Seven plans stake in departmental store Millennium Retailing
26 Dec '05
1 min read
Stocks, particularly of Seven & I Holdings Co Ltd, Japan's leading retailer, rose on the news that the company plans to share of Japanese department store group Millennium Retailing Inc.
In a cash deal reportedly worth Yen131.1 billion will assure Seven top as Asia's biggest retailer group in sales terms pushing Aeon Co Ltd to second position.
Markets developed renewed interest at the back of this news that reveals a strong corporate interests in capital spendings and rising consumer spend.
The effect was more pronounced on Fast Retailing Co. Ltd. The which is Japan's biggest casual wear chain which registered 8 percent jump in share prices to Yen11,980.
Another department store operator Matsuzakaya Co Ltd showed positive movement with 1.2 percent rise in shares to Yen1,082 yen.
Some cheer that, for retail sector in Japan that may welcome the new year on a revival note.
marketing@alchempro.com
