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AEON Credit Revenue of First Nine Months of FY2022/23 Up by 15.2% to HK$887.4 million following Improved Market Sentiment and Successful Mass Promotion Activities

indie
4 minutes

HONG KONG, Dec 21, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its results for the nine months ended 30 November 2022 (the "reporting period" or "nine months of FY2022/23") During the reporting period, the Group's revenue rose by 15.2% to HK$887.4 million and operating profit recorded a 17.0% increase to HK$380.7 million. Meanwhile, profit after tax was up by 2.9% to HK$250.3 million, with earnings per share increasing to 59.77 HK cents for the reporting period (nine months of FY2021/22: 58.09 HK cents). Both overseas and local consumer spending showed a progressive recovery in the three months ended 30 November 2022 (the "third quarter"). The improved market sentiment, along with the Group's efforts to capture business opportunities, resulted in a notable growth in sales, which recorded an overall increase of 28.3% when compared with the nine months ended 30 November 2021 (the "previous period" or "nine months of FY2021/22"). The overall increase in sales and revolving credit card and personal loan balances drove a solid increase in interest income, and thus growth in revenue...

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AEON Credit Secures its Framework for Sustainability-Linked Loans, Strengthens and Advances its Sustainability Pledge

indie
3 minutes

HONG KONG, Nov 30, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced that it has secured its sustainability-linked loan framework and entered agreements for three sustainability-linked loans (the "Loans"), with Mizuho Bank, Ltd., Hong Kong Branch, MUFG Bank, Ltd., Japanese Corporate Banking Division (Hong Kong) and Sumitomo Mitsui Banking Corporation, Hong Kong Branch, (the "Lenders"), with a total carrying amount of HK$320 million and a term of three years. The Loans are the Group's first sustainable financing initiative and strengthens its commitment to endorsing and developing in the sustainability arena. Sustainability performance metrics have been set in accordance with AEON Credit's existing Sustainability Development Policy, and will be assessed on an annual basis by the external reviewer, the Hong Kong Quality Assurance Agency. As mutually agreed with the Lenders, the Group will be entitled to receive interest rate savings for the Loans as an incentive for the achievement of the predetermined sustainability-linked targets. Mr. Tomoharu Fukayama, Managing Director of AEON Cre...

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AEON and CJPT Begin Logistics Improvement in Kyushu

ruth
2 minutes

Toyota City, Japan, Sep 29, 2022 - (JCN Newswire via SEAPRWire.com) - AEON KYUSHU Co., Ltd., AEON GLOBAL SCM Co., Ltd. and Commercial Japan Partnership Technologies Corporation (CJPT) have announced that they are working together on a logistics improvement project for the AEON Group in the Kyushu area that will solve problems faced by the logistics industry, such as soaring logistics costs and driver shortages.AEON has been working to improve efficiency at each stage of logistics, from procurement to sales, to fulfill its mission of supporting the daily lives of its customers. The company strongly believes that it is essential to collaborate with partners beyond the framework of individual companies. An example is pursuing further efficiency by viewing the entire supply chain as a continuous process, in order to solve issues related to logistics and the protection of lifestyles in an environment where all costs are rising.CJPT believes that streamlining logistics, in addition to vehicle electrification, is a path toward building a carbon-neutral society. The company has been working to minimize cargo and operation stagnation (logistics downtime) using big data and real-time process...

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AEON Credit 1H2022 Revenue Up by 11.8% to HK$571.7 Million

indie
4 minutes

HONG KONG, Sep 26, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its interim results for the six months ended 31st August 2022 ("1H2022" or the "reporting period"). During the reporting period, the Group's revenue was up by 11.8% year-on-year to HK$571.7 million and profit after tax increased by 2.6% to HK$176.8 million, with earnings per share rising to 42.21 HK cents (1H2021: 41.15 HK cents). In view of the Group's sound fundamentals and to share its fruitful results with shareholders, the Board has resolved to declare an interim dividend of 22.0 HK cents per share (1H2021: 22.0 HK cents per share), representing a dividend payout ratio of 52.1%.The Group took a number of timely initiatives during the reporting period to drive healthy growth in both sales and receivables and maintain a quality portfolio, as the market in Hong Kong was on a gradual recovery following an array of economic stimulus measures launched by the government. With an increased in the overall sales and receivables balance, the Group recorded an increase in interest income of 10.4% to HK$479.7 million 1H202...

