Meanwhile, at the urging of activist billionaire investor Dan Loeb, SEI will divest struggling department stores and set up a real-estate arm in Japan as it seeks to improve profit generated mostly by its domestic convenience stores, said a separate Bloomberg report.
Japan’s first 7-Eleven convenience store, operated by Seven-Eleven Japan Co. Ltd., opened in 1974. In 1991, the Japanese company then known as Ito-Yokado acquired The Southland Corp, Dallas, the U.S. operator of 7-Eleven stores. Today, the global 7-Eleven business is fully owned by Seven & i, with approximately 60,000 convenience stores in 17 countries.
Based in Irving, Texas, 7‑Eleven operates, franchises and licenses approximately 59,800 7‑Eleven c-stores in 17 countries.