Dating back in 2007, Daimaru, which operated 16 department stores nationwide, was the fourth-largest chain in the industry. Matsuzakaya was the eighth-biggest, operating nine outlets mainly in Nagoya, Tokyo and nearby cities.
Their integration is hoped to trigger further realignment in the retail industry. Daimaru and Matsuzakaya said they will try to cut operating costs and attract popular brands to their floors. They also said they will try to enhance operations in Tokyo.
The new chain, combined under holding firm J. Front Retailing Co.. It will take over strategic planning and product procurement duties from J. Front to save costs amid the current deflation. (JapanTimesOnline)