Printer Friendly

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.
COPYRIGHT 2002 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Japan Weekly Monitor
Date:Feb 25, 2002
Previous Article:Major banks see no public funds need even after special audit.
Next Article:Publisher ordered to pay damages to murder suspect Hayashi.

Related Articles
Marubeni agrees to take 5% stake in Daiei.
EMBARGOED: Nakauchi to give up representative right of Recruit.
Nakauchi to give up representative right of Recruit.
Recruit announces appointment of Nakauchi as honorary chairman.
Nakauchi gives up all Daiei group representation positions.
Daiei owner downplays possible sale of Hawks.
Daiei owner sorry about commotion over Hawks sale.
Daiei asks Nakauchi's son to give up Hawks' stakes.
Daiei sells part of Ichiken equity stake to Toyo Techno.
Daiei to consolidate 4 group firms in Fukuoka+.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters