Japan News Online

Takeda Pharmaceutical to sell food business to House in '07

Takeda Pharmaceutical Co. will sell its food business to House Foods Corp. in October 2007 for an estimated 30 billion yen, the two companies said Monday. Under their basic agreement, Takeda will spin off its food and beverage business in April 2006, allowing House to acquire a 66 percent stake in the new company.

Seven & I to take over Millennium Retailing completely by June

Seven & I Holdings Co. plans to purchase a 65.45 percent equity stake in Millennium Retailing Inc. at the end of January and acquire the remaining shares by June, the two companies said Monday, a move that will create Japan's largest and the world's fifth-largest retailer in terms of sales. Seven & I is the holding company for the Seven-Eleven Japan Co. convenience store chain, supermarket chain Ito-Yokado Co. and the Denny's restaurant chain. Millennium Retailing controls the department stores Seibu Department Stores Ltd. and Sogo Co.

House Foods to buy Takeda Pharmaceutical's food business

Takeda Pharmaceutical Co. has reached a basic agreement to sell its food business to House Foods Corp. in October 2007, the two companies said Monday. The deal is estimated to be worth 30 billion yen.