The Wall Street Journal reports that French retailer Carrefour plans to sell off its Japanese operations, part of its strategy of focusing on core operations and divesting marginal divisions as a way of raising cash to compensate for overall sales declines.
Carrefour, however, is denying the report.
The company has only been operating in Japan for about four years, and has just eight stores there. According to analysts, such a divestiture could generate as much as $400 million (US). While Japan is considered a hot market by many entities, it also has been a difficult market for some foreign companies.
Among the potential bidders for Carrefour’s Japanese holdings, according to the WSJ, are Wal-Mart and Tesco, each of which already has made acquisitions in Japan.
Carrefour, however, is denying the report.
The company has only been operating in Japan for about four years, and has just eight stores there. According to analysts, such a divestiture could generate as much as $400 million (US). While Japan is considered a hot market by many entities, it also has been a difficult market for some foreign companies.
Among the potential bidders for Carrefour’s Japanese holdings, according to the WSJ, are Wal-Mart and Tesco, each of which already has made acquisitions in Japan.
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