J FRONT RETAILING Co (JP:3086) has released an update.
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J. FRONT RETAILING Co., Ltd. has announced its subsidiary Daimaru Matsuzakaya’s plan to acquire a 42.6% stake in Shinsaibashi Kyodo Center Building, K.K., with the aim to make it a wholly owned subsidiary. This strategic move will grant Daimaru Matsuzakaya full control over SCB’s voting rights and is part of a broader strategy to strengthen the group’s presence and retail expansion in the Shinsaibashi area. The acquisition is set to occur in two phases, with complete ownership expected by July 2025.
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