Bic Camera will acquire a majority stake in Kojima, its rival in consumer electronics retailing.
Japan’s fifth largest consumer electronics retailer, Bic Camera will spend 14.1 billion yen (US$176.52 million) acquiring more than 50 per cent of Kojima. The buyout will make Bic Camera the second largest consumer electronics retailer in Japan.
The Utsunomiya-headquartered Kojima founded in 1955 operates 211 stores across Japan with a paid-in capital of 18.9 billion yen (US$236.29 million).
Bic Camera was founded in Ikebukuro, Tokyo in 1978 with a capital of 18.4 billion yen (US$230.04 million). As of August last year, the retailer runs 34 stores, mostly installed in train stations in Tokyo.
When the buyout is completed, Bic Camera and Kojima are expected to generate a combined sales of over one trillion yen (US$12.50 billion) annually. That’s half the annual sales of Japan’s leading electronics retailer Yamada Denki whose yearly sales income is around two trillion yen (US$25 billion).
GB
