Seiyu KK (株式会社西友, Kabushiki-gaisha Seiyū), or Seiyu Group (西友グループ, Seiyū Gurūpu), is a Japanese group of supermarkets, shopping centers and department stores, headquartered in Akabane (赤羽), Kita, Tokyo.[1][4] On May 8, 2023, the Akabane headquarters office was relocated due to the redevelopment of Seiyu's Akabane store site. The current head office location is Kichijoji Honmachi, Musashino City, Tokyo.[5]
 | |
| Company type | Public (Kabushiki gaisha) |
|---|---|
| Industry | Retail |
| Founded | 1946 |
| Headquarters | Kichijoji Honmachi, Musashino City, Tokyo |
Number of locations | 328 (January 31, 2021)[1][2] |
Key people | Tsuneo Okubo (CEO)[3] |
| Products | Grocery, general merchandise |
| Owner | |
| Parent | Walmart (2008–2020) |
| Website | |
History
editThe group was established in December 1946, and was formed in 1956 by Seibu Department Stores, a group company of Seibu Railway. In 1980, Seiyu launched its private brand Mujirushi-Ryōhin (commonly known as MUJI outside Japan). MUJI was transferred to the Ryohin Keikaku Company[6] in 1990, and is no longer part of Seiyu.
On December 31, 2003, Seiyu and the US retail chain Walmart signed a partnership agreement in which Walmart would teach global supply chain practices.[7] Numazu, Shizuoka was the site of the first Seiyu store using Walmart methods.[7]
Walmart bought a 37 percent stake in Seiyu in 2003,[8] and according to a company press release,[9] in late 2005, Walmart acquired a majority stake in the company, buying out the remainder 2008.[10]
Previously, the company had a registered office in Higashi-Ikebukuro, Toshima, Tokyo.[11]
In 2019, Walmart named Lionel Desclée, formerly of Delhaize and the Belgian pet shop chain Tom&Co, president and CEO of both Seiyu and Walmart Japan. In remarks after his appointment, he said Walmart had no interest in selling Seiyu.[12] However, that June, Walmart outlined plans to relist Seiyu on the stock market.[13]
Over the 2019-2020 period, Seiyu comparative-store sales grew 180 basis points faster than the market and EBITDA increased by nearly 40%. In addition, Rakuten Seiyu Netsuper, jointly operated by Seiyu and Rakuten, recorded a nearly 40% year-on-year increase in gross merchandise sales in the fourth quarter of 2020.[14]
In 2020, Walmart announced they would be selling 65% of their shares in the company to private-equity firm KKR in a deal valuing 329 stores and 34,600 employees at $1.6 billion. Walmart is supposed to retain 15% and a seat on the board, while Japanese e-commerce giant Rakuten Inc. will receive 20%.[15]
In 2023 Rakuten announced it will sell its 20% stake in Seiyu to KKR. [16]
Past Regional Expansion Plans
editIn addition to its Japanese operations, Seiyu also had department stores operating under its name in Singapore and Hong Kong. The group used to directly operate these stores, but in October 2005, its three Singapore stores were sold to CapitaLand Limited,[17] which transferred them to Beijing Hualian Group later the same year.[18] The group's Hong Kong store in New Town Plaza, Sha Tin was sold to Sun Hung Kai Properties Limited in June 2005,[19] but like the stores in Singapore, continued to operate under the Seiyu name until April 2008. The Singapore stores were then renamed BHG, which stands for "Beijing Hualian Group".
Group companies
editSeiyu Group refers to an association of companies, of which The Seiyu, Ltd. is the parent. The companies in Seiyu Group are:
- The Seiyu, Ltd.
- Hokkaido Seiyu Co., Ltd.
- Tohoku Seiyu Co., Ltd.
- S.S.V. Inc.
- Kyushu Seiyu Co., Ltd.
- Sunny Co., Ltd.
- Wakana Co., Ltd.
- Smile Corp.
- The SCC, Ltd.
- Nicoh Inc.
- Nijicom Ltd.
- Smis Co., Ltd.
- Seiyu Service Co., Ltd.
References
edit- ^ a b "Company Profile." Seiyu. Retrieved on November 7, 2011. "Head Office 1-1, Akabane 2-chome, Kita-ku, Tokyo 115-0045, Japan"
- ^ "Walmart Investor Relations - Investors - Financial Information - Unit Counts & Square Footage". stock.walmart.com. Retrieved February 18, 2021.
- ^ "KKR and Rakuten Complete Seiyu Share Purchase from Walmart". Business Wire. March 1, 2021. Retrieved March 29, 2021.
- ^ "ACCESS:HEAD QUARTER." Seiyu. Retrieved on November 7, 2011. "Seiyu GK 1-1, Akabane 2-chome, Kita-ku, Tokyo, Japan 115-0045"
- ^ "西友が5年で1000億円投資 23年5月、本社売却へ". 日本経済新聞 (in Japanese). November 18, 2022. Retrieved March 12, 2024.
- ^ "History | Ryohin Keikaku Co. LTD".
- ^ a b Friedman, Thomas (2006). The World is Flat. New York: Farrar, Straus, and Giroux. p. 166. ISBN 978-0-374-29279-9.
- ^ "Japan Isn't Buying The Wal-Mart Idea". Archived from the original on April 27, 2006. Retrieved May 5, 2006.
- ^ Wal-Mart – Facts & News
- ^ "About Us".
- ^ "Corporate Data." Seiyu Group. Retrieved on May 19, 2009. "Registered Head Office 1-1, Higashi-Ikebukuro 3-chome, Toshima-ku, Tokyo, Japan 170-6071" and "Head Office 1-1, Akabane 2-chome, Kita-ku, Tokyo, Japan 115-0045"
- ^ "New Seiyu CEO says Walmart not looking to sell its Japanese supermarket chain". The Japan Times. March 18, 2019. Retrieved May 8, 2020.
- ^ "Walmart to relist Seiyu as US retailer revamps global operations". Nikkei Asian Review. Retrieved May 8, 2020.
- ^ "KKR and Rakuten Complete Seiyu Share Purchase from Walmart | DMN Newswire". March 2021.
- ^ Narioka, Peter Landers and Kosaku (November 16, 2020). "Walmart Retreats Around Globe to Focus on E-Commerce". Wall Street Journal. ISSN 0099-9660. Retrieved November 16, 2020.
- ^ "Japan's Rakuten offloads Seiyu stake as mobile losses mount". Reuters.
- ^ "CapitaLand acquires Seiyu stores in Singapore". October 19, 2005. Archived from the original on April 17, 2007. Retrieved March 25, 2006.
- ^ "Beijing Hualian buys Seiyu Singapore". China Economic Net. December 2, 2005. Archived from the original on February 23, 2006. Retrieved March 25, 2006.
- ^ "Sun Hung Kai Properties acquired Seiyu (Shatin) Company Limited". June 1, 2005. Retrieved March 25, 2006.
Further information
edit- Why Walmart Is Failing In Japan. CNBC. October 23, 2018. Archived from the original on December 22, 2021. - About Walmart's ownership of Seiyu Group
