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Business deals

Lixil to unload home improvement store unit

Japanese company narrows focus on core residential building supply business

A Super Viva home improvement store near Tokyo: Lixil will unload the retail business to focus more resources on building supplies. (Photo courtesy of Lixil)

TOKYO -- Japanese building materials supplier Lixil Group plans to sell its majority stake in an operator of home improvement stores to a domestic peer, Nikkei has learned.

Lixil intends to offload its entire 53% interest in publicly listed Lixil Viva to Arcland Sakamoto, which will conduct a tender offer anticipated to reach roughly 100 billion yen ($912 million).

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