TOKYO & BENTONVILLE, Ark. – March 2021 – KKR, Rakuten Inc. (“Rakuten”), and Walmart Inc. (“Walmart”) have officially closed the transaction for the purchase of shares in Seiyu GK (“Seiyu”). Under the new ownership structure, KKR holds a 65% stake, Rakuten DX Solution, a subsidiary of Rakuten, owns 20%, while Walmart retains a 15% share in the company.
This acquisition strengthens Seiyu’s position in the retail market, leveraging KKR’s investment through its Asia private equity fund, Rakuten’s digital prowess, and Walmart’s longstanding retail expertise. The new shareholders are dedicated to advancing Seiyu’s growth, particularly in enhancing its digital transformation, positioning Seiyu as a leading omnichannel retailer in Japan.
Seiyu has already seen significant success, achieving record sales and profitability in 2020, with net sales increasing by 5.6% and a nearly 40% growth in EBITDA over the past two years. Rakuten Seiyu Netsuper, an online delivery service, also experienced a 40% year-on-year increase in sales, driven by growing demand for e-commerce.
To support further growth, Seiyu continues expanding its infrastructure with the opening of new fulfillment centers to meet the rising demand for online grocery shopping.
Mr. Tsuneo Okubo has been appointed CEO of Seiyu, tasked with steering the company into its next phase of development. He brings a wealth of experience from his career in Japan’s retail sector, with a focus on digital innovation and enhancing store operations. Mr. Okubo expressed his enthusiasm for Seiyu’s future, stating, “With the combined strengths of KKR, Rakuten, and Walmart, we are positioned to lead Seiyu into a new era of success.”
About Seiyu
Seiyu, established in 1963, operates over 300 retail units across Japan, offering a diverse range of products from fresh food to general merchandise. Known for its commitment to Everyday Low Prices, Seiyu has become a trusted name in Japanese retail, now supported by KKR, Rakuten, and Walmart.
About KKR
KKR is a global investment firm that provides alternative asset management and capital markets solutions. Known for its disciplined investment approach, KKR manages various funds in private equity, credit, and real assets, while also providing insurance solutions. For more information, visit www.kkr.com.
About Rakuten
Founded in 1997, Rakuten is a leader in internet services including e-commerce, fintech, and digital content. With operations in 30 countries and regions, Rakuten serves over 1.4 billion members worldwide. More details at global.rakuten.com.
About Walmart
Walmart Inc. serves over 220 million customers weekly through its global network of stores and eCommerce platforms. Focused on delivering savings and convenience, Walmart continues to lead in sustainability and corporate philanthropy. More information is available at corporate.walmart.com.
For further inquiries:
Seiyu Corporate Affairs: +813-3598-7760
KKR: [email protected]
Rakuten: [email protected]
Walmart: [email protected]