The major department store chain Isetan Co. hinted Tuesday that it may expand the scope of its planned capital injection into financially troubled Iwataya Department Store Co., based in Kyushu.
"Capital accounts are important to stabilize business conditions," Isetan President Nobukazu Muto said, "so we will consider enhancing their capital, if necessary."
Isetan has envisioned acquiring an 18 percent equity stake in Iwataya by purchasing 750 million yen out of 2.3 billion yen worth of new shares that Iwataya plans to float.
"We have received a request from financial institutions to expand (the planned equity stake)," Muto said, noting the actual share Isetan will acquire in Iwataya has not yet been determined.