Native name 株式会社セブン&アイ・ホールディングス Industry Retailing | Type Public (K.K.) Revenue 4.786 trillion JPY (2012) | |
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Romanized name Kabushiki-gaisha Sebun ando Ai Hōrudingusu Traded as TYO: 3382
TOPIX Core 30 Component Founded September 1, 2005 (2005-09-01) (from merger) Stock price 3382 (TYO) JP¥ 4,362 -74.00 (-1.67%)30 Mar, 3:00 PM GMT+9 - Disclaimer CEO Toshifumi Suzuki (Sep 2005–) Headquarters Chiyoda, Tokyo, Tokyo, Japan Subsidiaries 7-Eleven, Seven Bank, Sogo & Seibu, Ito-Yokado Profiles | ||
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. Seven & I was founded in 1920 as Ito-Yokado, and is now the fifth largest retailer in the world, with 54,000 stores in approximately 100 countries.
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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.
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.
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.
On December 4, 2013, Seven & I purchased 44.99% ownership of Barneys Japan Co., Ltd. from "a fund operated by Tokio Marine Capital". 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." After this transaction, Sumitomo Corporation will continue to retain a majority stake of 50.01% in Barneys Japan Co., Ltd.
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.
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, 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.