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Daiei

The Daiei, Inc.
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 Increase ¥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. 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.

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.

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 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.

Daiei's current President and CEO is Toru Nishimi, formerly an operating officer of Marubeni Corporation.

A Daiei store.

See also

References

  1. ^ Hoovers - The Daiei, Inc. Factsheet
  2. ^ Daiei Stores Officially Don Quijote

External links

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