Mycal to cut 410 bil. yen debts, 2,700 jobs in 3 years
OSAKA, Japan - Osamu Shikata (R), president-elect of Mycal Corp., and Toshiyuki Sugawara, managing director, announced a three-year restructuring plan at a news conference in Osaka on Jan. 24. Under the plan, the financially troubled retailer will eliminate 410 billion yen in debt and 2,700 employees on a consolidated basis. Shikata, 70, former chief of the Osaka prefectural police, will succeed Kotaro Utsunomiya as president, effective March 1.
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- ILEA000007275
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- 2001/1/24 00:00:00
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- Kyodo / Kyodo News Images
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