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AEON Credit (00900) 1Q2022 Revenue up by 9.7% to HK$279.1 million

indie
4 minutes

HONG KONG, Jun 23, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its unaudited results for the three months ended 31 May 2022 ("1Q2022", or the "reporting period"). For 1Q2022, the Group's revenue increased 9.7% year-on-year to HK$279.1 million and operating profit before impairment losses and impairment allowances was up by 16.4% to HK$126.9 million. The Group recorded profit of HK$82.7 million (1Q2021: HK$97.0 million) and earnings per share of 19.74 HK cents for the reporting period.Overall sales for 1Q2022 increased by 12.3% against 1Q2021, with gross advances and receivables balance up by 4.0% relative to the amount at end of February 2022. With an increase in sales for the Group, both as a credit card issuer and acquirer and an insurance intermediary, the Group recorded a year-on-year increase of HK$7.4 million in fees and commissions, reaching a total of HK$28.9 million. Interest income, meanwhile, increased by HK$15.8 million to HK$233.9 million, driven by the continued rise in receivable balances. These, combined with the increase in handling and late charges due to the...

JCN Newswire
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Signing of a Basic Agreement between Futaba Town, Namie Town, AEON TOHOKU, and Toyota for the Establishment of a Wide Area Mobile Retail Business in Specified Reconstruction and Revitalization Bases

ruth
4 minutes

Toyota City, Japan, May 31, 2022 - (JCN Newswire via SEAPRWire.com) - Futaba Town, Namie Town, AEON TOHOKU Co., Ltd. (AEON TOHOKU), and Toyota Motor Corporation (Toyota) signed a Basic Agreement today for the Establishment of a Mobile Retail Business that Uses a Fuel Cell Vehicle in Specified Reconstruction and Revitalization Bases (Basic Agreement).Images of the fuel cell mobile retail vehicle to be operated by AEON TOHOKUAim of the Basic AgreementThe two municipalities and two companies involved in the Basic Agreement aim to support residents experiencing difficulties with everyday shopping, through the establishment of a mobile retail business. Drawing on respective resources and expertise, the intention is to contribute to regional sustainability and environmental conservation to stimulate reconstruction efforts following the Great East Japan Earthquake. In this way, the four signatories aim to resolve regional issues, improve administrative services, and build sustainable cities of the future.Future InitiativesUnder the specific initiatives of the Basic Agreement, AEON TOHOKU, the main party involved, will launch on June 10 a mobile retail business serving Specified Reconstruc...

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AEON Credit Service Launches AEON CARD WAKUWAKU at the Forefront in Addressing Consumer Spending Habits Amid New Normal

indie
4 minutes

HONG KONG, May 3, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Limited ("AEON Credit Service" or the "Group"; stock code: 00900) launched its brand-new AEON CARD WAKUWAKU on 1 May 2022, marking the introduction of the Group's first CashBack credit card geared towards fans of online shopping, as part of its efforts to expand its customer base and capitalise on the growing trend of digital transactions and online shopping. The Group has also signed popular Hong Kong singer Jace Chan to act as an endorser of the newly launched credit card.AEON Credit Service launches brand-new and first CashBack credit card AEON CARD WAKU WAKUThe AEON CARD WAKUWAKU, debuted as the Group's hero product this year, targets online shopping fans and the younger generation with an array of attractive rewards and offers. Boasting simple CashBack functionality, a colourful physical appearance complemented by a fun and original character mascot "MUK MUK LUK", the brand-new credit card has been designed to gear towards younger customers in alignment with the Group's plans to broaden its market reach to new target groups. The Group has also engaged Jace Chan as an endorser of the AEON CAR...

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AEON Credit (00900) FY2021 Profit Up by 13.6% to HK$342.6 Million

indie
4 minutes

HONG KONG, Apr 6, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its annual results for the year ended 28 February 2022 ("FY2021"). For FY2021, the Group's revenue reached HK$1,049.6 million (FY2020: HK$1,089.9 million) and profit increased by 13.6% year-on-year to HK$342.6 million. Earnings per share increased to 81.81 HK cents (FY2020: 72.02 HK cents). The Board has recommended a final dividend of 22.0 HK cents per share, bringing the total dividend for the year to 44.0 HK cents per share, representing a dividend payout ratio of 53.8%.The profit growth was owed to the Group's efforts in building a quality credit portfolio with improved credit assessment techniques and enhancing debt management capabilities, which led to a significant 55.4% drop in impairment losses and impairment allowances to HK$94.1 million. With an increase in credit card sales and launch of the Off-us Acquiring Service for AEON Stores, the Group recorded an overall increase in fees and commissions of HK$26.4 million to HK$103.4 million for the year, which also contributed to the profit growth. To overcome h...

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AEON Credit Service Launches Various Credit Card Offers Joins Hands with Customers to Fight Pandemic and Welcome Chinese New Year Peak Shopping Season

indie
3 minutes

HONG KONG, Jan 18, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Limited ("AEON Credit Service" or the "Group"; stock code: 00900) has launched a number of credit card offers to help customers cope with the new wave of the pandemic as well as welcome the traditional Chinese New Year shopping season.AEON Credit Service has always put customers first and is committed to providing the most suitable offers to ensure a superior user experience. In light of the outbreak of the fifth wave of the pandemic and the approach of the Chinese New Year shopping season, the Group has decided to launch special offers for local food & beverage and overseas purchases in Japan both online and offline made with AEON credit cards, allowing customers to enjoy up to 10X bonus points*, equivalent to 4% cash rebate, for shopping and eating comfortably at home with peace of mind amid the tightening of social distancing measures. In addition, AEON credit card customers can earn extra bonus points when making purchases at AEON Stores. Details of these offers are listed below:Up to 10X Bonus Points for Local Dining and Online ShoppingFrom 11 January to 10 July 2022, AEON credit card c...

