Lawson Acquisition Will Change Landscape

Japanese convenience store chain Lawson has agreed to buy am/pm Japan for JPY14.5bn (US$149.8mn). The acquisition falls in line with the trend of increasing demand for ready meals that CFW has previously highlighted. Unlike some sectors that are adversely affected by economic downturn, companies that focus on convenient and low cost options, such as ready meals, have seen profits increase as consumers cut back on dining out. Indeed, according to industry associations, convenience stores reported JPY7.85tn in sales for 2008, while department store sales stood at JPY7.38tn.

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