AEON said on 8 January it would launch a tender offer at ¥1,280 a share for all the shares it did not already own in Sunday, a Tokyo-listed home-centre operator in which it held 76.70%.
Why AEON Co., Ltd. is buying Sunday Co., Ltd.
Ryutsu News reported that AEON wants to end the parent-subsidiary listing to accelerate reform in Tohoku, where higher labour and energy costs and thrifty consumers have weighed on results. After the deal Sunday will work with AEON Tohoku on a new store format combining general merchandise stores and home centres, open outlets inside AEON stores and unify purchasing.
Deal terms and financing
The ¥1,280 price represents a premium of 26.11% to Sunday's close of ¥1,015 on 7 January and 28.39% to its three-month average. AEON set no minimum or maximum number of shares, as its existing stake already exceeded the two-thirds needed to approve a share consolidation. Total consideration would be ¥3,222m if all 2,517,495 shares were tendered. AEON's initial proposal in December 2025 was ¥1,050.
Regulatory approvals and timing
The offer ran from 9 January to 4 March 2026. According to Nihon M&A Center, 2,099,229 shares were tendered and AEON acquired them all, with Sunday expected to be delisted after squeeze-out procedures.
Market context
Sunday, founded in 1975 and based in Hachinohe, Aomori, runs about 105 home centres and pet shops across the six Tohoku prefectures. It reported sales of ¥46.4bn and an operating loss of ¥303m for the year to February 2025, according to Ryutsu News. AEON first took a 20.01% stake in 2003 under a business and capital alliance.
