The two sides officially announced the establishment of the joint venture (JV) on July 31. The JV will focus on developing and operating a chain of premium cinemas under the AEON Beta Cinema brand, investing in film production, and distributing Vietnamese, Japanese, and international films in the Vietnamese market.

With 50 premium cinemas in the pipeline, AEON Beta Cinemas will be present across Vietnam. The first AEON Beta Cinema is expected to open in 2025.

The joint venture also aims to foray into Vietnamese film production and distribution under the AEON Beta brand.

Beta Cinemas is the leader in the mid-market segment with the most substantial growth potential in the market. The chain has 20 Beta Cinemas across the country.

Meanwhile, AEON Entertainment, a subsidiary of AEON Group and established in 1991, currently operates 96 cinemas, making it the largest chain in Japan.

Nobuyuki Fujiwara, chairman of AEON Entertainment, shared that Beta Media is the perfect partner due to their in-depth understanding of the Vietnamese market, superior marketing knowledge, and strong local network.

“We look forward to leveraging the strengths of both companies to bring the best entertainment and film-watching experience to Vietnamese customers,” Fujiwara noted.

Fujiwara was also upbeat about the outlook for Vietnam's film industry, which will continue to grow, and sees substantial opportunities for Japan to contribute. Currently, Vietnam is the primary focus of AEON Entertainment’s investments.

In the same vein, Minh Bui, chairman of Beta Group, emphasised, "This joint venture is the fruitful result of a shared vision, aspirations, and core values to bring new experiences and sustainable values to the community. The combination of AEON Entertainment, with its strong capabilities and extensive experience in the film industry, and Beta Media, with its local insights and innovative capabilities, will create groundbreaking development opportunities for both sides."