法人別リリース

Nitori Group Opening First Store in Indonesia in July 2024, 10th Market in Asia

Nitori Holdings — Thu, 27 Jun 2024 16:00:00 +0900

SAPPORO, Japan, June 27, 2024 /Kyodo JBN/ --
Nitori Holdings Co., Ltd.
Nitori Holdings Co., Ltd. based in Sapporo, northern Japan, has announced the launch of its first Nitori store in Indonesia, aiming to accelerate more store openings in the Asian market. The first store in Indonesia will open in July in "Central Park Mall," one of the largest shopping malls in Jakarta.

Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202406192387/_prw_PI1fl_G5Y6nrGG.jpg

Nitori is Japan's largest furniture and home-furnishing retail chain and its vision is to operate 3,000 stores and achieve sales of 3 trillion yen by 2032, based on the mission statement "To enrich the homes of people all over the world." The main business of the Nitori Group is opening "Nitori" stores that sell furniture and home-furnishing products. The Group also has a wide range of business operations such as "Deco Home" stores that sell home-furnishing products with a focus on daily necessities, "Shimachu" home improvement stores that sell hardware, daily goods and furniture, and "N Plus" stores that sell apparel for adult women. The Group has opened 828 stores in Japan and 184 stores in the rest of the world, such as Mainland China, Hong Kong, Taiwan, Republic of Korea, Malaysia, Singapore, Thailand, Vietnam and the Philippines, with a total of 1,012 stores. Last year, there were 340 million customers who visited the Group’s stores. The number of shoppers exceeded 100 million, making it safe to say that Nitori is the number one home-furnishing store in Asia.

The Group has built a business model, encompassing everything from product planning to manufacturing, distribution and sales, in order to provide a wide variety of products that "Offering the Unexpected" of excellent quality at low prices. In the process, the Group has built a network in the Asian region consisting of many partner companies and of its own factories and trading companies. Along with numerous business partners, the Group is striving to propose the creation of enjoyable, prosperous, and totally coordinated living spaces to people all over the world.

The Asian market, where significant growth is expected, is important for the realization of the Group's mission and vision. Hence, it has positioned the expansion of its store network by accelerating store openings as one of its top priorities.

The Group believes that Indonesia has a highly valuable market since the country has successfully used its demographics for economic growth, leading itself to become one of the Asian countries enjoying the highest growth. With the goal of opening 80 stores by 2032, the Group aims to establish its network of stores in the earlier period.

This time, along with Indonesia, the Group also plans to open its first store in India. By the end of FY2024*, the Group plans to add 116 stores within Asia, including both the countries/regions where stores have already opened and new countries/regions. In total, the Group will have 295 stores across the Asian region outside Japan. In order to realize its vision by 2032, the company aims to open more than 200 overseas stores per year in the near future.
*Nitori's fiscal year (FY) is from April 1 to March 31.

First store in Indonesia opening in July :
- Facility name: Central Park Mall
- Location: L2-202, Jl. Letjen S. Parman No. Kav. 28, Tj. Duren Sel., Kec. Grogol petamburan, Kota Jakarta Barat, Daerah Khusus Ibukota Jakarta 11470, Indonesia
*Details TBA at a later date.

Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings Co., Ltd.:
"Based on our mission statement 'To enrich homes of people all over the world,' we are aiming to be a company where customers all over the world would feel 'glad that Nitori is here.' We are going to accelerate the expansion of our business within the Asian region, which is expected to achieve significant economic growth over the long term and serves as the core of the supply chain that supports the Group. With the support of everyone, we have managed to open 1,000 stores worldwide. We are very pleased to be able to bring Nitori products to more countries, regions and customers."

Comment from Masanori Takeda, Executive Vice President in Charge of Overseas Businesses, General Manager, Global Merchandising Division, General Manager, Global Sales Promotion Office, Nitori Holdings Co., Ltd.:
"We are accelerating our store openings within the Asian region and managed to open the first store in Thailand, Hong Kong, Korea and Vietnam each last year. We also opened our first store in the Philippines this April. Since then, we have received countless supports from many customers. Our target is to open 2,000 stores overseas, and to achieve sales of 1 trillion yen by 2032. We will continue to take on the challenge of providing the same standards of quality refined in Japan to the Asian region, and to deliver 'Offering the Unexpected' to customers all over the world."

About Nitori International Scholarship Foundation
Akio Nitori, the founder of the Group, donated his financial resources to establish the Nitori International Scholarship Foundation in March 2005. He wants to give back to the Asian countries and regions for their tremendous help and support in achieving the goals of the Group. Furthermore, he offers non-repayable scholarships to contribute to further friendship and human resource development around the world. As of March 31, 2024, it had 10,732 students supported in around 47 countries and regions with a total of 5.04 billion yen.

