CCC and Sojitz sign comprehensive franchise agreement with local Cambodian company ULS to open 6 TSUTAYA BOOKSTORE stores in Cambodia by 2034

*View in browser* *Culture Convenience Club Co., Ltd.*
Press release: May 9, 2024
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CCC and Sojitz sign comprehensive franchise agreement with local Cambodian company ULS to open 6 TSUTAYA BOOKSTORE stores in Cambodia by 2034
*～First store scheduled to open in the capital Phnom Penh in 2025～* Culture Convenience Club Co., Ltd. (Headquarters: Shibuya-ku, Tokyo, President and CEO: Yoshinori Takahashi, hereinafter referred to as “CCC”) and Sojitz Corporation (Headquarters: Chiyoda-ku, Tokyo, President and COO: Kosuke Uemura, TSUTAYA, a joint venture of BOOKS Malaysia Sdn. Bhd. (Headquarters: Kuala Lumpur, Malaysia, Chief Executive Officer: Hideyuki Uemoto (hereinafter referred to as “TBM”) is Urban Living Solutions, which operates development and hotel businesses in Cambodia.
Co., Ltd. (URBAN LIVING SOLUTIONS, hereinafter referred to as ULS) and “TSUTAYA” in Cambodia by 2034.
We have concluded a comprehensive franchise agreement to open six BOOKSTORE (hereinafter referred to as “TBS”) stores.
Open 6 TSUTAYA BOOKSTORE stores in Cambodia by 2034
With the conclusion of this agreement, the first TSUTAYA store in Cambodia will be opened in Phnom Penh, the capital of Cambodia, in 2025.
BOOKSTORE”, and we will inform you of detailed store opening information at a later date.

* ■Background and thoughts behind expanding into Cambodia *
Cambodia has continued to enjoy stable economic growth with a GDP growth rate of approximately 7% per year even after the Lehman Shock. Although there was negative growth in 2020 due to the impact of the new coronavirus, there was positive growth in 2021 and 2022, and high economic growth is predicted to continue in the future. (Ministry of Foreign Affairs Cambodia basic data)

Cambodia, which is experiencing significant economic growth, has a current population of approximately 17.2 million (2022 United Nations Population Fund), which is predicted to increase to approximately 20.25 million in 2050 (Source: Worldometer).
– real time world
Based on the fact that the country is expected to achieve significant economic development in the future, as well as being a pro-Japanese country with the Japanese flag printed on its currency, we decided to conclude a comprehensive franchise agreement with TSUTAYA.
BOOKSTORE” has been decided to enter the market.

Through TBM, Cambodia will work with ULS to create a new type of bookstore in Cambodia, with the aim of contributing to the development of culture and proposing lifestyles that enrich people’s lives.

* ■Overview of comprehensive contract company *
* -CCC-*
CCC’s overseas business includes a total of 11 “TSUTAYA BOOKSTORE” stores in Taiwan, and “TSUTAYA BOOKSTORE” and “TSUTAYA BOOKSTORE” in mainland China.
BOOKSTORE” with a total of 12 stores, and in Malaysia, “TSUTAYA Shoten” and “TSUTAYA
We have opened 2 “BOOKSTORE” stores in total. In the future, we will work to strengthen our business in the Asia-Pacific region.

* -ULS-*
Urban Living Solutions (ULS), founded in 2016, is a Cambodian-owned real estate and lifestyle development company based in Phnom Penh, including a luxury hotel under the IHG Vignette Collection brand scheduled to open in 2027. We develop residential, commercial, and retail properties. Additionally, ULS will operate multiple food and beverage businesses and aim to develop TSUTAYA in Cambodia by 2034. Responsible for opening and operating 6 BOOKSTORE stores.
*Photo left: TBM CEO Uemoto, photo right: ULS founder Kim Lian Keen Comment from Founder and Managing Director Kim “Leang” Kean
“The brand value provided by TSUTAYA BOOKSTORE and ULS’ vision of “enriching the lives of people in Cambodia” are the same.
TSUTAYA
We believe that BOOKSTORE’s beautiful and distinctive space and unique product lineup will allow Cambodians to connect through books and lifestyles, explore their intellectual curiosity, and provide encounters that will satisfy them. ”
* [TSUTAYA BOOKS Malaysia Company Profile] *
■Company name: TSUTAYA BOOKS Malaysia Sdn.Bhd
■Location: Level 23, Menara IMC, No8, Jalan Sultan Ismail, 50250, Kuala Lumpur, Malaysia
■Chief Executive Officer: Hideyuki Uemoto
■Corporate site: https://www.ccc-my.com/
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