The largest departmental chain in Japan, FamilyMart, is seizing its US investments and withdrawing its Famima c-store concept, which is not bringing profit to the company anymore.

In 2008, the Tokyo-based FamilyMart had established a 10-store departmental chain in the US called Famimia but unfortunately, the chain has been facing serious losses.

FamilyMart’s President Junji Ueda revealed the company’s expansion plans in an interview to the Reuters. He said that the company is moving faster than before with ambitious plans to extend operations in the China region. FamilyMart has big plans to launch 4,500 outlets by 2016 in China.

FamilyMart’s aggressive expansion plan emphasizes that the company would only concentrate on launching newer outlets in the Asian region with newer business models. The company is considering many other options, where innovative business models can be implemented after pulling our investments from the US markets.

CSP Daily has laid down a Corporate Profile of FamilyMart below:

FamilyMart, like Seven & I Holdings, Lawson Inc. and other c-store chains in Japan, faces weak growth prospects in a competitive marketplace with a shrinking population and persistent profit-sapping deflation. The tough retail environment has prompted major c-store operators to step up their expansion overseas.

As of last month, FamilyMart had a little more than 8,000 franchises in Japan and more than 8,800 outlets overseas, including stores in China, South Korea and Southeast Asia. It is aiming for 15,500 overseas outlets among 25,000 stores globally by February 2016.

Torrance, Calif.-based Famima Corp. was founded in 2004 and is committed to bringing gourmet-quality c-stores to the US market.