Leading Tokyo-based audiovisual software retail and rental store operator Culture Convenience Club, best known as the operator of the Tsutaya retail/rental chain, is taking over the Sumiya chain of CD

Leading Tokyo-based audiovisual software retail and rental store operator Culture Convenience Club, best known as the operator of the Tsutaya retail/rental chain, is taking over the Sumiya chain of CD/DVD retail stores.

CCC said May 15 that it will purchase 69% of Sumiya's voting stock in a third-party share allocation scheduled for July. Sumiya's 55 stores, most of which are located in central and eastern Japan, will continue to operate under the
Sumiya banner. Sumiya is based in the city of Shizuoka, southwest of Tokyo.

The purchase will bring CCC's total number of retail outlets to 1,181. CCC estimates its annual sales at ¥165 billion ($1.5 billion) following the latest deal, cementing its status as Japan's biggest music retailer.