Wal-Mart Considering Japan

Wal-Mart (Bentonville, Ark.) is reportedly in negotiations to acquire Mycal Corp. (Osaka, Japan), the failed Asian supermarket chain that has filed for bankruptcy court protection.

If successful, Wal-Mart will gain 100 outlets in Japan. The international retail giant already has outlets in China and South Korea.

About 30 companies, mostly investment funds, have shown an interest in buying the supermarket chain. However, only four or five of those are major retailers with which Mycal is said to be interested in negotiating.

One of Japan's largest supermarket chains, Mycal runs more than 230 stores in formats that include its mainstay Saty supermarkets (food, basic apparel, household items), Vivre fashion shops (apparel, accessories) and Mycal Town (complexes combining the Saty and Vivre concepts with other services). It also operates Pororoca supermarkets, movie theaters, sports facilities, restaurants and shopping centers.

Last week, rumors out of France had Wal-Mart bidding for Marks & Spencer's 38 retail stores in France, Spain, Germany, Belgium, Luxembourg and the Netherlands.