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Business deals

Walmart to sell Japanese supermarket unit Seiyu

US giant reviews global strategy as it takes on Amazon

Seiyu became Walmart's wholly owned subsidiary in 2008. (Photo by Wakako Iguchi)

TOKYO -- Walmart plans to unload its unit Seiyu, a major Japanese supermarket chain, Nikkei has learned, as the U.S. retail giant reviews its global operations amid intensifying competition from online retailers, particularly

The unit is expected to fetch 300 billion yen to 500 billion yen ($2.7 billion to $4.5 billion) and would mark the largest shake-up in Japan's distribution industry since Uny Group Holdings merged with FamilyMart in 2016.

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