7 Eleven Convenience Store Booms in Japan
Posted on 04/12/2023
Good news for 7 & i Holdings, parent company of 7 Eleven, business is booming in Japan. The store chain has topped 10 trillion yen in revenue, the first Japanese retailer ever to do so. Revenue actually reached 11.8 trillion yen, or US$ 89.6. 7 Eleven is also the top convenience store in the U.S., but the range of products and the types of products available at a Japanese 7 Eleven are unique. Foods are particularly noticeable, with a variety of rice balls, sandwiches, and even hot dogs in buns with ketchup already included for sale in a plastic wrap. In addition, there are the usual consumer goods available, such as hair and beauty products or soaps. One can also find a yen currency converter and an ATM, there is free WiFi, and it isn’t unusual to see more than one 7 Eleven within a five minute walk in Tokyo.
The largest shareholder of 7 & i is The Master Trust Bank of Japan. Shareholders of the Master Trust are Mitsubishi UFJ Trust and Banking Corporation at 46.5%, Nippon Life Insurance at 33.5%, Meiji Yasuda Life Insurance at10%, and Norinchukin Trust & Banking Company at 10%.