FamilyMart will join the two other major Japanese convenience store chain operators conducting business in China by assuming control over a network of 25 outlets in Shanghai on Friday. FamilyMart and Tinghsin Group, a major local food processor that manages convenience stores, have established a joint venture to oversee operations there. FamilyMart's competitors - Lawson and Seven-Eleven Japan have already moved into China, with Lawson operating in Shanghai and market leader Seven-Eleven Japan doing business in Beijing. FamilyMart intends to double the initial network of 25 stores to 50 by the end of the year and expand to 300 by the end of 2007 with annual sales of 13bn yen.

NamNews - Wednesday 14th July 2004

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