NITORI EXPANDING INTO SOUTHEAST ASIA, OPENING ITS FIRST STORE IN MALAYSIA IN JANUARY 2022...

NITORI EXPANDING INTO SOUTHEAST ASIA, OPENING ITS FIRST STORE IN MALAYSIA IN JANUARY 2022 AND IN SINGAPORE IN MARCH 2022

AsiaNet 93710

SAPPORO, Japan, Dec. 16, 2021 /Kyodo JBN-AsiaNet/-- Nitori Holdings Co., Ltd. (Location: Kita-Ku Sapporo, President, and COO: Toshiyuki Shirai) has announced its entry into the Southeast Asian market. The first Nitori store, which sells furniture and home-furnishing products, will open a "NITORI LaLaport BUKIT BINTANG CITY CENTRE" store in Malaysia in January 2022, followed by the opening of a "NITORI ORCHARD" store in Singapore in March 2022. Nitori is Japan's largest furniture and home-furnishing retail chain, and its vision is to open 3,000 stores and achieve sales of 3 trillion yen by 2032, based on the mission statement "To enrich homes around the world." The main business of the Group is opening "Nitori" stores that sell furniture and home-furnishing products. The Group also operates "Deco Home" stores that sell home-furnishing products with a focus on daily necessities, "Shimachu" home improvement stores that also sell furniture, hardware and daily goods, and "N Plus" stores that sell apparel brands for adult women. The Group has opened 692 stores in Japan and 88 stores in Mainland China, Taiwan and the United States. It would like to achieve further growth to realize its mission and vision by opening more stores in other regions and expanding its e-commerce business, including opening stores in Southeast Asia. The first Nitori store in Southeast Asia will open in January 2022, in the "Mitsui Shopping Park LaLaport BUKIT BINTANG CITY CENTRE" in Malaysia. The second store in Malaysia is planned to open in Q3 2022. The first store in Singapore will also open in March 2022 on Orchard Road, the largest main shopping street in Singapore. This is just the first step in Nitori's expansion into the Southeast Asian market. Over the next five years, it plans to open 20 stores in Malaysia and 10 stores in Singapore. NITORI LaLaport BUKIT BINTANG CITY CENTRE store: https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI6fl_cgJ9e5kT.jpg Mitsui Shopping Park LaLaport BUKIT BINTANG CITY CENTRE (picture courtesy of Mitsui Fudosan Co.): https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI7fl_5YkH60ZM.jpeg First Nitori store in Malaysia: Opening January 2022 Building name: Mitsui Shopping Park LaLaport BUKIT BINTANG CITY CENTRE Location: Bukit Bintang City Centre, No.2, Jalan Hang Tuah, 55100 Kuala Lumpur, Malaysia *Details TBA at a later date "N Sleep Shop" to be opened, specializing in bedding and sleepwear items "N Sleep Shop" is a specialty shop that focuses on providing customers with more comfortable sleep. It offers private-brand mattresses and pillows designed for better sleep, cool-to-the-touch bedding, and home diffusers to help customers sleep better. The shop also offers other furniture and home-furnishings products. Nitori's bedding: https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI2fl_tjY4R9wt.png Second Nitori store in Malaysia: Opening Q3 2022 Building name: IOI CITY MALL Location: Management Office, Unit T2-3A-3 & Unit T2-3A-3A, Level 3A, IOI City Tower Two, Lebuh IRC, IOI Resort City, 62502 Putrajaya, Sepang, Selangor *Details TBA at a later date Second Nitori store in Malaysia: https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI3fl_XLxVZ66K.jpg Room coordination (1): https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI9fl_KvhR1Ja4.jpg First Nitori store in Singapore: Opening March 2022 Building name: COURTS Nojima The Heeren Location: Level 4, The Heeren, 260 Orchard Road, Singapore 238855 *Details TBA at a later date NITORI ORCHARD store: https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI4fl_8N2L1CH4.jpg Room coordination (2): https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI8fl_h4xR14iQ.jpg Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings Co., Ltd. "We have been providing products and services to satisfy all our customers, with low prices, good quality and functionality and coordination, making efforts to realize the Group's mission statement: 'To enrich homes around the world.' The opening of new stores in Southeast Asia is a part of this initiative, and we are very pleased to be able to deliver our products