March 18, 2019 / 5:07 AM / a month ago

New CEO of Walmart Japan and Seiyu says 'not here to sell a business'

TOKYO, March 18 (Reuters) - The newly appointed chief executive of Walmart Japan and Japanese supermarket chain Seiyu said on Monday he had no plan to sell the Japanese supermarket, following reports last year that Walmart was looking for a buyer.

"Absolutely not at all," Lionel Desclee said when asked whether such a sale was likely. "I'm not here to sell a business."

Japanese media reported last year that Walmart considered selling Seiyu, and that a sale could amount to around 300 billion to 500 billion yen ($2.69 billion to $4.48 billion). ($1 = 111.5200 yen) (Reporting by Ritsuko Ando)

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