Wal-Mart bites the big one in Japan

[Taro Toporific]

Wal-Mart is the primary owner of Seiyu which seems to have just imploded.
Tokyo halts Seiyu trading
Tuesday, August 12, 2003 Posted: 0531 GMT
TOKYO, Japan (Reuters) -- The Tokyo Stock Exchange said on Tuesday it had halted trade in shares of retailer Seiyu Ltd, a Japanese affiliate of Wal-Mart Stores.
The TSE's move came after a report Seiyu planned to issue new shares by the end of August to avoid falling into negative net worth.
The Nihon Keizai Shimbun business daily said in its afternoon edition that Seiyu was in talks about the share issue with Wal-Mart, trading house Sumitomo Corp and other Japanese companies.

[Big Booger]

I wonder what the game plan for walmart will be with Seiyu. From what I could tell they certainly were starting to make a mark with the Seiyu stores, at least that was what was reported on J-TV a while back.

I think Walmart has the resources to come in and take control of the J-market. Goodbye Saty, so long Jusco..
Just like they nearly did to Kmart, Sears, Jcpenny etc.. in the states. Walmart sells everything from furniture, to tires and automotive care, even gas...

I wonder what is next, a used car lot, military supplies, indoor amusement parks?

[Taro Toporific]

I wonder what the game plan for walmart will be with Seiyu. From what I could tell they certainly were starting to make a mark with the Seiyu stores...

I directly hear their "game plan" every night at home ... AND damn if I make a dime in trading their stock. Seiyu is now UP 9% after being technically ZERO for a short time yesterday just before trading was halted.

[Big Booger]

Well if you invested in Seiyu at 0.01, a 9% return of a $10,000 investment is not so bad.