INTERNATIONAL NEWS: Rex Holdings to Sell Japanese ampm Stores

Press enter to search
Close search
Open Menu

INTERNATIONAL NEWS: Rex Holdings to Sell Japanese ampm Stores

09/11/2008
TOKYO -- Rex Holdings Inc., which operates "Gyukaku" barbecue restaurants, is considering selling its ampm Japan Co. convenience store chain, reported Jiji Press.

Prospective bidders include Lawson Inc., the second-largest convenience store operator in Japan, and FamilyMart Co., the third-largest operator, according to the report.

A deal will lead to large-scale industry reorganization, but talks may have a tough time addressing the value of the seventh-largest industry player.

Rex Holdings bought ampm Japan from Nippon Mining Holdings Inc. in 2004, and have since tried to rebuild it through restructuring. However, due to aggressive expansion in Tokyo, losses have mounted.

In other news, Japanese solar power equipment vendor Next Energy and Resources Co. will install its equipment at five 7-Eleven convenience stores in the country. The cost per store, paid for by Next Energy, is $18,710.

The company intends to recoup its investment by selling the power generated by its equipment to the 7-Eleven stores at regular power rates.

According to a TradingMarkets.com, Next Energy will promote its solar powered equipment by selling "certificates of green power" to other businesses. The certificates vouch for the fact that the power was derived from alternative energy sources.