Seven & i Categorized in Core Business Sector in Japan
Tokyo, Sept. 13 (Jiji Press)--Japan's Finance Ministry recategorized retail giant Seven & i Holdings Co. into a core business sector in the country, which requires stricter conditions for foreign investment, a revised list released by the ministry showed Friday.
The ministry revised the list of companies conducting businesses of high national security significance in line with relevant changes to the foreign exchange and foreign trade law last month, when Seven & i disclosed a buyout proposal from Canadian convenience store titan Alimentation Couche-Tard Inc.
A foreign acquisition of 10 pct or more of one of the listed core-sector companies needs to be notified to Japanese authorities in advance.
Meanwhile, Alimentation Couche-Tard's planned full Seven & i purchase has been subject to prior-notification since the beginning, regardless of the recategorization.
(2024/09/13-22:10)
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