Kinokuniya Company, which has sold online in Japan since 1996, plans to start an online business next year in Singapore, Malaysia, Thailand and other Asian countries "to stay one step ahead of Internet giant Amazon.com," according to the Asahi Shimbun. In this part of the world, Amazon so far has country operations in Japan, China and India.
Speaking at a news conference yesterday, Kinokuniya president Masashi Takai said, "Utilizing our many years of experiences in those countries (as a conventional bookstore), we will make a move." Excluding Japan, the company has 18 bookstores in seven countries in Asia and Oceania. This weekend Books Kinokuniya is celebrating the 30th anniversary of its opening in Singapore, where it sells some 500,000 titles on BookWeb Singapore.
Kinokuniya and the Innovation Network Corp. of Japan, an investment fund, will invest a total of up to 2 billion yen (about US$20.6 million) in the new venture, Asahi Shimbun said. Kinokuniya plans to sell printed books and e-books in English, Japanese, Chinese and local languages, stationery and other products online.