Sogo & Seibu dept. store labor union to go on rare strike in Tokyo

A labor union representing workers at Japanese department stores operated by Sogo & Seibu Co. said Wednesday that members would go on strike at one of the stores in Tokyo to protest a buyout deal by a U.S.-based investment fund. In the first such action by a major department store union in 61 years, around 900 union members at the Seibu Ikebukuro store will refrain from working on Thursday after negotiations with parent Seven & i Holdings Co. fell through, the labor union said. The Japanese retail giant plans to approve the sale of the department store chain to Fortress Investment Group LLC at...