Japanese retailer FamilyMart has indicated that it will focus its Asian operations outside of Japan on China and Vietnam.

The company’s president, Junji Ueda, said that with domestic growth now stagnant the group would develop its Chinese and Vietnamese businesses.

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Sales in Vietnam, where the group currently operates one store, have been 2.5 times what the company had anticipated, he added.

The group plans to open five more stores in Ho Chi Minh City this year and expand its Vietnamese network to cover 300 stores in five years. FamilyMart has now established a network of 371 stores in China.

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