Mail-Order House Senshukai Planning Massive Restructuring

Economy

Osaka, Oct. 24 (Jiji Press)--Major Japanese catalog shopping company Senshukai Co. <8165> will carry out massive restructuring due to its weak business performance, it was learned Wednesday.

The company is considering selling its head office in Osaka, western Japan, consolidating its business bases and soliciting employees for voluntary early retirement.

President Hiroyuki Hoshino is expected to step down to take responsibility for the poor business results.

The company is seen announcing its restructuring measures and the leadership change as early as this week.

"We are exploring various possibilities to improve our performance. But no concrete decision has been made," Senshukai said in a statement Wednesday.

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Jiji Press