Japanese supermarket chain Seiyu is planning to axe 450 management jobs as part of a business restructure.

The Wal-Mart owned retailer said the move would increase its full-year net loss from Y5.9bn (£25.2m) to Y10.4bn (£44.5m).

Last month, Seiyu warned it full-year net loss would fall to Y5.9bn, despite predicting earlier in the year that it would record a profit of Y800m (£3.4m).