Japan Electronics Retailers Yamada, Edion Announce Integration

Tokyo, June 5 (Jiji Press)--Japanese home electronics retailer Yamada Holdings Co. and rival Edion Corp. said Friday that they have reached a basic agreement to integrate their operations with combined annual sales of around 2.5 trillion yen.

They plan to establish a holding company and become wholly owned subsidiaries of the new entity. Edion Chairman Masataka Kubo is set to become president of the holding company, while Yamada Holdings Chairman Noboru Yamada will become chairman.

At a press conference in Tokyo, Kubo underscored his commitment to transforming the company into "a platform that surpasses conventional electronics retail stores." He also revealed that Yamada Holdings had initiated discussions on integration in April last year.

Yamada explained the reason for the integration, citing the shared view of the two companies on future challenges facing Japan.

Yamada Holdings and Edion, which plan to carry out the integration Oct. 1, 2027, have a total of some 36,000 employees and over 9,900 stores including franchise outlets.

[Copyright The Jiji Press, Ltd.]