Japan Inc.
09/02/2005 @ 6:00 am
Seven-Eleven Japan is going to buy 7-11 in the United States. From AP:
Seven-Eleven Japan said Thursday that it will launch a $1.2 billion cash tender offer for the 27.3% stake it doesn’t already own in its U.S. affiliate 7-Eleven, in a move that would take the world’s largest convenience store chain private.
Seven-Eleven Japan — Japan’s largest convenience store operator with more than 10,000 locations — is 51% owned by Japanese retailer and Denny’s franchisee Ito-Yokado.
The company, which already holds 72.7% of U.S. 7-Eleven, has offered $32.50 a share in cash for the remaining shares.
The 7-Eleven chain is popular in the Kansai area.
In Osaka, near the aquarium (I think Osakako eki) there is (or was as of a year ago) a Lawson on each corner for four blocks. Then, if you walk one block west, there is a 7-11 on each corner for 4 blocks.
September 2nd, 2005 at 6:37 amIt’s really weird, convience-store heaven!~
Oh, like here?:
http://www.sunfield.ne.jp/~mike/essays/conbini.htm
I’m all for the Japanese taking over 7-11, as long as the use that “Sebbun erebbun, ikibu-un” jingle and start selling bento boxes. 8^)
September 2nd, 2005 at 6:53 am7-Eleven is popular throughout Japan
September 2nd, 2005 at 9:22 am7-11 is giving Lawson’s stiff competition in Sapporo as well, plus making good inroads in Tohoku, judging from my recent travels. And I just saw on TV that it is merging with Ito Yokado, whose total sales are such a small fraction of 7-11’s that the new corporate logo is about 90% 7-11’s. I think the new name is to be something like Seven & i Holdings.
September 2nd, 2005 at 9:23 amGood to know. Well, 7-Eleven hasn’t expanded to the Hokuriku region (Fukui, Ishikawa, Toyama) where lived; Family Mart and Lawson are busy duking it out.
September 2nd, 2005 at 9:32 amI’m putting together a post entitled “The Parking Lots of Ashikaga” about the retail transition in this old–really old–town. Having a strip mall within walking distance (but across the river from the old town) has been a big boon for us as we get my wife set up to live here a year. (I can only join her for half the year.) I’ve noticed even on the side streets of the oldest parts of town, the ubiquity of the ‘P ari’, ‘chuushajou’, and such signage. It’s at least as ubiquitous as the ‘part-time help wanted’ and ’seeking tenants’ signs.
September 2nd, 2005 at 12:24 pm