CINCINNATI -- Kroger, the nation's second-largest food retailer, and Daiei Inc., Japan's largest food and general merchandise retailer, announced Monday they have agreed to explore opportunities for 'mutually attractive and profitable business relationships.'
Kroger Chairman Lyle Everinghamn and Daiei President Isao Nakauchi emphasized that, 'at present, activities are largely exploratory.'
However, a couple of specific actions for this year were disclosed.
'Kroger's food processing division will begin to export food items for sale in Daiei and affiliated stores in Japan and Hawaii in 1981 and there will be an ongoing exchange of information and technical assistance regarding buying and merchandising of food,' said Kroger officials.
The firms said that Daiei, in turn, 'will assist Kroger in the procurement of selected merchandise from the Orient for sale in its food stores and drug stores.'
'We have been extremely impressed with the efficiency of Daiei's operation, and the compatability of our merchandising philosophies and strengths,' said Everingham. 'We believe there is much that each of us can learn from the other.'
Kroger, headquartered in Cincinnati, operates 1,250 grocery stores in 21 states, primarily in the midwest and south, but also in southern California. Kroger also operates 500 'Super-X' drug stores. Kroger's 1979 sales topped $9 billion.
Daiei, headquartered in Osaka, operates 200 'superstores,' which not only sell food but a broad range of other merchandise. The company also operates four stores in Honolulu. Daiei's current sales top $5 billion a year.