The mayor of Tokyo's Toshima Ward says she cannot see any prospect of an agreement over the selloff of the Sogo & Seibu department store chain.

The flagship Seibu Ikebukuro store of the major department store chain is located in Tokyo's Ikebukuro shopping district in Toshima Ward. Its parent firm, Seven & i Holdings, has decided to sell the chain to a US investment fund.

The fund and electronics retailer Yodobashi Holdings plan to set up Yodobashi outlets within some Sogo & Seibu stores, including the Seibu Ikebukuro store. Parties involved are currently discussing floor plans.

Toshima Mayor Takagiwa Miyuki has been requesting that the Ikebukuro outlet should be kept as a department store. She revealed that she took part in a meeting of relevant parties earlier this month.

Takagiwa said she called on participants of the meeting to give explanations not only to Toshima Ward, but also people from local shopping districts and business groups about how the selloff and refurbishment of the department store will contribute to revitalizing local communities.

The mayor said Seven & i Holdings agreed to do so. But she said she does not think a consensus can be expected among the relevant parties.