FamilyMart Uny and Don Quijote agree to capital tie-up

Aug 25, 2017 | News On Japan

Aug 25, 2017 (Japan Times) - FamilyMart Uny Holdings Co. and discount chain Don Quijote Holdings Co. said Thursday they reached a basic agreement to forge a capital and business alliance.

FamilyMart Uny, a major retailer, said it will transfer a 40 percent equity sake in wholly owned subsidiary Uny Co., a general merchandiser from Inazawa, Aichi Prefecture, to Don Quijote as early as November.

Some of the Uny stores will be converted to Don Quijotes, while the other part of the holding company, Tokyo-based convenience store chain FamilyMart Co., will open outlets in Don Quijotes.

FamilyMart Uny will aim to rebuild its slumping merchandising operations by using Don Quijote's know-how in attracting a wide range of customers, including young people and tourists.

FamilyMart Uny and Don Quijote also will consider joint product development and procurement, personnel exchanges, and study the possibility of jointly launching financial services.

Source: ANNnewsCH

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