AEON Mall Co (8905) AI Stock Analysis

• Market Cap: ¥634.02B
• Dividend Yield: 1.79%
• Average Volume (3M): 562.97K
• Price to Earnings (P/E): 44.5
• Beta (1Y): 0.24
• Revenue Growth: 6.28%
• EPS Growth: -30.10%
• Country: JP
• Employees: 3,854
• Sector: Real Estate
• Sector Strength: 63
• Industry: Real Estate - Diversified
• EPS (TTM): 8.70
• Shares Outstanding: 227,578,230
• 10 Day Avg. Volume: 534,500
• 30 Day Avg. Volume: 562,966
• PEG Ratio: -0.96
• Price to Book (P/B): 0.92
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 464.51
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥2,292.53
• Price Target Upside: -16.94% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 69 Neutral
• Price Target: ―

AEON Mall Co's overall stock score reflects its solid revenue growth and operational efficiency. However, high leverage and declining profitability remain concerns. While the stock shows strong upward momentum, overvaluation and potential short-term corrections due to overbought indicators are risks. The absence of recent earnings call data and impactful corporate events does not alter the current assessment.

AEON Mall Co Business Overview & Revenue Model

Company Description

AEON Mall Co., Ltd. (8905) is a leading Japanese developer and operator of shopping malls. As part of the broader AEON Group, the company specializes in the design, development, and management of large-scale commercial facilities across Japan and other Asian countries, including China and Vietnam. AEON Mall Co. aims to provide comprehensive lifestyle destinations that cater to the diverse needs of consumers by integrating retail, dining, entertainment, and community services within their properties.

How the Company Makes Money

AEON Mall Co. generates revenue primarily through leasing retail space to a wide variety of tenants, including international and domestic brands spanning fashion, electronics, groceries, and entertainment sectors. The company charges tenants rent based on fixed monthly fees as well as variable charges tied to sales performance. Additionally, AEON Mall Co. earns income from service fees related to facility management and operations, such as parking and utility services. Strategic partnerships with retailers and property investors, as well as the expansion of mall locations in high-growth markets, significantly contribute to the company's earnings. AEON Mall Co. also benefits from economies of scale and efficient management practices that help optimize operational costs and enhance profitability.

AEON Mall Co Financial Statement Overview

Summary

AEON Mall Co shows strong revenue growth and operational efficiency, but faces challenges such as declining profitability and high leverage. The stable financial position is highlighted by an improved equity ratio, despite a significant drop in free cash flow.

Income Statement

AEON Mall Co has shown consistent revenue growth over the past years, with a notable revenue growth rate of 6.28% from 2024 to 2025. The gross profit margin stands at 19.63% for 2025, indicating efficient cost management, although it decreased slightly from previous years. Net profit margin was 3.17% in 2025, compared to 4.82% in 2024, indicating a decline in profitability. The EBIT margin improved to 11.59% from 10.97%, demonstrating stable operational efficiency. However, the EBITDA margin dropped slightly, suggesting increased operating expenses or reduced operational efficiency.

Balance Sheet

The debt-to-equity ratio is high at 1.64, indicating significant leverage, which could pose financial risk in adverse conditions. The return on equity (ROE) decreased to 2.86% from 4.39%, reflecting lower profitability relative to shareholder equity. However, the equity ratio improved to 30.00%, suggesting a stable financial position with an increasing proportion of equity funding.

Cash Flow

The free cash flow decreased significantly by 30.31%, indicating potential liquidity challenges. The operating cash flow to net income ratio was 7.17, suggesting strong cash generation relative to net income, which is favorable. The free cash flow to net income ratio was 1.02, reflecting that free cash generated is almost equal to net income, indicating efficient cash management.

Breakdown
Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement		Total Revenue
449.75B	423.17B	398.24B	316.81B	280.69B
	Gross Profit
88.30B	81.18B	75.42B	67.93B	61.76B
	EBIT
52.15B	46.41B	43.98B	38.23B	34.39B
	EBITDA
120.19B	122.96B	114.40B	101.96B	92.98B
	Net Income Common Stockholders
14.26B	20.40B	12.99B	19.28B	-1.86B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
90.70B	129.91B	92.68B	87.15B	131.44B
	Total Assets
1.66T	1.66T	1.56T	1.46T	1.39T
	Total Debt
816.08B	860.31B	817.40B	763.67B	710.43B
	Net Debt
751.39B	770.39B	724.71B	676.52B	578.99B
	Total Liabilities
1.15T	1.18T	1.11T	1.04T	1.01T
	Stockholders Equity
498.98B	464.33B	440.52B	416.49B	377.34B
Cash Flow		Free Cash Flow
14.61B	20.96B	871.00M	-57.45B	3.09B
	Operating Cash Flow
102.28B	126.31B	101.49B	61.49B	61.62B
	Investing Cash Flow
-96.58B	-101.74B	-103.28B	-122.38B	-64.44B
	Financing Cash Flow
-64.79B	-12.85B	13.52B	8.22B	12.24B

AEON Mall Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2760.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8905, the sentiment is Positive. The current price of 2760 is below the 20-day moving average (MA) of 2812.45, above the 50-day MA of 2678.58, and above the 200-day MA of 2197.78, indicating a neutral trend. The MACD of 27.47 indicates Positive momentum. The RSI at 48.28 is Neutral, neither overbought nor oversold. The STOCH value of 10.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8905.

