Itochu intends to buy Japanese convenience store chain AM/PM

Xinhua Tokyo, June 24 (Xinhua Ye Jia) Japan's seventh-largest convenience store chain Enterprises AM/PM acquisition of recent developments.　　Media reports here say Itochu has started negotiations with AM/PM's parent company. According to the latest report from the Japanese economic news, the parent company of Itochu and AM/PM, Rex Holdings, has begun negotiations on acquisitions, which will begin AM/PM asset verification in the near future. If it goes well, with its existing third-largest convenience store chain, FamilyMart, plus am/pm, Itochu will be able to reach around 8,500 convenience stores nationwide, not only in numbers, but with Rosen, the second-largest convenience store giant with 8,600 stores,　　It also has access to new trading partners and a powerful chain of purchasing power, and will have an advantage over price negotiations with suppliers.　　However, the report also pointed out that Rex because of the rush to am/pm, to concentrate on resources, but also to investment funds and pharmacy companies, such as the "Olive branch", so Itochu can ultimately succeed in the acquisition of a variable. AM/PM was established in 1990 and currently has about 1100 stores in the Japanese capital circle.　　Because of its rapid expansion and deteriorating performance, Rex found it difficult to rebuild his business and decided to sell it last summer. At the end of February this year, Ms. Rosen and Rex reached an agreement on acquisitions. However, in the ensuing negotiations, a US company holding AM/PM Trademark asked Rosen to continue to use the old name in more than 700 convenience stores, and Rosen refused to accept the offer, and the talks eventually burst.