1. News
May 25, 2018

Hong Kong’s Urban Kirin to acquire Uny retail business in Japan

Hong Kong-based Henderson Land Development’s subsidiary Urban Kirin has signed an agreement to purchase the retail assets of Uny from Japanese convenience store chain FamilyMart for $38.2m.

Hong Kong-based Henderson Land Development’s subsidiary Urban Kirin has signed an agreement to purchase the retail assets of Uny from Japanese convenience store chain FamilyMart for $38.2m.

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The deal will expand Henderson’s retail business in Hong Kong and Kowloon and increase its store portfolio.

FamilyMart currently owns and operates department stores, supermarkets, and a discount store in Hong Kong under Apita, Uny, Piago and Watashi to Seikatsu banners.

These department stores and supermarkets are targeted at middle-class households and are similar to the Citistores of Henderson. In addition, the Japanese fresh produce and food products will expand product offerings to its retailing customers.

Henderson will also get exclusive right and license to use certain trademarks for the Uny stores in Hong Kong for ten years.

“The acquisition is expected to further strengthen the position of the group in the local retailing industry.”

Henderson said in a statement: “The acquisition is expected to further strengthen the position of the group in the local retailing industry.”

“Taking advantage of the sound experience and valuable merchandise sourcing experience of the target company, the acquisition will produce synergy effect. There are potential synergy and cost-saving opportunities for merchandising and other back-office functions.”

Henderson has also signed a master supply agreement for the supply of certain products from Japan to Uny’s stores.

Following the transaction, Uny will become an indirect wholly owned subsidiary of the company.

The acquisition is subject to certain customary conditions, including approval of shareholders and potential investors.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.