U.S.-based global investment company Kohlberg Kravis Roberts & Co is considering selling its stake in major Japanese supermarket operator Seiyu Co, sources close to the matter said Tuesday.

Bidding procedures have begun for the sale of shares, with leading domestic retailers such as Aeon Co and investment firms expressing interest in acquiring Seiyu, the sources said, indicating an acceleration of the restructuring of Japan's supermarket industry.

Seiyu operates about 240 stores in Japan. The company was formerly a subsidiary of U.S. retail giant Walmart Inc, but KKR purchased a stake in 2021. Currently, KKR holds 85 percent of the shares, while Walmart retains 15 percent.

"We don't have any specific comments," Seiyu said.

Elsewhere in the industry in Japan, a subsidiary of retail giant Aeon has acquired a supermarket chain based in the Kanto region, which includes Tokyo, as it seeks to grow in scale.

Meanwhile, Seven & i Holdings Co, the Japanese operator of the Seven-Eleven convenience store chain, has started the process of selling its supermarket business to focus on core areas in an attempt to fend off a takeover bid by a Canadian rival.