Japanese tax-free shop operator to list on Kosdaq

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Japanese tax-free shop operator to list on Kosdaq

Japanese tax-free shop operator JTC said Monday its shares will be listed on Korea’s secondary bourse early next month as the company pushes to expand its presence globally.

The firm, which operates 24 stores in Japan, passed the Korea Exchange’s preliminary review to go public on the Kosdaq last month.

“We will become Japan’s No. 1 tax-free shop operator with some 100 billion yen ($945.4 million) of revenue within the next five years,” CEO Ku Chul-mo said during a press conference in Seoul.

The company also aims to launch a tax refund business in Korea, starting with Seoul, Busan and the resort island of Jeju.

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