Japanese retail deal set

DAIEI, Japan's largest retailer, has made a new deal to expand its sales-and-merchandising influence through a home-based joint venture involving its rival Takashimaya and Au Printemps of Paris.

The two Osaka-based retailing groups are expected to become minority-percentage shareholders in a plan to open up French-style department stores throughout Japan. The 25-year-old DAIEI group already produces annual sales of over $5 billion (US); its No. 3 national partner-to-be, Takashimaya, reaches $2 billion (US).

Negotiations on the new retailing arrangement have been under way for over a year. Takashimaya, through prior contract, has already begun s elling Au Printemps goods in its Japanese units.

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.