Wal-Mart will soon own 42% of Seiyu:
TOKYO - Japanese supermarket operator Seiyu Ltd. said Wednesday it will issue about $95 million worth of new shares to Wal-Mart Stores Inc.It might actually break even this year.The move will boost the U.S. retailer's stake to 42 percent from 37 percent in Tokyo-based Seiyu, which operates about 400 stores nationwide.
The purpose of the new share issue is to strengthen Seiyu's capital base by raising funds to be used for yet-to-be-specified general business projects, Seiyu said.
Posted by Kevin on May, 11 2005 at 01:18 PM
