Latest news with #AlimentationCouche-Tard
Asahi Shimbun
27-05-2025
- Business
- Asahi Shimbun
Stephen Hayes Dacus becomes first foreign CEO of 7-Eleven in Japan
Stephen Hayes Dacus was approved Tuesday to be the new chief executive of the operator of 7-Eleven, the first foreigner to lead the Japanese convenience store chain. The American with a Japanese mother was appointed earlier this year to be chief executive of Seven & i Holdings Co., which operates the stores, known as 'konbini' in Japan. An acquisition proposal by Alimentation Couche-Tard of Canada, which the company has so far rejected, was not up for vote at the shareholders' meeting. The companies are discussing the proposal and Seven & i is conducting an internal study. Dacus has promised further growth for the business, which has been widening its overseas appeal. The 7-Eleven chain is the biggest convenience store chain in the U.S. But some analysts say there are challenges in the Japanese market, where the population is rapidly aging and competition is fierce among konbini brands. Fluent in Japanese and English, Dacus previously worked at Walmart, Japanese clothing chain Uniqlo and other retailers. Shareholders appeared to have high hopes for his leadership and the rest of the new team that also won their approval. It remains unclear whether the company is going to go it alone or decide to collaborate with Couche-Tard. The 7-Eleven stores in Japan sell everything from ice cream to batteries to health needs and hot meals. Some stores allow customers to pay utility bills or use the copier machine. They also work with local governments to help out during disasters, providing water, relief supplies, toilet facilities and emergency information.
27-05-2025
- Business
Stephen Hayes Dacus becomes first foreign CEO of 7-Eleven in Japan
TOKYO -- Stephen Hayes Dacus was approved Tuesday to be the new chief executive of the operator of 7-Eleven, the first foreigner to lead the Japanese convenience store chain. The American with a Japanese mother was appointed earlier this year to be chief executive of Seven & i Holdings Co., which operates the stores, known as 'konbini' in Japan. An acquisition proposal by Alimentation Couche-Tard of Canada, which the company has so far rejected, was not up for vote at the shareholders' meeting. The companies are discussing the proposal and Seven & i is conducting an internal study. Dacus has promised further growth for the business, which has been widening its overseas appeal. The 7-Eleven chain is the biggest convenience store chain in the U.S. But some analysts say there are challenges in the Japanese market, where the population is rapidly aging and competition is fierce among konbini brands. Fluent in Japanese and English, Dacus previously worked at Walmart, Japanese clothing chain Uniqlo and other retailers. Shareholders appeared to have high hopes for his leadership and the rest of the new team that also won their approval. It remains unclear whether the company is going to go it alone or decide to collaborate with Couche-Tard. The 7-Eleven stores in Japan sell everything from ice cream to batteries to health needs and hot meals. Some stores allow customers to pay utility bills or use the copier machine. They also work with local governments to help out during disasters, providing water, relief supplies, toilet facilities and emergency information.
Nikkei Asia
27-05-2025
- Business
- Nikkei Asia
7-Eleven owner manages to secure shareholder backing amid takeover offer
TOKYO -- The Japanese owner of the 7-Eleven convenience store chain managed to secure shareholder backing for its reshuffled management on Tuesday, as the company tries to fend off a takeover bid from Canadian rival Alimentation Couche-Tard. At an annual general meeting, all proposals submitted by Seven & i were approved, including the appointment of the new management team led by Stephen Hayes Dacus. The new president will now face the challenging task of steering the company toward maximizing shareholder value as demanded by the shareholders.
Japan Forward
14-05-2025
- Business
- Japan Forward
Survey: 70% of Japanese Companies Expect Rise in Inbound M&A
このページを 日本語 で読む Between mid-March and mid-April, The Sankei Shimbun surveyed 107 major Japanese companies regarding their stance on mergers and acquisitions. Nearly 70% of respondents said they expect M&A activity by foreign firms targeting Japanese companies to increase. This is roughly 10 percentage points higher than in the previous survey conducted in late 2024. However, only 3.7% of companies said they had introduced measures to guard against unsolicited takeovers, highlighting how little progress has been made on the defensive front. The risks associated with inbound M&A resurfaced in 2024 when Seven & i Holdings received a buyout proposal from Canada's Alimentation Couche-Tard. The incident underscored growing concerns that no Japanese company is immune, with one megabank executive remarking, "Every company is now effectively for sale." Reflecting that sentiment, not a single firm in the survey said it expects inbound M&A activity to decline. However, when asked about their stance on takeover defenses, 34.6% of companies said they had yet to make any decisions. Only around 13% said they had either implemented or were considering such measures. The rapid shift in conditions favoring inbound acquisitions — driven by a weak yen and labor shortages — appears to have left many firms struggling to keep pace. Meanwhile, 54.2% of firms said they are taking measures to address pressure from activist investors. These investors, who target Japanese companies perceived as prioritizing revenue over efficiency, are drawing a strong response. One company in the transport and logistics sector noted, "We manage our business with a focus on capital costs and share price." Efforts to improve corporate value are being backed by both the Japanese government and the Tokyo Stock Exchange. Alongside these initiatives, momentum is expected to build around establishing more concrete and strategic takeover defenses. Surveyed companies included Ajinomoto, Bridgestone, Canon, Fujitsu, Japan Airlines, KDDI, Kirin Holdings, Mitsubishi Corporation, Mitsubishi Electric, Mitsubishi Motors, Mitsui & Co. Nintendo, NTT, Panasonic Holdings, Rakuten Group, Seven & i Holdings, Shiseido, SoftBank Group, Sumitomo Corporation, and Nissan Motor. Author: Kazuya Nemoto, The Sankei Shimbun このページを 日本語 で読む
Nikkei Asia
14-05-2025
- Business
- Nikkei Asia
Man behind the 7-Eleven takeover battle: Alain Bouchard
TOKYO -- Nine months after Alimentation Couche-Tard approached Seven & i, the drawn-out talks and the 7-Eleven owner's apparent resistance raise questions over how long the Canadian suitor will persist with its $47 billion bid. Crucial to any decision is Alain Bouchard, co-founder, executive chairman and significant shareholder of the Canadian convenience store operator. In his mid-70s, he is still closely involved in the running of the company after handing over the reins to the CEO in 2014.
