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Article: JAPAN'S YAMADA DENKI TO STRENGTHEN BUSINESS IN OSAKA AREA.
- Article from:
- AsiaPulse News
- Article date:
- September 14, 2001
CopyrightCOPYRIGHT 2001 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, Sept 14 Asia Pulse - Major volume consumer electronics retailer Yamada Denki Co. (TSE:9831) and midsize firm Wakodenki Co. will set up a joint venture to run Wakodenki's large stores, the companies announced Thursday.
The deal is prompted by the desire of Wakodenki, based in the Kansai region around Osaka, to withdraw from operating large stores, while Yamada Denki is eager to expand business in the region.
The joint venture will be set up on Sept. 27 and capitalized at 490 million yen, with Yamada Denki taking a 51 per cent stake and Wakodenki holding the remainder. The new entity will manage 20 Wakodenki stores over the next two years and have ...