Wal-Mart Stores Inc. Aims to Tie-up With Daiei Inc.

Wal-Mart Stores Inc. placed a rival bid to tie-up with Daiei Inc. in Japan.

Daiei Inc. is one of Japan’s more economical stores = it’s cheaper to shop there than Isetan.

But, Daiei is in trouble. Why is it that Japan will not support cheap? I have a theory that perhaps I will explore in another posting.

Marubeni Co. is the largest shareholder of Daiei Inc. They are also overseeing Daiei’s recovery.

So far, two companies, Aeon Co. and Wal-Mart Stores, Inc. have submitted bids to rescue Daiei.

Seiyu is Wal-Mart’s subsidiary in Japan. Wal-Mart now owns 53% compared to just 42% 10 months ago.

It will be interesting to see how this battle between Aeon Co. and Wal-Mart Stores plays out.

My money is on Aeon.

How about you?