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BUSINESS
August 23, 2006 | From Reuters
Wal-Mart Stores Inc.'s Japanese unit, Seiyu Ltd., said its first-half operating loss nearly halved on stronger same-store sales and lower costs. Wal-Mart's withdrawal from South Korea and Germany in the last three months had fueled speculation that it might quit Japan, where the world's biggest retailer has invested $1.3 billion since 2002 but never made a profit. Seiyu Chief Executive Ed Kolodzieski, who was sent from Wal-Mart in December when the U.S.
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BUSINESS
October 23, 2007 | From the Associated Press
Wal-Mart Stores Inc. said Monday that it would spend $875 million to take full ownership of its money-losing Japanese subsidiary, Seiyu Ltd., as the U.S. retailer struggled to speed up management changes and revive slumping performance in the world's second-largest economy. Reversing losses in Japan would be an added boost to Wal-Mart's already fast-growing international business at a time when growth in its home market is flagging. Wal-Mart, which owns a 50.9% stake in Seiyu, will pay $1.
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BUSINESS
November 3, 2005 | From Times Wire Services
A Wal-Mart Stores Inc. executive will take the helm of Seiyu Ltd., a Japanese retailer set to become a subsidiary of the U.S. chain in December, signaling Wal-Mart's determination to succeed in Japan's lucrative -- and finicky -- retail market. Wal-Mart also said it was taking control of Seiyu and would raise its stake to almost 54% from 42%.
BUSINESS
August 23, 2006 | From Reuters
Wal-Mart Stores Inc.'s Japanese unit, Seiyu Ltd., said its first-half operating loss nearly halved on stronger same-store sales and lower costs. Wal-Mart's withdrawal from South Korea and Germany in the last three months had fueled speculation that it might quit Japan, where the world's biggest retailer has invested $1.3 billion since 2002 but never made a profit. Seiyu Chief Executive Ed Kolodzieski, who was sent from Wal-Mart in December when the U.S.
BUSINESS
October 23, 2007 | From the Associated Press
Wal-Mart Stores Inc. said Monday that it would spend $875 million to take full ownership of its money-losing Japanese subsidiary, Seiyu Ltd., as the U.S. retailer struggled to speed up management changes and revive slumping performance in the world's second-largest economy. Reversing losses in Japan would be an added boost to Wal-Mart's already fast-growing international business at a time when growth in its home market is flagging. Wal-Mart, which owns a 50.9% stake in Seiyu, will pay $1.
BUSINESS
September 30, 2008 | From Times Wire Services
Wal-Mart Stores Inc.'s Tokyo subsidiary Seiyu Ltd. plans to close about 20 stores out of its total 390 outlets.
BUSINESS
August 19, 2004 | From Bloomberg News
Wal-Mart Stores Inc. said it might invest in Japan's No. 3 retailer, Daiei Inc., to expand its presence in Asia. Wal-Mart hired Goldman Sachs Group Inc. and Dresdner Kleinwort Wasserstein to review investment opportunities after Daiei said it was pursuing restructuring alternatives. The Bentonville, Ark.-based discount retailer already has a 37% stake in Tokyo-based supermarket chain Seiyu Ltd. and has an option to buy as much as two-thirds in 2007. Shares of Wal-Mart fell 38 cents to $54.
BUSINESS
October 1, 2005 | From Associated Press
Wal-Mart Stores Inc. said Friday that it would increase its stake in Japanese retailer Seiyu to more than 50% in a $600-million deal and promoted two executives to facilitate its expansion in the world's second-largest retail market. Wal-Mart, which has held a 42% stake in Seiyu Ltd., will purchase as much as $597 million of a $1-billion issue of ordinary and preferred shares by Seiyu, the Japanese retailer said. Mizuho Corporate Bank Ltd.
BUSINESS
November 14, 2007 | From Times Wire Services
Wal-Mart Stores Inc. reported a higher-than-expected profit Tuesday as it controlled expenses and cut prices to draw customers into its U.S. stores earlier than ever for holiday shopping, sending its shares to their highest one-day gain in five years. The world's No. 1 retailer also raised its full-year earnings forecast, and its shares rose 6.1%. "I can't say that this is it and the company's back on the upswing," Joseph Beaulieu, a Morningstar analyst, said of the third-quarter results.
BUSINESS
December 27, 2005 | From Times Wire Services
Seven & I Holdings Co., owner of 7-Eleven convenience stores in Japan and the United States, said Monday that it would buy department store operator Millennium Retailing Inc. in a cash-and-stock deal that would create Japan's largest retailer. Tokyo-based Seven & I aims to jump-start its growth with department stores that have been benefiting from improvement in Japan's economy, though the outlook for general merchandise and convenience stores remains gloomy because of market saturation.
BUSINESS
November 3, 2005 | From Times Wire Services
A Wal-Mart Stores Inc. executive will take the helm of Seiyu Ltd., a Japanese retailer set to become a subsidiary of the U.S. chain in December, signaling Wal-Mart's determination to succeed in Japan's lucrative -- and finicky -- retail market. Wal-Mart also said it was taking control of Seiyu and would raise its stake to almost 54% from 42%.
BUSINESS
April 2, 2005 | Rong-Gong Lin II, Times Staff Writer
Wal-Mart Stores Inc. is betting that a new ad campaign in Asian languages will translate into more sales. The world's largest retailer Friday began running newspaper, radio and television advertisements in Mandarin, Cantonese and Vietnamese in Los Angeles, the San Francisco Bay Area, San Diego and Houston, hoping to lure more Asian American shoppers to its stores. Print advertisements are also running in Taglish, a combination of Tagalog and English spoken by some Filipinos.
BUSINESS
August 23, 2006 | From the Associated Press
It's been weeks since Japan ditched its import ban on U.S. beef and the first shipment went on sale, but American beef is nowhere to be seen at supermarkets here -- except this nation's five Costco stores. Many Japanese are worried about the safety of U.S. beef, and retailers here say they aren't about to waste their time carrying an unpopular product. Instead, meat-section shelves are filled with domestic beef and cuts from Australia. Japan was once the top destination for U.S.
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