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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Seven & i Holdings Co., Ltd.    3382   JP3422950000

SEVEN & I HOLDINGS CO., LTD.

(3382)
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Seven & i : Japan's Seven & i sees signs of recovery from pandemic

10/08/2020 | 05:38am EST
Seven & i Holdings Co's logo is pictured in Tokyo

TOKYO (Reuters) - Japan's Seven & i Holdings lifted its outlook for the year amid signs of a recovery from the coronavirus pandemic, even as its 7-Eleven stores grapple with weak spending, high labour costs and pressure to ease their 24-hour opening policy.

The company, which in August announced a $21 billion acquisition of U.S. petrol station chain Speedway, said it expected operating profit of 340 billion yen ($3.21 billion) for the year through next February, up from a forecast of 322 billion.

The figure would still be down 20% from a year earlier, however, marking the end of a decade-long growth streak. For its fiscal first-half, operating profit fell 12% from a year earlier to 180 billion yen.

Its president, Ryuichi Isaka, emphasised that the unpredictable course of the novel coronavirus outbreak meant its forecast could change again.

"It is possible that there could be an upward revision, or a downward revision," he said on a conference call with analysts and media.

In addition to the pandemic's hit to consumption, the company faces long-term problems in its home market, including a shrinking work force and concern about market saturation.

A labour shortage has prompted franchise owners of its 7-Eleven convenience stores to urge a change in the policy of 24-hour opening, an adjustment backed by the government and a public increasingly sensitive to issues of overwork.

The company has pledged more support for franchise owners, which analysts say could weigh on the chain's high margins, for years the envy of Japanese retailers struggling with deflation.

In the face of such domestic woes, 7-Eleven has sought growth overseas, and announced in August that it was buying Speedway petrol stations from Marathon Petroleum Corp.

The deal boosts 7-Eleven's store count in the United States, where the brand originated.

The Japanese affiliate became far more successful than the U.S. business as its 24-hour opening policy and franchise system proved a perfect match with a dense population and late-night work culture.

"Overseas convenience stores are becoming an increasingly crucial segment," he said.

Isaka said he still expected the deal to close in the first quarter of 2021, although the date may change depending on the timing of regulatory approval.

($1=106.0000 yen)

(Reporting by Ritsuko Ando; Editing by Clarence Fernandez, Robert Birsel)


© Reuters 2020
Stocks mentioned in the article
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MARATHON PETROLEUM CORPORATION 4.68% 42.91 Delayed Quote.-28.78%
SEVEN & I HOLDINGS CO., LTD. 2.90% 3516 End-of-day quote.-12.17%
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Financials
Sales 2021 5 843 B 56 078 M 56 078 M
Net income 2021 155 B 1 490 M 1 490 M
Net cash 2021 459 B 4 408 M 4 408 M
P/E ratio 2021 20,2x
Yield 2021 2,81%
Capitalization 3 104 B 29 795 M 29 794 M
EV / Sales 2021 0,45x
EV / Sales 2022 0,40x
Nbr of Employees 57 270
Free-Float 83,2%
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Technical analysis trends SEVEN & I HOLDINGS CO., LTD.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 4 415,38 JPY
Last Close Price 3 516,00 JPY
Spread / Highest target 70,6%
Spread / Average Target 25,6%
Spread / Lowest Target 5,23%
EPS Revisions
Managers
NameTitle
Ryuichi Isaka President & Representative Director
Yoshimichi Maruyama General Manager-Finance & Accounting
Katsuhiro Goto Representative Director & Executive Vice President
Junro Ito Director & Managing Executive Officer
Kimiyoshi Yamaguchi Director & General Manager-Corporate Communication
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