Ministop Philippines to sell entire stake to Robinsons

According to a report from Nikkei Asia, Japanese convenience store chain Ministop will sell its entire stake of operations in the Philippines. The company will also sell its Korean subsidiary to Lotte.

Artist interpretation of a combined logo of Ministop and Robinsons (Not official)

Robinsons to purchase the 40 percent stake of Ministop in the Philippines

The latest announcement come after Ministop liquidated a Chinese subsidiary in Qingdao last autumn.

Nikkei said that Ministop had a promise of growth in overseas markets like the Philippines and Korea, but it has struggled with profitability. It notes that its overseas segment suffered a 1.1 billion yen operating loss for the nine months ended November, following a year-earlier 1.6 billion yen loss.

At the moment, Ministop ranks fourth in Japan far behind market leaders 7-Eleven, Family Mart, and Lawson.

Ministop did this move to focus resources on its home market.

Ministop has a total of 460 stores in the Philippines and Robinsons Convenience Stores will be the one to purchase its entire 40 percent stake in the country.

It is unknown for now if Ministop will retain its branding in the country or if Robinsons will do a rebrand.

What do you guys think?

Source: Nikkei