Wal-Mart To Focus On Updating Current Stores In Japan, Will Not Leave Market, Local Top Executive Says

Wal-Mart Stores has no plans of leaving the Japan market, according to Takeshi Kamigouchi, head of the retailer’s local business. Japan’s retail market has been hit by consumer reluctance to spend made worse by the 2014 increase in national sales tax. Kamigouchi said Wal-Mart plans to focus on remodeling existing stores instead of opening new ones in 2016; however, the company may open new stores if good locations can be found. Wal-Mart, which operates Seiyu-brand stores in the country, has seen its same-store sales growing year-on-year in the past two years, the executive said.