Map showing students' home countries and regions:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202406192387/_prw_PI2fl_J389zUrW.jpg

About Nitori Holdings Co., Ltd. (Nitori Group):
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202406192387/_prw_PI3fl_2Yv37hWM.jpg

Related content
Corporate website: https://www.nitorihd.co.jp/
Integrated Report: https://www.nitorihd.co.jp/en/ir/library/annual.html
Nitori International Scholarship Foundation website (in Japanese): https://www.nitori-shougakuzaidan.com/
NITORI Indonesia: https://www.nitori.co.id/

Nitori Group Accelerating Store Launches in Asia: Opening Its First Store in Philippines This April

Nitori Holdings — Wed, 13 Mar 2024 15:00:00 +0900

SAPPORO, Japan, Mar. 13, 2024 /Kyodo JBN/ --
Nitori Holdings Co., Ltd.
Nitori Holdings Co., Ltd. based in Sapporo, northern Japan, has announced the launch of its first Nitori store in the Philippines, aiming to accelerate more store openings in the Asian market. The first store in the Philippines will open in April in "MITSUKOSHI BGC," a huge shopping center in Manila.

Image:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202403067602/_prw_PI1fl_4QQZsb1c.png

Nitori is Japan's largest furniture and home-furnishing retail chain and its vision is to operate 3,000 stores and achieve sales of 3 trillion yen by 2032, based on the mission statement "To enrich the homes of people all over the world." The main business of the Nitori Group is opening "Nitori" stores that sell furniture and home-furnishing products. The Group also has a wide range of business operations such as "Deco Home" stores that sell home-furnishing products with a focus on daily necessities, "Shimachu" home improvement stores that sell hardware, daily goods and furniture, and "N Plus" stores that sell apparel for adult women. Nitori has opened 810 stores in Japan and 173 stores in foreign countries/regions around the world, such as Mainland China, Hong Kong, Taiwan, Republic of Korea, Malaysia, Singapore, Thailand and Vietnam, with a total of 983 stores, and the number of stores will be 1,001 by March 31. In 2023, there were 340 million customers who visited the Nitori stores. The number of shoppers exceeded 100 million, making it safe to say that Nitori is the number one home-furnishing store in Asia.

The Nitori Group has built a business model, encompassing everything from product planning to manufacturing, distribution and sales, in order to provide a wide variety of products that "offer the unexpected" of excellent quality at low prices. In the process, Nitori has built a network in the Asian region consisting of many partner companies and of its own factories and trading companies. Along with numerous business partners, Nitori is striving to propose the creation of enjoyable, prosperous, and totally coordinated living spaces to people all over the world.

The Asian market, where significant growth is expected, is important for the realization of the Nitori Group's mission and vision. Hence, it has positioned the expansion of its store network by accelerating store openings as one of its top priorities. Due to the size and potential growth of the Philippines’ population and economy, Nitori has been seeking opportunities to enter and expand its stores in the country for a long time. The company will continue to build the store network, aiming to open 50 stores by the end of 2032.

Following its market entries in Malaysia and Singapore in 2022, Nitori has opened its first stores in Thailand, Hong Kong, Korea and Vietnam so far in FY2023, prior to its opening in the Philippines. In each case, Nitori has received great support from many customers in each region. Furthermore, Nitori plans to open new stores in Indonesia and India. As of today, Nitori has 45 overseas stores and expects to add 6 more stores this month, which will bring the total to 51 by the end of FY2023. By the end of FY2024, Nitori plans to increase its number of overseas stores by an additional 100. In order to realize its mission and vision, the company aims to open more than 200 overseas stores per year in the near future.
*Nitori's fiscal year (FY) is from April 1 to March 31.

First Philippine store opening in April
Facility name: MITSUKOSHI BGC
Location: 3rd Floor, Unit 0301-0303, MITSUKOSHI BGC, 8th Ave. Corner 36th St., Grand Central Park, North BGC, Taguig City
*Details: TBA at a later date

Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings Co., Ltd.:
"We are going to accelerate the expansion of our business within the Asian region, which is expected to achieve significant economic growth over the long term and serves as the core of the supply chain that supports the Nitori Group. We are very grateful that the total number of our stores will reach 1,000 by the end of this month. We will further accelerate the pace of our store openings, aiming for 200 each year, to capitalize on the growth of Asia and to meet the needs of our customers in the region. We are very pleased to be able to bring Nitori products to more countries, regions, and customers."

