TOKYO -- When Ryuichi Isaka took over the reins of 7-Eleven’s Tokyo-based parent company last spring, he promised to lay out within 100 days a comprehensive global strategy to reverse the company’s faltering performance and return to growth.
U.S. expansion was expected to be a centerpiece of that strategy.
As Bloomberg reports, those 100 days have come and gone, and Isaka still has not made his strategy known. The company now says Isaka will lay out his strategy Oct. 6 when Seven & i Holdings Co. releases its second-quarter earnings.
In addition to expansion, launching new fresh foods like burritos and pastas could also be a part of the company’s overall U.S. growth strategy.
The development comes as other major brands in Japan struggle to find a path forward amid heavy competition and a shrinking, aging population.
- Retailer FamilyMart Co. agreed to acquire Uny Group Holdings Co. earlier this month in a deal that would combine the FamilyMart c-store chain with Uny Group’s Circle K and Sunkus chains to form the second-biggest c-store company in Japan, reported The Japan Times.
- Mitsubishi Corp. seeks to majority ownership of Japanese convenience-store chain Lawson Inc. in an offer valued at $1.4 billion. The investment would increase Mitsubishi's stake in Lawson from 33.4% to 50.1%, according to a Wall Street Journal report.
- Meanwhile, McDonald’s Japan found some recent success following several quarters of sluggish sales by leveraging a timely and exclusive Pokémon Go promotion, reported Nikkei Asian Review.
- And KFC’s Japan unit announced Sept. 15 a new venture to grow the brand in Singapore and Thailand as it looks to diversify its business beyond its home market.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.