ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business

Japan's Ministop quitting Kazakh market

Ministop graced Central Asia with its first-ever Japanese convenience store by opening this Almaty location in 2013.

TOKYO -- Japanese convenience store operator Ministop said Monday that it is pulling out of Kazakhstan, citing a change of heart by local partner Lancaster Group following a shift in economic conditions since the February devaluation of the local currency.

     Ministop set up a joint venture in 2012 with Lancaster and Japanese logistics company Senko to operate convenience stores in Kazakhstan. The initial location opened the following January in Almaty as Central Asia's first Japanese convenience store. The venture now operates seven stores.

     With the 20% devaluation of the tenge, Lancaster wants to exit the convenience store business and focus on its core activities of advertising and retailing, including stores in train stations, according to Ministop.

     Ministop will sell its 39% stake in the joint venture to Lancaster in July, and Senko will unload its 10% interest. The venture will be dissolved and the seven stores closed.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more