Seven & I Holdings wants to be less of a bank and more of a convenience store operator, and the market is somewhat skeptical about that transformation.
The plan, which has been reported in the media but not confirmed by the company, is to sell Itochu a partial stake in Seven Bank and focus on the business of running 7-Eleven.
This doesn’t really add up, according to at least one analyst. The two businesses — banking and convenience store — are just too dependent on each other, and the argument that separating them will somehow make 7-Elevens better might not impress investors.
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