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April 26, 2025
 

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Former President Donald Trump with Elon Musk during a campaign rally in Butler, Pennsylvania on Oct. 5. The Tesla billionaire is a key figure in the president-elect's orbit. One question is whether his views on climate and clean energy will have any sway.
WORLD
Nov 9, 2024

Musk believes in global warming. Trump doesn’t. Will that change?

The Tesla billionaire is a key figure in the president-elect's orbit. One question is whether his views on climate and clean energy will have any sway.
For Seven Bank, greater independence from its parent Seven & I Holdings could lead to new growth opportunities.
BUSINESS / Companies
Nov 11, 2024

Seven Bank seeks to expand cash-machine network beyond 7-Elevens

Deconsolidation from Seven & I resulting from a reduction of its stake in Seven Bank would make such a scenario more possible.
Global investment firms plan to beef up hiring in Japan, as deals surge on the domestic market.
BUSINESS / Companies
Nov 12, 2024

Global investment firms hunt for talent in Japan as deals boom

The hiring spree underscores the intensity of dealmaking in Japan, which has been a rare bright spot amid a slowdown in M&A deals globally over the last couple of years.
Seven & I Holdings has closed its convenience stores in Israel.
BUSINESS / Companies
Nov 13, 2024

Seven & I closes all eight convenience stores in Israel

Seven & I opened its first convenience store in Israel in January last year.
Seven & I Holdings on Wednesday said that it has received a nonbinding offer for the company from Junro Ito, a vice president and representative director of the company, and Ito Kogyo, a company connected to him.
BUSINESS / Companies
Nov 13, 2024

Seven & I considers massive management buyout offer

The offer brings together a member of the company’s founding family, a giant trading company and some of Japan’s largest banks.
There is a broad shift in Japan’s business environment, where long-standing relationships are being challenged by foreign and activist investors looking for merger and acquisition deals.
COMMENTARY / Japan
Nov 15, 2024

Japan's newfound love of M&A makes for strange bedfellows

There is a broad shift in Japan’s business environment, where long-standing relationships are being challenged by foreign and activist investors.
Masahide Endo, chief consultant at Daiwa Institute of Research noted that Alimentation Couche-Tard's bid for Seven & I Holdings had spawned a sense of crisis in other industries over sudden takeover proposals.
BUSINESS / Economy
Nov 18, 2024

Japanese companies increasingly targeted in foreign M&A bids

The total value of inbound acquisitions from overseas is up about 3.7 times year on year.
Funding for the proposed buyout of Japan's Seven & i Holdings by its founding family will be finalized by the end of December, sources say.
BUSINESS / Companies
Nov 21, 2024

Seven & I buyout funding to be finalized by next month, sources say

The retailer is caught in a three-way tug-of-war between a foreign suitor, its founding family and company management.
A 7-Eleven convenience store in Tokyo
BUSINESS
Nov 23, 2024

Seven & I founding family sounded out KKR and others about buyout: report

In addition to KKR, the founding Ito family also approached Bain Capital and Apollo Global Management.
People take pictures of an Ito-Yokado store in Kasukabe, Saitama Prefecture, that closed on Sunday.
BUSINESS / Companies
Nov 25, 2024

Ito-Yokado closes store that inspired 'Crayon Shin-chan' supermarket

Many customers and fans gathered and gave applause and words of gratitude when the store was closed.
Itochu has tapped Daiwa Securities Group and the founding Ito family has hired SMBC Nikko Securities as financial advisers for their ¥9 trillion ($58.4 billion) proposal to take Seven & I Holdings private, people with knowledge of the matter have said.
BUSINESS / Companies
Nov 25, 2024

Nomura, Daiwa and other advisers win coveted Seven & I buyout roles

The multitude of financial advisers reflects the complexity of any potential buyout, as well as the lucrative fees if consummated.
Alimentation Couche-Tard CEO Alex Miller said on Tuesday the Canadian retailer remains persistent in its efforts to pursue a deal with Seven & I Holdings.
BUSINESS / Companies
Nov 27, 2024

Couche-Tard not giving up on bid to acquire 7-Eleven owner

The commitment comes despite a new management buyout proposal from the founding family of Seven & I Holdings valued at about $59 billion.
SoftBank is unhappy that Moody's continues to issue ratings on the company.
BUSINESS / Companies
Nov 28, 2024

SoftBank blasts Moody’s for unsolicited ratings

It says it is considering legal action against the agency, which has continued to publish unsolicited ratings of the company over the past several years.
Shoppers wait at the checkout lines at an Ito-Yokado shopping centre after a sales tax hike in Tokyo April 1, 2014. Big firms expect to increase capital spending only modestly, the Bank of Japan's (BOJ) tankan quarterly survey showed on Tuesday, reflecting uncertainty over how much a sales tax hike that kicked off on Tuesday could hurt a fragile economic recovery. REUTERS/Toru Hanai (JAPAN - Tags: BUSINESS)
BUSINESS / Companies
Dec 6, 2024

Ito-Yokado to reduce headcount of permanent employees by 1,000

The Seven & I Holdings unit will implement the reduction through personnel relocations and natural reductions, mainly through mandatory retirement.
Izumi Kobayashi, director of Mizuho Financial, Omron and ANA, speaks during the Reuters Next conference in New York on Tuesday.
BUSINESS
Dec 11, 2024

Mizuho director says companies should not overreact to Trump's tariff threats

It would be difficult for companies to withdraw from China given its mammoth size, said Izumi Kobayashi.
People are seen at one of Seven & I Holdings's 7-Eleven convenience stores in Tokyo in January 2017.
BUSINESS / Companies / ANALYSIS
Dec 12, 2024

