FamilyMart announces the opening of three stores on June 25, 2012, in the city of Chengdu, Sichuan Province, the People's Republic of China: the Qinghua Road Store, the Dongjiawan North Street Store and the Qingyang East One Road Store. These stores, the chain's first in the interior region, are part of an effort to strengthen FamilyMart's operations throughout China.
A holding company named China CVS Holding Corp. (CCH) has been established in China, through investment by three companies: FamilyMart Co., Ltd., Ting Chuan Holding Corp., and Taiwan FamilyMart Co., Ltd. Chengdu FamilyMart Co., Ltd., which is wholly owned by CCH, was established in December 2011 to operate the stores in Chengdu. (See attachment for details.)
This unit is our fifth overseeing regional operations in China, following establishment of companies for the Shanghai, Guangzhou, Suzhou and Hangzhou markets.
FamilyMart stores in China leverage the distribution infrastructure of our partner, the Ting Hsin Group-a leading Chinese food products group-and more than 20 years of expertise cultivated through the operation of Taiwan FamilyMart, which was established in 1988. We combine these with assets cultivated in Japan, such as our trademark customer hospitality and production know-how in ready-to-eat items as bento, rice balls and oden hodgepodge. The new company will draw on the expertise of each of these partners. The Chengdu FamilyMart stores will also offer original ready-to-eat favorites from Sichuan Province.
FamilyMart opened its first store in China in Shanghai in July 2004. Since that time, we have expanded our operations into the Guangzhou, Suzhou and Hangzhou markets. As of May 31, 2012, FamilyMart stores in China numbered 900, and we plan to increase this figure to more than 1,200 by the end of fiscal 2012.
Globally, stores operated by the FamilyMart Group surpassed 20,000 in fiscal 2011. By fiscal 2015, we plan to increase this number to 25,000 (including 4,500 in China), rising further to 40,000 (including 8,000 in China) by fiscal 2020. The current move into the country's interior is in line with our aims to accelerate development in China.
FamilyMart remains committed to the customers it has cultivated to date, while also offering new customers "convenience, friendliness and fun" through convenience stores with the "FamilyMart feel."
|Name:||Chengdu FamilyMart Co., Ltd.|
|Location:||No.18 Guzhongsi Street, Qingyang District, Chengdu, China|
|Overview of operations:||Management of convenience-store operations in Chengdu, China|
100% owned by China CVS Holding Corp. (CCH)
• Breakdown of investment in CCH
|Name:||Qinghua Road Store|
|Address:||2-22 Qinghua Road, Chengdu|
|Name:||Dongjiawan North Store|
|Address:||2-214/215 Dongjiawan North Street, Chengdu|
|Name:||Qingyang East One Road Store|
|Address:||No.10, West Section 3, Southern First Ring Road, Chengdu|
|Products:||Some 2,000 items, including ready-to-eat rice balls, bento and sandwiches, oden hodgepodge and other fast foods, steamed meat buns, beverage, snacks, and household items.|