JAPAN: Wal-Mart rumours send Seiyu shares soaring
Trading on the Tokyo Stock Exchange today [Tuesday] saw shares in Japanese retailer Seiyu soaring, following rumours that it and its equity partner Wal-Mart will together sell discount goods from China at certain Seiyu stores. The products will probably include casual clothing manufactured in China and other areas in Asia where Wal-Mart does business, and consumer prices will reflect Wal-Mart's massive buying power. They will be sold in specially renovated Seiyu stores, primarily in the Tokyo area. The outlets may bear the Wal-Mart name.
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