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Nakauchi not to release stake in Daiei Hawks.

FUKUOKA, Feb. 19 Kyodo

Daiei Hawks owner Tadashi Nakauchi denied a newspaper report Tuesday that debt-ridden supermarket chain operator Daiei Inc. has asked him to release all the 40% stake he owns in the baseball club.

''I haven't heard anything like this and I would reject it if I really got such a request,'' Nakauchi said at a Fukuoka hotel, reiterating his intention to continue to be part of the Pacific League team's management.

Nakauchi was commenting on a report that Daiei Inc., which is drawing up a major restructuring plan under the initiative of three creditor banks, has demanded he step down as Hawks owner and give his stake in the club to the parent company free of charge.

''I don't know what lies behind the move. If it's true, it could be the first step for (Daiei) to sell the Hawks,'' Nakauchi said.

''It would be annoying if the report suggests that I'm responsible for Daiei's trouble because I'm not involved in the management of the parent company,'' he added.

Nakauchi is son of Daiei Inc. founder Isao Nakauchi and their family is under fire for crippling the largest retain chain in Japan.

Meanwhile, in Nago, Okinawa, Hawks general manger Ryuzo Setoyama confirmed in a meeting of the Pacific League executive board that owner Nakauchi and president Takeshi Kotsuka will remain in their posts.
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Publication:Japan Weekly Monitor
Date:Feb 25, 2002
Words:226
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