Naoya Okada, 40, joins ranks of New Gen of Family controlled conglomerates in S.E. Asia

March 14, 2024


Naoya Okada will be the new MD of listed AEON Co. (M) Bhd with effect from 1 March 2024. He is currently Deputy MD. This will be the first time since AEON set foot in Malaysia in September 1984 that a family member of the Okada clan is taking the top reins of the business here. Naoya Okada joins the New Generation of family controlled businesses in Malaysia and Asia which are rising as an elite group of 21st century leaders of the corporate scene. 

Naoya graduated with a Bachelor of Laws degree from Keio University, one of the prestigious private universities in Japan with a 160 year history. He also holds a Master's degree in International Public Policy and Management, University of Southern California, USA. He worked in investment banking for 7 years before joining the family controlled AEON Co. in Japan in 2015. His father, Motoya Okada (70), is Chairman/CEO. AEON Japan is undergoing organisational changes to realign its strategy in the AI era. Motoya Okada is credited with making AEON one of the biggest retailers by revenue when he became President of AEON in 1997. AEON Co. is listed on the Tokyo Stock Exchange and operates more than 20,000 stores across 15 countries.

Before coming to Malaysia in July 2022, Naoya Okada was MD (2019-mid-2022) of Bio c 'Bon, a specialty supermarket business in Japan (JV between AEON and French investor Marne & Finance Europe which runs the Paris Bio c'Bon organic supermarket chain).

For FYE 31 Dec 2022 Aeon Co. (M) Berhad reported revenues of RM4.1 billion and pre-tax profit of RM111.2 million. Its unaudited FY2023 consolidated results show a revenue of RM4.13 billion and net income of RM114.8 million. AEON Malaysia has 177 outlets - 41 Daiso, 28 Aeon malls, 35 AEON stores, 8 AEON MaxValu, 62 AEON Wellness, 3 Komai-so. It has 2.4 million loyalty card members.

In 1984 AEON came at the invitation of the then Prime Minister, Tun Mahathir, to set up Jaya Jusco Stores in Malaysia. The name change to AEON took place in September 2004. AEON comes from a Latin root word that translates to eternity, an aspiration of the Okada family that the business continues from generation to generation. Motoya Okada, eldest son of Takuya Okada (Honorary Chairman of AEON Co Ltd) is credited with making AEON a major retailer in Japan and Asia with his aggressive expansion plans since he became President of AEON Co in 1997. In March 2020, he handed the President's role to Akio Yoshida, then Executive VP of AEON Co to lead swift changes in the digital era. 


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