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Japan's Family Mart firms up Philippine investment

Family Mart president Junji Ueda shakes hands with PNoy. means BUSINESS

MANILA - Executives of the world's second largest convenience store chain on Wednesday called on President Benigno Aquino III to firm up their investment in the Philippines.

Family Mart Ltd president Junji Ueda led the party, which included managing director Masaaki Kosaka and Itochu Corp Manila general manager Kenichi Hisatomi.

The courtesy call comes a month after Ayala Land Inc and the Rustan's Group announced that they had tied up to bring Family Mart to the Philippines in a bid to shake up a market divided between 7-Eleven and Mini Stop.

Family Mart has over 20,000 stores in Japan, Taiwan, South Korea, Thailand, China, the United States, Vietnam and Indonesia. Itochu is Family Mart's largest shareholder. Both companies are listed in the Tokyo Stock Exchange.