Tesco is planning to open 35 stores in Japan over the next 12 months.
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The company, the UK’s largest retailer, said today (19 April) that 25 of the outlets would be launched as Tesco Express stores.
A further 10 shops will be added to Tesco’s Tsurukame chain of stores, which are larger than Tesco’s planned convenience outlets.
A Tesco spokesman told just-food that the retailer wanted to tap into the desire among Japanese consumers to “shop little and often”.
The spokesman said: “The Japanese prefer convenience shopping. They shop every day and like very fresh, high-quality food.”
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By GlobalDataThe stores will be in and around Tokyo and will open during Tesco’s current financial year, which runs until February 2008.
The expansion in Japan is part of Tesco’s “focused and disciplined” approach to the company’s development internationally, the spokesman added. “We’ve always been careful not to go round planting flags.”
Earlier this week, Tesco said that sales in Asia grew by 13.5% on a constant currency basis last year. Tesco’s earnings in the region jumped almost 19%.
On a group basis, Tesco posted underlying profits of GBP2.6bn (US$5.2bn) for the 12 months to 24 February, a 13.2% rise on the year. Revenue rose 10.9% to GBP42.6bn.
