Local News

Mitsukoshi Isetan Holdings revealed their intention to begin preparations to create a regional company out of Iwata-ya, a consolidated subsidiary of Isetan, and the Fukuoka branch of the Mitsukoshi department store. Once completed, the merger will result in the largest department store in Kyushu, with annual sales of 140 billion yen. Both the Iwata-ya and Mitsukoshi brands would be maintained. The company thinks the earliest the merger would happen is FY 2011.