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Walmart expects $2 billion non-cash loss from stake sale in Japan's Seiyu

FILE PHOTO: The logo of a Walmart Superstore is seen during the outbreak of the coronavirus disease (COVID-19), in Rosemead, California, U.S., June 11, 2020. Picture taken June 11, 2020. REUTERS/Mario Anzuoni/File Photo

(Reuters) - Walmart Inc said on Monday it sees a non-cash loss of about $2 billion after tax, in its fourth fiscal quarter due to a sale of a majority stake in Japanese supermarket chain Seiyu.

The retailer also said it does not expect a significant impact to earnings per share following the close of the sale to investment firm KKR and e-commerce company Rakuten. (bit.ly/2IEBFzN)

The deal was first announced late Sunday, Eastern time.

Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli

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