Daiei
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| File:Daiei.JPG | |
| Public KK (TYO: 8263) | |
| Industry | Retail |
| Founded | 1957 at Osaka, Japan |
| Founder | Isao Nakauchi |
| Headquarters | Kobe, Japan |
|
Key people
|
Fumiko Hayashi, CEO |
| Products | Hypermarkets and supermarkets |
| Revenue |  ¥1,431.5 billion (2005) |
|
Number of employees
|
full-time; 6979 |
| Subsidiaries | OMC Card, OPA co. ltd. |
| Website | www.daiei.co.jp |
The Daiei, Inc. (株式会社ダイエー Kabushiki-kaisha Daiē?), based in Kobe, is one of the largest supermarket chains in Japan. In 1957, Isao Nakauchi founded the chain in Osaka near Sembayashi Station on the Keihan train line.[citation needed] Daiei is now under a restructuring process supported by Marubeni Corporation and ÆON Co., Ltd., another Japanese supermarket chain. Daiei Inc. currently runs more than 3,000 stores under the Daiei name as well as through its subsidiaries.[1] In addition to groceries, Daiei is also a department store, selling electronics, home furnishings, and clothes. In terms of net sales, Daiei used to be the largest retailer in Japan. However, total sales declined by nearly a quarter in the five years leading up to 2003.[citation needed]
The retail chain expanded rapidly in the 1970s and 1980s. Also, stronger sales from competitors such as Ito-Yokado, ÆON, and other regional supermarket chains have hurt Daiei's sales record in recent years.[citation needed]
As a part of the series of bootstrap restructuring efforts to avoid filing for IRCJ (Industrial Revitalization Corporation of Japan) support, the company sold its famous and popular baseball team, the Fukuoka Daiei Hawks to Softbank, on January 27, 2005[citation needed] and the company's Hawaii stores in 2006 to Don Quijote Co., Ltd.[2] Through the process of debt restructuring and support given by financial institutions in coordination with IRCJ, the company has been acquired by IRCJ, Marubeni Corporation (a trading company) and Advantage Partners (a private equity house) in 2005.[citation needed]
Daiei's current President and CEO is Toru Nishimi, formerly an operating officer of Marubeni Corporation.
See also
References
- ↑ Hoovers - The Daiei, Inc. Factsheet
- ↑ Daiei Stores Officially Don Quijote
External links
- Daiei Inc. (In Japanese)
- "'Zombie' Businesses", The New York Times
