Workers at a major Tokyo department store went on strike on Thursday after talks with management over the planned sale of their company broke down, marking the first major walk-out the country has seen in decades.

Some 900 workers at the flagship Seibu store in the bustling district of Ikebukuro are protesting the sale of Sogo & Seibu, a unit of Japanese retail giant Seven & i (3382.T), to U.S. fund Fortress Investment Group.

They are seeking job and business continuity guarantees, unhappy with reported plans for discount electronics retailer Yodobashi Holdings to take over roughly half of the store.

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    1 year ago

    Breaking the status quo to maintain the status quo