Aeon Co., Ltd. and Keisei Electric Railway Co., Ltd. (hereafter, Keisei Electric Railway) have agreed to a business partnership to enhance local living by leveraging their respective assets and expertise. To establish a stable, trustworthy relationship, both companies have decided on a capital partnership involving mutual stock holdings and signed the partnership agreement today.

1. Purpose and Reason for the Partnership

Aeon operates 657 locations in the region extending from eastern Tokyo through Chiba to Narita, offering a wide range of services, including retail, service, development, and finance. Keisei Electric Railway, as a “comprehensive lifestyle company,” operates in sectors such as transportation (railways and buses), distribution, real estate, leisure, services, and construction.

In this region, Aeon aims to leverage its extensive know-how in managing commercial facilities by opening stores on Keisei’s properties, thereby creating better living environments and contributing to the community. Meanwhile, Keisei Electric Railway is working toward “sustainable urban development” by revitalizing the area along its railway lines through asset renewal and redevelopment.

Both companies, headquartered in Chiba Prefecture, serve the same community with different infrastructures. By combining their assets and expertise, they aim to contribute to local revitalization through community-based urban development. Aeon’s commercial facilities not only enhance daily convenience but also serve as hubs for culture, entertainment, community building, employment, economic benefits, and tourism. By integrating Keisei’s transportation services, such as railways, buses, taxis, hotels, and leisure facilities, this partnership will broaden the appeal of the region.

Moving forward, both companies will maximize synergies to bring vibrancy to the local community, enriching the lives of its residents.

2. Partnership Details

(1) Areas of Business Collaboration

A. Partnership Initiatives
Under this agreement, Aeon and Keisei Electric Railway have identified several areas for collaboration, with specific actions and timelines to be discussed and decided jointly:

1. Collaboration in Development and Real Estate

   • Both companies will share real estate information to explore collaborative urban development, including store openings by Aeon’s various business units.
   • Joint development and management (e.g., leasing) of commercial facilities and stations by both companies.

2. Additional Collaborative Areas

   • Retail Business: Aeon will collaborate with Keisei’s Keisei Store Co., Ltd., to enhance store appeal through improved product selection and services, benefiting local customers.
   • Transportation Services: The companies will work together to enhance transportation services that improve accessibility to Aeon’s existing and new commercial facilities.
   • Financial Services: Aeon will explore integrating its payment and loyalty points systems with Keisei’s services to offer added value to customers.
   • Enhancing Facility Value: To increase the mutual utilization of facilities, both companies will conduct joint promotions and events utilizing each other’s assets and media.

First Initiative Under the Partnership

The first initiative under this partnership will focus on transforming the area around Shin-Tsudanuma Station into a new landmark. Keisei Group will revamp and renew the facilities surrounding “Tsudanuma 12-Ban-gai Building” located south of Shin-Tsudanuma Station, owned by Shin-Keisei Electric Railway Co., Ltd. Meanwhile, Aeon Mall Tsudanuma, currently operating north of the station, will be managed by Aeon Retail Co., Ltd., in an integrated manner with these facilities to enhance their overall value.

This development will create a new point of interest and revitalization centered around Shin-Tsudanuma Station, establishing it as a hub for interaction and community activity. The plan includes making the area more walkable and attractive for various age groups, from Generation MZ (10s to 30s) to families and seniors.

The new facility will feature daily necessities, specialty foods, restaurants, event halls that can be used as live performance spaces, and entertainment facilities like Aeon Cinema, creating a comprehensive shopping and entertainment center. By connecting the two buildings and defining distinct roles for each, the development will serve as a nucleus of commerce and a new landmark for Tsudanuma, contributing to the community.

Through these joint efforts, Aeon and Keisei Electric Railway are committed to contributing to community development and enhancing the appeal of the area.

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Keisei Electric Railway Co., Ltd. is a major railway operator primarily serving Chiba Prefecture and eastern Tokyo, where it holds a strong presence. Its railway network includes the Narita Airport Line, which provides access to Narita Airport, as well as the Keisei Main Line, which connects major cities like Chiba, Funabashi, and Matsudo. This network plays an essential role as a transportation option for both local residents and tourists.

Additionally, Keisei Electric Railway is one of the principal shareholders of Oriental Land Co., Ltd., holding a 21.15% stake as of March 31, 2024. Oriental Land is well-known as the operator of Tokyo Disney Resort. Through this capital relationship, Keisei Electric Railway enhances access to Tokyo Disney Resort and leverages related tourism demand, further strengthening its position in the region.

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Source:Press Release Aeon October 31th 2024