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US: Strong Winter Storm Brings Blizzard Conditions To Sierra Nevada 3

A strong winter storm hit the Sierra Nevada on Friday, March 1, bringing heavy snow and high winds. Blizzard Warnings were issued for the area, including Lake Tahoe and eastern Nevada. The Sierra Avalanche Center warned that the danger of avalanches was high. Yosemite National Park and many ski resorts in the region announced they were closing at least for the day.

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Daiei to sell 32.15% stake in OMC Card to SMFG for 74. bil. yen

TOKYO, Japan - Masayuki Nishi (L), chairman of Sumitomo Mitsui Financial Group, Tooru Nishim (C), president of Daiei Inc., and Hiromichi Funahashi, chairman of OMC Card Inc., join hands at a press conference in Tokyo on July 27 after announcing Daiei will sell 32.15 percent of voting rights in its credit-card subsidiary OMC to Sumitomo Mitsui for 74.8 billion yen.

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Daiei unveils 3-yr business plan

TOKYO, Japan - Toru Nishimi, president of struggling retailer Daiei Inc., speaks about the company's three-year management plan at a news conference in Tokyo on May 17. Under the plan to improve profitability, the company is aiming for a group operating profit of 27 billion yen in fiscal 2009.

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Daiei, Aeon, Marubeni join hands

TOKYO, Japan - (From L to R) Motoya Okada, president of Japan's major supermarket chain Aeon Co., Nobuo Katsumata, president of trading house Marubeni Corp., and Toru Nishimi, president of struggling retailer Daiei Inc., join hands as the three companies signal they will join forces to create Japan's top retail group.

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Daiei begins sales of ad-added eggs

TOKYO, Japan - Eggs with advertisement stickers are sold at an outlet of Supermarket chain operator Daiei Inc. in Urayasu, Chiba Prefecture on Feb. 1. Daiei began selling those eggs at about 200 Daiei and group outlets, with an aim of selling 300,000 packages of the eggs with advertisements each month.

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Daiei's operating profit jumps 42% on brisk credit card business

TOKYO, Japan - Daiei Inc. President Toru Nishimi speaks at a press conference in Tokyo on Oct. 20. The company reported a group operating profit of 25.45 billion yen for the first half of the current business year, up 41.9 percent from a year earlier, backed by improved retail profitability and a brisk performance by its credit card subsidiary OMC Card Inc.

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Daiei posts 511 bil. yen group net loss on restructuring costs

TOKYO, Japan - Daiei Inc. Acting President Yoshiaki Takahashi speaks at a press conference in Tokyo on April 15. The ailing supermarket chain operator said it fell into the red in fiscal 2004 with a group net loss of 511.20 billion yen as it booked the costs it expects to see in large-scale restructuring from 2005 as a loss ahead of time.

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IRCJ inks contract on Marubeni-led group's Daiei sponsorship

TOKYO, Japan - Marubeni Corp. President Nobuo Katsumata (L) and Daiei Inc. President Toshio Hasumi speak during a news conference in Tokyo on March 7. The Industrial Revitalization Corp. of Japan and Daiei signed a contract the same day with a consortium led by trading house Marubeni as the sponsor for rebuilding the struggling retail giant.

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Daiei to incur net group loss of 510 bil. yen in FY 2004

TOKYO, Japan - Toshio Hasumi, president of Daiei Inc., speaks to reporters about the company's group earning forecast for fiscal 2004 ending on Feb. 28.

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Daiei to pick managing director Hasumi for new president

TOKYO, Japan - Struggling retail giant Daiei Inc. is likely to appoint managing director Toshio Hasumi (in file photo) as successor to Kunio Takagi, who will resign as president to take the blame for its woes, informed sources said Oct. 20. Hasumi, 58, has built his career inside the retailing group's corporate structure, working mostly in planning and financial management.

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Retailer Daiei reports improved profitability for FY 2003

TOKYO, Japan - Kunio Takagi, president of Daiei Inc., briefs reporters on the company's group earnings report for fiscal 2003 at the Tokyo Stock Exchange on April 16.

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Daiei's Takagi to spearhead sales revival drive

TOKYO, Japan &#8211; Kunio Takagi, president of struggling retail giant Daiei Inc., addresses a general meeting of group executives in Tokyo on Aug. 29. Daiei will introduce a new sales regime on Sept. 1, giving President Takagi direct overall responsibility.