Comment from Masanori Takeda, Executive Vice President, In Charge of Overseas Businesses General Manager, Global Merchandising Division General Manager, Global Sales Promotion Office, Nitori Holdings Co., Ltd.:
"We are accelerating our store openings within the Asian region and had realized the first store in Thailand, Hong Kong, Korea and Vietnam last year. Our goal is to operate 2,000 overseas stores and to achieve an annual overseas sales equivalent of 1 trillion yen by 2032. We will continue to take on the challenge of providing the same standards of quality refined in Japan to the Asian region, so that we can resolve the 'discontent, dissatisfaction, and inconvenience' of our customers and so that more customers can enjoy coordinating various lifestyles and homes around the world."

About Nitori International Scholarship Foundation
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 and regions for their tremendous help and support in achieving the goals of Nitori Holdings Co., Ltd. Furthermore, he offers non-repayable scholarships to contribute to further friendship and human resource development around the world.
As of March 31, 2023, it had 9,254 students supported in around 46 countries and regions with a total of 4.22 billion yen.

Map showing students' home countries and regions:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202403067602/_prw_PI2fl_RDMsAg2K.jpg

Nitori International Scholarship Foundation website (in Japanese): https://www.nitori-shougakuzaidan.com/

About Nitori Holdings Co., Ltd. (Nitori Group):
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202403067602/_prw_PI3fl_HTR0j2m0.jpg

Corporate website: https://www.nitorihd.co.jp/
Integrated Report: https://www.nitorihd.co.jp/en/ir/library/annual.html
Nitori International Scholarship Foundation website (in Japanese): https://www.nitori-shougakuzaidan.com/
NITORI Philippines: https://www.nitori.com.ph

Nitori Group Accelerating Store Launches in Asia: Opening Its First Store in Vietnam This Winter

Nitori Holdings — Thu, 30 Nov 2023 15:00:00 +0900

SAPPORO, Japan, Nov. 30, 2023 /Kyodo JBN/ --
Nitori Holdings Co., Ltd.
Nitori Holdings Co., Ltd. based in Sapporo, northern Japan, has announced the launch of its first Nitori store in Vietnam, aiming to accelerate more store openings in the Asian market. The first store in Vietnam will open this winter in "SORA gardens SC," a shopping center in TOKYU Garden City, Binh Duong province.

Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202311243339/_prw_PI1fl_q4QrrE7V.png

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 of people all over the world." The main business of the Nitori Group is opening "Nitori" stores that sell furniture and home-furnishing products. The Group also has a wide range of business operations such as "Deco Home" stores that sell home-furnishing products with a focus on daily necessities, "Shimachu" home improvement stores that sell hardware, daily goods and furniture, "N Plus" stores that sell apparel for adult women, and Nitori Dining "Minnano Grill" which is a food service business. Nitori has opened 808 stores in Japan and 158 stores in Mainland China, Hong Kong, Taiwan, Republic of Korea, Malaysia, Singapore and Thailand, with a total of 966 stores operating around the world.

The Nitori Group has built a business model, encompassing everything from product planning to manufacturing, distribution and sales, in order to provide a wide variety of products that "offer the unexpected" of excellent quality at low prices. In the process, Nitori has built a network in the Asian region consisting of many partner companies and of its own factories and trading companies. Along with numerous business partners, Nitori is striving to propose the creation of enjoyable, prosperous, and totally coordinated living spaces to people all over the world.

The Asian market, where significant growth is expected, is important for the realization of the Nitori Group’s mission and vision. Hence, it has positioned the expansion of its store network by accelerating store openings as one of its top priorities. There are two major manufacturing bases in Vietnam, located in Hanoi and Ba Ria-Vung Tau, which are one of the Nitori Group’s strengths. There are approximately 10,000 employees who support the supply of products that "offer the unexpected."

The Hanoi factory began manufacturing in 2003, mainly producing boxed furniture such as cupboards, bed frames and sofas. The Ba Ria-Vung Tau factory started manufacturing in 2015, mainly turning out dining tables and chairs, curtains and bedding such as N-cool. In addition, the Nitori Group has its own trading company and many suppliers in Vietnam, which have been responsible for the supply chain management of the Nitori Group in Southeast Asia. In Vietnam, the Nitori Group will continue to build the store network, aiming to open 70 stores in the next 10 years.

