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Japan: Daiei continues to cut debts by selling shares The large Japanese supermarket chain Daiei is hard hit by the difficult times for the country's retail sector. Unemployment is up, consumption is down and prices are in regression. Carrefour and other foreign retailers pose a formidable challenge for the local companies, big and small. Only recently, Daiei announced the sale of a large ownership slice in its convenience store chain Lawson. Now, the company is selling 10 per cent of the retail company Maruetsu to a trading house, Marubeni Corp. Daiei will retain a 35 per cent ownership in Maruetsu and Marubeni will be the second largest owner with almost 20 per cent. |
