FamilyMart-Sinar Mas tie up

FamilyMart-Sinar Mas tie up

TOKYO (Reuters): Japan's FamilyMart Co Ltd said yesterday it
had reached a basic agreement with Indonesia's Sinar Mas Group to
jointly open convenience stores in Indonesia when the economy
there recovers.

FamilyMart and Sinar Mas would wait for the Indonesian economy
to return to health before conducting a feasibility study and
starting operations, said a spokesman for FamilyMart, which is
30.65 percent owned by trading house Itochu Corp.

As of late February, FamilyMart managed a total of 520
convenience stores in Taiwan, 470 in South Korea and 56 in
Thailand, the spokesman said.