UK retailer Tesco has played down rumours that it is considering various ways of expanding its Japanese business.
According to reports, Tesco is considering ways that it can grow its Japanese food retail business organically. The group is also rumoured to be considering expansion through acquisition.
“While we are always looking at ways to improve and expand our business in Japan there is no concrete update on our plans,” a spokesperson for the retailer told just-food.
Tesco entered Japan through its 2003 acquisition of the C Two-Network. The company then entered the hypermarket sector through the acquisition of a discount supermarket operator specialising in packaged groceries.
Since then, Tesco has struck a number of deals, including Fre’c stores and Tanekin outlets, taking its network to 109 shops.