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Daiei names managing director Hasumi as president

TOKYO, Japan - Toshio Hasumi speaks at a press conference in Tokyo on Oct. 22 after being appointed as new president of Daiei Inc. at an extraordinary board meeting to replace Kunio Takagi.

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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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Daiei backs down, agrees to use IRCJ for rehabilitation

TOKYO, Japan - Kunio Takagi, president of struggling retail giant Daiei Inc., is swarmed by reporters in Tokyo on Oct. 13 after his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan. Daiei decided to accept aid from IRCJ for its rehabilitation.

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Takagi fails to deliver on promise to fix Daiei in 3 yrs

NARASHINO, Japan - Then Daiei Inc. president, Kunio Takagi (L), and Daiei Hawks manager, Sadaharu Oh, conduct a sake casket-cutting ceremony to launch a year-end sales campaign in the city of Narashino, Chiba Prefecture, in November 2002.

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(2)Daiei agrees to use IRCJ for rehabilitation

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa speaks to reporters at the ministry after talks with Kunio Takagi, president of struggling retail giant Daiei Inc., on Oct. 13. Daiei is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October.

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(1)Daiei agrees to use IRCJ for rehabilitation

Tokyo, Japan - Daiei Inc. President Kunio Takagi talks on his mobile phone in a car after meeting with Economy, Trade and Industry Minister Shoichi Nakagawa on Oct. 13. The struggling retail giant is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October.

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(1)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Daiei Inc. President Kunio Takagi steps into a car following his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan in Tokyo on Oct. 12. Takagi told the IRCJ that the company will seek private sector-led rehabilitation plans instead of seeking IRRJ's support.

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(2)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan, leaves a Tokyo hotel after his talks with Kunio Takagi, president of Daiei Inc. IRCJ said it will stop preparatory procedures to help rebuild the ailing retail giant after Takagi formally rejected calls by the IRCJ and major creditor banks for the company to seek the entity's help, IRCJ officials said.

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Daiei board decides not to seek IRCJ support

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., leaves by car from the head office of Sumitomo Mitsui Banking Corp., one of its three major creditor banks, in Tokyo on Oct. 11. Earlier in the day Daiei decided at an extraordinary board meeting that it would not seek help from the state-backed Industrial Revitalization Corp. of Japan, brushing aside the banks' repeated demand that Daiei ask for IRCJ's help.

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(2)METI chief Nakagawa, Daiei's Takagi meet over retailer's rehab

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa (R) speaks with reporters after his talks with Daiei Inc. President Kunio Takagi over the struggling retail giant's rehabilitation at the Ministry of Economy, Trade and Industry on Oct. 10.

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(1)METI chief Nakagawa, Daiei's Takagi meet over retailer's rehab

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa (R) is in talks with Daiei Inc. President Kunio Takagi (L) over the struggling retail giant's rehabilitation at the Ministry of Economy, Trade and Industry on Oct. 10.

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(3)METI chief Nakagawa, Daiei's Takagi meet over retailer's rehab

TOKYO, Japan - Daiei Inc. President Kunio Takagi speaks with reporters following his talks with Economy, Trade and Industry Minister Shoichi Nakagawa over his struggling retail giant's rehabilitation at the Ministry of Economy, Trade and Industry on Oct. 10.

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Daiei to keep Hawks under its wing

KOBE, Japan - Daiei Inc. President Kunio Takagi speaks at a news conference at a Kobe hotel May 27 after the company's shareholders meeting. He told the meeting the struggling retailer will continue to own the Fukuoka Daiei Hawks professional baseball team.

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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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(1)Creditors finalize bailout package for ailing retailer Daiei

FUKUOKA, Japan - Daiei Inc. President Kunio Takagi speaks to reporters in Fukuoka on Feb. 10 after key creditor banks finalized a bailout package for the debt-ridden retail chain operator. Under the deal, Daiei is set to sell the Fukuoka Dome baseball stadium and the adjacent Sea Hawk Hotel and Resort to U.S. investment fund Colony Capital LLC.

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(1)Daiei signs basic accord to sell Fukuoka stadium, hotel

TOKYO, Japan - Kunio Takagi (R), president of struggling Japanese retailer Daiei Inc., shakes hands with Colony Capital LLC CEO Thomas Barrack at a Tokyo hotel on Dec. 2 at the end of a news conference on Daiei's signing of a basic agreement to sell its Fukuoka Dome baseball stadium and the adjacent Sea Hawk Hotel and Resort to the U.S. investment fund.

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Daiei sees revenues dragged down by reforms

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., speaks at a news conference in Tokyo on April 18. Daiei saw revenues decline due to more store closures and business reforms in the year ended Feb. 28, although it reported a net profit helped by debt forgiveness from creditor banks.

