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  • Seiyu of Japan, in which Wal-Mart has a 37.8 percent ownership stake, reported the equivalent of a $61.1 million loss for fiscal year 2003, which was a 92 percent reduction in the loss reported for 2002. Total sales were down almost 18 percent to $8 billion (US), while same-store sales were down 3.7 percent.

    However, the general analysis is that Wal-Mart has Seiyu moving in the right direction in terms of creating efficiencies, and is likely to increase its ownership in the company to 66.7 percent by 2007, as provided in the deal between the two companies.

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