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Aug. 03, 2012
Sumitomo Corporation

Agreement to Consider Establishing a new TV Home Shopping Company in Thailand

Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and CEO: Kuniharu Nakamura), I.C.C. International Public Company Ltd. and Central Retail Corporation Limited have agreed to enter into a further discussion about establishing a new TV home shopping company in Thailand.

 

Sumitomo Corporation have been managing Jupiter Shop Channel co. ltd, a leading pioneer of TV home shopping in Japan, since its establishment in 1996. For further growth of Jupiter Shop Channel co. ltd, they have been seeking for opportunities to expand its business to Asian countries. I.C.C. International Public Company is a consumer products distributing company of SAHA group, one of the major conglomerates in Thailand, and Central Retail Corporation is a retail arm member of Central Group, one of the largest and most successful conglomerates in Southeast Asia today. Both the two companies have broad experience and knowledge about consumer market in Thailand. Supported by the steady rising of income levels, Thai consumer market is one of the most growing markets in Southeast Asia, and the consumer preference in Thailand is becoming sophisticated and diversified by the expansion of middle and upper class in recent years. By leveraging each of the Sumitomo Corporation, SAHA group and Central Retail Corporation's strength, the established company aims to generate THB 5 billion sales in its fifth year while becoming a leading TV home shopping company in the country.
Sumitomo Corporation will lead the management of the new company with Jupiter Shop Channel co. ltd through applying the business know-how that has been cultivated through the experience of managing 24 hour live broadcasting TV home shopping business in Japan.

 

Sumitomo Corporation sets "Enhancing integrated corporate strength on a global basis" as an action plan for the medium-term management plan f(x)(FY2011-2012). Media, Network & Lifestyle Retail Unit will continue to seek for a dominant business partner within Asia in likewise this case and will accelerate expanding its successful retail business model to overseas.

<Profile of the new company>

-- Official company name and capital to be decided through discussion
-- Purpose of establishment Developing a multimedia retail business in Thailand
-- Platform TV and internet (including PC and mobile)
-- Merchandising High-end oriented products such as jewelry, cosmetics, electronics fashion and foods, etc.
-- Location Bangkok, Thailand
-- Ownership Sumitomo Corporation Group (including Jupiter Shop Channel co. ltd): 40%,
I.C.C. International Public Company : 30%,
Central Retail Corporation : 30%
-- Broadcasting launch date Trial early 2013(target)
Full-scale June 2013(target)
-- Main role of the shareholders [Sumitomo Corporation group] Providing JSC's 24 hour broadcasting TV home shopping operation know-how.
[I.C.C. International Public Company, a member of SAHA group]
- Assisting merchandising by proposing suitable products and local-oriented consumer needs based on their expertise in distributor.
- Providing operation facilities.
[Central Retail Corporation, a member of Central Group]
- Assisting merchandising by giving advice on selection of suitable high-end products that matches local-oriented consumer needs based on their expertise in retail.
- Providing trust and brand image that has been built up as the largest retail group in Thailand.

<Profile of SAHA Group>

-- Official name of the group SAHA Group
-- Number of companies in the group Over 200 companies
-- Location Bangkok, Thailand
-- Business outline SAHA Group is one of the largest manufacturing wholesaler of consumer products in Thailand.
They manufacture and distribute a wide variety of consumer products such as apparel, cosmetics, foods and household items, etc. They deal with about 1,000 brands of products inside and outside Thailand.
-- Center firms Distributing Companies (I.C.C. International Public Company Ltd., Saha Pathanapibul Public Company Ltd.), Manufacturing Companies (Thai president foods Public Company Ltd., Thai Wacoal Public Company Ltd.)
-- Sales 12,825 Million Baht (2011 sales of I.C.C. International Public Company Ltd.)

<Profile of Central Retail Corporation>

-- Official name of the company Central Retail Corporation Limited
-- Subsidiaries Over 40 companies
-- Location Bangkok, Thailand
-- Business outline Central Retail Corporation is the largest retailer in Thailand developing over 580 stores such as department stores, supermarkets and specialty stores, etc. They have accelerated expanding its retail business to overseas. For example, they acquired La Rinascente, a famous department store in Italy in 2011.
-- Center firms in Thailand Department Stores (Central Department Store, Robinson Department Store, Zen)
Specialty Stores ( PowerBuy, Supersports, B2S, Homework, Office Depot, Thai Watsadu)
Supermarkets ( Central Foodhall, Tops Market, Tops Super, Tops Daily) and Central Embassy.
-- Sales 107,000 Million Baht (sales of 2011)

 

Inquiries

Corporate Communications Department,
Sumitomo Corporation

TEL:+81-3-5166-3100News Release Contact Form

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