In 2022, Nitori opened 37 stores in four countries and regions in Asia, including its first ones in Malaysia and Singapore. This year, Nitori opened its first store in Thailand in August, Hong Kong in September, and Korea in November, which are supported by many customers. In addition to Vietnam, Nitori plans to open its first stores in the Philippines and Indonesia. By the end of March 2024, Nitori plans to open 58 new stores in both existing and new countries and regions, bringing the total number of stores in the Asian region to 187. Furthermore, from 2025 and beyond, Nitori plans to open an average of 300 stores per year overseas in order to fulfill its mission and vision.

First store in Vietnam opening this winter:
- Facility name: SORA gardens SC
- Location: SORA gardens SC, Lot C19, Hung Vuong BLVD, Hoa Phu Ward, Thu Dau Mot City, Binh Duong Province, Vietnam
*Details TBA at a later date.

Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings Co., Ltd.:
"We have refined our manufacturing-logistics-IT-retail business model in order to provide products and services that 'offer the unexpected' from the point of view of our customers as we make efforts to realize the Group's mission statement 'To enrich homes of people all over the world.' We are going to accelerate the expansion of our business within the Asian region, which is expected to achieve significant economic growth over the long term and is the core of the supply chain that supports the Nitori Group. We will further accelerate the pace of our store openings to take in the growth of Asia as well as to respond to the needs of customers in Asia. We are very pleased to be able to bring Nitori products to more countries, regions and customers."

Comment from Masanori Takeda, Director, General Manager of Global Merchandising Division, General Manager of Global Sales Promotion Office in Charge of Overseas Sales Business, Nitori Holdings Co., Ltd.:
"We are accelerating our store opening within the Asian region and had realized the first store in Thailand in August, Hong Kong in September, and Korea in November. We are very pleased to be able to start our business in Vietnam, a country where we have our manufacturing base, trading company, and many of our supportive suppliers. We will continue to take on the challenge of providing the same standards of quality refined in Japan to the Asian region, so that we can resolve the 'discontent, dissatisfaction, and inconvenience' of our customers and so that more customers can enjoy coordinating various lifestyles and homes around the world."

Comments from Nguyen Thi My Dung, General Affairs Department Associate, Nitori Trading Vietnam Co., Ltd.:
"I joined the company as the General Affairs Department Associate in 2010. The job in the General Affairs Department is a rewarding job that involves working with many people. In the past 10 years, it has been my dream to be involved in the opening of the first store in Vietnam, and I am very happy that my dream has now come true. I will continue challenging so that the customers in Vietnam will experience happiness through products of Nitori."

Comment from Associate Professor, PhD. Pham Thanh Huyen, Director of Student Affairs Department - Hanoi University of Science and Technology, Nitori International Scholarship Foundation (*)
"Congratulations on the opening of the first Nitori store in Vietnam. In 2015, Hanoi University of Science and Technology signed a scholarship agreement with the Nitori International Scholarship Foundation. Throughout the 7 years, approximately 200 students were able to receive the scholarship, achieved excellent academic performances and joined social activities enthusiastically. We would like to express our respect for this scholarship program as we believe that it is an activity with high humanitarian value."

(*) About Nitori International Scholarship Foundation
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 and regions for their tremendous help and support in achieving the goals of Nitori Holdings Co., Ltd. Furthermore, he offers non-repayable scholarships to contribute to further friendship and human resource development around the world. Since 2014, Nitori has been providing support to universities in Vietnam and currently is supporting 17 universities. As of March 31, 2023, it had 9,254 students supported in around 46 countries and regions with a total of 4.22 billion yen.

Map showing students' home countries and regions:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202311243339/_prw_PI2fl_m686912t.jpg

Nitori International Scholarship Foundation website (in Japanese):
https://www.nitori-shougakuzaidan.com/

About Nitori Holdings Co., Ltd. (Nitori Group):
https://kyodonewsprwire.jp/attach/202311243339-O1-K6b8UCJw.pdf

Corporate website: https://www.nitorihd.co.jp/en/
Integrated Report: https://www.nitorihd.co.jp/en/ir/library/annual.html
NITORI Vietnam: https://www.nitori.com.vn

Nitori Group Accelerating Store Openings in Asia: Launching Its First Store...

Nitori Holdings — Tue, 10 Oct 2023 15:00:00 +0900

SAPPORO, Japan, Oct. 10, 2023 /Kyodo JBN/ --
Nitori Holdings Co., Ltd.
Nitori Holdings Co., Ltd. based in Sapporo, northern Japan, has announced the opening of its first Nitori store in the Republic of Korea, aiming to accelerate more store openings in the Asian market. It will open in November 2023 in emart Hawolgok, a hypermarket in Seoul.

Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202310020515/_prw_PI1fl_X69nT9na.jpg

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 of people all over the world." The main business of the Nitori 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 sell hardware, daily goods and furniture, and "N Plus" stores that sell apparel for adult women. Nitori has opened 805 stores in Japan and 148 stores in Mainland China, Hong Kong, Taiwan, Malaysia, Singapore, and Thailand, with a total of 953 stores operating around the world.

The Nitori Group has built a business model, encompassing everything from product planning to manufacturing, distribution, and sales, in order to provide a wide variety of products that "offer the unexpected" and are of excellent quality at low prices. In the process, Nitori has built a network in the Asian region consisting of many partner companies and of its own factories and trading companies. Along with numerous business partners, Nitori is striving to propose the creation of enjoyable, prosperous, and totally coordinated living spaces to people all over the world.

The Asian market, where significant growth is expected, is important for the realization of Nitori’s mission and vision. Hence, it has positioned the expansion of its store network by accelerating store openings as one of its top priorities. Korea, a world leader in the electronics, IT, and automotive industries, occupies an important position in the Asian economy and has an extremely advanced and sophisticated consumer market. In order to contribute to the enrichment of the lives of Korean customers, Nitori will offer products and coordination solutions that suit the changing seasons, as well as style-specific coordination solutions that match the tastes of customers. By striving to be accepted in Korea, a country with an abundance of aesthetically creative and imaginative lifestyles, Nitori hopes to strengthen its products and services. To expand its store network in Korea, Nitori is aiming to open 200 stores in the next 10 years.

In 2022, Nitori launched 37 stores in four countries and regions in Asia, including its first opening in Malaysia and Singapore. The following year, Nitori opened its first store in Thailand in August and Hong Kong in September, which are supported by many customers.

In addition to Korea, Nitori plans to open its first stores in Vietnam, Indonesia, and the Philippines. By the end of March 2024, it plans to open 78 new stores in both existing and new countries and regions, bringing the total number of stores in the Asian region to 206. Furthermore, from 2025 and beyond, Nitori plans to open an average of 300 stores per year overseas in order to fulfill its mission and vision.

First Nitori store in Korea
- Opening date: November 2023
- Facility name: emart Hawolgok
- Location: B1F, emart Hawolgok, 167, Jongam-ro, Seongbuk-gu, Seoul
*Details TBA at a later date

Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings Co., Ltd.:
"We have refined our manufacturing-logistics-IT-retail business model in order to provide products and services that 'offer the unexpected' from the point of view of our customers as we make efforts to realize the Group's mission statement 'To enrich homes of people all over the world.' We are going to accelerate the expansion of our business within the Asian region, which is expected to achieve significant economic growth over the long term and is the core of the supply chain that supports the Nitori Group. We will further accelerate the pace of our store openings to take in the growth of Asia as well as to respond to the needs of customers in Asia. We are very pleased to be able to bring Nitori products to more countries, regions and customers."

Comment from Masanori Takeda, Director, General Manager of Global Merchandising Division, General Manager of Global Sales Promotion Office in Charge of Overseas Sales Business, Nitori Holdings Co., Ltd.:
"We are very pleased to be able to open our store in Korea, which has been our wish for a long time. We will strive to provide products and services that meet the expectations of our sophisticated Korean customers. We are accelerating our store openings within the Asian region and opened our first store in Thailand in August, and our first store in Hong Kong. We will continue to take on the challenge of providing the same standards of quality refined in Japan to the Asian region, so that we can resolve the 'discontent, dissatisfaction, and inconvenience' of our customers and so that more customers can enjoy coordinating various lifestyles and homes around the world."

Comment from Lee Ryegyeong, Store Operation Department, Nitori Korea Co., Ltd.:
"I am very pleased to be involved in Nitori's expansion into Korea. When I returned to Korea and started living alone, I got interested in home decorating. In Korea, you have to visit many shops to find items that suit your taste. I believe Nitori can help them by providing a variety of choices to make their own sweet home just by shopping at Nitori. I will do my best so that our customers in Korea can experience the 'prosperous lifestyle'."

Comment from Garam Kim, Nitori International Scholarship Foundation Alumna:
"Congratulations to Nitori on opening its first store in Korea. Korea is a country that is very close to Japan and has a similar culture and temperature to Japan. Nitori's home furnishing products and furniture offered in Japan are often suited to the lifestyles and tastes of the Koreans, so I think this will be a good market for Nitori. I hope that Nitori will continue to enrich the homes of people not only in Korea but all over the world."

