The major rating factors for Jusco Co. Ltd. are as follows: A solid market position as the third-largest general merchandiser in Japan. Relatively stable earnings from a balanced product mix, despite increasing pressure caused by sluggish consumer spending. Expertise in forging tie-ups with prominent foreign retailers to develop shopping malls. A moderate financial policy, characterized by somewhat aggressive debt leverage. Jusco ranks third among Japan's six leading general merchandisers, with consolidated sales of ¥2.5 trillion in fiscal 1999 (ended Feb. 20, 2000). The parent company and its 148 affiliated companies together make up the Aeon Group. Superstore, supermarket, discount store, convenience store, and department stores operations currently account for around 80% of group sales. Aeon Group is also involved in
