Japan: FamilyMart plans 10% growth each year
International divisions will double their earnings contribution to 20 percent by February 2016 from about 10 percent now as more overseas units become profitable, Chief Financial Officer Yoshiki Miyamoto said in a Dec. 14 interview. The Tokyo-based company had net income of 16.6 billion yen in the 12 months ended February.
The store operator has opened more outlets abroad than in Japan as a shrinking population at home reduces demand. FamilyMart has 9,201 stores in Japan and 12,549 overseas as of November and plans to almost double its shop network to 40,000 globally in 2021, according to the company website.
“There is a big impact when an unprofitable business turns profitable,” Miyamoto said. Thailand is now in profit, while China may make money next year, he said.
FamilyMart is considering entering the Russia market and open at least 300 to 500 stores, Miyamoto said, without specifying when the company plans to operate in the country.
Source: bloomberg.com