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Daiei to reinforce food operations in tie-up with Maruetsu

TOKYO, Japan - Kunio Takagi (L), president of struggling retail giant Daiei Inc., speaks on a management plan for the 2003 business year that includes close cooperation with its affiliated food supermarket chain operator Maruetsu Inc. at a news conference in Tokyo on March 5.

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Daiei to withdraw from home electric appliance business

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., speaks to reporters in Tokyo on Jan. 27 about the company's plan to withdraw from its home electric appliance business and instead invite home electronics retailers to open outlets in its stores as tenants.

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Daiei suffers 3.2% drop in same-store sales in Dec.

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., speaks about a decline in its December sales in an interview with Kyodo News in Tokyo on Jan. 15.

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Daiei starts year-end sale to rebuild management

NARASHINO, Japan - Fukuoka Daiei Hawks manager Sadaharu Oh (2nd from R) and actress Hiroko Moriguchi (R) join Daiei Inc. President Kunio Takagi (2nd from L) in a ceremony to launch the struggling supermarket chain operator's crucial year-end sale at its Tsudanuma store, east of Tokyo, on Nov. 21. Daiei, which will receive financial support from its three major creditor banks and the government-backed Development Bank of Japan, aims to boost sales during the year's biggest sales event.

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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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Daiei's 3 main banks to provide 520 bil. yen in support

TOKYO, Japan - Kunio Takagi, president of struggling supermarket operator Daiei Inc., talks with journalists after announcing a fresh three-year restructuring program featuring 520 billion yen in financial support from its three main creditor banks, or 100 billion yen more than under an earlier bailout plan.

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Daiei announces 3-year restructuring program

TOKYO, Japan - Kunio Takagi, president of Japan's largest supermarket chain operator Daiei Inc., speaks at a press conference in a Tokyo hotel on Jan. 18 about the company's restructuring program.

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Daiei shareholders approve new management team

KOBE, Japan - Isao Nakauchi (L), founder of ailing supermarket-chain operator Daiei Inc., Daiei Chairman Jiro Amagai (2nd from L), and Daiei President Kunio Takagi (3rd from L) speak at a press conference at a hotel in Kobe's Nishi Ward on Jan. 30 after the company's extraordinary shareholders' meeting. The launch of a new management team was approved at the meeting, formally ending Nakauchi's 43-year reign over Japan's largest supermarket-chain operator.

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Daiei announces 3-year restructuring program

TOKYO, Japan - Kunio Takagi, president of Japan's largest supermarket chain operator Daiei Inc., speaks at a press conference in a Tokyo hotel on Jan. 18 about the company's restructuring program.

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(2)METI chief Nakagawa, Daiei's Takagi meet over retailer's reha

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa (R) speaks with reporters after his talks with Daiei Inc. President Kunio Takagi over the struggling retail giant's rehabilitation at the Ministry of Economy, Trade and Industry on Oct. 10. (Kyodo)

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(1)METI chief Nakagawa, Daiei's Takagi meet over retailer's reha

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa (R) is in talks with Daiei Inc. President Kunio Takagi (L) over the struggling retail giant's rehabilitation at the Ministry of Economy, Trade and Industry on Oct. 10. (Kyodo)

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(1)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Daiei Inc. President Kunio Takagi steps into a car following his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan in Tokyo on Oct. 12. Takagi told the IRCJ that the company will seek private sector-led rehabilitation plans instead of seeking IRRJ's support. (Kyodo)

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(2)Daiei agrees to use IRCJ for rehabilitation

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa speaks to reporters at the ministry after talks with Kunio Takagi, president of struggling retail giant Daiei Inc., on Oct. 13. Daiei is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October. (Kyodo)

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(1)Daiei agrees to use IRCJ for rehabilitation

Tokyo, Japan - Daiei Inc. President Kunio Takagi talks on his mobile phone in a car after meeting with Economy, Trade and Industry Minister Shoichi Nakagawa on Oct. 13. The struggling retail giant is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October. (Kyodo)

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Daiei backs down, agrees to use IRCJ for rehabilitation

TOKYO, Japan - Kunio Takagi, president of struggling retail giant Daiei Inc., is swarmed by reporters in Tokyo on Oct. 13 after his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan. Daiei decided to accept aid from IRCJ for its rehabilitation. (Kyodo)

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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)

E

Daiei to reinforce food operations in tie-up with Maruetsu

TOKYO, Japan - Kunio Takagi (L), president of struggling retail giant Daiei Inc., speaks on a management plan for the 2003 business year that includes close cooperation with its affiliated food supermarket chain operator Maruetsu Inc. at a news conference in Tokyo on March 5. (Kyodo)

