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Walmart plans to sell Japanese supermarket chain Seiyu: Nikkei

Reuters  |  TOKYO 

(Reuters) - U.S. retailer Inc has decided to sell Japanese and has already approached major retailers and funds, the Nikkei daily reported on Thursday.

If realised, the sale could amount to around 300 billion to 500 billion yen ($2.7 billion to $4.5 billion), the Nikkei said, without citing its sources.

said it does not comment on market speculation.

The world's biggest retailer said last month it had sold an 80 percent stake in its Brazilian operations to firm Advent International, exiting an underperforming in its third major international deal since April.

has been looking to jumpstart its overseas by retreating from lower-growth markets and investing in places like and

In addition to competition from such as, retailers in are grappling with sluggish consumer spending as the country struggles to escape from 15 years of deflation.

Other global have also exited Japan, including in 2011 and in 2005.

(Reporting by in and Nivedita Balu in BENGALURU; Editing by and Stephen Coates)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 06:22 IST