Wednesday, June 7th, 2006
The Wal-Marting of Japan
This just in from MSRNC. Wal-Mart is planning on buying a controlling interest in Japanese retailer Seiyu.
Seiyu Chief Executive Noriyuki Watanabe said becoming “a full member of the Wal-Mart family” will offer a stable financial base, allowing Seiyu to accelerate remodeling stores and opening new ones. It will also bring cheaper prices, he said.
Sure it will bring cheaper prices - by abusing the labor! I fully expect the phenomenon of karoshi to expand to Japan’s retail sector before too long.
(See original post on the old blog here - originally posted Sept. 30, 2005 9:18 AM)
