TOKYO (Reuters) -Japan’s Seven & i is working on several initiatives that include potential M&A deals and partnerships aimed at leading to substantial growth, Chief Financial Officer Yoshimichi Maruyama said on Friday.
The Japanese retailer behind 7-Eleven convenience stores aims to demonstrate to investors its ability to grow after Canada’s Couche-Tard withdrew a $46 billion offer in July.
Seven & i has said it will pursue a listing of its North American convenience store subsidiary by the second half of 2026, and will buy back about 2 trillion yen ($13 billion) worth of shares through fiscal year 2030 .
“We are not planning a particularly large sale (of shares),” Maruyama said at a briefing for investors. The company will do the buyback even if the offering doesn’t take place, he said.
Seven & i’s shares are down by around a fifth for the year to date.
TARGETING EUROPEAN EXPANSION
The retailer also said it is looking to expand its business in Europe into a “fourth major pillar of growth”, in addition to Japan, North America and Asia-Pacific.
It currently has 365 stores in Scandinavia.
“Outside Scandinavia, Europe is a blank area for 7-Eleven,” said Ken Wakabayashi, CEO of 7-Eleven International.
The retailer is also looking at foraying into markets in the Middle East, Africa and Latin America with high growth potential.
($1 = 150.7800 yen)
(Reporting by Ritsuko Shimizu; Writing by Sam Nussey; Editing by Edwina Gibbs)
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