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Article: HMV GROUP TO OFFLOAD JAPANESE OPERATIONS TO DAIWA AFFILIATE.
- Article from:
- AsiaPulse News
- Article date:
- August 1, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Aug 1 Asia Pulse - Music retailer HMV Group Plc said Tuesday, that it will sell its Japanese operations, including 62 stores, to an investment company affiliate of the Daiwa Securities group in late August for about 17 billion yen.
The U.K.-based company, which offers music, videos and DVDs at its retail outlets, will sell its stakes in HMV Japan KK and HMV Retail Ltd. to Daiwa Securities SMBC Principal Investments Co. Current executives at the Japanese operations will remain in their positions and the stores will continue to operate under the HMV brand.
Daiwa Securities SMBC Principal Investments is also scheduled to dispatch a few of its ...