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AEON Credit Announces Net Profit For the First Nine Months of FY2021/22 Up by 5.6% to HK$243.3 Million Through Successful Promotion Programs and Healthy Credit Portfolio

indie
4 minutes

HONG KONG, Dec 23, 2021 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; HKEX: 00900) announced today its unaudited results for the nine months ended 30 November 2021 ("nine months of FY2021/22"). Despite the unprecedented headwinds from the pandemic, the launch of various promotion programs to capture recovering credit card spending, resulted in sales for the nine months of FY2021/22 increasing by 21.0% year-on-year. However, this surge in credit card sales had yet to start pushing revolving credit card balances and personal loan receivables back up to pre-pandemic level. As a result, revenue was down 8.3% year-on-year to HK$770.3 million. Nonetheless, due to continuous efforts to refine its credit assessment process, the Group has built a healthy credit portfolio. With the economic situation and the unemployment rate continuing to improve, along with the Group's debt management efforts to reduce overdue advances and receivables proving effective, impairment losses and impairment allowances significantly dropped 63.4% year-on-year to HK$65.0 million. Consequently, the Group's profit after tax rose to HK$243.3 million, r...

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AEON Credit Service Launches Series of Targeted Credit Card Offers to Extend Consumption Voucher Impact, Adding to Excitement of Traditional Consumption Peak Season

indie
3 minutes

HONG KONG, Nov 10, 2021 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit Service" or the "Group"; stock code: 00900) has announced the launch of a series of AEON credit card offers aimed to extend the impact of the government consumption voucher, for greater enjoyment of the traditional consumption peak season between Christmas and Chinese New Year.Always putting customers first, AEON Credit Service constantly provides customers with the most suitable offers so as to create the best experience for them. The recent well-received AEON x Ocean Park General Admission Promotion has allowed the Group to better understand customer needs and behaviour. In view of the positive consumer sentiment boosted by the Consumption Voucher Scheme in Hong Kong and the approaching traditional consumer spending peak season during Christmas and Chinese New Year, the Group has seized the strong momentum embarking on the following targeted credit card promotion offers to capture business opportunities:1) Online Spending and Local Dining 10X Rewards PromotionAs demand for online shopping and catering services increases, AEON credit card hopes to stimulate greater...

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AEON Credit 1H2021 Net Profit Up by 13.1% to HK$172.3 Million

indie
4 minutes

HONG KONG, Sep 28, 2021 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) announced today its interim results for the six months ended 31 August 2021 ("1H2021"). Although the market remained generally uncertain in 1H2021, with the Group resuming marketing activities for AEON credit cards whilst increasing the frequency and scale of mass promotions, overall sales increased by 22.4% year-on-year. However, the increase in sales mainly resulted in progressive growth of receivable balances in the second quarter, leading to lower monthly revolving credit card balances and personal loan balances in the first half. As a result, revenue was down by 10.9% year-on-year to HK$511.6 million. Nonetheless, with relentless effort to refine credit assessment, the Group now has a better quality portfolio. Furthermore, with expectation of an improving economy and lower unemployment rate, and thanks to the Group's effective collection efforts to reduce overdue advances and receivables, impairment losses and impairment allowances decreased markedly. Consequently, the Group's profit after tax increased by 13.1% to HK$172.3 m...

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AEON Credit Proposes Final Dividend of 18 HK Cents for FY2020 amid Solid Fundamentals

indie
5 minutes

HONG KONG, Apr 8, 2021 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) has announced today its annual results for the year ended 28 February 2021 ("FY2020"). During FY2020, the change of consumer behavior to online shopping and indoor activities has prompted the Group to accelerate its digital transformation through the continued upgrade of mobile applications and dedicating more resources to online merchant marketing promotions. The Group has also continued with the development of the new card and loan system to prepare for further technological upgrades in the payment industry. Sales in the fourth quarter started to pick up due to the launch of personalized marketing promotions. Facing an exceptionally uncertain market environment during FY2020, the Group's revenue was HK$1,089.9 million, with profit after tax amounting to HK$301.6 million. Earnings per share were 72.02 HK cents. The Group's capital base remained strong with total equity up 3.3% to HK$3,422.0 million as at 28 February 2021.In view of the sound fundamentals of the Group, the Board has recommended a final dividend of 18.0 HK cents per...