Muji Retail (Vietnam) Limited Liability Company (Vietnam)

The subject - Muji Vietnam is wholly owned by Ryohin Keikaku Co., Ltd. Muji Vietnam engages in retailing consumer goods, foods, clothes, cosmetics... On the website of its parent company, the primary business is to retail Muji products. The vision is to open 10 stores in Vietnam and to consider stores in smaller provinces, depending on the economic condition, population, and development status.According to media information, despite difficulties caused by the global economic recession, the revenue of Muji stores recorded positive growth in the first months of 2023. The opening of the 5th store in Mar 2023 on an area of 2,000 square meters (at Vincom Thao Dien - Ho Chi Minh City) marked the expansion of the subject's business activities in Vietnam. Mr. Tetsuya Nagaiwa - General Director said “Compared to neighboring Asian markets such as Singapore, Malaysia, Philippines, and Thailand, Muji stores in Vietnam had the largest average retail area, about 2,000 square meters. This number nearly doubled the average for global stores, including Japan. Thanks to that, Muji stores in Vietnam could display a variety of products from as many product groups as possible; therefore, customers would have more choices and shop more often”. Not long after that, Muji Vietnam continued to open its 6th store in Vietnam in May 2023 (at Aeon Mall Ha Dong - Ha Noi City).For the business orientation, Muji Vietnam is still looking for retail spaces of 2,000 square meters or more for new stores located in shopping malls, but this is somewhat difficult because the large premises of shopping malls in Vietnam are quite limited in number. Muji Vietnam considers opening separate Muji stores outside shopping malls, at a prime location, such as standing next to supermarkets or hypermarkets.Ryohin Keikaku Co., Ltd. - the subject's parent company with shares listed on TYO under stock code “7453” owns the Muji brand. This is a Japanese retail brand that sells household products and household appliances.