AEON Mall Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3288	80 Outperform	$749.82B	8.28	18.00%	2.59%	10.51%	-9.28%
3289	78 Outperform	$750.61B	9.60	9.70%	3.26%	4.28%	12.70%
8801	71 Outperform	$3.79T	15.31	7.82%	2.19%	10.16%	11.31%
8802	71 Outperform	¥3.31T	17.85	7.53%	1.63%	4.99%	14.16%
1878	71 Outperform	$1.07T	11.03	21.32%	5.42%	6.40%	28.80%
8905	69 Neutral	¥634.02B	44.46	2.92%	1.79%	6.28%	-30.10%
Sector *	61 Neutral	$2.86B	10.96	0.41%	6.08%	5.73%	-21.25%

AEON Mall Co Corporate Events

AEON Mall Co., Ltd. Emphasizes Autonomous Management and Governance

AEON Mall Co., Ltd. has outlined its relationship with its parent company, AEON Co., Ltd., emphasizing its autonomous management approach within the Aeon Group. The company ensures independence and fairness in transactions with its parent and group companies through established governance structures, including a Governance Committee and a Nomination and Compensation Committee, to protect minority shareholders and enhance corporate value.

The most recent analyst rating on (JP:8905) stock is a Buy with a Yen2300.00 price target. To see the full list of analyst forecasts on AEON Mall Co stock, see the JP:8905 Stock Forecast page.

AEON MALL to Cancel Treasury Stock Ahead of AEON Co. Acquisition

AEON MALL Co., Ltd. has announced the cancellation of its treasury stock as part of a strategic move to become a wholly owned subsidiary of AEON Co., Ltd. This decision follows a share exchange agreement that requires AEON MALL to cancel all its treasury stock before AEON Co., Ltd. acquires all issued and outstanding shares, excluding those already owned by AEON. The cancellation is scheduled for July 1, 2025, and is a critical step in streamlining the ownership structure, potentially impacting stakeholders by solidifying AEON’s control over AEON MALL.

The most recent analyst rating on (JP:8905) stock is a Buy with a Yen2300.00 price target. To see the full list of analyst forecasts on AEON Mall Co stock, see the JP:8905 Stock Forecast page.

AEON MALL Sets Stock Option Issuance Price Amid Transition

AEON MALL Co., Ltd. has announced the issuance price for performance-linked stock options for its directors and executive officers for fiscal 2024. This move is part of the company’s transition to becoming a wholly owned subsidiary of AEON Co., Ltd. through a share exchange. The board has resolved to acquire all unexercised stock acquisition rights without compensation by June 30, 2025, to facilitate this transition, potentially impacting the company’s governance and alignment with AEON Co., Ltd.’s strategic goals.

AEON MALL Issues Performance-Linked Stock Options Amid Subsidiary Transition

AEON MALL Co., Ltd. announced the issuance of performance-linked stock options to align directors’ and executive officers’ interests with shareholders by linking compensation to corporate earnings and share price performance. This move is part of a broader strategy as AEON MALL prepares to become a wholly owned subsidiary of AEON Co., Ltd., which involves acquiring and canceling unexercised stock acquisition rights by June 30, 2025, ahead of a scheduled share exchange.

AEON Co. to Acquire Full Ownership of AEON Mall

AEON Co., Ltd. has announced a share exchange agreement to make AEON Mall Co., Ltd. a wholly owned subsidiary, effective July 1, 2025. This strategic move aims to enhance the corporate value of both entities by leveraging AEON Mall’s expertise and AEON Group’s resources, expanding business opportunities, and driving growth in the developer business through integrated development strategies.

AEON Mall Co., Ltd. Announces Restructuring and Delisting Plans

AEON Mall Co., Ltd. has announced a significant corporate restructuring, with plans to become a wholly owned subsidiary of AEON Co., Ltd. through a share exchange, leading to its delisting from the Tokyo Stock Exchange by June 2025. The company also proposed candidates for director positions, which will be voted on at the upcoming shareholders’ meeting, indicating a strategic realignment that could impact its governance and operational focus.

AEON Mall Ends Shareholder Benefits Amid Structural Changes

AEON Mall Co., Ltd. announced the termination of its shareholder benefit program following a resolution to become a wholly owned subsidiary of AEON Co., Ltd. through a share exchange agreement. This strategic move is expected to streamline operations and align the company’s interests more closely with its parent company, potentially impacting shareholder relations and benefits.

AEON Mall Reports Financial Results and Announces Delisting

AEON Mall Co., Ltd. reported its consolidated financial results for the fiscal year ending February 28, 2025, showing a 6.3% increase in operating revenue to ¥449,753 million and a 12.4% rise in operating income to ¥52,146 million. However, the net income attributable to owners of the parent decreased by 30.1% to ¥14,260 million. The company announced that it will become a wholly owned subsidiary of AEON Co., Ltd. through a share exchange, leading to its delisting from the Tokyo Stock Exchange on June 27, 2025. This strategic move is expected to streamline operations and strengthen its market positioning within the AEON Group.