Friday, March 22, 2013
Bic Camera To End Tie-Up With Best Denki
The operational and capital tie-up dates back to 2007. But relations deteriorated after Bic Camera was reluctant to provide additional support when business slumped at Best Denki.
Best Denki announced last July its decision to become a Yamada Denki Co. (9831) subsidiary and has expressed an intention to dissolve the tie-up with Bic Camera.
Bic Camera has not decided what to do with its 7.95% of Best Denki's outstanding shares or joint operations with Best Denki.
(The Nikkei, March 22 morning edition)