The Industrial Revitalization Corp. of Japan and Daiei Inc. signed a contract Monday with a consortium led by trading house Marubeni Corp. as the sponsor for rebuilding the struggling retail giant.
The development came after the corporate bailout agency picked the consortium, which includes Japanese fund Advantage Partners Inc., at a meeting Friday of its decision-making Industrial Revitalization Committee.
Marubeni President Nobuo Katsumata told a news conference his company intends to support Daiei from a long-term perspective.