Wal-Mart plan to join the gathering of companies offering to rescue Japan’s third-largest supermarket chain, Daiei.

Wal-Mart’s offer of assistance would be in competition with other offers, including Tokyo-based Phoenix Capital, which has said it would buy 250bn yen ($2.3bn) of new Daiei shares, according to media reports.

The US supermarket retailer is to present is revival plan to the Industrial Revitalization Corp. of Japan (IRCJ) within a week.