TOKYO, July 13 Japan's top consumer electronics
retailer, Yamada Denki Co, will take a majority stake
in Best Denki Co for 12.12 billion yen ($152.93
million) by buying new shares to be issued by the smaller rival
chain store, according to a filing on Friday.
Yamada Denki, Japan's biggest home electronics retailer in
terms of market capitalisation, will boost its stake in Best
Denki to 51.16 percent from the present 7.49 percent.
Japan's consumer electronics retailers are facing intense
competition and falling profits, spurring a wave of
consolidation across the sector.
Last month, Bic Camera Inc, which owns 15 percent
of Best Denki, took a majority stake in rival Kojima Co
($1 = 79.25 Japanese yen)
(Reporting by James Topham, Writing by Shinichi Saoshiro;
Editing by Michael Watson)