Iris Ohyama, Don Quijote Parent Offer to Sell Govt-Stockpiled Rice
Tokyo, May 27 (Jiji Press)--Household goods supplier Iris Ohyama Inc. and the parent of discount store operator Don Quijote Co. have made a formal offer to sell the Japanese government's stockpiled rice under discretionary contracts.
Hoping to stabilize the soaring rice prices, the government has decided to switch over to releasing its stockpiled rice through discretionary sales contracts, instead of auctions as was previously done.
Iris Ohyama and Pan Pacific International Holdings Corp., the parent of Don Quijote, completed their application process on Monday, the day the government started accepting such bids.
Major Japanese retailers Aeon Co. and Ito-Yokado Co., as well as e-commerce giant Rakuten Group Inc. and LY Corp., which operates messaging app Line and internet portal Yahoo! Japan, are currently positively considering filing their applications.
Speaking on a television program on Monday night, agriculture minister Shinjiro Koizumi said that seven companies have already applied to sell a total of 58,000 tons of government-stockpiled rice, which is equivalent to a little under 20 pct of the 300,000 tons of such rice set to be released.
(2025/05/27-11:09)
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