Aeon has announced it will acquire almost all of the shares of Marunaka and Sanyo Marunaka and make them consolidated subsidiaries. While Aeon's recent investments, including its acquisitions of Marunaka and Sanyo Marunaka, will boost its market position, its financial risk profile will deteriorate. Standard&Poor's revised its outlook on Aeon to negative from stable. We affirmed the ratings on Aeon. TOKYO (Standard&Poor's) Oct. 6, 2011--Standard&Poor's Ratings Services today revised its outlook on Aeon Co. Ltd. to negative from stable following Aeon's announcement on Oct. 5 that it will acquire almost all of the shares of Marunaka Co. Ltd. (NR) and Sanyo Marunaka Co. Ltd. (NR) (collectively known as Marunaka group) for ¥44.9 billion and
