In 2020, it seemed Walmart was in retreat from Japan. The retailer sold 85% of Seiyu to Japanese tech giant Rakuten and other buyers. But Walmart isn't one to put all its eggs in one basket – or to abandon any one basket completely. The retailer has invested $153 million for a 0.9% stake in Rakuten, the same Japanese technology company that purchased a 20% stake in Seiyu from Walmart in November of 2020. According to the retailer, the investment is just one of Walmart's strategic investments in global retail.
The Walmart investment in Rakuten is part of a $2.2 billion capital campaign by the tech/ commerce giant to better compete with Amazon, Facebook and Google around the world.