Seven & i’s supermarket unit to withdraw from some Japan areas
Seven & i Holdings Co. said Friday that its loss-making supermarket unit will withdraw from some areas in Japan as the retail giant has faced calls from shareholders to restructure its businesses.
The group will close or sell 17 Ito-Yokado stores in central and northeastern regions, including six in Hokkaido. It will instead focus on business in Tokyo and surrounding areas.
Seven & i plans to cut the number of Ito-Yokado stores to 93 in the country by the end of February 2026, compared with 182 a decade earlier.
In the face of increasing pressure from shareholders, Seven & i has been proceedin...