HMV to up the ante in Japanese market

HMV plans to expand aggressively in Japan over the next five years with the aim of having 100 eponymous stores there.

Japan, along with the UK, is where the entertainment chain is focusing much of its energies. At present, there are 38 HMV stores in Japan and another eight are planned this year.

HMV Group chief executive Alan Giles said: 'We have a growing sense of confidence and belief in the Japanese market.'

The group, which also owns the Waterstone's books chain, reported full-year sales up 3.2 per cent to£1.7 billion. Operating profit increased by 12.1 per cent to£118.4 million, and like-for-likes were up 1.6 per cent.