Dept. Store Operator J. Front to Enter Esports Market

Tokyo, Oct. 27 (Jiji Press)--Major Japanese department store operator J. Front Retailing Co. <3086> said Thursday it will enter the esports, or competitive video gaming, market. J. Front will spend nearly 1 billion yen to take a 50.8 pct equity stake in esports event operator Xenoz Co., based in Kawasaki, Kanagawa Prefecture, south of Tokyo, on Nov. 30. Xenoz is a long-established player in the esports market, managing professional esports team Scarz, which is popular especially among fans in their 10s to 30s. J. Front, the operator of Daimaru and Matsuzakaya stores, aims to make esports a pillar of its entertainment business. It also hopes to attract young customers to commercial facilities run by subsidiary Parco Co., as well as its department stores, by holding esports-related events there. Through esports, J. Front plans to expand its operations utilizing digital technology, such as the metaverse and NFTs (non-fungible tokens), in the future. "Esports is a promising market with high growth potential," a J. Front public relations official said, adding that esports will contribute to the utilization of digital technology at real outlets. END