Aeon Group, Japan’s largest retailer, has announced that it will convert its consolidated subsidiary Daiei into a wholly-owned subsidiary on Jan. 1, 2015. All 280 of Daiei’s shops will be reopened as Aeons by fiscal 2018, and the Daiei brand name will cease to exist. The 39 stores in Kyushu will be rebranded as either Aeon and MaxValu stores. Founded in 1957, Daiei once boasted the best sales of any Japanese retailer and owned the Fukuoka Hawks baseball team. With 44.15% of its shares, Aeon is Daiei’s biggest shareholder and made the company a consolidated subsidiary in August 2013. With this move, Daiei will be delisted from the Tokyo Stock Exchange on Dec. 26. Source: Nishinippon Shimbun 9/25
