Seiyu chain issues profit warning

Tokyo: Wal-Mart-owned supermarket chain Seiyu has issued a profits warning. The chain said it expected to record a full-year net loss of ¥5.9bn (£25.3m) - the sixth annual loss in a row - despite predicting in April that it would record a profit of ¥800m (£3.37m). This week Seiyu reported a ¥890m (£3.76m) increase in half-year operating loss to ¥2.2bn (£9.4m) on sales down 1.4% at ¥461.6bn (£1.95bn).