business news in context, analysis with attitude


  • Wal-Mart reportedly has submitted a bid that would have it sponsoring the restructuring of Daiei Inc. the troubled Japanese retailer, in concert with both Japanese and American investment banks.

    No dollar figure has been put on what Wal-Mart would invest in the project. The proposal was submitted to the Japanese Industrial Revitalization Corp., which often helps troubled companies rehabilitate themselves.

    The Daiei move by Wal-Mart is part of what seems to be a broader effort to build a strong Japanese presence. It already owns more than a third of Seiyu, with the option to buy more, and there have been reports that it has offered Carrefour as much as $300 million to buy its Japanese business, though these reports have been denied by Carrefour.

KC's View: