Japanese convenience store Circle K Sunkus is heading abroad with its first store to open in Malaysia next year.

The company said next month it will set up a joint venture with local company Kumpulan Mofaz, which is engaged in several businesses including automotive, domestic trading and hospitality and services.

Circle K Sunkus will own 30 per cent of the joint venture while the Malaysian company will hold the remaining 70 per cent.

The joint venture targets to open 300 stores in three years with first store to open in Kuala Lumpur.

In today’s tougher business environment domestically, the need to expand overseas is more pressing than ever, hence, the expansion in Malaysia, said the company.

Motohiko Nakamura, president of Circle K Sunkus, said the company is also in talks with US-based business partner Circle K Stores for a potential joint venture in Asia.

The US-based Circle K Stores already has stores in some parts of Asia such as China, Indonesia and Vietnam.

Circle K Sunkus is a division of Uny, a supermarket operator in Japan which also licensed the Circle K brand from Alimentation Couche-Tard, a Canadian convenience store company that owns the brand.

GB