• SHARE

Supermarket operator Ito-Yokado Co. and Marubeni Corp. are among the companies that have applied to sponsor retailer Daiei Inc.’s rehabilitation, informed sources said Monday.

The Industrial Revitalization Corp. of Japan has set Monday as the primary deadline for applications, requiring companies to submit concrete support plans for Daiei.

The ailing supermarket chain operator has sought rehabilitation aid from the IRCJ.

The agency is planning to work out a rehabilitation plan for Daiei by the end of the year and choose sponsors by the end of March after accepting applications from candidates again early next year, IRCJ officials said.

Ito-Yokado plans to support Daiei together with Mitsui & Co., another major trading house, according to the sources.

Supermarket chain operators Aeon Co. and Izumiya Co. are also likely to have expressed interest in becoming candidates, the sources said. Izumiya, based in Osaka, hopes to take over Daiei’s outlets in western Japan, they said.

Fast Retailing Co., which runs the Uniqlo casual-clothing stores, is considering the possibility of opening outlets at buildings to be vacated following the possible closure of Daiei stores, according to the sources.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW