Seven & i may establish holding company for non-core assets, says Yomiuri
· CNA · JoinTOKYO :Seven & i Holdings is exploring establishing an intermediate holding company for its supermarket, restaurant arms and non-core assets to attract external investment and focus on its convenience store operations, the Yomiuri newspaper reported on Thursday.
The retail giant's reform plans will be announced alongside its second quarter earnings later on Thursday, the Yomiuri said.
The company would hold non-core assets like its superstores business, general goods store Loft, baby goods store Akachan Honpo and the operating company of Denny's restaurants in Japan, the Yomiuri said.
The aim is to bring in external capital before a potential initial public offering, the Yomiuri said, citing multiple people with knowledge of the matter.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app