Announcement: MUJI Switzerland AG to be established

Ryohin Keikaku Co., Ltd. (Tokyo, Japan; Satoru Matsuzaki, President & Representative Director; hereafter RKJ) has announced today that the Board of Directors has resolved the establishment of a subsidiary in the Swiss Confederation (hereafter Switzerland) by MUJI EUROPE HOLDINGS LIMITED (hereafter MEH), its regional headquarters in Europe, for further business development.

Purpose

Switzerland, known for its permanent neutrality, is geographically a landlocked country in west-central Europe with the total area of 41,285 km2 (comparable to Kyushu, the third largest island in Japan). It has a population 8.42 million* which grew by 11.6%* in 10 years until 2015 through continuous inflow. From the retail's point of view it is one of the growing markets among the most developed countries in the world, with the second* highest per capita GDP (nominal) and estimated annual growth rate of 1.8%* in 2018. RKJ and MEH have therefore decided to enter into this attractive market.

We expect that our experience and know-how in the European market would help in running stores that serves everyday living and increases MUJI fans in the area.

*data source: IMF

About the Company (plan)

Name:
MUJI Switzerland AG
Headquarters:
Zurich, Switzerland
Representative:
Takuo NAGAHARA (MEH Managing Director)
Capital:
100,000 Swiss Franc
Ownership:
MEH 100%
Establishment:
January, 2019
Business:
Management of MUJI stores in Switzerland
Operation start:
October, 2019 (planned opening date of the first store in Zurich)
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RYOHIN KEIKAKU CO., LTD.
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