Beleaguered Japanese retailer Daiei has made a joint venture agreement with Japan’s largest consumer electronics retailer Yamada Denki.
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Under the agreement, Daiei will provide Yamada Denki with floor space in a few of its supermarkets in a move to boost Daiei’s sales.
From December Yamada Denki will be present in a small number of Daiei supermarkets but that number is expected to increase next year.
Daiei is undergoing massive restructuring in a bid to cut its debts. The company is reorganising its stores, with some stores being closed altogether, reported the Financial Times.
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By GlobalData
