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How Walmart flopped in Japan, and elsewhere overseas

New majority holders KKR and Rakuten race to revive battered Seiyu brand

Walmart's foreign flops can be attributed largely to tone-deaf management, which failed to take into account local business customs and other concerns. (Photo by Yo Tanaka)

TOKYO -- The overseas outlets of U.S. retail giant Walmart have been burdened by a jinx, the severity of which seems inversely proportional to their distance from the American mainland. In other words, the further away, the weaker their earnings.

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