JAPAN: Daiei agrees to JV with Yamada Denki

Beleaguered Japanese retailer Daiei has made a joint venture agreement with Japan’s largest consumer electronics retailer Yamada Denki. 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.

Beleaguered Japanese retailer Daiei has made a joint venture agreement with Japan’s largest consumer electronics retailer Yamada Denki.

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.