Beleaguered Japanese retailer Daiei will soon say goodbye to its president, Yasuyuki Higuchi.
Go deeper with GlobalData
The largest investor in Daiei, Marubeni Corp., said that Higuchi would step down in October as the group continues to undergo major restructuring. A former president of Hewlett-Packard’s Japanese division, Higuchi only joined Daiei in May.
Marubeni said in a statement that it had asked him to stay, but that he had insisted on leaving. The reason for his departure is unclear.
In his short tenure Higuchi has forged ahead with restructuring including job cuts and the closure of unprofitable outlets based on a revamp plan recommended by the Industrial Revitalisation Corporation of Japan (IRCJ), a state-backed bailout body.
Trading house Marubeni Corp became the top shareholder of Daiei earlier this month, increasing its stake to 44.6% through the purchase of shares from the IRCJ.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
