US retail titan Wal-Mart is interesting in acquiring another Japanese retail chain as well as increasing its stake in Seiyu, according to John Menzer, head of the company’s international operations.
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Menzer said Wal-Mart may buy another Japanese retailer to expand its operations in Japan, probably in the fiscal year to December 2007, when Seiyu’s current restructuring plan is due to come to an end, reported Asia Pulse.
Wal-Mart has a 37.8% stake in Japanese supermarket chain Seiyu, with an option to raise its stake to 50.1% by the end of 2005, which Menzer said the company is likely to do.
