JAPAN/USA: Seiyu issues new shares, Wal-Mart increases stake
Japanese supermarket operator Seiyu, an affiliate of US retail giant Wal-Mart Stores, has said it plans to issue ¥7.735bn (US$65.2m) worth of new shares to avoid falling into negative net worth. Seiyu said it would issue the 35 million new shares at the end of August. Wal-Mart is to buy ¥4.46bn worth of the new shares, increasing its stake in Seiyu to 37.8% from 36.6%.
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