US retailing giant Wal-Mart Stores Inc. will explore more opportunities for corporate acquisitions in Japan, Vice Chairman Michael Duke said in an interview.

Duke, who oversees Wal-Mart's international operations, welcomed Japan's recent deregulation allowing foreign companies to use their local subsidiaries to acquire Japanese firms through stock swaps, according to the Nikkei newspaper.

He declined to comment, however, about whether Wal-Mart would ever consider pursuing a hostile takeover of a Japanese firm, the Nikkei said.

Wal-Mart recently lost to leading Japanese retailer Aeon Co. in its bid for a tie-up with troubled supermarket chain Daiei Inc.

Wal-Mart currently owns a 54 percent stake in Japanese supermarket operator Seiyu and holds the right to increase that to 66 percent by the end of this year.