Matsumotokiyoshi Agrees on JV to Expand into Vietnam

Economy

Tokyo, July 16 (Jiji Press)--Matsumotokiyoshi Holdings Co. <3088> said Tuesday that it has agreed to launch a joint venture with Vietnamese distributor Lotus Food Group as part of the Japanese drugstore operator's envisaged expansion into the Southeast Asian country.

Matsumotokiyoshi, which already has stores in Thailand and Taiwan, is expected to pursue talks to set up a local entity to run a Vietnamese store.

The company also said the same day that it will make Matsumotokiyoshi (HK) Co. a wholly owned subsidiary. The Hong Kong-based company was originally established for overseas market research, but may be used for expanding the drugstore business to the region.

END

[Copyright The Jiji Press, Ltd.]

Jiji Press