Marubeni Corporation, the majority shareholder in Japanese retail chain Daiei, has issued a statement denying reports that it has approached either Wal-Mart or AEON for help to revive the struggling retail chain. Meanwhile, Daiei has separately denied that it is in talks with third parties regarding a capital tie-up or the potential sale of Marubeni’s stake.

The statements were issued in response to a report in the Nihon Keizai business daily that Marubeni intends to sell some of its 44.6% stake in the supermarket operator to either Wal-Mart or Aeon. The Mainichi newspaper separately suggested that Aeon hoped to acquire 10% of Daiei from Marubeni.

Marubeni did say that it is willing to consider any strategic partnership and would consider proposals from other parties interested in investing in Daiei.

Japanese retailer Aeon issued a statement stating that it is not currently in talks with Marubeni on regarding possible investment in Daiei. A representative for US retail giant Wal-Mart told just-food that the company is always on the lookout for sound investments overseas but the company declined to comment further on market speculation.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.