Industrial Long fund buys Maruei store in Japan
Maruei Department Co., Ltd, an Aichi-based department store operator, will sell its 100%-owned Toyohashi Maruei Co., which operates a branch of the Maruei brand department store in the Chubu area of Japan's main island of Honshu, to the Industrial Long Investment Fund, a local investment firm, aiming to repay debts and strengthen its financial base.
The acquisition price was not disclosed. The fund is aiming to complete the deal by early October this year. Maruei Group formerly operated two flagship stores, one in Sakae City and the other in Toyohashi...
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