C-Stores: Lawson Posts Records Results For 2008

Tokyo / JP. (li) Lawson Inc., a leading convenience store chain in Japan, has reported record sales and operating profits for the year ending 28 February, 2009, helped by strong sales of tobacco and food products. For the year, net profit was up 14,4 percent year-on-year to 25,3 billion JPY, with operating profit up 5,5 percent to 49,2 billion JPY. Sales were up 10,2 percent year-on-year to 1,56 trillion JPY.

Like other convenience store chains, Lawson received a boost after consumers bought more tobacco from its stores, put off by the mandatory «Taspo» smart cards required to buy cigarettes at vending machines. It also noted that sales of bakery and other food products rose during the year, after consumers began increasingly eating at home. For the current year, Lawson expects group operating profit to rise by 2,7 percent to 50,5 billion JPY, with net profit edging up 0,8 percent to 25,5 billion JPY.

Lawson: «Ninety-nine Plus» and «Value Lawson» to Merge

Ninety-nine Plus Inc., a consolidated subsidiary of Lawson, has announced that its Board of Directors in March decided to merge with Value Lawson Inc., also a consolidated subsidiary of Lawson (news release).

Business Alliance with am/pm Japan

Lawson Inc. announced that, based on a basic agreement concluded in February 2009, it has agreed to purchase all of the shares in and receivables from am/pm Japan Co. Ltd. from Rex Holdings Inc. (Belleair, Florida, U.S.), and has entered into a shares and receivables transfer agreement with Rex Holdings. Lawson has also entered into a comprehensive business alliance agreement with am/pm Japan (news release).

Press: Lawson buys its rival am/pm Japan

Advantage Partners LLP-controlled Rex Holdings Inc. will be disposing of its financially-troubled am/pm Japan Co. Ltd. to Lawson. The transaction price carries a «memorandum value», according to a public statement from the buyer. Rex currently holds a 62,6 percent stake in am/pm Japan. In 2006, Tokyo-based Advantage Partners committed 45,7 billion JPY to take control of Rex, along with its founding entrepreneur – the daily press in the Far East reports.