Japan's J.Front Retailing gets $2.8 bln credit lines from banks - Kyodo

J. FRONT RETAILING

29/06/2020 05:35

TOKYO, June 29 (Reuters) - Japan's J.Front Retailing Co
 3086.T  has received credit lines totalling 300 billion yen
($2.80 billion) from banks including Mitsubishi UFJ Financial
Group  8306.T  and Sumitomo Mitsui Financial Group  8316.T ,
Kyodo news reported on Monday.
    The credit lines are aimed at preparing for any store
closures that might result from a possible second wave of
coronavirus infections, Kyodo said.
    J.Front Retailing, which owns department stores including
Daimaru and Matsuzakaya, declined to comment on the report. Its
shares fell more than 6% after the report.
    MUFG declined to comment. SMFG couldn't be reached for
comment immediately.
    ($1 = 107.0800 yen)

 (Reporting by Ritsuko Ando and Takashi Umekawa; Editing by
Chang-Ran Kim and Muralikumar Anantharaman)
 ((ran.kim@thomsonreuters.com; +81-3-4563-2740;))