Wal-Mart to make Seiyu a subsidiary

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5 July 2005 – Tokyo (JPN): Wal-Mart is to make Seiyu a subsidiary during this year, according to the Japanese daily Nihon Keizai.

 

The paper also reported that Wal-Mart is to buy new shares in the loss-making company, which is Japan’s fourth largest retailer, raising its stake to 50 per cent.

 

Wal-Mart and Seiyu have said no decision has yet been made but Wal-Mart has confirmed that it plans to continue to work with Seiyu to improve the company’s performance.