Wal-Mart makes bid for its Japan affiliate

Seiyu buyout offer comes to $875 million

Wal-Mart Stores Inc. offered Monday to buy all outstanding shares of its Seiyu Ltd. subsidiary in Japan at a cost of about $875 million despite expectations that the Seiyu retail chain will lose money for the sixth year in a row.

Wal-Mart's international division grew sales by 30 percent last year, well ahead of the 11 percent gain in U.S. store sales. The company does not post figures by country.

That trend has continued this year with international sales up 20.1 percent in September and 16.7 percent for the quarter that ended Oct. 5. For the same period, U.S. store sales were up 6.4 percent and 6.3 percent.

For more information see today's Arkansas Democrat-Gazette.

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