TKP Proposes More Investment in Struggling Otsuka Kagu
Tokyo, Aug. 4 (Jiji Press)--Japanese meeting room rental service company TKP Corp. <3479> has proposed an additional investment to support struggling furniture retailer Otsuka Kagu Ltd. <8186>, it was learned on Saturday.
TKP is a business tie-up partner and the third-largest shareholder of Otsuka Kagu.
Meanwhile, Tokyo-based major electrics retailer Yodobashi Camera Co. has also emerged as a candidate to support the reconstruction of Otsuka Kagu, informed sources said.
After being tarnished by a founding family feud, Otsuka Kagu is facing difficulties rebuilding management on its own, increasing the likelihood of the company accepting outside capital for recovery.
TKP has already proposed assistance to Otsuka Kagu, including buying new shares issued through a third-party allotment, according to the sources.
[Copyright The Jiji Press, Ltd.]