OSAKA (Kyodo) Upscale supermarket chain Kinokuniya Co. and department store chain Takashimaya Co. have reached an agreement on a comprehensive business tieup to create a new chain of high-end stores, the companies said Tuesday.
The companies aim to enhance their businesses by creating stores that are more attractive to customers by drawing on Kinokuniya's knowhow in food retailing and Takashimaya's solid clientele, they said.
As a first step, the companies will open a new retailer, with a floor space of about 500 sq. meters, inside the Takashimaya department store in Tokyo's Shinjuku district next spring.