Wal-Mart Stores Inc. (Bentonville, Ark.) is among the potential suitors for Daiei Inc., the cash-strapped Japanese supermarket chain which is undergoing government-guided rehabilitation.
A Wal-Mart spokeswoman in Tokyo confirmed that the world’s largest retailer is interested in Daiei, as part of Wal-Mart’s efforts to grow internationally. She said the company is exploring opportunities, but refused to elaborate.
Daiei is being restructured under the Industrial Revitalization Corp. Japan, set up by both the public and private sectors to help struggling companies. Some Japanese retailers, including Ito-Yokado Co. and Aeon Corp., have also been reported as prospective bidders.
Wal-Mart already has a 37.3 percent stake in Japanese retailer Seiyu Ltd., which runs about 400 stores nationwide. Acquiring the Daiei chain would add some 200 stores. Since its arrival in Japan in 2002 through its Seiyu partnership, Wal-Mart has been gradually introducing its computerized systems, cost cuts and global-supply chain to its Japanese stores by remodeling stores and opening large-scale supermarkets, which are still relatively rare there.