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Report: FamilyMart's UNY to divest Hong Kong, Japan units

FamilyMart UNY Holdings Co. Ltd.-owned Japanese general merchandiser Uny Co. Ltd. will offload its shares in Uny Hong Kong to a retailing unit of Hong Kong real estate company Henderson Land Development Co. Ltd. and its entire stake in Japanese apparel retailer Molie Co. Ltd. to Tokyo-based gf.A, the Nikkei Asian Review reported May 24.

The report said the transactions could be worth a total of nearly ¥6 billion (US$54.5 million).

UNY's four general merchandise stores under its Apita, Piago and other brands will keep their names but will be operated by the new Hong Kong-based owner through a licensing contract, the Nikkei said.

UNY will also sell off Molie to gf.A. after the unit recorded a net loss for four consecutive years, according to the report. The Japanese buyer reportedly will assume all of Molie's liabilities of about ¥2 billion.

The report added that UNY plans to use the proceeds of the sales to renovate its existing general merchandise stores in Japan, to double its investments to ¥6.5 billion in fiscal 2018 and to bolster its financial operations, including credit card and electronic money services.