East Japan Railway Co. is expanding its operations into Singapore with new JR East metro station stores launching in island’s metro stations.
The firm is planning to set up store clusters at 27 out of the 32 stations on the Thomson-East Coast Line, which will be partially operational by the end of the year. It is the first Japanese railways firm to start up commercial operations in another country.
The firm’s contract to establish JR East metro station stores along the line was secured via its local unit along with SMRT Experience and store chain operator NTUC Fairprice Co-operative for S$24 million (US$17.3 million) last month. The three partners will trade as Stellar Singapore, in which JR East will hold a 35 per cent shareholding.
Under the terms of the agreement, Stellar Singapore will rent 5000sqm of total floor space at the stations under a 16-year lease. The largest single shopping centre will cover 1570sqm at Woodlands Station.