7-Eleven battle shows resilience of Japan Inc.'s family ties

Founding families are able to wield considerable power in Japanese companies despite holding small stakes.
Sumitomo Mitsui Banking Corp., Nomura Holdings Inc. and SBI Holdings Inc. are among at least 20 companies that have invested in X&KSK Fund, which is set up by former national soccer star Keisuke Honda.
BUSINESS / Companies
Jan 3, 2025

Soccer star Honda’s venture capital AI fund raises $98 million

Keisuke Honda, who has scored goals in three World Cups, seeks to create a so-called decacorn in Japan — a closely held company with a market value of more than $10 billion.
Fast Retailing’s November-ending quarter may have seen operating profit growth soften as warmer autumn-winter temperatures dented sales, even with the backdrop for consumer spending in Japan looking promising.
BUSINESS / Companies
Jan 3, 2025

Uniqlo and 7-Eleven face sales headwinds despite brighter consumer spending

Uniqlo parent Fast Retailing and Seven & i Holdings are among the first to kick off this earnings season in Asia.
A potential foreign acquisition of Japanese retail giant Seven & I would be "heavily related" to national security, Japan's economy minister Ryosei Akazawa said on Wednesday.
BUSINESS
Jan 8, 2025

Japan flags foreign takeover of 7-Eleven owner as a security issue

His public comment is the first by a senior Japanese official over security issues raised by a $47 billion buyout offer by Canada's Alimentation Couche-Tard.
Firms in Japan are becoming more proactive to fend off global rivals and activist investors showing renewed interest in the country after decades of stagnant growth.
BUSINESS / Companies
Jan 9, 2025

Japan’s ¥36.4 trillion M&A boom expected to grow as activist investors circle

Firms are becoming more proactive to fend off global rivals and activist investors showing renewed interest in the country after decades of stagnant growth.
Seven & I Holdings reported Thursday that its operating profit was ¥128.4 billion during the three months to the end of November, compared with ¥169 billion a year earlier.
BUSINESS / Companies
Jan 9, 2025

Seven & I profit drops despite recovery in convenience stores

Operating profit was ¥128.4 billion during the three months to the end of November, compared with ¥169 billion a year earlier.
A government minister has said the acquisition of 7-Eleven by foreign capital is majorly related to economic security.
BUSINESS / Companies
Jan 10, 2025

Japan to consider 'economic security' in 7-Eleven takeover

Economic revitalization minister Ryosei Akazawa highlighted the role Japan's convenience stores can play in times of crisis, such as after major earthquakes.
Apollo Global Management is discussing a commitment of as much as ¥1.5 trillion for an equity stake in a bid by Seven & I’s founding Ito family to take the convenience store operator private.
BUSINESS / Companies
Jan 10, 2025

Apollo weighs $9.5 billion stake in Seven & I management buyout

Under the current proposal, Apollo would join the Ito family and Itochu, the operator of FamilyMart in Japan, as key investors.
Lawson and FamilyMart enjoyed net profit increases in the March-November 2024 period, while Seven & I Holdings suffered a sharp deterioration in its bottom line, according to their latest earnings reports.
BUSINESS / Companies
Jan 16, 2025

Lawson and FamilyMart enjoy net profit growth in March-November

FamilyMart's net profit went up 62.4% to ¥80 billion because of special profit from a realignment of Chinese operations.
KKR is discussing investing several hundred billion yen for an equity stake in the operator of 7-Eleven convenience stores.
BUSINESS / Companies
Jan 16, 2025

KKR considers joining Seven & I management buyout after Apollo

The U.S. firm is discussing investing several hundred billion yen for an equity stake in the operator of 7-Eleven convenience stores.
A surge in management buyouts has come amid increasing pressure from activist investors to improve corporate value, and the burden of maintaining a listing.
BUSINESS / Markets
Feb 5, 2025

Japan weighs tougher management buyout rules to protect minority shareholders

A surge in buyouts has come amid increasing pressure from activist investors to improve corporate value.
The consortium proposing to take Seven & I Holdings private has tapped Citigroup and Bank of America for financing, adding to a growing group of players in the potentially record-breaking management buyout bid, people familiar with the matter said.
BUSINESS
Feb 7, 2025

Seven & I consortium to tap Bank of America and Citi for financing

The two U.S. banks’ role in the bid would be to refinance the debt of Seven & I’s U.S. unit.
Bulk food dispensers at a new 7-Eleven store in Matsudo, Chiba Prefecture. Opened a year ago, Seven & I Holdings conceived it as a prototype to test the synergies between the company’s retail supermarket chain and its more-successful convenience-store business.
BUSINESS / Companies / FOCUS
Feb 10, 2025

Blended 7-Eleven-and-supermarket concept proves a tough sell

It is unclear if higher customer numbers have been sustained, and Seven & I has no plans right now to open more such outlets.
Tokio Marine Holdings and other large non-life insurers are facing pressure to sell cross-held shares to improve their governance.
BUSINESS / Companies
Feb 17, 2025

Japan insurers sell $11 billion cross-held shares ahead of plans

The insurers are facing pressure to improve their governance after regulators fined them for coordinating adjustments in insurance fees in advance for companies.
Bain Capital is believed to have offered more than ¥700 billion for the corporate value of York Holdings, which owns supermarket chain Ito-Yokado and other units.
BUSINESS / Companies
Feb 24, 2025

Bain seen as preferred bidder for Seven & I supermarket business

Seven & I is expected to enter into final negotiations with Bain Capital on the investment ratio and other matters, sources said.
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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