Seiyu, Wal-Mart agree to form comprehensive alliance

TOKYO, Japan - Masao Kiuchi (R), president of Seiyu Ltd., Charles Holley (C), senior vice president and chief financial officer of Wal-Mart Stores Inc., and Fumio Wada, vice president of Sumitomo Corp., join hands at a news conference at a hotel in Tokyo on March 14. Japan's supermarket chain operator Seiyu and the world's largest retailer, Wal-Mart, have agreed to form a comprehensive alliance. Under the agreement, trading house Sumitomo, Seiyu's largest shareholder, will increase its stake in Seiyu.

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