipeline and their capabilities as this would be a key factor in driving business growth across our ecosystem, both now and in the future. For us, it was not only about driving performance but also creating value for AEON People, encouraging them to have a mindset for the future. For our communities, we reached out to empower the younger generation and assisted those in need as this will foster higher levels of trust, respect and deepen our relationship.

    Notice of 38 th Annual General Meeting

    Details and Information
    Date & Time

    Wednesday, 17 May 2023 10.00 a.m.

    Broadcast Venue

    Tricor Business Centre, Gemilang Room, Unit 29-01, Level 29, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8 Jalan Kerinchi, 59200 Kuala Lumpur, Wilayah Persekutuan

    Online Meeting Platform

    TIIH Online website at
    https://tiih.online

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