TOKYO -- Lawson Inc., the second-biggest convenience store chain in Japan--which in 2012 said it was planning to launch c-stores in the United States--said it is looking to buy or invest in drug stores in the United States and Europe and that it would use the expertise it gained to expand its domestic health-care business.
The retailer plans to open one-stop shops catering for an increasing number of health-conscious consumers who eat nutritious food and take supplements and drugs, CEO Takeshi Niinami said in an interview with Bloomberg.
The company hopes investments in foreign drug stores would help it adopt their expertise in its local business, he said.
Lawson, which bought about 5% of pharmacy operator Qol Co. last year, is strengthening its health-related business to differentiate itself from competitors. The chain's profit has grown 50% over the past five years, compared with 5.7% for larger rival Seven & I Holdings Co., owner of the 7-Eleven brand, according to data compiled by Bloomberg.
"We see more business opportunity if we can absorb the know-how of U.S. or European drug stores and put it into practice in Japan and China," which face increasingly aging populations, Niinami said.
Tokyo-based Lawson plans to expand sales of drugs and its offerings of low-carbohydrate, low-calorie food for health-conscious customers such as diabetics among other healthy options, he said.
The company has not started talks with any acquisition targets and has not decided how much to spend, said Niinami.
In April 2012, Lawson said that it planned to open 50 c-stores in Hawaii as a springboard to expand onto the U.S. mainland; however, it has only opened two locations so far.
Tokyo-based Lawson operates approximately 11,250 outlets in Japan and more than 460 stores overseas. More than 100 are Natural Lawson stores selling health-oriented food such as bento boxes with brown rice and tofu tortillas. About 80 locations also sell drugs.
Seven & I, the world's largest c-store operator, has more than 50,000 outlets worldwide in March, according to its website.
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