Mitsui & Co., Ltd. ("Mitsui," head office: Chiyoda-ku, Tokyo, President and CEO: Masami Iijima) has acquired an interest equivalent to 25% of the shares of CCTV Shopping Co., Ltd. ("CCTVS," head office: Beijing, China, CEO: Huang YanRong), a provider of services to home shopping operators in China, by accepting a private placement of new shares and by buying shares from other shareholders.
CCTVS supplies both goods and services, including logistics, to China International Television Corporation (CITVC). As part of the China Central Television (CCTV) Group, CITVC is developing TV shopping operations throughout China under the CCTV Home Shopping (Zhongshi Gouwu in Chinese) brand.
Mitsui intends to use its experience in TV shopping business in Japan and Taiwan to contribute to the enhancement of peripheral services in the Chinese TV shopping market, which is expected to expand rapidly.
Profile of CCTVS
||CCTV Shopping Co., Ltd.
||Wholesaling and provision of logistics and consulting services, etc., to TV shopping operators
||CITVC: 51%, Mitsui: 25%, others: 24%
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