to customers in the Southeast Asian region, which is experiencing remarkable economic growth." Comment from Masanori Takeda, Director of Nitori Holdings Co., Ltd., General Manager of Global Merchandising Division, General Manager of Global Sales Promotion Office in Charge of Overseas Sales Business "Nitori Group has developed a unique business model in which we manage everything from product planning to manufacturing, distribution, and sales to provide our customers with better-quality products at lower prices. More than 90% of our products are private-brand products and most of them are manufactured in Asian countries and regions including Southeast Asia. Therefore, we have been active in the Southeast Asian region for more than 20 years and, for that reason, have a large number of business partners, as well as our factories and trading companies of the Group. We are very pleased to be opening new stores in Southeast Asia, where we have a very close relationship with the region, and to start the sales business." Comment from CK Lim, Malaysia Product Department Manager "I joined the Nitori sourcing company located in Malaysia in 2004, and Nitori only had about 100 stores in Japan during that time. I gave my serving to do sourcing and quality control in Malaysia and other Southeast Asian countries to provide the foundation of prosperous home living to the Japanese community in past years. As Nitori has grown steadily, I am very impressed and feel excited that Nitori is going to open a store in my home country. In the coming days, my family, relatives, and friends will know more about Nitori, and I am very much looking forward to contributing to enriching and providing the foundation of prosperous home living to Malaysia, Southeast Asia and the Global community." Comment from Hue Ven Yang, Nitori International Scholarship Foundation Alumni "Congratulations on opening your first store in Malaysia! When I was a graduate student, I was able to devote all my energy to my research activities, thanks to the support of the Nitori International Scholarship Foundation. Being a scholar of the Nitori International Scholarship Foundation gave me an opportunity to think about what I want to do with life. With all my gratitude, I pray for Nitori's realization of its 'mission and vision,' and to bring prosperity to customers all over the world." About Nitori Holdings (Nitori Group) About Nitori Group: https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI5fl_jNqpB1by.jpg Nitori is a Japanese "lifestyle suggestion company," utilizing a wide range of business fields. Nitori Group consists logistics network company Home Logistics Co., Ltd., advertising and public relations company Nitori Public Co., Ltd., etc. ( https://www.nitorihd.co.jp/en/division/group.html ). The Group has established all operational functions in-house, from product planning to manufacturing, logistics and sales. It will continue to evolve its business to realize the mission statement as it expands its endeavors across the globe. Nitori, the main business of the Group, is Japan's largest furniture and home-furnishing retailer. Nitori offers exceptional values on stylish merchandise for home -- all in a convenient, relaxed, and fun shopping environment. Its stores showcase merchandise for all areas of the customer's home: living room, dining room, bedroom, kitchen and more. Nitori International Scholarship Foundation (Image: https://kyodonewsprwire.jp/prwfile/release/ M106920/202112094689/_prw_PI1fl_WgjSK98g.jpg) Akio Nitori, the founder of the Company, donated his financial resources to establish the Nitori International Scholarship Foundation in March 2005. He wants to give back to the Asian countries for their tremendous help and support in achieving the goals of Nitori Holdings Co., Ltd. Furthermore, it offers non-repayable scholarships to contribute to further friendship and human resource development around the world. By the end of March 2022, it is planning to support 8,030 students in 46 countries and regions with a total of 34.9 million yen. Related content Corporate website: https://www.nitorihd.co.jp/en/ Integrated Report: https://www.nitorihd.co.jp/en/pdf/annual2021.pdf Nitori International Scholarship Foundation website: https://www.nitori-shougakuzaidan.com/ NITORI Malaysia: https://www.nitori.my/ Source: Nitori Holdings Co., Ltd.