Although Wal-Mart was eliminated from a list of bidders to become the lead investor in the company, there may be other options for the company to have some investment in the retailer.
The IRCJ is due to choose from a shortlist of three groups lead by Japan’s leading retailer Aeon, a trading company, Marubeni and Kiacon, a private equity fund.
Wal-Mart’s Japanese retailing affiliate Seiyu, is due to unveil its full-year results next week. Wal-Mart has 38% in the company.
Elsewhere, Daiei, is reported to be pulling out of its overseas markets to concentrate on its domestic operations.
Daiei has four supermarkets in Hawaii and 12 in China, which it plans to sell off.
The company said it now expects a loss of 510bn yen for the year to February.