HMV eyes Japanese market
HMV says it's planning to expand into Japan following its floatation on the stock market in July.
Chief executive Alan Giles says the group sees huge potential in the Japanese market.
HMV, which has been in Japan for 12 years, has 34 stores and plans to grow to 100 in the next 4-5 years, he said.
The group aims to become the market leader in Japan where it currently has a 6% market share.
Mr Giles said: "I think there is enormous scope for new HMV outlets in the UK and Japan."
In the UK the company owns 135 HMV stores making it the UK's number 1 record seller with a 23% market share.
"Again, in the medium term we can easily go to 200 in the UK," said Mr Giles.
In Canada HMV plans to grow from its current 98 stores to 140 in the next 4-5 years. HMV Group owns 600 HMV record stores worldwide and 200 Waterstone bookshops, mainly in Ireland and the UK.
