Japanese firms to open Chinese virtual mall: Nikkei
About 100 Japanese firms will begin selling products via an Internet site in China next month, targeting combined sales of 4 billion yen ($44 million) in the first year of operation, the Nikkei business daily reported on Friday.
The Shanghai-based settlement network operator China UnionPay Co and Sumitomo Mitsui Card Co are among the partners that will jointly run the virtual mall, the report said.
The firms considering selling products via the system include electronics retailer Yodobashi Camera Co, drugstore chain Matsumotokiyoshi Holdings Co, mail order catalog sales firm Cecile Co and children's clothing retailer Narumiya International Co, the Nikkei said.
SBI VeriTrans Co will operate the website and handle customs procedures, with China Post delivering the goods in China, Reuters reported.
A specialized distribution center in Japan will enable the delivery of products by air to Chinese consumers as soon as two days after ordering, the report said.
Some 20,000 different products are expected to be available on the site, enabling Chinese consumers to buy Japanese products currently not available at local stores, the Nikkei said.