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Daiei names managing director Hasumi as president

TOKYO, Japan - Toshio Hasumi speaks at a press conference in Tokyo on Oct. 22 after being appointed as new president of Daiei Inc. at an extraordinary board meeting to replace Kunio Takagi. (Kyodo)

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(2)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan, leaves a Tokyo hotel after his talks with Kunio Takagi, president of Daiei Inc. IRCJ said it will stop preparatory procedures to help rebuild the ailing retail giant after Takagi formally rejected calls by the IRCJ and major creditor banks for the company to seek the entity's help, IRCJ officials said. (Kyodo)

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(3)METI chief Nakagawa, Daiei's Takagi meet over retailer's reha

TOKYO, Japan - Daiei Inc. President Kunio Takagi speaks with reporters following his talks with Economy, Trade and Industry Minister Shoichi Nakagawa over his struggling retail giant's rehabilitation at the Ministry of Economy, Trade and Industry on Oct. 10. (Kyodo)

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Daiei board decides not to seek IRCJ support

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., leaves by car from the head office of Sumitomo Mitsui Banking Corp., one of its three major creditor banks, in Tokyo on Oct. 11. Earlier in the day Daiei decided at an extraordinary board meeting that it would not seek help from the state-backed Industrial Revitalization Corp. of Japan, brushing aside the banks' repeated demand that Daiei ask for IRCJ's help. (Kyodo)

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Daiei suffers 3.2% drop in same-store sales in Dec.

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., speaks about a decline in its December sales in an interview with Kyodo News in Tokyo on Jan. 15. (Kyodo)

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Takagi fails to deliver on promise to fix Daiei in 3 yrs

NARASHINO, Japan - Then Daiei Inc. president, Kunio Takagi (L), and Daiei Hawks manager, Sadaharu Oh, conduct a sake casket-cutting ceremony to launch a year-end sales campaign in the city of Narashino, Chiba Prefecture, in November 2002. (Kyodo)

E

Daiei's 3 main banks to provide 520 bil. yen in support

TOKYO, Japan - Kunio Takagi, president of struggling supermarket operator Daiei Inc., talks with journalists after announcing a fresh three-year restructuring program featuring 520 billion yen in financial support from its three main creditor banks, or 100 billion yen more than under an earlier bailout plan.

E

(1)Daiei signs basic accord to sell Fukuoka stadium, hotel

TOKYO, Japan - Kunio Takagi (R), president of struggling Japanese retailer Daiei Inc., shakes hands with Colony Capital LLC CEO Thomas Barrack at a Tokyo hotel on Dec. 2 at the end of a news conference on Daiei's signing of a basic agreement to sell its Fukuoka Dome baseball stadium and the adjacent Sea Hawk Hotel and Resort to the U.S. investment fund. (Kyodo)

E

(1)Creditors finalize bailout package for ailing retailer Daiei

FUKUOKA, Japan - Daiei Inc. President Kunio Takagi speaks to reporters in Fukuoka on Feb. 10 after key creditor banks finalized a bailout package for the debt-ridden retail chain operator. Under the deal, Daiei is set to sell the Fukuoka Dome baseball stadium and the adjacent Sea Hawk Hotel and Resort to U.S. investment fund Colony Capital LLC. (Kyodo)

E

Daiei to keep Hawks under its wing

KOBE, Japan - Daiei Inc. President Kunio Takagi speaks at a news conference at a Kobe hotel May 27 after the company's shareholders meeting. He told the meeting the struggling retailer will continue to own the Fukuoka Daiei Hawks professional baseball team. (Kyodo)

E

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)

E

Daiei sees revenues dragged down by reforms

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., speaks at a news conference in Tokyo on April 18. Daiei saw revenues decline due to more store closures and business reforms in the year ended Feb. 28, although it reported a net profit helped by debt forgiveness from creditor banks. (Kyodo)

E

Daiei to withdraw from home electric appliance business

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., speaks to reporters in Tokyo on Jan. 27 about the company's plan to withdraw from its home electric appliance business and instead invite home electronics retailers to open outlets in its stores as tenants. (Kyodo)

E

Daiei starts year-end sale to rebuild management

NARASHINO, Japan - Fukuoka Daiei Hawks manager Sadaharu Oh (2nd from R) and actress Hiroko Moriguchi (R) join Daiei Inc. President Kunio Takagi (2nd from L) in a ceremony to launch the struggling supermarket chain operator's crucial year-end sale at its Tsudanuma store, east of Tokyo, on Nov. 21. Daiei, which will receive financial support from its three major creditor banks and the government-backed Development Bank of Japan, aims to boost sales during the year's biggest sales event. (Kyodo)

E

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.