(*) Nitori International Scholarship Foundation
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 and regions for their tremendous help and support in achieving the goals of Nitori Holdings Co., Ltd. Furthermore, he offers non-repayable scholarships to contribute to further friendship and human resource development around the world. In 2014, Nitori began to provide support to local university students overseas. Since 2021, Nitori has been providing support to universities in Thailand. As of March 31, 2023, it had 9,254 students supported in around 46 countries and regions with a total of 4.22 billion yen.

Map showing students' home countries and regions:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202310020515/_prw_PI2lg_k4W3PS86.jpg

Nitori International Scholarship Foundation website (in Japanese): https://www.nitori-shougakuzaidan.com/

About Nitori Holdings Co., Ltd. (Nitori Group):
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202310020515/_prw_PI3lg_53Vhl42B.jpg

Corporate website: https://www.nitorihd.co.jp/en/
Integrated Report: https://www.nitorihd.co.jp/en/ir/library/annual.html
NITORI KOREA website: https://nitorikorea.com

Nitori Group Accelerating Store Openings in Asia: Opening Its First Store in Hong Kong

Nitori Holdings — Tue, 05 Sep 2023 16:00:00 +0900

SAPPORO, Japan, Sept. 5, 2023 /Kyodo JBN/ --
Nitori Holdings Co., Ltd.
Nitori Holdings Co., Ltd. based in Sapporo, northern Japan, has announced the opening of its first Nitori store in Hong Kong aiming to accelerate more store openings in the Asian market. The first Hong Kong store will open in September 2023 in MegaBox, a large shopping mall in Kowloon Bay.

Image:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202308258474/_prw_PI1fl_d2Z06PM6.jpg

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 of people all over the world." The main business of the Group is opening "Nitori" stores that sell furniture and home-furnishing products. The Nitori Group also operates "Deco Home" stores that sell home-furnishing products with a focus on daily necessities, "Shimachu" home improvement stores that sell hardware, daily goods and furniture, and "N Plus" stores that sell apparel for adult women. Nitori has opened 793 stores in Japan and 142 stores in Mainland China, Taiwan, Malaysia, and Singapore, with a total of 935 stores operating around the world.

The Nitori Group has built a business model, encompassing everything from product planning to manufacturing, distribution, and sales, in order to provide a wide variety of products that "offer the unexpected" and are of excellent quality at low prices. In the process, Nitori has built a network in the Asian region consisting of many partner companies and of its own factories and trading companies. Along with numerous business partners, Nitori is striving to propose the creation of enjoyable, prosperous, and totally coordinated living spaces to people all over the world.

The Asian market, where significant growth is expected, is important for the realization of Nitori’s mission and vision. Hence, it has positioned the expansion of its store network by accelerating store openings as one of its top priorities. After establishing a trading company in Mainland China in 2000, the Nitori Group opened its first store in Wuhan in 2014. Since then, the Nitori Group had continued to expand, and there are currently 74 stores in Mainland China. In Taiwan, its first store opened in Kaohsiung in 2007, and there are currently 58 stores operating. Supported by many customers, the Nitori Group will continue to expand its store network. In order to achieve the opening of 20 stores in Hong Kong by 2032, the Nitori Group will continue to open new stores in the future.

In 2022, Nitori opened 37 stores in four countries and regions in Asia, including its first stores in Malaysia and Singapore. It opened the first store in Thailand in August this year, which is supported by many customers.

In addition to Hong Kong, Nitori plans to open its first stores in Vietnam, Indonesia, the Philippines, and South Korea. By the end of March 2024, it plans to open 78 new stores in both existing and new countries and regions, bringing the total number of stores in the Asian region to 206. Furthermore, from 2025 and beyond, Nitori plans to open an average of 300 stores per year overseas in order to fulfill its mission and vision.

First Nitori store in Hong Kong
- Opening date: September 2023
- Facility name: MegaBox
- Location: Unit 5 on Level 6 of MegaBox Enterprise Square Five, 38 Wang Chiu Road, Kowloon Bay, Hong Kong
*Details TBA at a later date

Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings Co., Ltd.:
"We have refined our manufacturing-logistics-IT-retail business model in order to provide products and services that 'offer the unexpected' from the point of view of our customers as we make efforts to realize the Group’s mission statement 'To enrich homes of people all over the world.' We are currently expanding that challenge with a focus on Asia. We are very pleased to be able to bring Nitori products to more countries, regions and customers by accelerating our store openings in the Asian region."

