Ailing retailer Daiei Inc. and major trading house Marubeni Corp. have reached an agreement over Marubeni's purchase of a 5 percent stake in Daiei and an additional 10 percent stake in Maruetsu Inc., a supermarket-chain affiliate of Daiei, the three companies said Wednesday.
The three firms said in a joint statement that they also agreed that Marubeni will send senior staff to Maruetsu.
The purchase of additional Maruetsu shares by Marubeni will bring its stake in Maruetsu to 20 percent. As a result, Marubeni will consolidate Maruetsu on its books, it said.