Isetan Mitsukoshi and CCC reach basic agreement on comprehensive partnership

2015.10.02 Press Releases
Isetan Mitsukoshi Holdings Ltd. / Culture Convenience Club Co., Ltd.

Isetan Mitsukoshi Holdings Ltd. (Head office: Shinjuku-ku, Tokyo; Representative Director, President and CEO: Onishi Hiroshi; hereinafter, "Isetan Mitsukoshi") and Culture Convenience Club Co., Ltd. (Head office: Shibuya-ku, Tokyo; Representative Director, President and CEO: Masuda Muneaki; hereinafter, "CCC") are pleased to announce that they have today signed a memorandum of understanding (MOU) for a comprehensive partnership centered on the establishment of a new company to promote marketing business.

■ Background and purpose of the basic agreement
Isetan Mitsukoshi owns some of Japan's leading department stores, including the Isetan Shinjuku flagship store, the Mitsukoshi Nihombashi flagship store, and the Mitsukoshi Ginza store, and is constantly striving to provide new value to its customers by creating new, high-quality lifestyles.
CCC proposes new lifestyles to the world through database marketing centered around "T Points," Japan's largest shared points service used by over 55 million T members, and through the planning of lifestyle-oriented commercial facilities such as "T-SITE," "Tsutaya Bookstore," and "Tsutaya Electrics."
The purpose of this alliance is to accelerate the realization of each company's group vision (Isetan Mitsukoshi: "The world's leading retail service group"; CCC: "The world's leading planning company") by organically combining the assets of both companies.

■ Main points of the basic agreement regarding the partnership
- A new marketing company will be established that utilizes the know-how of both companies (investment ratio: Mitsukoshi Isetan: 51%, CCC: 49%).
- Starting in spring 2016, T Points will be available for use at Mitsukoshi Isetan's domestic department store subsidiaries.
The two companies will jointly consider planning and developing new businesses, such as lifestyle-oriented commercial facilities.
Other details will be announced as soon as they are confirmed.

Materials related to this matter

Isetan Mitsukoshi and CCC reach basic agreement on comprehensive partnership

Inquiries regarding this matter
Culture Convenience Club Co., Ltd.
Public Relations Officer: Ando
TEL: 03-6800-4464