Japan’s largest consumer electronics retailer Yamada Holdings Co and Edion Corp, another key company in the industry, said Friday they had agreed to merge under a holding company to be established in October 2027.
The announcement was made after the two firms held board meetings earlier in the day. Their combined sales would total around 2.5 trillion yen ($15.6 billion).
The move comes amid intensifying competition with industry rivals and e-commerce platforms as Japan’s population shrinks. The companies hope that the merger will strengthen their product development capabilities and accelerate efficiency as they endeavor to release products under a private brand.
Noboru Yamada, chairman of Yamada Holdings, is set to become chairman of the holding company, while Masataka Kubo, chairman of Edion, will assume the role of president.
© KYODO
