FamilyMart to Launch Biz in Vietnam Ahead of Japan Rivals

Tokyo, April 22 (Jiji Press)--FamilyMart Co. <8028> will be the
first Japanese convenience store chain to open an outlet in Vietnam, it was
learned Wednesday.

Given the socialist country's deregulation of foreign investments
in the retail sector, FamilyMart plans to set up a joint venture with a
local distributor by September and open the first store in Ho Chi Minh City
by the year-end, informed sources said.
Vietnam will be the sixth overseas market for the major Japanese
convenience store chain to enter.
FamilyMart aims to open four more stores by next spring and
eventually increase the number of outlets in the country to 300 in five
years, the sources said.
The company finds it necessary to boost its overseas operations as
big sales growth cannot be expected in Japan due to the falling birthrate,
they said.