Japan’s fifth largest supermarket chain Seiyu has announced that the tie-up plan with US retail giant Wal-Mart Stores announced in March was approved by shareholders at regular meeting earlier today [Thursday].

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Wal-Mart will initially purchase a 6.1% stake in Tokyo-based Seiyu for ¥6bn (US$46m), with a view to retaining the ultimate right to take over the company at a later date. Earlier this week, news reports speculated that the deal would be rejected however because the price was too low.


Wal-Mart said that eventually it would spend ¥260bn to increase its 6.1% stake to 66.7%, a transaction that will take place before 2007.


Meanwhile, Japanese trading house Sumitomo Corp., which currently ranks as Seiyu’s top shareholder, announced that it will pay ¥5bn to increase its stake to 15.6%.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now