Daiei Inc. has grabbed the public's attention in recent months with its dramatic struggle to survive, culminating last week with President Kunio Takagi's resignation after being forced to seek help from the Industrial Revitalization Corp. of Japan.
While it can be seen as just another case of a failing business receiving a government bailout, many consider the retailer's fall as a significant event in the history of the postwar economy.
"In short, Daiei was a retail champion in the postwar period," said Motoshige Ito, an economics professor at University of Tokyo. "It embodied Japan's rapid economic growth."