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Primart and Jusco to merge

Date Posted: 1999-05-01

Okinawa Jusco and Primart, two of Okinawa's most successful businesses, announced Friday a merger between the two companies. Kunio Sakano, president of Primart, and Okinawa Jusco president Masafumi Fujita announced plans for the August merger during a Friday press conference.

The merger was approved during a same-day meeting of both companies' board of directors. The new company will be known as Ryukyu Jusco, with Sakano as president and Fujita as chairman. Ryukyu Jusco will continue trading under such names as Jusco, Primart and MaxValu. Reducing management costs and overhead were cited as primary reasons for the merger. Fujita said the company management system will undergo redevelopment, in the hope they can successfully compete with domestic and international rivals.

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