India, June 26 -- Walmart Inc. plans to relist its Japanese supermarket subsidiary Seiyu to the stock market, according to reports. The move gains relevance amid speculations that U.S. retail giant may exit the tough Japanese market.
Walmart entered the Japanese market by acquiring a 6 percent stake in the then-struggling Seiyu in 2002 and gradually raised its holding in the supermarket chain before a full takeover in 2008.
Seiju was listed on the Tokyo Stock Exchange until 2008, before it became a wholly-owned subsidiary of Walmart.
The Nikkei Asian Review reported that Walmart hopes it will be easier for Seiyu to raise funds as a listed company. Walmart could decide to either list Seiyu or its holding company, Walmart Japan Holdings.
...