Wal-Mart Japan CEO: will actively seek M&A

Write: Querida [2011-05-20]

Wal-Mart Japan CEO: will actively seek M&A

The Japanese unit of Wal-Mart Stores, the world s largest retailer, said last Tuesday that it would actively seek opportunities for mergers and acquisitions as a way to grow.

Wal-Mart s operations in many countries are expanding through acquisitions. We will also consider such activities, Wal-Mart Japan CEO Toru Noda said at a briefing.

In Japan, Wal-Mart runs the Seiyu supermarket chain, which has about 370 stores. Noda took the helm at both Wal-Mart Japan and Seiyu this month.

Seiyu has been locked in fierce price competition against such local rivals as Seven & I and Aeon Co. Ltd as Japan suffers from prolonged deflation.