TEMPO.CO, Jakarta - Alfamart Group officially acquires a majority of shares of the Japanese convenience store chain Lawson in Indonesia. The retail management issuer Alfamart, PT Sumber Alfaria Trijaya Tbk. (AMRT) bought 70 percent of Lawson's shares, equivalent to 1.48 billion shares, from PT Midi Utama Indonesia Tbk. (MIDI).
Alfamart has signed a Deed of Sale and Purchase of Lawson's shares worth Rp 200.4 billion. The Director and Corporate Secretary of Midi Utama, Suantopo Po, said that the signing of the Deed of Sale and Purchase fulfills the preliminary requirements set in the conditional share purchase agreement submitted by MIDI on April 9, 2025.
Why Was Lawson Sold to Alfamart?
The Corporate Secretary of Alfamidi, Suantopo Po, said that the sale of Lawson stores was due to its insignificant contribution to the company's net income. In the 2024 annual financial report, Lawson's contribution to MIDI's income was only 6.8 percent, which decreased to 4.3 percent in the first quarter of 2025.
"The contribution of LWS's income to the Company's net income is not significant," he said in the disclosure of information on the Indonesia Stock Exchange, Thursday, May 22, 2025.
Therefore, through this transaction, MIDI hopes to improve and enhance the company's financial performance. In addition, the sale of these stores is also aimed at allowing MIDI to focus on retail trading, which is the company's business portfolio. "It is expected to provide added value for all shareholders of the company in the future," said Suantopo.
Furthermore, Suantopo admitted that throughout 2024, MIDI had closed 300 Lawson stores. According to him, the opening or closing of stores in business is a common phenomenon.
However, when closing Lawson stores, there are several reasons, such as the building owners not wanting to extend the contracts due to the business potential in the store's area. "As a result, the store's financial performance became infeasible to continue its operations," he said.
Suantopo also revealed that the funds obtained from this transaction will be used to support capital spending. In addition, through this corporate action, the company can focus on its retail trading business portfolio. "This transaction is one of the strategic steps of the company," he said.
After this transaction, Suantopo hopes that MIDI can improve and enhance the company's financial performance, both in terms of profit and loss statements and cash flow. "Thus, it is expected to provide added value for all shareholders of the company in the future," said Suantopo.
Adil Al Hasan contributed to this report.
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