Yaohan
Encyclopedia
Yaohan was a Japan
ese retail group. The company was founded in 1930 by Kazuo Wada (和田一夫). Initially a single shop, it later expanded into a major supermarket chain after the Second World War with most retail outlets located in Shizuoka prefecture
, south of Tokyo
. It was listed on Tokyo Stock Exchange
. The store was far more established and notable outside Japan, such that by the time it opened its first store in the Tokyo
metropolitan area, the company was already in a state of decline due to accumulated debts from over-expansion.
, California
, and Hawaii. At its peak, it had 450 outlets in 16 countries, including 9 in Hong Kong
, as well as some in Los Angeles
, Honolulu, London
, and San Jose, California
. Yaohan's first American location, at Fresno, Calif., was opened in 1979.
, Penang. Later it opened in Terminal 1, Seremban in 1996 and Sunway Pyramid
, Petaling Jaya in Sept 1997. All former stores were replaced by Aktif Lifestyle Corporation Bhd. and later Parkson
.
in 1974 at Plaza Singapura
revolutionised the grocery shopping experience in Singapore
, and it quickly became a household name. Other stores were also opened in Thomson Plaza (1979), Bukit Timah
(1982), Jurong
(1983), and Parkway Parade
(1983). The Jurong store was closed in 1989, and a new store planned at the International Merchandise Mart was due to open in 1990. The sixth store was supposed to open in Kovan
Shopping Centre in 1993. Also in operation in Singapore since 1985 was the Yaohan Best chain, specializing in electronics, which first opened in Yaohan's store space.
as Yaohan International Company Limited until 11 August 1998. Through a combination of the 1997 Asian financial crisis and the stagnation of the Japanese retail market, however, the group declared bankruptcy
with 161 billion yen of debts. It was the biggest postwar failure in Japan's retail sector at the time. The super-market chain asked for protection from creditors under Japan's Corporate Rehabilitation Law on 18 September 1997. Many outlets were closed.
In March 2000, Yaohan in Japan was bought by ÆON Group and changed its name to Maxvalu Tokai
. Other stores in the U.S.
were bought by Mitsuwa, Maruwa, and Marukai, the latter two based in Los Angeles
.
A former Yaohan department store in Macau
is operating under the trading name New Yaohan (新八佰伴), operated by Yaohan International Company Limited in Hong Kong which is locally owned and no longer has a connection with the Wada family. Yaohan Best has been renamed as Best Denki
.
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
ese retail group. The company was founded in 1930 by Kazuo Wada (和田一夫). Initially a single shop, it later expanded into a major supermarket chain after the Second World War with most retail outlets located in Shizuoka prefecture
Shizuoka Prefecture
is a prefecture of Japan located in the Chūbu region on Honshu island. The capital is the city of Shizuoka.- History :Shizuoka prefecture was formed from the former Tōtōmi, Suruga and Izu provinces.The area was the home of the first Tokugawa Shogun...
, south of Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
. It was listed on Tokyo Stock Exchange
Tokyo Stock Exchange
The , called or TSE for short, is located in Tokyo, Japan and is the third largest stock exchange in the world by aggregate market capitalization of its listed companies...
. The store was far more established and notable outside Japan, such that by the time it opened its first store in the Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
metropolitan area, the company was already in a state of decline due to accumulated debts from over-expansion.
Growth
During the 1990s, the Yaohan group expanded dramatically outside Japan, especially into the People's Republic of ChinaPeople's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, and Hawaii. At its peak, it had 450 outlets in 16 countries, including 9 in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, as well as some in Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, Honolulu, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, and San Jose, California
San Jose, California
San Jose is the third-largest city in California, the tenth-largest in the U.S., and the county seat of Santa Clara County which is located at the southern end of San Francisco Bay...
. Yaohan's first American location, at Fresno, Calif., was opened in 1979.
Malaysia
The first Yaohan store was opened in The Mall, Kuala Lumpur in 1987. It was later followed by Plaza OUG and Bandar Park in Jalan Klang Lama, and KOMTARKOMTAR
Komtar Tower, or Menara Komtar Complex is Penang's tallest building and the sixth tallest building in Malaysia located in the heart of George Town, dominating the island's skyline. KOMTAR is a portmanteau of Kompleks Tun Abdul Razak. When the skyscraper topped out it was the second tallest building...
