Tokyo-based cable-radio operator Usen has revealed plans to sell off more than half its 21.3% stake in Avex Group Holdings, Japan's biggest independent record label.

Tokyo-based cable-radio operator Usen has revealed plans to sell off more than half its 21.3% stake in Avex Group Holdings, Japan's biggest independent record label.

Usen, which became Tokyo-based Avex's largest stockholder in October 2004, reportedly intends to reduce its stake in Avex to around 10%.

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