Japanese convenience store operator FamilyMart has said it plans to open its first store in China in Shanghai in June through a joint venture called Shanghai FamilyMart.
The joint venture, formed with Japan’s Itochu Corp, FamilyMart’s Taiwan unit and two Chinese companies, aims to open 300 stores in China over a three-year period, reported Reuters.
FamilyMart operates around 6,200 stores in Japan, as well as around 4,000 franchised stores in South Korea, Taiwan and Thailand.
FamilyMart is Japan’s third-largest convenience store operator after Seven-Eleven Japan and Lawson. Seven-Eleven Japan has said it plans to open its first Chinese store in Beijing this month, while Lawson already operates stores in Shanghai.