Lawson to buy am/pm for JPY15 billion

Thursday, Feb. 26, 2009
Lawson looks to buy am/pm for ¥15 billion
Kyodo News
Lawson Inc., Japan's second-largest convenience store chain, said Wednesday it plans to acquire smaller rival am/pm Japan Co. for between ¥14 billion and ¥15 billion as it seeks to expand its operations in the densely populated Tokyo area.
Lawson said it has struck a basic agreement with Rex Holdings Co., the owner of am/pm Japan, for the acquisition.
window.google_render_ad();
"By making am/pm (Japan), which has a concentration of store chains and customers in the Tokyo metropolitan area, one of our group firms, we will be able to attain dominance," Lawson said in a statement.
Lawson hopes to better compete with market leader Seven-Eleven Japan Co. by taking over seventh-ranked am/pm Japan, which has over 500 convenience stores in Tokyo's 23 wards, observers said.
The acquisition will be the first major realignment in the industry since Circle K Japan Co. and Sunkus & Associated Inc. integrated their operations in 2001.
Observers said the acquisition of am/pm Japan may trigger another industrywide reshuffle as competition intensifies amid deteriorating economic conditions.
Rex Holdings Co., which owns am/pm Japan, had been looking to sell the convenience store chain after its efforts failed to turn around the money-losing outlets.
Lawson said it will acquire all shares of am/pm Japan for ¥1 from Rex Holdings and others in exchange for taking over am/pm Japan's interest-bearing debts of about ¥20 billion.

Malas Noticias en cascada

The Economist, vuelve a la carga esta semana con sendas noticias (1 y 2) sobre la economía japonesa, no demasiado optimistas. La verdad nada nuevo en la nevera, los cerebros integrantes de este bloggerl lo habíamos previsto un año vista, en nuestros enriquecedores debates de barra de bar.