Date
23 November 2017

President Chain Store exiting Muji (Taiwan), report says

President Chain Store Corp., operator of the 7-Eleven convenience stores in Taiwan, said in a regulatory filing Thursday that it will sell its entire 51 percent stake in retail chain operator Muji (Taiwan) Co. Ltd. to Japan’s Ryohin Keikaku Co. Ltd., Central News Agency reported. The two companies established the retail venture in 2003 and now the Japanese company hopes to gain control. President Chain Store may reap a NT$1.05 billion (US$35.07 million) profit from the deal, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

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