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KDDI To Buy Stake In Convenience Store Chain Lawson

Published on Dec 16 2019 8:40 AM in Retail tagged: Japan / World News / Lawson / KDDI Corp

KDDI To Buy Stake In Convenience Store Chain Lawson

Japanese telecom company KDDI Corp will pay more than 12 billion yen (€99 million) for about a 2% stake in convenience store chain Lawson as the pair tie up in smartphone payment services, the Nikkei Shimbun reported.

The tie-up will include Lawson's parent company, Mitsubishi Corp, the newspaper said on Monday.

KDDI's president will hold a joint news conference with the presidents of Lawson and Mitsubishi Corp's consumer products group at 4:30pm (0730) in Tokyo, the telecom company said in an email.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

 

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