JAPAN: Wal-Mart unit eyeing expansion
Seiyu, the Japanese arm of US retailer Wal-Mart Stores, is preparing to ramp up expansion in the market.
The Japanese retailer recently completed restructuring its unprofitable outlets and is now preparing to drive growth. A spokesperson for the company told just-food that, as part of its bid to expand operations, the retailer is planning to open an unspecified number of stores in the coming months.
"We are always considering opportunities for growth and it is one of the important strategies to open new stores for our growth," the Seiyu spokesperson said.
However, Seiyu declined to reveal the scale of investment or provide further details on the markets that would be targeted.
Wal-Mart holds a 91.5% stake in Seiyu. The company declined to comment on speculation that it could also be mulling M&A.
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