Mitsubishi Corp. has proposed increasing its stake in convenience store operator Lawson Inc. and may make it a subsidiary as the country's biggest trading house shifts away from commodities.
The company currently has a 33.4 percent stake in Japan's third-biggest operator of convenience stores.
Lawson said in a statement it received a proposal from Mitsubishi and has not yet decided how to respond. Mitsubishi may raise its stake to 51 percent, said a person with knowledge of the situation, who asked not to be identified due to company policy. A 17.6 percent stake would be valued at about ¥130.8 billion, based on the Sept. 14 closing share price for Lawson. Mitsubishi has not made a decision yet on its Lawson holdings, according to a statement Thursday.