Seven & i shareholders approve first foreign president
Shareholders of Japanese retail giant Seven & i Holdings have approved the appointment of Stephen Dacus as its new president. He becomes the first foreigner to lead the company.
The operator of the 7-Eleven convenience store chain held a shareholders' meeting in Tokyo on Tuesday.
Seven proposals put forward by the board were approved. They include the appointment as chairman of Ito Junro, a member of the group's founding family.
One shareholder asked how the firm will deal with a buyout proposal from Alimentation Couche-Tard. Seven & i is seeking to fend off the takeover bid from the Canadian company, which runs convenience-stores in North America.
Seven & i has said it plans to sell off non-core businesses and focus on convenience stores to improve corporate value on its own.
One shareholder from Saitama said after the meeting "I think the company needs to work hard under the new president to survive intensifying competition."
Another participant from Chiba said " We were informed about what is going on with Alimentation Couche-Tard, so shareholders are getting a clearer picture."
Dacus is a former CEO of Japanese supermarket chain, Seiyu. He has pledged to expand the 7-Eleven network outside Japan to boost profits.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NHK
an hour ago
- NHK
Retired Japan, US officers join simulation in Taiwan on possible attack by China
Former Japanese Self-Defense Forces and US military officers have taken part in a simulation to respond to possible attack by China on Taiwan. Private-sector groups in Taiwan organized the event in Taipei on Tuesday and Wednesday. It was attended by former officers from Taiwan and 17 retired officers from Japan and the US. They included retired General Iwasaki Shigeru, former chief of staff of the SDF Joint Staff, and retired Admiral Michael Mullen, former chairman of the US Joint Chiefs of Staff. The simulation -- assuming that China were to launch an armed attack on Taiwan in 2030 -- was held behind closed doors. The participants discussed possible moves by China and responses by Taiwan, the US and Japan. At a news conference on Wednesday they said it is important to boost Taiwan's defense capabilities, including employing "asymmetric" defense using cheap, mobile weapons. They also recommended strengthening deterrence against China through cooperation among countries in the Indo-Pacific region. Takei Tomohisa, a senior fellow at the Sasakawa Peace Foundation and a retired admiral in the Maritime Self-Defense Force, said the most important thing for Japan to do is improve its defense capabilities and deterrent power while maintaining lines of communication with Taiwan.
Nikkei Asia
2 hours ago
- Nikkei Asia
Analysis: Xi Jinping's generals face a treacherous political battlefield
Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize. It is now indisputable that Gen. He Weidong has been purged, three months after he disappeared from public view, sparking a torrent of speculation within and outside China.
Japan Times
8 hours ago
- Japan Times
Eased language requirement proposed for non-Japanese bus and taxi drivers
The government, at an expert panel meeting on Wednesday, proposed easing the Japanese language proficiency requirement for non-Japanese drivers working in the country, aiming to address the serious labor shortages in the bus and taxi industry. The panel met at the Justice Ministry to discuss the country's foreign worker programs. Japan accepts foreign bus and taxi drivers under the Type 1 category of its residency status system for foreign nationals with certain skill levels. With Type 1 status, they are allowed to work in Japan for up to five years. Bus and taxi drivers are required to have higher Japanese language proficiency than in other occupations, as they need to offer customer services and handle emergency situations. The government decided to ease the language requirement for bus and taxi drivers after the number of successful applicants for a Type 1 residency evaluation test for those jobs stood at zero as of the end of April this year. Currently, foreign nationals wanting to work as bus or taxi drivers in Japan are required to have the N3 level of the Japanese Language Proficiency Test, which shows an ability to understand daily conversations to some extent and is the third highest of the five-level system. The government is looking at lowering the requirement by one notch to the N4 level. Drivers with the N4 Japanese language level will be required to be accompanied by a Japanese-language helper when on duty and will be encouraged to reach the N3 proficiency level as soon as possible. At the meeting, the government also proposed adding the field of logistics warehouses, the sector providing bed sheets and other items to hotels and hospitals, and the industry related to waste disposals to the list of industries eligible for the Type 1 program and a new skill development program for foreign workers. The new program will be introduced in April 2027, replacing the country's technical intern program. It aims to train foreign nationals to be eligible for Type 1 status in three years.