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Daiei plunges into red

TOKYO, Japan - Kunio Takagi, president of the struggling retailer Daiei Inc., talks with the media in Tokyo on April after announcing the group's financial results for the year to February 28. Daiei posted a group net loss of 332.51 billion yen in the business year, marking a sharp reversal from the 45.89 billion yen profit the previous year.

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Nakauchi steps down from all executive posts in Daiei group

TOKYO, Japan - Supermarket chain operator Daiei Inc. founder and former chairman Isao Nakauchi (in file photo) has stepped down from all his executive posts at Daiei group companies, including that of honorary chairman at Recruit Co., Daiei officials said Feb. 6. Among other jobs Nakauchi resigned are chairman of the Daiei Hawks professional baseball team and senior advisory posts at restaurant chain Volks Inc. and department store Printemps Ginza S.A.

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Nakauchi gives up all Daiei group representation positions

TOKYO, Japan - An undated file photo shows Isao Nakauchi, founder of the troubled supermarket chain Daiei Inc., who has given up the right to represent any of the companies in the Daiei group. This means that Nakauchi, once dubbed as king of Japan's retail business, could no longer wield any direct influence within the Daiei group beyond his capacity as a major shareholder.

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Mitsubishi to become Lawson's biggest shareholder

TOKYO, Japan - Mitsubishi Corp. will become the largest shareholder in convenience store chain operator Lawson Inc. next by buying an additional 9.1 million shares from the group led by Daiei Inc., Lawson's current main shareholder. Lawson President Kenji Fujiwara (L) and Mitsubishi Executive Director Yorihiko Kojima (R) shake hands at a news conference in Tokyo on Feb. 22.

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Daiei chief likely to resign over shady stock deal

TOKYO, Japan - File photo shows Tadasu Toba, president of Daei Inc., who company sources said Oct. 10 is likely to resign over his controversial purchase of the stocks of Daiei OMC Inc. (DOMC), a Daiei group credit-card firm.

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Daiei chief repents 'undue procedure' in group stock deals

TOKYO, Japan - Tadasu Toba, president of Daiei Inc., bows deeply at a press conference on Oct. 3 at the Tokyo Chamber of Commerce and Industry to express repentance for ''undue procedure'' in trading in shares in a group company last year. Toba donated his 15.9 million yen in profit from the share deals to three organizations, including the Japan Committee for UNICEF, after the adviser pointed out that the purchase might be regarded as a case of insider trading.

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Nakauchi gives up all Daiei group representation positions

TOKYO, Japan - An undated file photo shows Isao Nakauchi, founder of the troubled supermarket chain Daiei Inc., who has given up the right to represent any of the companies in the Daiei group. This means that Nakauchi, once dubbed as king of Japan's retail business, could no longer wield any direct influence within the Daiei group beyond his capacity as a major shareholder.

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Daiei to pick managing director Hasumi for new president

TOKYO, Japan - Struggling retail giant Daiei Inc. is likely to appoint managing director Toshio Hasumi (in file photo) as successor to Kunio Takagi, who will resign as president to take the blame for its woes, informed sources said Oct. 20. Hasumi, 58, has built his career inside the retailing group's corporate structure, working mostly in planning and financial management. (Kyodo)

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Daiei to incur net group loss of 510 bil. yen in FY 2004

TOKYO, Japan - Toshio Hasumi, president of Daiei Inc., speaks to reporters about the company's group earning forecast for fiscal 2004 ending on Feb. 28. (Kyodo)

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IRCJ inks contract on Marubeni-led group's Daiei sponsorship

TOKYO, Japan - Marubeni Corp. President Nobuo Katsumata (L) and Daiei Inc. President Toshio Hasumi speak during a news conference in Tokyo on March 7. The Industrial Revitalization Corp. of Japan and Daiei signed a contract the same day with a consortium led by trading house Marubeni as the sponsor for rebuilding the struggling retail giant. (Kyodo)

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Daiei posts 511 bil. yen group net loss on restructuring costs

TOKYO, Japan - Daiei Inc. Acting President Yoshiaki Takahashi speaks at a press conference in Tokyo on April 15. The ailing supermarket chain operator said it fell into the red in fiscal 2004 with a group net loss of 511.20 billion yen as it booked the costs it expects to see in large-scale restructuring from 2005 as a loss ahead of time. (Kyodo)

