KKR and Rakuten, a Japanese electronic commerce and online retailing company based in Tokyo, completed the acquisition of the 85% stake in Seiyu, a Japanese group of supermarkets, shopping centers and department stores, from Walmart for c. $1bn. KKR acquired 65% stake in Seiyu, and Rakuten acquired a 20% stake, through a newly created subsidiary focused on retailer digital transformation. Walmart retained a 15% stake in Seiyu. "Together with KKR, Rakuten and Walmart, we have a tremendous opportunity to build on Seiyu’s achievements and stature in the market to take its business to the next level of success. Looking ahead, we are excited to accelerate Seiyu’s digital transformation to better meet the evolving shopping needs of our customers while continuing to expand on strong in-store presence in communities across Japan," Tsuneo Okubo, Seiyu CEO.