Future Group is in talks with Japan’s convenience store chain Lawson to sell a 49% stake in its foods sourcing and manufacturing operations.

India’s Economic Times yesterday (21 September) quoted sources that said the Future Group, which owns the Pantaloon Retail chain, has signed a memorandum of understanding to form a joint venture with Lawson.

In July, Lawson reported a JPY1.9bn (US$23.4m) loss for the quarter ended 31 May, largely due to the effects of the the earthquake that hit Japan in March.

Future Group could not be reached for immediate comment.