CORRECTED: Aoki to launch takeover bid to make Marufuru wholly owned subsidiary.

TOKYO, March 8 Kyodo

Major menswear retail chain operator Aoki Holdings Inc. said Thursday it will launch a takeover bid to make casual clothing chain operator Marufuru Co. a wholly owned subsidiary.

The announcement follows Aoki's failure last year to acquire another menswear retailer Futata Co. by exercising a takeover bid.

Under its latest move, Aoki plans to buy about 90 percent of outstanding shares in the Yamanashi Prefecture-based retailer, listed on the Jasdaq Securities Exchange, for a total of about 2.42 billion yen, or 530 yen per share, from Friday to April 6.

Aoki aims to acquire all of Marufuru's outstanding shares eventually.

Marufuru's management family, which owns about a 60 percent stake in the company, has already agreed to sell all of its shareholdings to Aoki, according to Aoki.

If Aoki's takeover bid succeeds, Marufuru is expected to be delisted from the Jasdaq market for start-up firms.

Marufuru operates 41 outlets in Shizuoka and Nagano prefectures and elsewhere. In its 2005 business year, which ended in February 2006, the company posted 7.57 billion yen in sales.