Latest news with #Seven&iHoldings
Globe and Mail
27-05-2025
- Business
- Globe and Mail
Stephen Hayes Dacus becomes first foreign CEO of 7-Eleven in Japan
TOKYO (AP) — 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.
The Independent
27-05-2025
- Business
- The Independent
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. ___
Business Times
26-05-2025
- Business
- Business Times
Buyout on Hold: Seven & i investors eye execution before backing deal or strategy
[TOKYO] The annual meeting of Seven & i Holdings shareholders is likely to be a low-key event, despite the drama surrounding a company facing a takeover proposal by Alimentation Couche-Tard, the operator of Circle K stores. Investors appear to be willing to see what happens with the radical overhaul that the Japanese retailer has pledged to counter Couche-Tard's 7.4 trillion yen (S$67 billion) approach. That effort is being led by Stephen Dacus, Seven & i's newly appointed chief executive officer who will preside over Tuesday's (May 27) meeting for the first time. While Seven & i has been slow to engage with its Canadian suitor, the operator of 7-Eleven stores has recently signed a non-disclosure agreement (NDA) to share financial data with Couche-Tard. It's also agreed to explore a sale of 2,000 overlapping North American convenience stores – a pre-requisite to resolve any antitrust concerns. These steps appear to have been enough to put shareholders into wait-and-see mode. Alain Bouchard, Couche-Tard's chairman, has said he could propose a higher price for Seven & i once he has a chance to take a closer look at the Japanese company's financial information. Meanwhile, Seven & i is seeking to bolster its valuation through a series of strategic moves, including selling off underperforming retail assets, listing its US operations, buying back shares and appointing new leadership. 'The real significance lies in execution of these measures, whether these steps translate into sustained financial performance and a stock re-rating,' said Bloomberg Intelligence analyst Lea El-Hage. Shareholders are waiting for 'tangible execution', she added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up That appears to be the approach taken by Artisan Partners, which last year urged Seven & i to negotiate a deal with Couche-Tard for a takeover price that maximises shareholder value. While Seven & i's shares have bounced back from lows after the restructuring measures were announced, its market value remains at 5.66 trillion yen, roughly 23 per cent below the price the Couche-Tard is willing to pay. The NDA between the companies includes a standstill provision, which are usually designed to prevent a potential buyer from making a hostile bid. In the meantime, it will probably take months for Couche-Tard to fully evaluate Seven & i's financials and for the company to show whether its restructuring efforts are gaining any traction. Any future decisions by Seven & i will also be shaped by a board that will bring in five new directors. They are: Shigeki Kimura, Seven & i executive vice-president Takashi Sawada, former CEO of Familymart Masaki Akita, chairman of Matsuya Tatsuya Terazawa, former Ministry of Economy, Trade and Industry director general Christine Edman, former Hennes & Mauritz Japan president For now, stakeholder advisory firm Institutional Shareholder Services has endorsed the board candidates, who are likely to be passed at Tuesday's meeting. 'Shareholders are not as disappointed as they were,' said Lorraine Tan, an analyst at Morningstar Asia. 'Criticisms have been partly appeased.' BLOOMBERG
CNA
20-05-2025
- Business
- CNA
Seven & i Holdings plans to sell partial stake in Seven Bank to Itochu, Nikkei says
TOKYO : Seven & i Holdings plans to sell a partial stake in Seven Bank to trading house Itochu, with an announcement expected as early as May 30, the Nikkei business reported on Tuesday.
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
