0001@Old Man Friends Club ★ Security Guard [lv.0] [Sprout].Oct. 12, 2024 (Sat) 15:44:17.24ID:rPbKFqgg9
On the 10th, Seven & i Holdings announced that it would separate its non-convenience store businesses, including its original supermarket chain Ito-Yokado, and change its company name to Seven-Eleven Corporation. This was because Seven & i was forced to accelerate its focus on the convenience store business following a takeover proposal from Canadian convenience store giant Couche-Tard. [Omitted] The “I” has disappeared from the company name The company name Seven & I is generally perceived as the “Seven” from Seven-Eleven and the “I” from Ito-Yokado. However, Seven & i’s website explains that it has seven business areas, as well as the “i” (eye for innovation) and the “i” (eye for love). In any case, once the company name is changed to Seven-Eleven Corporation, the “I” will disappear from the name. With pressure from vocal shareholders to increase the company’s value, and therefore its stock price, and even facing a takeover spree, the current management team may have had no choice but to proceed with separating the non-convenience store business. Still, it would be sad if one of Japan’s leading distribution groups were to stop talking about its “business DNA” rooted in its original business, or its big “dreams” as a consumer industry. Takuji Harima (Main Caster of bs-tbs “biz Square”) tbs Saturday, October 12, 2024, 14:00.
It’s the “i” in Ito Yokado. They talk about it as “love” and other bullshit, which is why they can’t run the company properly. This is the result of “people with high morals only” keeping only their friends and minions around them and running the company.
In the end, Seven-Eleven was just a company whose Chairman Suzuki was amazing. The rest was just a crappy company with a typical incompetent Lehman Brothers president who gathered his allies and rushed to maintain his power.
Seriously speaking, in a situation where the value of the yen was expected to fall rapidly, companies that did not reduce their takeover risk by buying back their own shares or going non-listing are incompetent. Lawson and FamilyMart chose to delist, so even if they couldn’t go non-listing, they could have bought back their own shares, which would have reduced the risk of a hostile takeover.
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