J. Front Retailing Co. will spend 1.6 billion yen to increase its stake in StylingLife Holdings Inc., the operator of the Plaza store chain.
J. Front will acquire an additional 8 percent of StylingLife from Tokyu Corp. (9005), J. Front said in a statement to the Tokyo Stock Exchange.
The acquisition will bring J. Front’s stake in StylingLife to 48.5 percent, after it said in February it would acquire 40.5 percent of StylingLife from Sony Corp. (6758), Mitsui & Co. and Senshukai Co. The company will acquire all 48.5 percent on March 30.
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