President Otsuka of Otsuka Furniture (left) and Chairman Yamada of Yamada Denki shake hands.

President Otsuka of Otsuka Furniture (left) and Chairman Yamada of Yamada Denki shake hands.

Yamada Electric will acquire 51.74% of Otsuka Furniture's shares for 4.374 billion yen on March 30, following a third-party allocation of new shares by Otsuka Furniture. Kumiko Otsuka, president of Otsuka Furniture, announced that she would continue to serve as president, saying, "It is the responsibility of the management team to accomplish this. He said that the gross profit margin of Otsuka Furniture's products is high, and he expects the company to become profitable if sales increase by 10%. President Otsuka expressed his enthusiasm, saying, "Now that the store shrinkage has run its course, we will increase sales at existing stores. Yamada is strengthening sales of products closely related to home appliances, such as houses, and by making Otsuka Furniture a subsidiary, it will also get furniture. December 12, 2019, photo credit: Nikkan Kogyo Shimbun / Kyodo News Images)

  • Product Code
  • ILEA000688016
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  • 2019/12/12 00:00:00
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  • THE NIKKAN KOGYO SHIMBUN
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