Seven & I Holdings Co.

Seven & I Holdings Co., Ltd.
Native name
 株式会社セブン&アイ・ホールディングス
Kabushiki-gaisha Sebun ando Ai Hōrudingusu
Public (K.K.)
Traded as TYO: 3382
TOPIX Core 30 Component
Industry Retailing
Founded September 1, 2005 (2005-09-01) (from merger)
Headquarters 8-8, Nibancho, Chiyoda, Tokyo, Japan
Key people
 Ryuichi Isaka, President
Services Department stores, Superstores, Supermarkets, Convenience stores, Restaurants, Financial services
Revenue Decrease ¥4.786 trillion (2012)
Increase ¥292.06 billion (2012)
Increase ¥129.83 billion (2012)
Total assets Increase ¥3.889 trillion (2012)
Total equity Increase ¥1.860 trillion (2012)
Number of employees
 55,011 (2013)
Subsidiaries Seven-Eleven Japan
7-Eleven
Seven-Eleven Hawaii
Seven-Eleven Beijing
Ito-Yokado
Sogo & Seibu
Seven Bank
Website www.7andi.com
Headquarters

Seven & I Holdings Co., Ltd. (株式会社セブン&アイ・ホールディングス, Kabushiki-gaisha Sebun ando Ai Hōrudingusu, Seven-i (セブンアイ)) is a Japanese diversified retail group headquartered in Nibancho, Chiyoda, Tokyo, Japan.[1] Seven & I was founded in 1920 as Ito-Yokado, and is now the fifth largest retailer in the world,[2] with 54,000 stores in approximately 100 countries.

History

Seven & I Holdings was established on September 1, 2005 as the parent company of the 7-Eleven Japan chain of convenience stores, the Ito-Yokado grocery and clothing stores, and the Denny's Japan family restaurants. In November 2005, it completed the purchase of US-based 7-Eleven Inc.[3]

On December 26, 2005, the company announced its acquisition of Millennium Retailing holding company, parent of the Sogo and Seibu Department Stores chains. The acquisition makes Seven & I Holdings the largest distribution and retailing business in Japan.

On August 11, 2006, Seven & I purchased Lombard, Illinois-based White Hen.[4]

In July 2007, the group announced the enlargement of their American chain 7-Eleven. They proposed an additional 1000 stores in a $2.4 billion plan that would see their US operation grow to over 7,000 stores. The target was set to achieve $10 billion in sales in the US by 2010.

On June 11, 2012, Seven & I, through its 7-Eleven, Inc. subsidiary, acquired 23 convenience stores in the US from Strasburger Enterprises, Inc.[5]

On December 4, 2013, Seven & I purchased 44.99% ownership of Barneys Japan Co., Ltd. from "a fund operated by Tokio Marine Capital".[6] Barneys Japan "has a network of 10 stores in Japan, including five outlet stores" and, "for the year ending February 2013, Barneys Japan posted sales of ¥19.52 billion."[6] After this transaction, Sumitomo Corporation will continue to retain a majority stake of 50.01% in Barneys Japan Co., Ltd.[6]

On January 29, 2014, Seven & I, through its subsidiary Seven & i Net Media, acquired 50.71% of Nissen Holdings, which is engaged in the mail order sale of clothing and daily necessities, the retail and wholesale of gift products through stores, catalogs, Internet and mobiles. Also, Nissen is involved in the life insurance, casualty insurance agency, credit card and money lending business.[7][8]

On April 6, 2017 Seven & I announced they would be acquiring 1110 convenience stores from American gas company Sunoco for $3.3 billion, as well as that they would be supplied 2.2 billion gallons of fuel annually from Sunoco for 15 years.[9] Sunoco said they would be selling 200 more stores to Seven & I in Q4, 2017.[10]

The current President of Seven & I Holdings, Ryuichi Isaka, was appointed to that position on May 26, 2016, replacing Noritoshi Murata, who resigned his position along with Chief Executive and Chairman Toshifumi Suzuki in April 2016,[11] after activist investor Daniel Loeb, who owns an undisclosed stake in Seven & I through his investment company Third Point, raised concerns about rumours that Suzuki was grooming his son, Yasuhiro Suzuki, as his successor.[12]

Subsidiaries

References

  1. ↑ "Office Map." Seven & i Holdings. Retrieved on January 13, 2009.
  2. ↑ “Planet Retail reveals latest retailer rankings”, Planet Retail, July 28, 2008. Archived October 5, 2008, at the Wayback Machine.
  3. ↑ "2005 - Company - Seven & i Holdings Co". 7andi.com. Retrieved 19 May 2015.
  4. ↑ "7-Eleven Parent Company Buys White Hen Pantry". The New York Times Company. August 11, 2006. Retrieved August 11, 2012. Archived August 11, 2012, at WebCite
  5. ↑ "Seven & I Holdings : Notice Regarding the Acquisition of Stores from Strasburger Enterprises, Inc.". 4-Traders. 2012-06-15. Retrieved August 29, 2012. Archived August 29, 2012, at WebCite
  6. 1 2 3 Kaiser, Amanda (December 4, 2013). "Seven & i Buys Stake in Barneys Japan". WWD. Retrieved December 4, 2013.
  7. ↑ "Nissen Holdings Co. Ltd. announces results of takeover bid launched by subsidiary of Seven & I Holdings Co. Ltd.". Reuters. Retrieved March 6, 2014.
  8. ↑ "Nissen Holdings company profile". Reuters. Retrieved March 6, 2014.
  9. ↑ "Sunoco to sell 1,110 U.S. stores to 7-Eleven operator for $3.3 billion". Reuters. 2017-04-06. Retrieved 2017-04-06.
  10. ↑ Soble, Jonathan (2017-04-06). "7-Eleven’s Parent Will Buy Sunoco’s Convenience Stores". The New York Times. ISSN 0362-4331. Retrieved 2017-04-06.
  11. ↑ "Seven & i set to appoint Isaka next president as management shakeup continues". The Mainichi. Retrieved December 25, 2016.
  12. ↑ "Seven & i's 83-year-old CEO quits after board rejects his proposal". Reuters. Retrieved December 25, 2016.
  13. ↑ "Seven & i Net Media company profile". Businessweek. Retrieved March 6, 2014.
  14. ↑ "Seven & I to buy Net retailer Nissen". The Japan Times. Retrieved March 6, 2014.
  15. ↑ "Nissen Holdings company profile". Nissen Holdings. Retrieved March 6, 2014.

Coordinates: 35°41′8.82″N 139°44′2.35″E / 35.6857833°N 139.7339861°E / 35.6857833; 139.7339861

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