Sunday May 11, 06:12 PM
Japan's Yamada Denki to expand in China
TOKYO (AFP) - Yamada Denki, Japan's largest discount home electronics retail chain, is planning to open its first Chinese outlet by 2010.
The store, which will have a sales floor of between 5,000 and 10,000 square meters (54,00 to 108,000 square feet), is likely to be built in Shanghai, the Nikkei (news) newspaper reported Sunday..
It will target wealthy individuals who live in China's coastal regions, with Japanese-made products such as flat-panel televisions, the Nikkei said.
Yamada Denki is shifting its focus to expanding overseas markets after concluding that the domestic market will not likely grow due to the ongoing population decline, it said.
If its current plan is realized, it will be the first major Japanese consumer electronics retailer to operate in mainland China, it said.
Yamada Denki expects sales of 1.8 trillion yen (17.3 billion dollars) for the year to March, with net profit expected at 53.1 billion yen, and operates 1,074 stores nationwide.
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