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NAGOYA RAILROAD TO MAKE MEITETSU DEPT STORE WHOLLY OWNED UNIT.
(From Asia Pulse)
TOKYO, Oct 28 Asia Pulse - Nagoya Railroad Co. (TSE:9048) announced Monday that it will make group company Meitetsu Department Store Co. (TSE:8261) a wholly owned subsidiary and delist it next February.
Meitetsu Department Store, which is listed on the first section of the Nagoya Stock Exchange, will integrate management with Melsa, another Nagoya Railroad group company that operates clothing stores, around autumn 2005.
The department store is the group's core distribution company, with the parent Nagoya Railroad holding a 45.1 per cent stake. On Feb. 10, 2004, one Meitetsu Department Store ...
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