Daiwa SMBC Principal exits HMV Japan to Lawson
Lawson Inc., the Japanese convenience store chain operator, will acquire 100% of HMV Japan KK, the CD and DVD retail sales operation running under the UK’s HMV brand name, for JPY1.8 billion ($22.3 million) from Daiwa Securities SMBC Principal Investments Co., wholly owned by Daiwa Securities SMBC.
The firm took over HMV Japan in 2007. Previously, Daiwa SMBC Principal was in talks with Culture Convenience Club Co., known as CCC, which operates Tsutaya, a Japanese movie and music rental shop chain,...
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