Taseco Airs completes acquisition of Japanese airport duty-free chain

With the transfer of JDV, Taseco Airs will add the airport duty-free business line, contributing to strengthening the Company's non-aviation service value chain.

JDV is a limited liability company established in a joint venture between Taseco and Japanese partner Jalux to trade duty-free goods since 2015. It is known that two of Jalux's major shareholders are SOJITZ Corporation (a leading multi-industry corporation in Japan, operating mainly in the fields of aviation, energy, chemicals, retail, information technology, etc.) and Japan Airlines (Japan's national airline).

Accordingly, Jalux is a Japanese enterprise with strengths in the retail and duty-free business sector with a system of 87 stores at 27 airports, along with 18 member and affiliated companies in Japan and internationally.

Currently, JDV Company's charter capital is 36.55 billion VND, of which Jalux holds 51% of the charter capital, and AST holds 49% (all capital transferred by Taseco Company). JDV is currently operating 5 duty-free stores, including 3 stores in the departure and arrival isolation areas of Noi Bai International Airport Terminal and 2 duty-free stores in the departure isolation area, Da Nang International Airport Terminal.

Duty-free business is one of the special business lines in Vietnam, when the number of licensed companies is relatively small, besides JDV, there are a few other companies such as: Sasco (Tan Son Nhat), Nasco (Noi Bai), Lotte (Da Nang), ...

According to the 2018 business plan, JDV Company sets a target of 230 billion in revenue and 36.5 billion VND in after-tax profit.

With its strengths in system, business locations at many airports across the country and its centralized management capacity, AST becoming a joint venture partner with the Japanese Jalux Group at JDV Duty Free Joint Venture Company Limited is a driving force for JDV to develop and expand its market in the coming time. In addition, AST also completes its service chain in the field of non-aviation service business, bringing more business efficiency to AST in 2018 as well as the following years.

According to information from Taseco Airs, the business results for the first 9 months of 2018 are estimated to reach VND 660 billion in revenue and VND 134.8 billion in after-tax profit, reaching 84% of the yearly plan.

According to cafef.vn