Tokyu restructures retail, forgives debt, acquires REIT units

Tokyu Corporation [TSE:9005] is undertaking a significant restructuring of its retail business, according to a series of announcements. Key elements include the absorption of Tokyu Department Store, and the creation of a new entity, Tokyu Retail Management, to oversee commercial facilities. As part of the restructuring, Tokyu will execute an absorption-type merger with Tokyu Department Store effective August 1, 2025.