Comment from Masanori Takeda, Director, General Manager of Global Merchandising Division, General Manager of Global Sales Promotion Office in Charge of Overseas Sales Business, Nitori Holdings Co., Ltd.:
"We are very pleased to be able to open the store in one of the most leading cities in the world; Hong Kong. We are accelerating our store openings within the Asian region, and had realized the opening of its first store in Thailand in August. The opening of our first store in Southeast Asia in 2022 was a major step toward the realization of our mission and vision for the Nitori Group. From 2023 onwards, we will accelerate the opening of stores in the Asian region. There are still only a few home-furnishing stores in the Asian region that offer both furniture and home-furnishing products. We will continue to take on the challenge of providing the same standards of quality refined in Japan to the Asian region so that we can resolve the 'discontent, dissatisfaction, and inconvenience' and so that more customers can enjoy coordinating various lifestyles and homes around the world."

Comment from Li Na, Assistant Manager of the Management Department, Nitori Hong Kong Co., Limited:
"I joined the Nitori Group in 2005, and had experienced various departments such as product development, store development, and store operations. I am truly happy upon the store opening in Hong Kong since it was my dream ever since joining the company. Through this store opening, I would make further efforts in suggesting wonderful, totally coordinated rooms to customers in Hong Kong, as well as contributing to enriching homes of people all over the world."

Comment from Poon Wai Kin Dennis, Nitori International Scholarship Foundation Alumnus:
"Hong Kong is an important economic base within the Asian region and had offered various cultural and business opportunities. By having Nitori opening in Hong Kong, and by offering high-quality furniture and everyday goods to the customers within the region, we can expect a further growth of a new market. This first store opening in Hong Kong would bring new challenges as well as opportunities, and it would be an incredibly reliable attempt in developing and contributing to the community. I sincerely hope for the success of the first store opening in Hong Kong."

(*) Nitori International Scholarship Foundation
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 and the regions for their tremendous help and support in achieving the goals of Nitori Holdings Co., Ltd. Furthermore, he offers non-repayable scholarships to contribute to further friendship and human resource development around the world. In 2014, Nitori began to provide support to local university students overseas. Since 2021, Nitori has been providing support to universities in Thailand. As of March 31, 2023, it had 9,254 students supported in around 46 countries and regions with a total of 4.22 billion yen.

Map showing students' home countries and regions:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202308258474/_prw_PI2lg_OwnHjRzM.jpg

Nitori International Scholarship Foundation website: https://www.nitori-shougakuzaidan.com/

About Nitori Holdings Co., Ltd. (Nitori Group):
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202308258474/_prw_PI3lg_25zv99Y3.jpg

Corporate website: https://www.nitorihd.co.jp/en/
Integrated Report: https://www.nitorihd.co.jp/en/ir/library/annual.html
NITORI Hong Kong: https://www.nitori.com.hk

Nitori Group Accelerating Store Openings in Asia: Opening Its First Store in Thailand in August 2023

Nitori Holdings — Wed, 09 Aug 2023 15:00:00 +0900

SAPPORO, Japan, Aug. 9, 2023 /Kyodo JBN/ --
Nitori Holdings Co., Ltd.
Nitori Holdings Co., Ltd. based in Sapporo, northern Japan, has announced the opening of its first Nitori store in Thailand aiming to accelerate more store openings in the Asian market. The first Thai store will open at the end of August 2023 in centralwOrld, a global landmark at the heart of Bangkok.

Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202307267526/_prw_PI1fl_T7eQNwOb.jpg

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 of people all over the world." The main business of the Group is opening "Nitori" stores that sell furniture and home-furnishing products. The Nitori Group also operates "Deco Home" stores that sell home-furnishing products with a focus on daily necessities, "Shimachu" home improvement stores that sell hardware, daily goods and furniture, and "N Plus" stores that sell apparel for adult women. Nitori has opened 793 stores in Japan and 137 stores in Mainland China, Taiwan, Malaysia, and Singapore, with a total of 930 stores operating around the world.

The Nitori Group has built a business model, encompassing everything from product planning to manufacturing, distribution, and sales, in order to provide a wide variety of products that "offer the unexpected" and are of excellent quality at low prices. In the process, Nitori has built a network in the Asian region consisting of many partner companies and of its own factories and trading companies. Along with numerous business partners, Nitori is striving to propose the creation of enjoyable, prosperous, and totally coordinated living spaces to people all over the world.

