Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Indexes  >  Nikkei 225    N225   JP9010C00002

NIKKEI 225 (N225)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisHeatmapComponents 
News SummaryAll newsNews of the components ofTweets

Walmart looks to exit Japan with Seiyu supermarket sale - Nikkei

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/12/2018 | 04:20am CEST
A woman is reflected on a logo of Seiyu at its chainstore in Tokyo

TOKYO (Reuters) - U.S. retailer Walmart Inc has decided to sell Japanese supermarket chain Seiyu and has already approached major retailers and private equity funds, the Nikkei business daily reported on Thursday.

If realised, the sale could amount to around 300 billion to 500 billion yen (2.05 billion pounds to 3.41 billion pounds), the Nikkei said, without citing its sources.

Walmart said it does not comment on market speculation.

A sale would be the latest exit by Walmart from a lower-growth market as it looks to shake up its overseas business and invest in places like China and India.

The world's biggest retailer said last month it had sold an 80 percent stake in its Brazilian operations to private equity firm Advent International, exiting an underperforming business in its third major international deal since April.

In addition to competition from online retailers such as Amazon.com, Japan's supermarkets are being squeezed by chains such as convenience stores and discount drugstores in a sluggish consumption environment.

In January Walmart said it was launching an online grocery service with Rakuten Inc, in what Rakuten CEO Hiroshi Mikitani said he hoped may be a precursor to greater global cooperation.

Walmart has struggled to replicate the success of its low-price model with Seiyu despite the introduction of an "everyday low price" pledge and frequent discounting.

Japanese supermarkets, with lots of workers preparing fresh food and high levels of customer service, are famous for their low margins and are proving a drag for many retailers.

Recent industry consolidation saw the creation of FamilyMart Uny Holdings Co Ltd in 2016, a deal that focussed on expanding the number of FamilyMart convenience stores. Such stores have increasingly become a priority for retailers as a growth driver.

Discounter Don Quijote Holdings Co Ltd has taken a 40 percent stake in Uny as it looks for room to expand. Earlier this year Seven & i Holdings Co Ltd announced a tie-up with regional general merchandise store chain Izumi Co Ltd.

Japan's supermarket industry has proved difficult for foreign retail giants, with exits by Tesco in 2011 and Carrefour in 2005.

(Reporting by Sam Nussey and Kaori Kaneko in TOKYO and Nivedita Balu in BENGALURU; Editing by Chang-Ran Kim and Stephen Coates)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM -0.05% 1842.92 Delayed Quote.57.67%
CARREFOUR -0.89% 13.32 Real-time Quote.-25.50%
DON QUIJOTE HOLDINGS CO LTD 0.55% 5460 End-of-day quote.-6.83%
FAMILYMART UNY HOLDINGS CO LTD 0.19% 10770 End-of-day quote.35.81%
IZUMI CO LTD 0.00% 6780 End-of-day quote.-3.42%
NIKKEI 225 0.43% 22794.19 Real-time Quote.-0.74%
RAKUTEN INC 0.77% 807 End-of-day quote.-22.70%
SEVEN & I HOLDINGS CO., LTD. 0.32% 4638 End-of-day quote.-1.53%
TESCO -0.04% 256.4 Delayed Quote.22.58%
WAL-MART STORES -0.14% 88.07 Delayed Quote.-11.25%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NIKKEI 225
07/18MARKET SNAPSHOT: Dow Logs Longest Win Streak In A Month; Nasdaq Narrowly Miss..
DJ
07/18ASIA MARKETS: China's Stocks Turn South; Japan's Nikkei Continues Rally On We..
DJ
07/17WALL STREET STOCK EXCHANGE : U.S. Stocks Higher After Fed Chairman Jerome Powell..
DJ
07/17MARKET SNAPSHOT: Dow Gains For 4th Day In A Row, Nasdaq Logs Record After Ear..
DJ
07/17WALL STREET STOCK EXCHANGE : U.S. Stocks Higher After Fed Chairman Jerome Powell..
DJ
07/17WALL STREET STOCK EXCHANGE : U.S. Stocks Higher After Fed Chairman Jerome Powell..
DJ
07/17WALL STREET STOCK EXCHANGE : U.S. Stocks Turn Higher After Fed Chairman Jerome P..
DJ
07/17WALL STREET STOCK EXCHANGE : U.S. Stocks Tick Lower Ahead of Fed Chairman Powell..
DJ
07/17Global Stocks Lower Ahead of Fed Testimony
DJ
07/17Global Stocks Mixed Ahead of Fed Testimony
DJ
More news
News of the components of NIKKEI 225
07/18HONDA MOTOR : Elvia Fragstein's silver 2013 Honda CRV has been located and
AQ
07/18TOKYO ELECTRIC POWER : Controversial ads
AQ
07/18BRIDGESTONE : investing $12M, adding jobs in Normal
AQ
07/18Audit faults U.S. oversight of auto safety recalls, Takata inflators
RE
07/18OLYMPUS : Federal Contracts Awarded by Federal Agencies in Tennessee (July 18)
AQ
07/18HONDA MOTOR : Road rage incident leads to arrest of Rochester man
AQ
07/18NISSAN MOTOR : One millionth Juke built at Nissan Sunderland Plant
AQ
More news
Chart NIKKEI 225
Duration : Period :
Nikkei 225 Technical Analysis Chart | N225 | JP9010C00002 | 4-Traders
Technical analysis trends NIKKEI 225
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Heatmap :