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April 26, 2025
 

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A 7-Eleven convenience store, operated by Seven & I Holdings, in Tokyo
BUSINESS / Companies
Feb 26, 2025

Seven & I buyout talks stall over management control

The founding Ito family and Itochu have yet to reach consensus on the composition of the board of the post-buyout entity, sources said.
Itochu dropping its Seven & I Holdings buyout plan would place Alimentation Couche-Tard’s offer back in the limelight.
BUSINESS / Companies
Feb 27, 2025

Itochu drops Seven & I buyout, putting Couche-Tard back in limelight

An individual with an understanding of the deal said Itochu and Seven & I lacked synergy to justify the deal.
The rapid collapse of the plan to take Seven & I private reflects how personal egos and domestic competitiveness ultimately outweighed the nationalistic desire to fend off Canada’s Alimentation Couche-Tard, whose pursuit of the Japanese retailer emerged last August.
BUSINESS / Companies
Mar 2, 2025

Seven & I and Nissan deal fallout leaves Japan companies vulnerable

The collapse of the deals means the companies are potentially even more vulnerable to foreign takeovers.
Seven & I Holdings CEO Ryuichi Isaka is stepping down from his position, the Nikkei newspaper has reported.
BUSINESS / Companies
Mar 3, 2025

7-Eleven owner to appoint first foreign CEO, report says

The owner's plan to take the company private to avoid being taken over by Couche-Tard collapsed last week, piling pressure on it to reconsider the $47 billion takeover proposal.
The Seven & I takeover saga is being closely watched as a test case of Japan’s openness to foreign capital, after recent governance reforms banned corporations from ignoring overtures that may raise value for shareholders.
BUSINESS / Companies
Mar 4, 2025

Seven & I shares fall amid report it may reject buyout offer

The company said it is still having constructive discussions with Couche-Tard after a report said it would reject the offer.
Seven & I has spent months fending off Couche-Tard’s takeover bid with complex maneuvers, but instead of chasing defensive strategies, it should focus on strengthening its core convenience-store business, which still has untapped potential.
COMMENTARY / Japan
Mar 4, 2025

7-Eleven’s time-wasting isn’t so convenient

Retail is a fast-moving industry — and months spent fending off Couche-Tard means less focus on strategy.
Seven & I named Stephen Hayes Dacus as its first foreign chief executive on Thursday.
BUSINESS / Companies
Mar 6, 2025

Seven & I announces measures to fend off Couche-Tard takeover

The announcements are the latest twist in a saga that began last year when Seven & I rebuffed a takeover offer from Canada's Alimentation Couche-Tard.
Couche-Tard has made clear that it wants to learn from Seven & I Holdings to improve its North America operation, and has ruled out going hostile in takeover talks.
BUSINESS / Companies
Mar 7, 2025

Couche-Tard holds talks for sale of U.S. shops in Seven & I deal

The retailer last year proposed to purchase Seven & I Holdings for $18.19 per share, but so far hasn’t been able to enter negotiations with the firm.
Seven & I Holdings says it has agreed to jointly explore store sell-offs with Alimentation Couche-Tard to address antitrust concerns ahead of a potential merger.
BUSINESS / Companies
Mar 10, 2025

Shareholder pushes Seven & I to engage with Couche-Tard

The operator of 7-Eleven stores says that it is doing so, and has rebuffed Artisan Partners Asset Management’s assertions of conflicts of interest within the board.
In the Japanese credit market, Change of Control covenants — which give bondholders certain rights to redeem the debt before maturity if the borrower has a significant change in ownership structure — have been very rarely seen, until now.
BUSINESS / Companies
Mar 10, 2025

Japan credit investors seek shield from M&A risks as deals boom

Change of Control clauses, which had been rare in Japan, are being increasingly sought by investors.
Alimentation Couche-Tard founder and executive chairman Alain Bouchard (left) and President Alex Miller hold a news conference in Tokyo on Thursday.
BUSINESS / Companies
Mar 13, 2025

Alimentation Couche-Tard ramps up campaign to take over Seven & I

The Canadian convenience store giant and owner of Circle-K has sought to combat skepticism surrounding the deal, most recently with a news conference in Tokyo.
Alimentation Couche-Tard founder Alain Bouchard (center), CEO Alex Miller (left) and CFO Filipe Da Silva attend a photo session after a news conference on their bid for Seven & I Holdings in Tokyo on Thursday.
BUSINESS / Companies / EXPLAINER
Mar 17, 2025

Why Couche-Tard's deal with Seven & I isn't going anywhere

The buyout bid has seen a mixed response in Japan, with some expressing concerns over the convenience store chain being taken over by a foreign company.
Alain Bouchard (left), chairman and founder of Alimentation Couche-Tard, speaks during a news conference in Tokyo on March 13.
BUSINESS / Companies
Mar 19, 2025

Couche-Tard meets privately with Seven & I investors, pressing case for takeover

The Canadian firm has sought to reassure the public and key stakeholders that it's not considering a hostile takeover, despite a monthslong standoff with Seven & I.
A 7-Eleven convenience store, operated by Seven & I Holdings, at the company's headquarters in Tokyo
BUSINESS / Companies
Mar 19, 2025

