Aeon books 4.198 billion yen disaster loss as Kumamoto blast investigation continues
In short
Aeon reported a 4.198 billion yen extraordinary loss linked to disasters including the July Kumamoto earthquake in its March-August consolidated results. The company said the final loss remained uncertain as investigations into the Aeon Mall Kumamoto explosion continued.
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Aeon announced October 13 that it recorded a 4.198 billion yen extraordinary loss in its interim consolidated results following disasters including the July 28 Kumamoto earthquake. The retailer said the final loss was not yet determined and that it would examine the impact on full-year earnings. Mainichi reported that the disaster-related charge also included damage from heavy rain in Chiba in August. [ 2 , 3 ]
The earthquake was followed by an explosion at Aeon Mall Kumamoto in Kashima, Kumamoto prefecture. Seven people died, including employees who had returned inside after evacuating, Sankei reported. Mainichi reported that Aeon had allowed employees to re-enter before safety checks were completed. Aeon and the government each established accident investigation committees to examine the cause and related circumstances. [ 2 , 3 ]
Aeon's president apologised to bereaved families, injured people and others at the earnings news conference, Sankei reported. He said the company would disclose the investigation committee's report promptly after receiving it, according to Mainichi, which said the disclosure timetable was undecided. Nikkei reported that Aeon was working with gas companies to check commercial facilities nationwide and was proceeding with measures ahead of the investigation's conclusion. [ 1 , 2 , 3 ]
Operating revenue increased 13.8% to 5.9041 trillion yen, a sixth consecutive record for the interim period, while net profit rose to 13.3 billion yen, about 3.3 times the year-earlier result. Sankei reported strong performance in health and wellness and domestic and overseas development operations, while the supermarket business posted an operating loss. TBS NEWS DIG said the drugstore business and Aeon Mall operations in Vietnam drove results. The full-year forecast was unchanged, Sankei reported. [ 2 , 3 , 6 ]
Why it matters
Seven people died in the mall explosion after the earthquake, according to Japanese reports. Aeon is checking commercial facilities nationwide with gas companies and said it would disclose the accident investigation report when received.
Key facts
- Aeon recorded a 4.198 billion yen extraordinary loss in its interim consolidated results. [ 2 , 4 , 6 ]
- Operating revenue rose 13.8% to 5.9041 trillion yen, while net profit reached 13.3 billion yen, about 3.3 times the year-earlier figure. [ 2 , 3 , 4 ]
- The company left its full-year forecast unchanged. [ 2 , 4 ]
Confirmed by several sources
Still unclear
- The final loss and timing of the investigation report's disclosure remain uncertain. The company said the investigation and insurance assessment were ongoing; Mainichi reported that no disclosure timetable had been set.