Wal-Mart has confirmed that its Japanese unit is eyeing acquisitions as a long-term strategy to fuel growth in the saturated market.
“My colleagues in Japan have been saying this for a while,” a spokesperson for the US parent told just-food.
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The spokesperson declined to comment on the prospects for acquisitions in the market or detail the size or scope of possible targets.
However, the spokesperson added that Wal-Mart Japan’s acquisitive ambitions were in line with the company’s global strategy to expand through M&A.
“I can’t discuss any specifics on prospective acquisitions, but suffice to say we’re always looking at new business opportunities around the world. Last year, we acquired D&S in Chile, to name a recent example,” he said.
Last year, Wal-Mart also said it would close around 23 outlets. Wal-Mart first invested in Seiyu in 2002 but Japan’s fifth-biggest retailer by sales has struggled in a competitive market. Seiyu became a wholly-owned Wal-Mart subsidiary in March 2008.
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