Daiei to Withdraw from Appliance Business
Jan 28, 2003
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Japan's Daiei Inc. said it will pull the plug on its money-losing home electric appliance retailing and instead invite home electronics retailers to open outlets in its stores as tenants starting in late February. As a result, Daiei's home appliance subsidiary, Palex Co., will be dissolved, company officials said. Among home electronics retailers expected to open stores in Daiei outlets are Best Denki Co. and Laox Co., they said. (Kyodo News)

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