Don Quijote Interested in Seiyu Acquisition: Pres. Ohara

August 14, 2018

Tokyo- Koji Ohara, president of discount store operator Don Quijote Holdings Co. on Monday indicated that the company will positively consider acquiring Japanese supermarket chain Seiyu G.K., a unit of U.S. retail giant Walmart Inc.

Walmart is reportedly mulling the sale of Seiyu.

"We would be interested (in buying Seiyu), if Walmart really sells the company," Ohara said at a meeting in Tokyo to explain his company's earnings in the year to June.

As reasons for the positive stance, Ohara cited good locations for Seiyu stores and the supermarket operator's excellent human resources. Seiyu has many outlets in front of train stations and in other convenient locations.

Meanwhile, some of Seiyu outlets are aging. That is "a negative point," Ohara said, suggesting that his company would scrutinize the condition of each Seiyu outlet.

Meanwhile, Don Quijote Holdings said Monday that it will build a commercial complex with 28 stories above ground and one below on a plot of some 5,700 square meters in the Dogenzaka district of Tokyo's fashionable Shibuya Ward. Construction is slated to start in April 2022.

The first to third floors will be used for shops, the fourth to 10th floors for offices, and the 11th and higher floors as hotel spaces. Jiji Press