October 23, 2007 |
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.
September 30, 2008 |
Wal-Mart Stores Inc.'s Tokyo subsidiary Seiyu Ltd. plans to close about 20 stores out of its total 390 outlets.
August 19, 2004 |
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.
October 1, 2005 |
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.
November 14, 2007 |
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.
December 27, 2005 |
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.