News

Seven & i Holdings Co., the parent company of convenience store chain Seven-Eleven Japan Co., is facing an uncertain future after its attempt at a management buyout failed. The company's predicament has drawn the attention of influential business leaders, including Masahiro Okafuji, chairman and CEO of trading house Itochu Corp.

Opposition lawmakers are intensifying pressure on Japan's ruling Liberal Democratic Party (LDP) to disclose information about unreported political funds within party factions. Former Education Minister Hakubun Shimomura and other former executives of the LDP's Abe faction are under scrutiny after revelations of resumed shady fund exchanges.

The ruling coalition and opposition Nippon Ishin (Japan Innovation Party) have agreed on education and social welfare policies, including free senior high school education and lower social insurance premiums, paving the way for the passage of the fiscal 2025 budget. This agreement is crucial as the ruling coalition lacks a majority in the Lower House and requires support from opposition parties to pass legislation.

U.S. investor Artisan Partners has openly disagreed with Seven & i Holdings' CEO succession decision, calling for the company to reconsider a significant takeover proposal. This opposition arises after Seven & i appointed Stephen Dacus as the new CEO and declined Couche-Tard's $47 billion purchase offer.

Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store chain, has announced a change of CEO and plans to restructure its business in the face of a $47 billion foreign takeover bid. Stephen Dacus, lead outside director, will succeed Ryuichi Isaka as chief executive on May 27, marking the first time a foreign executive will be in charge of Seven & i.