Jusco to dissolve furniture venture

Jusco Co., the nation's third-largest supermarket chain operator, said Monday it will dissolve its furniture retailing joint venture with RTG International Inc. of the United States by February 2003 due to poor performance.

Jusco said it expects an extraordinary loss of 2.6 billion yen from the liquidation of RTG Japan Co.

Established in November 1997, RTG Japan is owned 85 percent by Jusco and the remainder by RTG International, a unit of U.S. furniture retail chain Rooms To Go Inc.

RTG Japan will close its four outlets in Tokyo by the end of September, Jusco said.

The liquidation comes after the company posted a net loss of 483 million yen and a pretax loss of 473 million yen in its 2000 business year, which ended in February.