Seven & I signs confidentiality pact with Canada’s Couche-Tard

The nondisclosure agreement (NDA) will pave the way for discussions around antitrust issues in the United States, Seven & I said.
Alex Miller, CEO of Alimentation Couche-Tard, speaks during a news conference in Tokyo last week.
BUSINESS / Companies
Mar 20, 2025

Couche-Tard seeks to reassure investors on Seven & I approach

The parent company of the Circle K chain has been pursuing Seven & I for months, bidding almost $50 billion for it, but has been rebuffed.
Potential buyers for a package of 7-Eleven and other convenience stores have until the end of March to express their interest, Alimentation Couche-Tard Chief Financial Officer Filipe Da Silva said.
BUSINESS / Companies
Mar 26, 2025

Couche-Tard sees strong interest in U.S. stores for Seven & I deal

The Canadian company has agreed with Seven & I to seek a buyer for overlapping retail outlets as a prerequisite for takeover talks to sidestep U.S. antitrust concerns.
Seven & I Holdings released forecasts for this year's operating profit and revenue that are lower than analysts' estimates.
BUSINESS / Companies
Apr 9, 2025

Seven & I’s guidance miss adds to pressure amid takeover bid

Seven & I said it expects domestic convenience store sales to rise 9.4% this fiscal year, while seeing revenue from overseas convenience stores falling 3.6%.
The operator of 7-Eleven convenience stores is taking a series of steps to boost its value, including share buybacks, selling the under-performing superstore business and divesting its banking unit.
BUSINESS / Companies
Apr 10, 2025

Seven & I jumps most in a month on buyback plan and broader buying

The operator of 7-Eleven convenience stores is taking a series of steps to try to boost shareholder value amid a takeover bid by Canadian retailer Alimentation Couche-Tard.
The 7-Eleven convenience store operator plans to add five new directors to the board, four of whom will be from outside the company.
BUSINESS
Apr 17, 2025

Seven & I proposes five new directors as part of board revamp

The 7-Eleven convenience store operator plans to add five new directors to the board, four of whom will be from outside the company.
MS&AD forecasts that net profit for its North American operations will reach ¥166 billion in the fiscal year ended in March, a 3.5fold increase from the previous fiscal year.
BUSINESS
Apr 22, 2025

Insurer MS&AD plans to invest $5 billion to double U.S. profits

The Tokyo-based casualty insurer has the highest market share in Asia among global firms, but it’s No. 3 among Japanese peers in North America.
Stephen Dacus, incoming chief executive officer of Seven & I Holdings, speaks during an interview at the company's headquarters in Tokyo on Friday. Dacus plans to boost investments in its U.S. stores using cash from a planned listing of its American retail operations.
BUSINESS / Companies
Apr 25, 2025

Seven & I’s new CEO plans aggressive investments in U.S. stores

In addition to investing in its North America operations, Stephen Dacus is also looking to review the company’s supply chain globally.
Naked man’s rampage in Saitama linked to one fatality and 10 injured
Police believe Daisuke Nishimura may have been involved in roughly 20 incidents in the 90 minutes leading up to his arrest, including a fatal hit-and-run and multiple assaults.
Japan set to fine cyclists on the spot for rule violations from 2026
Under new rules, those who use smartphones while riding a bicycle would be subject to the maximum fine of ¥12,000.
Japan brings forward deadline for electronic travel authorization system
Japan is planning to implement by March 2029 a new online screening system in which foreign visitors who don’t need a visa apply for a certification before entering the country.
Built in a flash, Osaka Expo pavilions wrestle with sustainability
Kengo Kuma & Associates oversaw the construction of the Malaysia pavilion, which is encased in interwoven rows of bamboo that appear to ripple.
Social media helps fuel growing 'sex tourism' in Japan
People walk down a street in the red-light entertainment area of Kabukicho in the Shinjuku district of Tokyo on March 31.
Amid uncertain tariffs, is now the time to buy a new iPhone?
An Apple store in Tokyo's Shibuya Ward in September. Prices for the newest iPhone models start at around ¥100,000 ($700) in Japan.
Built in a flash, Osaka Expo pavilions wrestle with sustainability
Kengo Kuma & Associates oversaw the construction of the Malaysia pavilion, which is encased in interwoven rows of bamboo that appear to ripple.
Japan weighs using U.S. rice imports as tariff negotiation tool with Trump
A restaurant owner pours California-grown Calrose rice into a rice cooker at his restaurant in Tokyo
Is Japan’s parliament ready to welcome more youth to its ranks?
Lower House lawmaker Kai Odake in his Tokyo office on Wednesday
Crow meat, goat tartare: Mauvaise Herbe raises its game
Crow meat, shaped into a ball and attached to a foot of the bird, is one of the peculiar offerings of game at Mauvaise Herbe.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Visitors walk past Sou Fujimoto's Grand Ring, which has been recognized as the largest wooden structure in the world.
Can a World Expo still matter? Japan is about to find out.
By Tomoko Otake

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