In our business in China, we opened ÆON MALL Tianjin TEDA, our second facility in China, and the first mall in the Tianjin area to be built on the concept of two anchors per mall. Located in the Tianjin Economic-Technological Development Area (TEDA), one of China’s two major development zones, the surrounding area could soon be home to a booming population as residential development continues apace. In terms of access, the mall is easily accessible from downtown Tianjin via the Central Station of the “Jinbin Monorail,” and is within reach of numerous highways, linking it with Beijing and places further afield, making this a promising location in terms of potential new customers.

A new station was opened on December 31, 2010, completing a subway link between our first mall in China and the capital, Beijing. Combined with other factors such as an increased number of bus routes, improved transportation access brought in 10% more customers. This boost in customers led to a record increase in net sales of 50%, as of January 1, 2011, and 120% since then. Current initiatives include the replacement of specialty stores, as well as the conversion, within the next few years, of third-floor parking spaces into retail floor space.