Retailing giant Daimaru Matsuzakaya opened for business last week, bringing to fruition the 2007 mega-merger between Japan’s fourth largest department store Daimaru Inc. and the eighth ranked Matsuzakaya Co.
The new chain, which combined under holding firm J Front Retailing Co., will take over strategic planning and product procurement duties from J Front to save costs amid the current deflation.
(Source: The Japan Times Online)