BloombergMitsubishi Corp plans to raise its stake in Lawson Inc in a ￥144 billion (US$1.4 billion) tender offer and to turn Japan’s third-largest convenience store operator into a unit as part of a shift away from its mainstay commodities businesses. More support from Mitsubishi is a plus for Lawson’s expansion, as well as its supply chain and distribution, Mitsubishi UFJ Morgan Stanley Securities Co analyst Makoto Sakurai said. Led by downturns in its energy and metals businesses, Mitsubishi reported a net loss of ￥149.4 billion last fiscal year. In its statement, Lawson said that it would support the tender offer. Lawson, which operates about 12,600 stores in Japan and 930 outside the country, is targeting a 26 percent increase to 1,000 overseas shops by February next year.

Source: Taipei Times September 16, 2016 15:56 UTC