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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
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
