NEWS RELEASE
Last Updated: December 16, 2021
Nitori Holdings Co., Ltd.

Nitori Expanding into Southeast Asia:Opening Its First Store in Malaysia in January 2022
and in Singapore in March 2022
Nitori Holdings Co., Ltd. (Location: Kita-Ku Sapporo, President, and COO: Toshiyuki Shirai) has
announced its entry into the Southeast Asian market. The first Nitori store, which sells furniture andhome-furnishing products, will open a “NITORI LaLaport BUKIT BINTANG CITY CENTRE” store
in Malaysia in January 2022, followed by the opening of a “NITORI ORCHARD” store in Singapore
in March 2022.
Nitori is Japan’s largest furniture and home-furnishing retail chain and our vision is to open 3,000 stores
and achieve sales of 3 trillion yen by 2032, based on the mission statement "To enrich homes around theworld." The main business of the Group is opening "Nitori" stores that sell furniture and home-furnishingproducts. Nitori Group also operates "Deco Home" stores that sell home-furnishing products with a focus
on daily necessities, "Shimachu" home improvement stores that also sell furniture, hardware and daily
goods, and "N Plus" stores that sell apparel brands for adult women. We have opened 692 stores in Japanand 88 stores in Mainland China, Taiwan and the United States. We would like to achieve further growth
to realize its mission and vision by opening more stores in other regions and expanding our e-commercebusiness, including opening stores in Southeast Asia.
The first Nitori store in Southeast Asia will open in January 2022, in the "Mitsui Shopping Park
LaLaport BUKIT BINTANG CITY CENTRE" in Malaysia. The second store in Malaysia is plannedto open in Q3 2022.
The first store in Singapore will also open in March 2022 on Orchard Road, the largest main shopping
street in Singapore.
This is just the first step in Nitori's expansion into the Southeast Asian market. Over the next five years,
we plan to open 20 stores in Malaysia and 10 stores in Singapore.

Image of NITORI LaLaport BUKIT BINTANG CITY CENTRE store

1*Picture courtesy of Mitsui Fudosan Co., Ltd.

First Nitori store in Malaysia: Opening January 2022
Building name：Mitsui Shopping Park LaLaport BUKIT BINTANG CITY CENTRELocation ：Bukit Bintang City Centre, No.2, Jalan Hang Tuah, 55100 Kuala Lumpur, Malaysia*Details TBA at a later date
"N Sleep Shop" to be opened specializing in bedding and sleepwear items"N Sleep Shop" is a specialty shop that focuses on providing customers with more comfortable sleep.
It offers private-brand mattresses and pillows designed for better sleep, cool-to-the-touch bedding, andhome diffusers to help customers sleep better. The shop also offers other furniture and homefurnishings products.

Second Nitori store in Malaysia: Opening Q3 2022
Building name：IOI CITY MALL
Location ：Management Office, Unit T2-3A-3 & Unit T2-3A-3A, Level 3A,
IOI City Tower Two, Lebuh IRC, IOI Resort City, 62502 Putrajaya, Sepang, Selangor.
*Details TBA at a later date

Image of Second NITORI store in Malaysia

2First Nitori store in Singapore: Opening March 2022
Building name：COURTS Nojima The Heeren
Location： Level 4, The Heeren,260 Orchard Road Singapore 238855*Details TBA at a later date

Image of NITORI ORCHARD store

Comment from Akio Nitori, Representative Director & Chairperson (CEO) of Nitori Holdings
Co., Ltd.
“We have been providing products and services to satisfy all our customers, with low prices, goodquality and functionality and coordination, making efforts to realize the Group's mission statement"To enrich homes around the world." The opening of new stores in Southeast Asia is a part of thisinitiative, and we are very pleased to be able to deliver our products to customers in the Southeast
Asian region, which is experiencing remarkable economic growth.”

Comment from Masanori Takeda, Director of Nitori Holdings Co., Ltd., General Manager of
Global Merchandising Division, General Manager of Global Sales Promotion Office in Chargeof Overseas Sales Business“Nitori Group has developed a unique business model in which we manage everything from productplanning to manufacturing, distribution, and sales to provide our customers with better quality
products at lower prices. More than 90% of our products are private brand products and most of them
are manufactured in Asian countries and regions including Southeast Asia. Therefore, we have been
active in the Southeast Asian region for more than 20 years and for that reason, have a large numberof business partners, as well as our factories and trading companies of the Group. We are very
pleased to be opening new stores in Southeast Asia, where we have a very close relationship with theregion, and to start the sales business.”
Comment from CK Lim, Malaysia Product Department Manager“I joined the Nitori sourcing company located in Malaysia in 2004, and Nitori only had about 100
stores in Japan during that time. I gave my serving to do sourcing and quality control in Malaysia andother Southeast Asian countries to provide the foundation of prosperous home living to the Japanesecommunity in past years. As Nitori has grown steadily, I am very impressed and feel excited that Nitori
is going to open a store in my home country. In the coming days, my family, relatives, and friends willknow more about Nitori, and I am very much looking forward to contributing to enriching andproviding the foundation of prosperous home living to Malaysia, Southeast Asia, and the Globalcommunity.”3

Comment from Hue Ven Yang, Nitori International Scholarship Foundation Alumni“Congratulations on opening your first store in Malaysia! When I was a graduate student, I was able
to devote all my energy to my research activities, thanks to the support of the Nitori InternationalScholarship Foundation. Being a scholar of the Nitori International Scholarship Foundation gave mean opportunity to think about what I want to do with life. With all my gratitude, I pray for Nitori’s
realization of its’ ‘mission and vision’, and to bring prosperity to customers all over the world.”
About Nitori Holdings (Nitori Group)
We are a Japanese “lifestyle suggestion company,” utilizing a wide range of business fields. Nitori
Group consists logistics network company Home Logistics Co.,Ltd., advertising and public relations
company Nitori Public Co.,Ltd., etc. ( https://www.nitorihd.co.jp/en/division/group.html ). We haveestablished all operational functions in-house, from product planning to manufacturing, logistics andsales. We will continue to evolve our business to realize our mission statement as we expand ourendeavors across the globe.
Nitori, the main business of the Group, is Japan’s largest furniture and home-furnishing retailer. Nitorioffers exceptional values on stylish merchandise for home—all in a convenient, relaxed, and fun
shopping environment. Our stores showcase merchandise for all areas of the customer’s home: livingroom, dining room, bedroom, kitchen and more.

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Nitori International Scholarship Foundation
Akio Nitori, the founder of the Company,donated his financial resources to establish the Nitori
International Scholarship Foundation in March 2005. He wants to give back to the Asian countries fortheir tremendous help and support in achieving the goals of Nitori Holdings Co., Ltd. Furthermore, weoffer non-repayable scholarships to contribute to further friendship and human resource development
around the world. By the end of March 2022, we are planning to support 8,030 students in 46 countriesand regions with a total of 34.9 million yen.

Related content
Corporate Website
https://www.nitorihd.co.jp/en/
Integrated Reporthttps://www.nitorihd.co.jp/en/pdf/annual2021.pdf
Nitori International Scholarship Foundation Website https://www.nitori-shougakuzaidan.com/
NITORI Malaysia https://www.nitori.my/
Local Contact:
Tsutomu Yamamoto （+603 9765 1266）
NITORI RETAIL (MALAYSIA) SDN. BHD.
B-5-12, Plaza Bukit Jalil, Aurora Place, Persiaran Jalil 1, 57000 Kuala Lumpur, Malaysia.
Media Contact:
Nitori Holdings Public Relations Department
koho@nitori.jp

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