Local News

Gunma Prefecture-based Yamada Denki announced the purchase of local consumer electronics mass merchandiser Best Denki, the seventh largest company in the industry. Yamada is currently the second-largest shareholder in the company, and will spend 12.1 billion yen by the end of the year to take a 51% stake. Best Denki will retain its name and exchange listing, and use the funds to expand and enhance its existing store chain, and establish a presence in Indonesia