Japan: Seven & i Holdings Basic Agreement For Business Alliance

Japan: Seven & i Holdings Basic Agreement For Business Alliance

Seven & i Holdings Co., Ltd. has concluded a basic agreement with Odakyu Electric Railway Co., Ltd. and its subsidiary Odakyu Shoji Co., Ltd. regarding a business alliance in the rail train station store network operated by Odakyu Shoji

The Seven & i Group operates more than 60,000 stores in and outside Japan and encompasses an assortment of businesses to respond to the needs of a wide range of customers, in the field of convenience stores, superstores, department stores, financial services and specialty stores, and is actively engaged in enhancing customer service, expanding store networks, and strengthening product development capabilities, procuring power and brand power on a daily basis.

Odakyu Electric Railway has positioned the planned completion of multiple double tracks in March 2018 as a major opportunity. The group is taking steps to increase the appeal of areas along railway lines, such as redeveloping areas near terminals and strengthening its existing businesses, aiming to create the most convenient living areas along railway lines in Japan. To enhance the appeal of these areas, it is essential to respond to increasingly diverse customer needs. In particular, the group recognizes that strengthening its retail business is an important strategy.

The Seven & i Group aims to establish a dominant market presence by expanding openings of 7-Eleven stores along the Odakyu Line and through concentrated business development. The Group also means to further develop its business through mutual sharing of business expertise aimed at strengthening the supermarket business.

For, the Odakyu Group, in the supermarket business (Odakyu OX) operated by Odakyu Shoji, the group aims to acquire the Seven & i Group’s operating expertise and establish a dominant position in the market by strengthening its business foundation and expanding its store network. At the same time, in the train station store and convenience store business the group will strengthen its retail business by converting its stores to 7-Eleven franchised stores. The two groups judged that mutual cooperation to achieve these goals would contribute to raising corporate value for both of them, resulting in today’s conclusion of the basic agreement regarding the Business Alliance between the Company, Odakyu Electric Railway, and Odakyu Shoji. PWKD12032018

Last modified onSunday, 11 March 2018 19:03
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