{"id":9661,"date":"2023-04-06T12:52:44","date_gmt":"2023-04-06T10:52:44","guid":{"rendered":"https:\/\/investmentbell.com\/?p=9661"},"modified":"2023-04-06T12:52:53","modified_gmt":"2023-04-06T10:52:53","slug":"japans-seven-i-review-to-continue-under-investor-pressure","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/ko\/news\/market-overview-news\/japans-seven-i-review-to-continue-under-investor-pressure\/","title":{"rendered":"Japan&#8217;s Seven &amp; i review to continue under investor pressure"},"content":{"rendered":"<p>TOKYO (Reuters) -Seven &amp; i&#8217;s independent directors said on Thursday the Japanese retail giant&#8217;s board would continue to review strategic alternatives as it faces pressure for broader reforms from some shareholders including activist ValueAct Capital.<\/p>\n\n\n\n<p>ValueAct, which owns a 4.4% stake in Seven &amp; i and has been pushing for change since 2020, is calling for a spin-off of its 7-Eleven convenience store chain and seeks to replace four of the 14 board members at an upcoming annual meeting.<\/p>\n\n\n\n<p>&#8220;The board will continue to review optimal group structure and strategic alternatives,&#8221; including a possible initial public offering or a spin-off, the eight directors said in a statement.<\/p>\n\n\n\n<p>A source has said Seven &amp; i president Ryuichi Isaka is one of the board members ValueAct wants to replace.<\/p>\n\n\n\n<p>&#8220;The board is currently discussing the shareholder proposals and new board composition, and we plan to announce our decisions in mid April,&#8221; Isaka told reporters and analysts on Thursday.<\/p>\n\n\n\n<p>Last month, Seven &amp; i announced the results of a strategic review and said it would close an additional 14 Ito-Yokado supermarket stores in Japan and fully exit its apparel business. Some investors, though, said the review did not go far enough.<\/p>\n\n\n\n<p>The company said on Thursday it would reshuffle its financial services.<\/p>\n\n\n\n<p>Seven &amp; i said in a separate statement that its operating profit rose 30.7% to a record 506.5 billion yen ($3.85 billion) in the financial year to end-February. For the financial year that began on March 1, it forecast a 1.3% profit increase.<\/p>\n\n\n\n<p>($1 = 131.4700 yen)<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost9661\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost9661').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) -Seven &amp; i&#8217;s independent directors said on Thursday the Japanese retail giant&#8217;s board would continue to review strategic alternatives as it faces pressure for broader reforms from some shareholders including activist ValueAct Capital. ValueAct, which owns a 4.4% stake in Seven &amp; i and has been pushing for change since 2020, is calling [&hellip;]<\/p>","protected":false},"author":13,"featured_media":9662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":{"0":"post-9661","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-overview-news"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/posts\/9661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/comments?post=9661"}],"version-history":[{"count":0,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/posts\/9661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/media\/9662"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/media?parent=9661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/categories?post=9661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/tags?post=9661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}