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Daiei's operating profit jumps 42% on brisk credit card business

TOKYO, Japan - Daiei Inc. President Toru Nishimi speaks at a press conference in Tokyo on Oct. 20. The company reported a group operating profit of 25.45 billion yen for the first half of the current business year, up 41.9 percent from a year earlier, backed by improved retail profitability and a brisk performance by its credit card subsidiary OMC Card Inc. (Kyodo)

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Daiei begins sales of ad-added eggs

TOKYO, Japan - Eggs with advertisement stickers are sold at an outlet of Supermarket chain operator Daiei Inc. in Urayasu, Chiba Prefecture on Feb. 1. Daiei began selling those eggs at about 200 Daiei and group outlets, with an aim of selling 300,000 packages of the eggs with advertisements each month. (Kyodo)

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Daiei, Aeon, Marubeni join hands

TOKYO, Japan - (From L to R) Motoya Okada, president of Japan's major supermarket chain Aeon Co., Nobuo Katsumata, president of trading house Marubeni Corp., and Toru Nishimi, president of struggling retailer Daiei Inc., join hands as the three companies signal they will join forces to create Japan's top retail group. (Kyodo)

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Daiei unveils 3-yr business plan

TOKYO, Japan - Toru Nishimi, president of struggling retailer Daiei Inc., speaks about the company's three-year management plan at a news conference in Tokyo on May 17. Under the plan to improve profitability, the company is aiming for a group operating profit of 27 billion yen in fiscal 2009. (Kyodo)

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Daiei to sell 32.15% stake in OMC Card to SMFG for 74. bil. yen

TOKYO, Japan - Masayuki Nishi (L), chairman of Sumitomo Mitsui Financial Group, Tooru Nishim (C), president of Daiei Inc., and Hiromichi Funahashi, chairman of OMC Card Inc., join hands at a press conference in Tokyo on July 27 after announcing Daiei will sell 32.15 percent of voting rights in its credit-card subsidiary OMC to Sumitomo Mitsui for 74.8 billion yen. (Kyodo)

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Nakauchi steps down from all executive posts in Daiei group

TOKYO, Japan - Supermarket chain operator Daiei Inc. founder and former chairman Isao Nakauchi (in file photo) has stepped down from all his executive posts at Daiei group companies, including that of honorary chairman at Recruit Co., Daiei officials said Feb. 6. Among other jobs Nakauchi resigned are chairman of the Daiei Hawks professional baseball team and senior advisory posts at restaurant chain Volks Inc. and department store Printemps Ginza S.A.

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Retailer Daiei reports improved profitability for FY 2003

TOKYO, Japan - Kunio Takagi, president of Daiei Inc., briefs reporters on the company's group earnings report for fiscal 2003 at the Tokyo Stock Exchange on April 16. (Kyodo)

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Daiei plunges into red

TOKYO, Japan - Kunio Takagi, president of the struggling retailer Daiei Inc., talks with the media in Tokyo on April after announcing the group's financial results for the year to February 28. Daiei posted a group net loss of 332.51 billion yen in the business year, marking a sharp reversal from the 45.89 billion yen profit the previous year.

E

Mitsubishi to become Lawson's biggest shareholder

TOKYO, Japan - Mitsubishi Corp. will become the largest shareholder in convenience store chain operator Lawson Inc. next by buying an additional 9.1 million shares from the group led by Daiei Inc., Lawson's current main shareholder. Lawson President Kenji Fujiwara (L) and Mitsubishi Executive Director Yorihiko Kojima (R) shake hands at a news conference in Tokyo on Feb. 22.

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Daiei chief likely to resign over shady stock deal

TOKYO, Japan - File photo shows Tadasu Toba, president of Daei Inc., who company sources said Oct. 10 is likely to resign over his controversial purchase of the stocks of Daiei OMC Inc. (DOMC), a Daiei group credit-card firm.

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Daiei chief repents 'undue procedure' in group stock deals

TOKYO, Japan - Tadasu Toba, president of Daiei Inc., bows deeply at a press conference on Oct. 3 at the Tokyo Chamber of Commerce and Industry to express repentance for ''undue procedure'' in trading in shares in a group company last year. Toba donated his 15.9 million yen in profit from the share deals to three organizations, including the Japan Committee for UNICEF, after the adviser pointed out that the purchase might be regarded as a case of insider trading.