Walmart to sell stake in Japanese supermarket chain Seiyu to KKR, Rakuten

Walmart to sell stake in Japanese supermarket chain Seiyu to KKR, Rakuten

A logo of Seiyu is pictured at its chainstore in Tokyo, Japan, July 12, 2018. REUTERS/Kim Kyung-Hoon

Walmart Inc is selling a majority stake in Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten for over $1 billion, after suffering years of poor profitability amid stiff competition.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter