Japan’s FamilyMart Seeks Split From Chinese Partner [Fortune]
FAMILYMART UNY HOLDINGS CO LTD AMERICAN DEPOSITA (FYRTY)
Company Research
Source: Fortune
Japan's FamilyMart Seeks Split From Chinese Partner Japan’s FamilyMart—a 7-Eleven competitor in China—wants to part ways with its Chinese business partners, amid loosening foreign ownership restrictions for non-critical industries such as retail and consumer goods. The move comes as China’s convenience-store market is set to grow by more than 60% to $27 billion in the next five years. That’s a byproduct of rapid urban growth and demand for around-the-clock food, snacks, and beverages, according to Euromonitor . FamilyMart UNY Holdings Co. is suing to end its Chinese partnership with Ting Hsin Group, saying the Taipei-based conglomerate hasn’t fairly shared gains from the chain’s rapid expansion, according to sources familiar with the matter and legal documents seen by Bloomberg. The spat is the latest tussle involving joint ventures in China because of government restrictions on foreign companies seeking access to its vast consumer market. In 2004, when the FamilyMart joint venture w
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