Itochu, FamilyMart, Others to Establish Smartphone Ad Firm

Economy

Tokyo, Sept. 1 (Jiji Press)--Japanese trading house Itochu Corp. <8001> and subsidiary FamilyMart Co. <8028> have agreed with NTT Docomo Inc. <9437> and CyberAgent Inc. <4751> to establish a smartphone advertisement company, it was learned Tuesday.

The new company, to be set up by year-end, will advertise goods and services on smartphones based on customers’ purchase records at FamilyMart convenience stores, informed sources said.

FamilyMart will be delisted from the Tokyo Stock Exchange after Itochu succeeded in its tender offer for the convenience store operator.

The establishment of the new company will be their first joint project after the tender offer.

Itochu aims to strengthen FamilyMart’s earning power by enhancing the use of digital technology and bolstering its cooperation with other Itochu group companies.

[Copyright The Jiji Press, Ltd.]

Jiji Press