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Daiei continues to sell
assets to cut its debts
Japan's largest supermarket operator Daiei continues to sell assets to cut down its huge debts. The latest sale was that of a crown jewel, the Printemps Ginza department store in Tokyo. It was taken over by its management, funded by Fuji Bank. The company has also continued to sell shares in the convenience store chain Lawson. Now, 7.3 million shares were ceded, bringing down the ownership stake to 22.2 per cent from a previous 27.2 per cent. |
