• The New York Times reports that Ed Kolodzieski,, CEO of Wal-Mart’s Seiyu division in Japan, is promising that despite the expectation of continued losses there, the company has no plans to pull out of Japan.
"For Wal-Mart Stores, the Japanese market is clearly a very important market," he told a news conference. "I can tell you I have not had one single discussion with senior Wal-Mart executives ever about the topic of leaving Japan."
Wal-Mart has invested more than $1 billion in Seiyu over the past five years, but currently is predicting that its 2007 loss will be $50 million, and is not making any guarantees about 2008.
"For Wal-Mart Stores, the Japanese market is clearly a very important market," he told a news conference. "I can tell you I have not had one single discussion with senior Wal-Mart executives ever about the topic of leaving Japan."
Wal-Mart has invested more than $1 billion in Seiyu over the past five years, but currently is predicting that its 2007 loss will be $50 million, and is not making any guarantees about 2008.
- KC's View:
