• Bloomberg


HMV Group PLC, Britain’s largest music retailer, said Tuesday it agreed to sell its Japanese store chain to Daiwa Securities Group Inc. and Sumitomo Mitsui Financial Group Inc. for ¥17 billion in cash.

The sale of Japan’s third-largest music retailer is expected to close by the end of next month, the Maidenhead, England-based company said Tuesday. Proceeds will be used to pay down debt, it added.

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