Nojima May Mull Buying Yokohama F. Marinos Soccer Club

Tokyo, Oct. 1 (Jiji Press)–Major household appliance retailer Nojima Corp. has been floated as a potential buyer in Nissan Motor Co.’s possible sale of the Yokohama F. Marinos professional soccer club, it was learned Wednesday. Hiroshi Nojima, president of the retailer headquartered in the city of Yokohama, south of Tokyo, told reporters after an event for prospective employees the same day that his company will consider acquiring the club if the opportunity arises. The company is expected to mull whether the publicity benefits of the club would justify the acquisition and operating costs if a formal sale offer is made. Nissan is considering selling off the club in the J1 top division of the Japan Professional Football League, or J.League, amid the automaker’s management woes. Other companies including a major information technology firm are also seen as potential buyers of the club. If a bidding war occurs, the price is likely to rise, making the acquisition more challenging. Nojima also plans to take part in a possible bid for naming rights to the Nissan Stadium in Yokohama, the club’s home ground. Nissan is currently in talks with the Yokohama city government to lower the naming rights fee. The retailer is known for its aggressive mergers and acquisitions, including deals with telecommunications firm Nifty Corp. and personal computer maker Vaio Corp. It operates women’s soccer club Nojima Stella Kanagawa Sagamihara. For the fiscal year that ended in March, the company logged 853.4 billion yen in consolidated sales. The president has said he will aim to make Nojima a “3-trillion-yen company” through M&As. END [Copyright The Jiji Press, Ltd.]