Walmart Reportedly Looking To Exit Japan

Japan looks to be the latest targeted divestiture of Walmart’s international portfolio, according to Nikkei business daily. The local news report cites Walmart as already having approached several major retailers and private equity funds about the sale of Seiyu, its Japanese grocery chain.

Walmart said it does not comment on rumor and has not confirmed any negotiations. The business is worth between $2.7 billion and $4.5 billion, according to the Nikkei report.

The retail giant has recently downsized its positions in the United Kingdom, a mature and slow-growth market akin to Japan. This also comes after the Bentonville-based retailer sold a majority stake in its Brazilian business. Walmart has made no secret it intends to reduce its international holdings and focus on markets with highest long-term growth potential such Mexico, India and China. Insiders have also suggested a potential sale of the struggling small business in Argentina.    MORE

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