Tully’s Coffee Japan Co, a subsidiary of Seattle-based Tully’s Coffee Corp, revealed yesterday [Thursday] that it would be increasing its speciality coffee shop chain from 40 to 100 outlets during the next business year.
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At least ten of these new stores would be opened by the 31 March this year, the end of the current fiscal year.
The company also revealed that it may carry out a share split in 2002/03; “that’s something we want to give serious thought to for the next business year,” president Kouta Matsuda told journalists. Currently, each Tully’s Coffee Japan share is worth nine times that of its main competitor Starbucks Coffee Japan.
Starbucks Coffee Japan, a subsidiary of the other Seattle-based coffee giant Starbucks Corp, has also said that it plans to expand its own chain from 326 to 500 outlets by the end of March 2004.
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By GlobalData
