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Our Profile is Rising as Change Sweeps the Sector
The retail sector in Japan continued its gradual retrenchment after peaking at \148 trillion in fiscal 1996. Convenience stores have continued to grow, on the back of the characteristic they are named for, coupled with their ability to develop products closely tailored to consumer needs.
In fiscal 2008, sales at convenience stores overtook those of department stores.
However, intensified competition from new store openings and competition with discountstores and other outlets operating under different formats, combined with increased IT system costs, are now putting convenience stores under pressure. Sector consolidation has gathered pace with smaller chains with few investment resources being absorbed.
FamilyMart took over the seventh-largest convenience store chain operator in Japan, am/pm Japan Co., Ltd., in December 2009, with full management integration following in March 2010.
This means we will be able to complete conversion of approximately 720 am/pm stores. FamilyMart is becoming a serious player in. Now the third-largest operator in Japan, FamilyMart is significantly expanding its market share through this merger.
For more information, please read our Annual Report.