Japanese convenience retailer Lawson has confirmed that it will be taking over local discount store operator Ninety-nine Plus.
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Lawson, which has over 8000 such stores in Japan, said it is determined to expand despite the difficulties facing convenience store expansion and is aggressively going after Japan’s ageing demographic.
“With this purchase we hope to intensify competition to secure our high-ranking position in the convenience store industry,” a Lawson spokesman told just-food.
“The purchase is part of our policy to actively court middle-aged people, especially housewives. Considering Japan’s low birthrate and rapidly ageing population targeting the customers which Ninety-nine Plus has in droves will help our growth and for us is the most important task at present.”
Lawson, which already owns 34.6% of Ninety-nine Plus, has struck a deal to buy a 30% stake in the business owned by printed circuit board maker Kyoden Co. for around JPY3.98bn (US$38m).
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By GlobalDataLawson and Ninety-nine Plus had already been working together on a capital and business alliance. Ninety-nine Plus were helping consolidate Lawson’s discount chain Lawson Store 100 and Ninety-nine Plus’s “Shop 99” into a single chain, while also working together on product development and purchasing.
