Book Off Group Holdings and Itochu Corporation have announced a capital and business partnership aimed at enhancing the overseas expansion of Book Off using Itochu's global network.
On the 18th, the Book Off Group Holdings (GHD) and Itochu Corporation announced a capital and business alliance. This partnership is designed to support Book Off's international expansion, leveraging Itochu's extensive overseas network. Notably, Itochu plans to acquire approximately 870,000 shares of Book Off GHD from existing shareholders, representing a 5.01% stake, for a substantial investment estimated to be in the range of several billion yen.
Book Off GHD operates stores that specialize in the buyback and sale of second-hand books and other items such as trading cards and DVDs. The company has a strong presence in Japan and has expanded internationally, with around 840 locations across countries including the United States and Malaysia. As the global market for second-hand products continues to grow, this partnership is anticipated to further enhance Book Off's ability to establish stores in more countries by utilizing Itochu's international infrastructure.
Moreover, Itochu has plans to explore synergies through its subsidiary, FamilyMart, which is a major convenience store chain in Japan. One potential initiative could include the installation of buyback lockers in FamilyMart locations, providing a convenient option for customers who may not have nearby access to Book Off stores. Such collaboration could enhance customer convenience and tap into the rising demand for reused goods, aligning with the global trend towards sustainability and recycling.
