Wal-Mart’s Seiyu Division Announces Store Closures
New York City Wal-Mart's Japanese subsidiary, Seiyu, announced plans to close 20 stores, which will affect 5% of the company’s 392 stores in the country.
The company stated that despite the closure, it will look to open stores in new geographic regions and consider acquisitions as a method of expansion.
Plans include the renovation of 100 large stores and the opening of smaller stores in areas not currently served by Seiyu.
Wal-Mart took control of Seiyu in 2008, after a six-year investment in the Japanese company.