FUKUOKA (Kyodo) Yoshimatsu Futata, founder of menswear clothing retailer Futata Co., said Wednesday that the company's future prospects will be key in making the final decision on whether to be absorbed by Aoki Holdings Inc. or enhance ties with Konaka Co.
"Aoki is innovative and Konaka is a steady company," Futata, adviser of the Fukuoka-based company, told reporters.
Futata is deliberating a merger proposal made Aug. 7 by Aoki, the second-largest menswear retail chain in Japan, and a counterproposal announced Monday by Konaka, the fourth-largest chain and Futata's biggest shareholder, to reinforce the their capital business tieup.
Sumitomo Mitsui Banking Corp., which is advising Futata, is analyzing the proposals. Futata, which will base its decision on that analysis, is set to decide by Friday.