Seiyu increases loss forecast

1 February 2006 – Tokyo (JPN): Wal-Mart’s Japanese subsidiary, Seiyu, has said its 2005 loss will be greater than previously forecast.
                                                                                                                                                                                                                                The retailer said its FY group loss will be around ¥17.8 billion ($151.3 million) compared to the previously forecast ¥13.5 billion loss.
                                                                                                                                                                                                                               The reasons for the increased loss were promotional spending that hit margins and a one-off charge.