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Aeon's shareholder incentive program, which offers discounts of up to 7% at its stores, is popular with retail investors.
rose to an 11-year high of 2, 474 yen on Monday as retail investors snapped up the shares to secure special shareholder benefits such as store discounts ahead of a deadline the next day. Bic Stock Price
The stock closed 0.9% higher at 2,468.5 yen, rising for the seventh straight session.
Investors that purchase up until Tuesday the stock of certain companies with fiscal years ending in February or August are eligible to receive dividend payments and perks like store discounts. On Monday, Bic Stock Price
, which also offer sweeteners for shareholders, rose 5% and 2%, respectively.
Aeon shareholders can receive cards offering discounts of 3% to 7% depending on the amount of stock they own. The company boasts 710,000 retail investors thanks to this popular program.
Strong earnings have also boosted confidence in the stock. Consolidated operating profit for the year ending in February is expected to jump 14% to 240 billion yen ($2.16 billion) for a second straight record. Better earnings in the struggling hypermarket segment -- centered around huge stores that are part supermarket, part department store -- are a contributing factor.
Companies that are hunted for dividend payments or perks generally fall after the deadline since some investors sell after getting the rewards.
But "any drop in Aeon's share price will probably be temporary because its earnings are improving," said Tomoichiro Kubota of Matsui Securities.
Japan's Taisei hungry for global airport and infrastructure orders
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