Japanese Department Stores Mitsukoshi, Isetan Merging

[Niyusu]

In a move that would create Japan's largest department store, Mitsukoshi Ltd. and Isetan Co. have agreed to integrate operations starting in the spring of 2008. The combined sale of the new entity would be greater than those of a new retailing group Matsuzakaya and Daimaru department stores have announced for later this year.

The establishment of the Mitsukoshi-Isetan entity will realign Japan's department store sector, transforming it into a venue dominated by four huge department store groups including Takashimaya Co. and the group consisting of the Seibu and Sogo department stores.

Mitsukoshi and Isetan stores will retain their current names after the merger.

Source: Mitsukoshi and Isetan to join forces next spring | Japan Times