Supermarket operator Daiei Inc has secured JPY140bn (US$1.19bn) in refinancing loans from four financial institutions, reported Reuters News Agency.
 
Japan’s third-biggest retailer will reportedly use the loans to repay the state-backed Industrial Revitalisation Corp as early as the end of next month.

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A report by the Kyodo News Agency on 5 September suggested that both Aeon and Wal-Mart have submitted separate proposals to Daiei’s largest shareholder, Marubeni, regarding a tie-up with the struggling Japanese chain.

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