Japanese convenience retailer Lawson Inc has confirmed reports COO Genichi Tamatsuka is to be promoted to the role of chief executive.
Effective as of 1 May, Tamatsuka will assume the position of CEO and president, replacing previous CEO Takeshi Niinami who will now become chairman of the company.
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Tamatsuka joined Lawson in 2010, having previously served at president of Fast Retailing Co.
In its most recent financial update, for the nine-month period to the end of December, Lawson booked an increase in profit,s driven by gains from its “efficient store-opening strategy”. Lawson opened 294 stores in Japan during the period, taking its estate to 11,270 outlets. It also opened 35 stores overseas, including its first in outlets in Beijing and in Thailand.
The company has, however, struggled with weak like-for-like sales exacerbated by declining tobacco revenue. As a result, operating revenue dipped 0.6% in the nine-month period. Lawson has responded by launching freshly-brewed coffee and investing in food ingredients to be prepared and eaten at home.
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