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Seven & i Holdings Co. rose slightly on reports that it plans to list or sell part of its supermarket unit Ito-Yokado, which has been under pressure to restructure in the face of intensifying competition from discount stores and online retailers.
(Bloomberg) -- Seven & i Holdings Co. is considering a listing of Ito-Yokado, the historic supermarket retail core of the company, and eventually split it off from the more profitable and faster-growing 7-Eleven franchise to focus its efforts on making convenience stores a global business.Most Read from BloombergUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsBond Trader Places Record Futures Bet on Eve of Inflation DataIran’s Better, Stealthier Drones Are Remaking Global Warfare
Seven & i Holdings Co. will spin off and list its Ito-Yokado supermarket operations as early as fiscal 2027 as part of efforts to drive the struggling business's growth by leveraging external capital.
Expansion plans will be supported by strategic investments and the development of more aggressive business proposals.
Everyone loves Japan’s ubiquitous convenience stores, known locally as conbini.