UK supermarket firm Tesco to leave Japanese market
June 19 , 2012
UK supermarket group Tesco has announced it is to exit the Japanese market.
The firm will leave Japan in a two stage process that will first see it sell 50 percent of its Tesco Japan subsidiary to the country's second-largest retail group, Aeon.
Tesco will then invest $62.67 million in the joint venture before its exit from the business.
No deadline for when this will happen has yet been announced.
The group entered Japan in 2003.