Japan: Family Mart Plans Expansion into New Markets
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Monday, 23 January 2012 |
Family Mart plans to quickly expand into both Indonesia and the Philippines, according to Director of Overseas Operations Masaaki Kosaka (pictured). In an interview with Bloomberg, Kosaka said that the company plans to open 300 stores in each country by 2015 as it seeks to boost earnings from overseas operations to 20% of total group profits over the next four years.
Family Mart, Japan's largest convenience chain, has 8,697 stores in its home market and 10,782 franchise stores across Taiwan, South Korea, Thailand, the Unites States, Vietnam, Korea and China. The company earned 3.2bn yen (7.3% of total operating income) from overseas operations last year. By 2020, Family Mart plans to nearly treble its outlets outside Japan to 29,000 stores.
PetrolWorld 23012012
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