Seven & i Holdings Co., Ltd. (OTCPK:SVNDY) Q4 2024 Results Conference Call April 9, 2025 2:00 AM ET Company Participants Yoshimichi Maruyama - CFO and Managing Executive Officer Stephen Dacus - CEO Stanley Reynolds - President Fumihiko Nagamatsu - President of 7-Eleven International LLC Stephen Dacus I'm Steve Dacus.
Seven & i Holdings reported a rise in quarterly net profit as gains from asset sales helped offset weaker earnings from convenience-store operations at home and abroad.
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Japan risks reputational damage if it were to block a $47 billion foreign bid for retailer Seven & i Holdings on economic security grounds, the head of a government-backed fund said.
Japan's Seven & i, the parent company of the Japanese 7-Eleven convenience store chain, said Thursday it is selling its supermarket store assets to Bain Capital for about $5.4 billion.The company announced the deal a day after naming Stephen Dacus, its board chairman, to be its president and CEO.It also said it plans an initial public offering in the U.S. of 7-Eleven or SEI, its convenience store business in North America, by the end of 2026. Funds from the IPO and the sale to Bain will be returned to shareholders in the form of share buybacks worth 2 trillion yen ($5.4 billion).Seven & i's share price jumped 6.1% in Tokyo.The deal follows Seven & i's rejection of a takeover bid by Canada's Alimentation Couche-Tard.
HORSHAM TOWNSHIP, PA —They thwarted a burglary in the Talamore Development. It was the early morning hours of Dec. 3 when police officers responded to a report of a burglary in progress at a Talamore home. Officers converged on the home and discovered that it had been burglarized. Home security footage showed three suspects fleeing the residence. A K9 and drone were requested from neighboring departments to assist in tracking the suspects while Horsham officers set up a perimeter to contain the suspects, said Police Chief Scott Fida during the recent Horsham Township Council meeting in which the police officers were honored for their efforts. The commendations were for Corp. Kathleen Ryan and Police Officers Andrew D’Arcy, Anna Kumor, David Breznicky, and Joseph Kelley. Shortly after deploying the K9 and drone, the drone operator reported suspects fleeing from the pursuing K9. The drone observed two suspects getting into a car and fleeing onto Tennis Avenue. Police officers located the vehicle and effected a vehicle stop. Two suspects were taken into custody without incident. A short time later, the third suspect was located by officers at the 7-11 in Maple Glen and taken into custody as well. "Due to these officers’ quick response and teamwork, three burglars have been taken off the street," Fida said. The police chief added that the three suspects were also part of an organized ring responsible for multiple burglaries throughout Montgomery and Bucks counties.
Lead independent outside director Stephen Dacus will take charge from CEO Ryuichi Isaka on May 27. The company also announced a share buyback of 2 trillion yen ($13.2 billion) and plans to list its North American subsidiary, 7-Eleven Inc.
Bain Capital aims to list Seven & i Holdings' supermarket business in around three years after boosting synergies within the group, an executive of the U.S. private equity firm said on Thursday.
Seven & i Holdings , the Japanese operator of the global 7-Eleven convenience store chain, is expected to announce a leadership change on Thursday and plans to restructure its business as it faces a $47 billion foreign takeover bid.
Seven & i Holdings , the Japanese retail giant at the centre of a takeover battle, is finalising a plan for its president to step down and be replaced by the company's first foreign chief.
Japan's Seven & i Holdings is set to abandon a $58 billion management buyout led by the retailer's founding family after trading house Itochu withdrew from participating in the plan, the Yomiuri newspaper reported on Thursday.
Japan's Itochu has decided not to participate in a buyout for Seven & i Holdings put forward by the retailer's founding family, the Nikkei newspaper reported on Wednesday.