Japanese convenience store rivals Lawson and Three F say they are “discussing options” for a capital and business alliance.

The move was announced in a statement which was short on detail.

Lawson, a subsidiary of Mitsubishi Corporation, is Japan’s second largest c-store operator behind 7-Eleven with a network of more than 11,500 stores in Japan, Indonesia, China and Thailand. Three F Co, headquartered in Yokohama, operates only in Japan where it has about 560 stores in Tokyo, Chiba, Saitama and Kanagawa.

In the statement, the companies said an alliance would help boost their convenience store operations in an extremely competitive environment. Japan is a mature market, which is main reason its convenience store players are seeking growth offshore.

While both companies will maintain independent management and protect their individual corporate brands and culture, they would conduct joint product development, procurement and promotional campaigns, and also share information that could boost management efficiency.

“Both companies are determined to discuss ideas frankly and openly, with the aim of creating a concrete, workable alliance agreement. Further developments will be announced once they are finalised,” the statement said.