Walmart nearly exits Japan after selling $1 bn-stake in retail chain Seiyu

US-based Walmart is selling a majority stake in Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten for over $1 billion. KKR will buy 65% of Seiyu and Rakuten will acquire a 20% stake while Walmart will retain 15%. It entered Japan in 2002 by buying 6% stake in Seiyu and gradually took over entirely in 2008.