The Asian market, where significant growth is expected, is important for the realization of Nitori’s mission and vision. Hence, it has positioned the expansion of its store network by accelerating store openings as one of its top priorities. Thailand, in particular, has a deep connection with the Nitori Group. Although it will begin its business for Thai consumers with the opening of the new store, it had established a trading company back in 1999, which has been responsible for the Nitori Group's supply chain management in the Southeast Asia region. Nitori also has a factory (SIAM NITORI) that manufactures environmentally friendly carpets and rugs through a unique business model, using raw materials mainly derived from recycled plastic bottles and then manufacturing the entire process in-house. In addition, the Nitori Group has a strong and extensive network with numerous suppliers that have been in charge of manufacturing Nitori Group products for many years. In order to build its store network in Thailand, Nitori plans to open 25 stores over the next five years.

In 2022, Nitori opened 37 stores in four countries and regions in Asia, including its first stores in Malaysia and Singapore. In addition to Thailand, Nitori plans to open its first stores in Vietnam, Indonesia, the Philippines, Hong Kong, and South Korea. By the end of March 2024, it plans to open 78 new stores in both existing and new countries and regions, bringing the total number of stores in the Asian region to 206. Furthermore, from 2025 and beyond, Nitori plans to open an average of 300 stores per year overseas in order to fulfill its mission and vision.

First Nitori store in Thailand
- Opening date: End of August 2023
- Facility name: centralwOrld
- Location: Unit B539, 4, 4/1-4/2, 4/4 Rajdamri Rd., Pathumwan, Bangkok 10330 (Zone I, 5th Floor, centralwOrld)
*Details TBA at a later date

Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings Co., Ltd.:
"We have refined our manufacturing-logistics-IT-retail business model in order to provide products and services that 'offer the unexpected' from the point of view of our customers as we make efforts to realize the Group’s mission statement 'To enrich homes of people all over the world.' We are currently expanding that challenge with a focus on Asia. We are very pleased to be able to bring Nitori products to more countries, regions and customers by accelerating our store openings in the Asian region."

Comment from Masanori Takeda, Director, General Manager of Global Merchandising Division, General Manager of Global Sales Promotion Office in Charge of Overseas Sales Business, Nitori Holdings Co., Ltd.:
"The opening of our first store in Southeast Asia in 2022 was a major step toward the realization of our mission and vision for the Nitori Group. From 2023 onwards, we will accelerate the opening of stores in the Asian region. There are still only a few home-furnishing stores in the Asian region that offer both furniture and home-furnishing products. We will continue to take on the challenge of providing the same standards of quality refined in Japan to the Asian region, so that we can resolve the 'discontent, dissatisfaction, and inconvenience' and so that more customers can enjoy coordinating various lifestyles and homes around the world."

Comment from Anucha Buala, a member of the Store Openings and Remodeling team, Store Operational Department, Nitori Retail (Thailand) Co., Ltd.:
"I joined the Nitori Group in 2011. I have been engaged in product development and quality control in order to meet the needs of customers so that they could feel happy by using products from Nitori. My dream was to be involved in the opening of the first store in Thailand for more than 10 years, and I am truly happy to be able to fulfill my dream. All of us employees would continue to do our very best in enriching homes of people in Thailand and all over the world."

Comment from a member of the Nitori International Scholarship Foundation (*) in the Department of Japanese Language, Faculty of Humanities, Kasetsart University:
"Congratulations on the opening of the first store in Bangkok. Furthermore, thank you for supporting our university with scholarships. As a result, our students are working hard to focus on their studies in order to strive for their dreams. We would like to express our profound gratitude for your support, and we sincerely hope for the further growth of your company."

(*) Nitori International Scholarship Foundation
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, he offers non-repayable scholarships to contribute to further friendship and human resource development around the world. In 2014, Nitori began to provide support to local university students overseas. Since 2021, Nitori has been providing support to universities in Thailand. As of March 31, 2023, it has supported 9,254 students in around 46 countries and regions with a total of 4.22 billion yen.

Map showing students' home countries and regions: https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202307267526/_prw_PI3lg_8jr2i58n.jpg

Nitori International Scholarship Foundation website (in Japanese): https://www.nitori-shougakuzaidan.com/

About Nitori Holdings Co., Ltd. (Nitori Group): https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202307267526/_prw_PI2lg_j614NFE3.jpg

Corporate website: https://www.nitorihd.co.jp/en/
Integrated Report: https://www.nitorihd.co.jp/en/ir/library/annual.html
NITORI Thailand: https://www.nitori.co.th

Nitori Expanding into Southeast Asia, Opening Its First Store

Nitori Holdings — Thu, 16 Dec 2021 15:00:00 +0900

SAPPORO, Japan, Dec. 16, 2021 /Kyodo JBN/ --
Nitori Holdings Co., Ltd.
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/