Wal-Mart Japan to focus on remodeling stores, no plans to exit market

Wal-Mart Stores expects its Japan business to focus on remodeling existing stores rather than opening new ones this year, citing fierce competition and consumer reluctance to spend freely amid uncertain economic times. Despite bold monetary and fiscal stimulus, Japan's consumer spending has been hit by a 2014 hike in the national sales tax, as well as increases in the cost of food and other goods on the back of a weaker yen. Kamigouchi said, however, the company's same-store sales in Japan had b