Everything about Daiei totally explained
» For other uses, see Daiei (disambiguation).
, 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.
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, which can be attributed to Japan's recession.
The retail chain expanded rapidly in the
1970s and
1980s. It has been suggested that this is the cause of the company's large debt and some critics have noted that the expansion occurred in a rather haphazard manner. 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, on
January 27,
2005.
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.
Further Information
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