Deodeo Corp. and Eiden Co., two discount store chain operators specializing in consumer electronic goods, said Monday they have agreed to merge into a joint holding company to be set up on April 1, 2002.
The two firms hope the merger will acquire a higher market share in western Japan. Deodeo is based in Hiroshima Prefecture and Eiden is based in Nagoya.
The new holding firm is expected to be listed on the Tokyo, Osaka and Nagoya stock exchanges on March 31, 2002, the two said.
Deodeo, now listed on the Tokyo and Osaka exchanges, and Eiden, on the Tokyo and Nagoya exchanges, will be de-listed March 26, 2002.
Details of the merger, including stock-swap ratios, will be determined later, the two firms said.