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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'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 credit card unit wrongly billed 8,700

TOKYO, Japan - Hiromichi Funahashi, president of Daiei OMC Inc., the credit card unit of supermarket chain Daiei Inc., briefs reporters on the company's error in sending bills to its cardholders. Funahashi said Daiei OMC sent erroneous bills to some 8,700 cardholders this month. The bills included personal information on other cardholders, such as names, details of transactions, and amounts owed.

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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'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 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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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.