Menswear retailer Futata Co. said Friday it will accept Konaka Co.'s offer to make it a wholly owned subsidiary, rejecting menswear rival Aoki Holding Inc.'s proposal.
Futata said it chose Konaka because it "has built a relationship of mutual trust (with Konaka) as we have been allied for the last 3 1/2 years" and there is a "high affinity between the corporate cultures."
Aoki immediately withdrew its takeover plan, saying it had wanted a "friendly integration."