By Yukiho Takaichi
Yomiuri Shimbun Staff Writer
Junro Ito, executive chair of Seven & i Holdings Co., explained the company sought a new path to growth when it sold York Holdings Co., an intermediate holding company overseeing non-convenience store businesses including Ito-Yokado Co., to U.S. investment fund Bain Capital Private Equity L.P. in September.
"The scale and required growth pace differ for each business. Becoming independent will open a new path," said Ito, the second son of the late founder of Ito-Yokado, Masatoshi Ito, in an interview with The Yomiuri Shimbun.
Regarding the domestic convenience store business, which has been struggling with sluggish performance, he pointed out, "With inflation persisting and real wages stagnant, price competition is intensifying, not just among convenience stores, but also against drugstores and small supermarkets." He emphasized that "while a one-size-fits-all approach worked before, we now need to vary offerings based on location," adding, "there is room for growth" through regionally tailored product assortments.
On the other hand, regarding the core U.S. convenience store business, he stated, "We will enhance profitability through investments in existing stores," indicating plans to invest in cooking equipment to offer Japanese-style food. He also expressed interest in mergers and acquisitions for the U.S. convenience store business.
After receiving a proposal to acquire Seven & i Holdings from Canadian convenience store giant Alimentation Couche-Tard Inc. $(ACT)$, the founding Ito family explored a management buyout as a countermeasure. However, they abandoned the plan due to insufficient funding. ACT also withdrew its acquisition proposal.
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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.
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December 25, 2025 18:34 ET (23:34 GMT)
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