Mitsubishi-Robinsons joint venture opens 1st Mini Stop outlet in RP

Mini Stop, a convenience store chain owned by the Mitsubishi Group of Japan, has started its foray into the local market in partnership with the Robinsons retail chain of the Gokongwei Group.

The two groups have formed a joint venture called Robinsons Convenience Stores Inc. (RCSI) which opened yesterday its first outlet at the MRT station at EDSA Central. RCSI vice chairman James Go said they plan to open 1,000 stores in 10 years, double their original target of 500 stores.

"We will expand as the market accepts us; we are driven to this challenge," he said. Frederick Go, RCSI executive vice president, estimated that they would be spending about P3 billion to support the operations of these stores, most of which would be farmed out under franchise agreements.

RCSI is the corporate vehicle for the local Mini Stop chain, which has over 1,500 outlets in Japan and Korea and with consolidated annual sales of $2 billion. RCSI is 56 percent controlled by Gokongwei’s JG Summit group; 40 percent by Mitsubishi Corp.; and four percent by Jusco, a subdsidiary of Mini Stop Japan.

In his remarks, Mitsubishi Corp. managing director Masaharu Goto said he has "high expectations" on the project – Mitsubishi’s first investment in a convenience store in the Philippines. The venture also marked the first time Mini Stop expanded its reach outside of Japan and Korea.

"In our own way, we hope to contribute and magnify our confidence in the Philippine economy with this investment," Goto said. He added that with Mitsubishi’s vaunted resources and experience, "we are prepared to support Mini Stop in its drive to be the number one convenience store company in the Philippines."

Mitsubishi has an existing partnership with the Gokongwei group in another food-related business – noodle, manufacturing through the Universal Robina Corp. – Nissin’s plant in Cavite.

For the first part of this year alone, RCSI plans to open 10 Mini Stop stores, increasing these to 30 by the end of the year. After EDSA Central, more outlets will sprout within the next few weeks in areas such as Escolta, Parañaque, Pasay, Quezon Boulevard and Ortigas.

By comparison, Mini Stop’s leading competitor was able to establish less than 200 outlets in about 15 years.

Also, the store will offer a wider assortment of merchandise ranging from personal care to food products – about 2,000 items – with an added twist: the standard fast food counter with an extensive selection of items such as in-store prepared sandwhiches, pasta, chicken, fries, sundae and the unique Cream Twist and Kariman sandwich from Japan, which can all be consumed in a dining area with comfortable seating facilities.