Matsumoto Kiyoshi drugstore to set up JV in Vietnam
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Japanese drugstore operator Matsumoto Kiyoshi is to open stores in Vietnam in partnership with a local company, Lotus Food Group.
The two parties have formed a joint venture, Matsumoto Kiyoshi Vietnam JSC, to operate a drugstore chain under the name MatsuKiyo in Vietnam. In Japan, Matsumotokiyoshi operates stores under the banner Matsumoto Kiyoshi.
According to a statement by Matsumotokiyoshi, a JV company has been set up with a capital of US$1.36 million, 51-per-cent owned by Matsumotokiyoshi, 48.87 percent by Lotus Food Group and 0.13 percent owned by Le Van May, the president and CEO of Lotus.
After its successful expansion in Thailand, Matsumotokiyoshi chose Vietnam as its next Southeast Asian destination, hoping to strengthen its presence further in the region.
The brand now has 34 stores across Thailand, five in Taiwan and is planning to open in Hong Kong in the near future.
The first MatsuKiyo store’s location and an opening date has yet to be disclosed.
Questions & Answers
Q.What is the name of the joint venture company that has been formed?
What is the name of the joint venture company that has been formed?
The joint venture company established to operate the drugstore chain in Vietnam is named Matsumoto Kiyoshi Vietnam JSC. It will operate stores under the MatsuKiyo brand in the country.
Q.What is the capitalisation of the joint venture and who are the owners?
What is the capitalisation of the joint venture and who are the owners?
The joint venture company has a capital of US$1.36 million. Matsumotokiyoshi owns 51%, Lotus Food Group holds 48.87%, and Le Van May owns the remaining 0.13%.
Q.Where else has Matsumotokiyoshi expanded in Southeast Asia before coming to Vietnam?
Where else has Matsumotokiyoshi expanded in Southeast Asia before coming to Vietnam?
Matsumotokiyoshi previously expanded into Thailand, where it currently operates 34 stores. Vietnam was chosen as its next Southeast Asian destination after this successful expansion.
Q.Has a specific opening date or location for the first store in Vietnam been announced yet?
Has a specific opening date or location for the first store in Vietnam been announced yet?
No, the article states that the location and opening date for the first MatsuKiyo store in Vietnam have not yet been disclosed to the public.
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