TOKYO - The Japanese unit of Wal-Mart Stores, the world's largest retailer, said on Tuesday that it would actively seek opportunities for mergers and acquisitions as a way to grow.
Wal-Mart's operations in many countries are expanding through acquisitions. We will also consider such activities, Wal-Mart Japan CEO Toru Noda said at a briefing.
In Japan, Wal-Mart runs the Seiyu supermarket chain, which has about 370 stores. Noda took the helm at both Wal-Mart Japan and Seiyu this month.
Seiyu has been locked in fierce price competition against such local rivals as Seven & I and Aeon Co Ltd as Japan suffers from prolonged deflation. (Reporting by Taiga Uranaka)