Industrial and consumer goods group Marubeni has denied reports it is in talks with retail giant Wal-Mart or leading Japanese retailer Aeon over partnerships for the Daiei retail chain.

However, it admitted it was open to strategic tie-ups for the chain. Daiei also issued a statement saying it wasn't in talks with third parties at the moment.

The Nihon Keizai business daily had previously reported that Marubeni was looking to sell off some of its 44.6% stake in Daiei to either Aeon or Wal-Mart as it looks to revitalise its operations.