TOKYO (Standard&Poor's) July 18, 2008--Standard&Poor's Ratings Services today affirmed its 'A-' long-term corporate credit and senior unsecured debt ratings on Aeon Co. Ltd. The affirmation reflects the major retailer's decision to shift its focus from the expansion of the group's revenue bases to the consolidation and reorganization of businesses within the group, amid an increasingly difficult business environment that is pressuring the company's revenues and profits. The outlook on the long-term rating on the company remains stable. In the face of sluggish consumption and intensifying competition, Aeon has also been focusing its management resources on strategically important business areas in an effort to improve revenues. Furthermore, in its recently announced medium-term management plan, the company revealed
