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7-Eleven deserves more than shareholder supremacy
The convenience store chain’s social value needs to be considered too.
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7-Eleven has become a vital local hub in Japanese communities, particularly in areas where independent stores can no longer afford to operate.
PHOTO: REUTERS
Gearoid Reidy
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Two weeks from the first report of Alimentation Couche-Tard Inc ’s bid to acquire Japan’s Seven & i Holdings,
Reports that the target is seeking Japanese government protection from the bid, under the auspices of the country’s Foreign Exchange and Foreign Trade Act, have had some asking if this is “Japan Inc” of yore. The talk already is that any rejection of the Canadian firm’s bid would be a return to the sakoku era of closed-borders opposition to foreign involvement – and, conversely, that acceptance of the takeover attempt would underline Japan’s recent transformation.
