Sogo & Seibu Co., Ltd. (株式会社そごう・西武, Kabushiki-gaisha Sogou & Seibu) is a Japanese retail company that operates two department stores: Sogo, and Seibu.

Sogo & Seibu Co., Ltd.
Founded2009 (from merger)
HeadquartersNibancho, Chiyoda, Tokyo, Japan
Number of locations
10 (2023)
ServicesDepartment stores
SubsidiariesShell Garden Co., Ltd. (10%)
WebsiteOfficial website

Sale to Fortress Edit

When it was announced that Seven & I Holdings Co. would sell Sogo & Seibu to the company in November 2022, Fortress Investment Group (FIG) said this would allow it to introduce Yodobashi Camera locations into the department store chains stores.[1] On August 31, 2023, it was reported that the company would be sold to Fortress in a deal valued at JP¥220 billion.[2]

The announcement of the sale led to around 900 employees striking and the closure of the Seibu Ikebukuro flagship on August 31st.[3] The strike was the first major department store strike in Japan since the 1960s.[4]

On September 1, 2023, Seven & I Holdings Co. announced that it has completed the sale of the Japanese company to FIG.[5]

See also Edit

References Edit

  1. ^ "Seven-Eleven parent to sell Sogo & Seibu stores to U.S. fund". The Japan Times. 2022-11-11. Retrieved 2023-09-02.
  2. ^ "Japan's Sogo & Seibu department stores are being sold to a US fund as 900 workers go on strike". AP News. 2023-08-31. Retrieved 2023-09-02.
  3. ^ Negate, Kazuki; Exum, Anika Osaki (2023-08-31). "Sogo & Seibu labor union begins strike at flagship Ikebukuro store". The Japan Times. Retrieved 2023-09-02.
  4. ^ "Strike at Tokyo department store fails to stop sale of Sogo-Seibu | The Asahi Shimbun: Breaking News, Japan News and Analysis". The Asahi Shimbun. Retrieved 2023-09-02.
  5. ^ "Sale of Sogo & Seibu completed Friday". NHK. Retrieved 2023-09-13.

External links Edit