, Penang. Later it opened in Terminal 1, Seremban in 1996 and Sunway Pyramid
Sunway Pyramid
Sunway Pyramid is a distinctive retail landmark located in the heart of Bandar Sunway, Petaling Jaya. It was opened in July 1997 as Malaysia's first themed shopping and entertainment mall....
, Petaling Jaya in Sept 1997. All former stores were replaced by Aktif Lifestyle Corporation Bhd. and later Parkson
Parkson
Parkson is a popular department store company in Malaysia which offers items at a medium rate. Parkson was established in 1987 as one of the largest retail chains in Malaysia at that time...
.
Singapore
Its first store to open in SingaporeSingapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
in 1974 at Plaza Singapura
Plaza Singapura
Plaza Singapura is a contemporary shopping mall located along Orchard Road, Singapore. The mall is managed by CapitaLand and owned by CapitaMall Trust. There are retail outlets over seven floors and two basements. The mall has a 752 lot seven storey carpark at the rear of the building, and a two...
revolutionised the grocery shopping experience in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, and it quickly became a household name. Other stores were also opened in Thomson Plaza (1979), Bukit Timah
Bukit Timah
Bukit Timah is an area in Singapore and a hill in that area. Bukit Timah is located near the centre of the Singapore main island. The hill stands at an altitude of 163.63 metres and is the highest point in the city-state of Singapore...
(1982), Jurong
Jurong
Jurong is the largest town in the western part of Singapore, consisting of 11 residential precincts, 14 industrial districts, 1 military zone and 1 Waterfront district. It resembles Woodlands, the largest town in the northern part of Singapore, which is smaller in size, has smaller industrial area...
(1983), and Parkway Parade
Parkway Parade
Parkway Parade is a suburban shopping centre in Marine Parade, Singapore. Opened on March 9, 1984, it has a 17-floor office tower and a seven-storey shopping mall with a basement. Developed by Parkway Holdings, the company sold the building away in 2000 to Asia Pacific Investment Company and is...
(1983). The Jurong store was closed in 1989, and a new store planned at the International Merchandise Mart was due to open in 1990. The sixth store was supposed to open in Kovan
Kovan
Kovan is a suburb and part of Hougang, in the North-East Region of Singapore. It is part of Aljunied GRC. A relatively small and almost-unknown suburb, it houses many bungalows and condominiums...
Shopping Centre in 1993. Also in operation in Singapore since 1985 was the Yaohan Best chain, specializing in electronics, which first opened in Yaohan's store space.
Decline
When the company faced financial difficulties, it was split into two companies, one in Japan and with the overseas part headquartered in Hong Kong, in a bid to survive. The group was traded on the Hong Kong Stock ExchangeHong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
as Yaohan International Company Limited until 11 August 1998. Through a combination of the 1997 Asian financial crisis and the stagnation of the Japanese retail market, however, the group declared bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
with 161 billion yen of debts. It was the biggest postwar failure in Japan's retail sector at the time. The super-market chain asked for protection from creditors under Japan's Corporate Rehabilitation Law on 18 September 1997. Many outlets were closed.
In March 2000, Yaohan in Japan was bought by ÆON Group and changed its name to Maxvalu Tokai
Maxvalu Tokai
is a Japanese retail store chain. Until 2000 it was named Yaohan, but changed its name after its bankruptcy and takeover from the ÆON Group....
. Other stores in the U.S.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
were bought by Mitsuwa, Maruwa, and Marukai, the latter two based in Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
.
A former Yaohan department store in Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
is operating under the trading name New Yaohan (新八佰伴), operated by Yaohan International Company Limited in Hong Kong which is locally owned and no longer has a connection with the Wada family. Yaohan Best has been renamed as Best Denki
Best Denki
is a Japanese electronics retailer with outlets across Japan, Indonesia, Singapore, Malaysia, Hong Kong, Taiwan and Kuwait. Best Denki headquarters is located in Fukuoka. Previously, in Singapore, it was known as "Yaohan Best", when it started operations there in 1985. After Yaohan's bankruptcy,...
.