The president of ailing Japanese supermarket Mycal has resigned after a fortnight in the post. Kozo Yamashita took the job after Mycal filed for protection against bankruptcy. He is replaced by Kazuo Urano, the driving force for a restructure under civil rehabilitation laws and the fourth president in eight months. Under the restructuring arrangement, Mycal has received 10bn yen (£56m) in debtor-in-possession loans and continues to look for a sponsor to manage its affairs. l Fellow retailer Daiei announced a profit warning that sent its share price plummeting to an all-time low of 100 yen. One option touted by the company is the closure of its loss making HyperMart large scale discount stores. {{NEWS }}