Nikkei Asia shared that as the Japanese market matures and leaves little space for more theaters, the Aeon subsidiary is looking overseas to a country where it has strength as a distributor of Japanese anime movies.

The move marks the company’s expansion into the Vietnamese market through a series of joint venture with local company Beta Media.

Beta Media, part of the Beta Group ecosystem, was founded in 2014, with a specific focus on developing mid-range cinemas. Currently, it operates 20 cinema complexes and is the fourth-largest player in the local cinema market, behind CGV, Lotte Cinema, and Galaxy.

Aeon Entertainment’s first cinema is expected to be located in the southern region and will cover an area of 4,000 to 5,000 square metres. It will be larger than the typical cinema of Aeon Entertainment in Japan.

According to Nikkei Asia, Aeon Entertainment aims to make its first cinema in Vietnam profitable within three years.

The Japanese side also anticipates that it will increase the number of cinemas to 21 by 2030, with some locations outside of shopping malls, while cinemas within shopping centres will be operated by Aeon Mall.

Most notably, Vietnam is the first international market that Aeon Entertainment wants to expand its business market into.

Aeon Entertainment is the largest cinema operator in Japan. Over the past several years, the company invests around JPY3 billion, equal to US$20 million, annually to improve existing facilities and open smaller cinemas.

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