As part of its rebuilding efforts, debt-saddled supermarket chain Daiei Inc. filed with the government Tuesday for tax breaks and other preferential treatment under the industrial rehabilitation law, government officials said.
Daiei hopes that its filing will lend credibility and transparency to its plan to rehabilitate under a three-year restructuring program. The resulting tax deductions are estimated to exceed 600 million yen.
Earlier in the day, Daiei management approved a plan to ask the Ministry of Economy, Trade and Industry to grant the parent company and a subsidiary the preferential treatment in an extraordinary meeting of directors.