The company said they pulled out to focus on their native Japanese market.
Ministop is one of the largest convenience stores in the Philippines. They originated in Japan and competed with its main rival 7/11 also a Japanese convenience store. However, due to the company shifting focus on the Japanese market as well as pandemic struggles, the company decided to pull its stores out of the Philippines and South Korea. We’ll truly miss its flavorful menu items including the kariman and their sisig.
A report from Nikkei Asia said that its parent company, Aeon, is selling its 40% stakes over to the Gokongweis’, the owner of the very large Robinsons group of companies. With this in mind, the Philippine branch of Ministop will now be under the care of Robinsons Retail Holdings, Inc. (RRHI).
Ministop is also the fourth largest convenience store in Japan, after 7-Eleven, FamilyMart, and Lawson respectively. Despite this, the company is struggling in profits, reporting a loss of JPY 1.1 Billion for nine months ending in November, after a previous loss of CNY 1.6 billion. In South Korea, Aeon is selling the remaining 12% stake of Ministop to Lotte, known for brands like Koala’s March, and also holds 7-Eleven there. In South Korea, Ministop is currently the fifth-largest convenience store chain.
There are over 460 Ministop stores in the Philippines, most of which are located in Central Business districts and residential areas.
Sources: Nikkei, Esquire Magazine
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