FamilyMart, ITOCHU, and SIAL, a joint venture firm between Ayala Group and Rustan Group, concluded a joint venture contract for starting FamilyMart business in the Philippines
November 6, 2012
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it concluded a joint venture contract on November 5, 2012 (Mon) with FamilyMart Co., Ltd. (hereinafter “FamilyMart”), and SIAL CVS Retailers, Inc. (hereinafter “SIAL”), a joint venture firm between Ayala Group and Rustan Group, for the development and operation of FamilyMart convenience stores in the Republic of the Philippines (hereinafter “the Philippines”).
SIAL is a joint venture firm between Ayala Group, the Philippines’ largest conglomerate with a wide-ranging portfolio that includes banking, real estate development, telecommunications, electronics, and water processing, and Rustan Group, one of the leading retail firms in the Philippines. This collaborative initiative with Ayala Group and Rustan Group, both pre-eminent groups that enjoy a high level of trust in the Philippines, will enable FamilyMart and ITOCHU to share the Ayala Group’s extensive knowledge of store properties and store development know-, as well as Rustan Group’s retailing industry know-how in the Philippines, thereby establishing store operation with stronger foundation in the Philippines, achieving faster store expansion.
Further, in December, FamilyMart, ITOCHU, and SIAL are planning to establish Philippine FamilyMart CVS, Inc. (hereinafter “PFM”). After concluding an area franchise agreement between FamilyMart and PFM, PFM will start FamilyMart business in the Philippines.
|November 5, 2012||Concluded a joint venture contract among FamilyMart, ITOCHU, SIAL|
|December 2012 (planned)||Establish PFM and conclude an area franchise agreement between FamilyMart and PFM|
|February 2013 (planned)||Open the first store of FamilyMart storein the Philippines|
FamilyMart currently operates 9,100 stores in Japan and 12,260 stores overseas, a total of 21,360 stores.(as of September 30, 2012) Following on from Thailand, Vietnam, and Indonesia, this will be the fourth country in Southeast Asia where FamilyMart stores open. The company aims to reach 25,000 stores in Japan and overseas by 2015 and 40,000 by 2020.
FamilyMart aims to convey the friendly social affluence that is the essence of the Company by creating strong and deep ties with each individual customer.
Profile of Philippine FamilyMart CVS, Inc.
|Name of company||Philippine FamilyMart CVS, Inc.|
|Address||4th Floor ALCO Building, 391 Sen. Gil Puyat Avenue, Makati City, Philippines|
|Representative||Anthony T. Huang|
|Capital||277 million peso|
|Business||Operating FamilyMart convenience storein the Philippines|
|Percentage of share||
SIAL CVS Retailers, Inc.* 60%
FamilyMart Co., Ltd. 37%
ITOCHU Corporation 3%
- Percentage of Share of SIAL CVS Retailers, Inc.
|Company||Percentage of Share|
|Varejo Corp. (Investment company of Ayala Land)||50%|
|Specialty Investments, Inc. (Investment company of SSI)||50%|
Profile of Ayala Group
|Representative||Jamie Augusto Zobel de Ayala|
|Business||The Philippines’ largest conglomerate with a history of almost 180 years. Its wide-ranging interests include banking, real estate development, telecommunications, electronics, and water processing|
Profile of Ayala Land, Inc.
|Representative||Antonino T. Aquino|
|Number of employees||Approximately 1,300|
|Business||Core company ofAyala Group engaged in the development and lease of a wide range of real estate including residential, offices, shopping malls, hotels and resorts|
Profile of Rustan Group
One of the Philippines’ leading retail groups operating stores in a diverse range of formats including department store, hypermarket, supermarket, and specialty store, as well as being engaged in the operation of coffee shop chain.
Profile of Stores Specialists, Inc.
Zenaida R. Tantoco
|Number of employees||
|Business||Handling over 80 famous overseas brands including European, American, Japanese brands under license agreement and operates 300 stores in Philippines.|
Profile of FamilyMart Co., Ltd.
|Established||September 1, 1981|
|Address||3-1-1 Higashi-Ikebukuro, Toshima-ku, Tokyo|
|Representative||Junji Ueda, President & CEO|
|Number of stores||As of September 30, 2012|
|Region/area||Number of stores|
|FamilyMart Co., Ltd.||8,414|
|Okinawa FamilyMart Co., Ltd. (Okinawa)||214|
|MinamiKyushu FamilyMart Co., Ltd.(Miyazaki and Kagoshima)||294|
|Hokkaido FamilyMart Co., Ltd. (Hokkaido)||54|
|JR Kyushu Retail, Inc. (Note 1)||124|
|Domestic chain stores||9,100|
|China (Shanghai, Guangzhou, Suzhou, Hangzhou, Chengdu)||1,005|
|Overseas area franchising stores (Note 2)||12,260|
|Total in Japan and outside Japan||21,360|
(1) Fukuoka, Saga, Nagasaki, Kumamoto, and Oita
(2) The first store in Indonesia opened on October 16, 2010 (One store as of today).