New CEO of Walmart Japan and Seiyu says 'not here to sell a business'

FILE PHOTO: The logos of Walmart and Seiyu are pictured at the headquarters office in Tokyo, Japan July 12, 2018. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) – The newly appointed chief executive of Walmart Japan and Japanese supermarket chain Seiyu said on Monday he had no plan to sell the Japanese supermarket, following reports last year that Walmart was looking for a buyer.

“Absolutely not at all,” Lionel Desclee said when asked whether such a sale was likely. “I’m not here to sell a business.”

Japanese media reported last year that Walmart considered selling Seiyu, and that a sale could amount to around 300 billion to 500 billion yen ($2.69 billion to $4.48 billion).

Reporting by Ritsuko Ando


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.