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The British supermarket giant Tesco has admitted defeat in Japan and is pulling out of the country after an eight year attempt to crack the market.
It will sell half of its business to Japan’s number two retailer Aeon for a nominal sum.
Tesco has 117 outlets spread over the country.
The world’s third largest retailer is following the French giant Carrefour and the UK pharmacy Boots out of Japan’s notoriously tough market.
More about: Japan, Retail trade, Tesco, United KingdomCopyright © 2013 euronews
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