Agreement for Joint Venture in the Philippines

On this day of January 20, Ryohin Keikaku Co., Ltd. (Tokyo, Japan; Satoru Matsuzaki, President & Representative Director; hereafter RKJ) has announced the signing of an agreement with Stores Specialists Inc.* (hereafter SSI) to form a joint venture for further development of MUJI retail business in Republic of the Philippines.

*a member of the Rustan's Group of Companies and the exclusive franchisee of some of the finest international brands in fashion and lifestyle.

Purpose

Republic of the Philippines is experiencing a remarkable market growth. It has the second largest population in ASEAN countries (ca. 110 million), in which over 50% is aged 24 years or below. Both real GDP and GDP per person are showing over 6% growth rate in average.

RKJ entered into a licensing agreement with SSI in 2010. Since then RKJ has granted SSI to sell MUJI products exclusively in the Philippines. As of today 7 MUJI retail outlets are run by SSI and are popular with various customers.

By creating a joint venture with SSI, RKJ aims to build a stronger presence in one of the most important markets in West, South Asia & Oceania region.

About Joint Venture

Name:
MUJI PHILIPPINES CORP.
Headquarters:
Manila, Philippines
Representative:
Katsutoshi Suzuki
Capital:
3 million USD
Ownership:
RKJ 49%, SSI 51%
Establishment:
March, 2017 (plan)

About Stores Specialists Inc.

Headquarters:
Manila, Philippines
President:
Anthony T. Huang
Business:
A retailor and a franchisee of international brands in fashion and lifestyle
Capital:
3,300 million PHP (ca 7,900 million JPY* as of fiscal year 2015)
*1 PHP = 2.39 JPY
Establishment:
1987
For more information please contact:
Ryohin Keikaku Co., Ltd.
Corporate Planning Office
Tel: +81 3 3989 4410