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    3382   JP3422950000

SEVEN & I HOLDINGS CO LTD

(3382)
  Report
Delayed Japan Exchange  -  02:00 2022-09-26 am EDT
5855.00 JPY   -1.00%
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Softbank's Fortress offers to buy Japan's Sogo & Seibu - Nikkei

07/02/2022 | 10:35pm EDT

(Reuters) - Softbank-owned Fortress Investment Group has offered around 200 billion yen ($1.48 billion) to buy Japanese department store unit Sogo & Seibu from parent Seven & i Holdings, Nikkei reported on Sunday, citing sources.

Fortress has obtained the first refusal right in the acquisition of Sogo & Seibu, amid investor pressure at Seven & i to focus on its core convenience store business, Nikkei said.

Fortress Investment did not respond to a Reuters request for comment outside U.S. business hours. Seven & i could not be immediately reached.

U.S.-based investment firm ValueAct, which holds a 4.4% stake in Seven & i, had urged the Japanese retailer to sell off Sogo & Seibu, saying in February the company could more than double its share price by focusing on its convenience stores.

In April, Seven & i said it would continue reforms of its business portfolio and had hired a financial adviser to conduct a strategic review of Sogo & Seibu.

Seven & i, the parent of 7-Eleven convenience stores, is expected to hold more detailed talks with Fortress, including on employment and whether to shut some stores, according to the Nikkei report.

($1 = 135.1900 yen)

(Reporting by Ann Maria Shibu in Bengaluru; Editing by Lincoln Feast.)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NIKKEI 225 -2.66% 26431.55 Real-time Quote.-5.69%
SEIBU HOLDINGS INC. -2.07% 1512 Delayed Quote.43.49%
SEVEN & I HOLDINGS CO LTD -1.00% 5855 Delayed Quote.16.97%
SOFTBANK GROUP CORP. -5.18% 5066 Delayed Quote.-1.67%
All news about SEVEN & I HOLDINGS CO LTD
08/30SEVEN & I HOLDINGS CO LTD : Ex-dividend day for interim dividend
FA
08/11Antitrust rules, Petro-Canada profits may hinder Suncor from selling unit
RE
08/08ValueAct builds 8.7% stake in software provider Trend Micro, shares surge
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08/027-Eleven reduces corporate head count
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07/21Convenience store chain 7-Eleven lays off about 880 U.S. employees
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07/19Japan's Nikkei extends gains to fifth day, tech leads way
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07/18Canada's Suncor open to sale of gas stations after deal with activist investor
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07/13Uniqlo owner's Q3 results to offer clues on China recovery, Japan inflation
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07/13Uniqlo owner's Q3 results to offer clues on China recovery, Japan inflation
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07/08Seven & i Ups Annual Dividend as Fiscal Q1 Net Income, Revenue Soars
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Analyst Recommendations on SEVEN & I HOLDINGS CO LTD
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Financials
Sales 2023 11 519 B 80 433 M 80 433 M
Net income 2023 264 B 1 843 M 1 843 M
Net Debt 2023 1 261 B 8 804 M 8 804 M
P/E ratio 2023 19,8x
Yield 2023 1,82%
Capitalization 5 223 B 36 471 M 36 471 M
EV / Sales 2023 0,56x
EV / Sales 2024 0,54x
Nbr of Employees 83 635
Free-Float 84,0%
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Technical analysis trends SEVEN & I HOLDINGS CO LTD
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 5 914,00 JPY
Average target price 6 450,00 JPY
Spread / Average Target 9,06%
EPS Revisions
Managers and Directors
Ryuichi Isaka President & Representative Director
Yoshimichi Maruyama Senior Officer-Risk
Toshiro Yonemura Independent Outside Director
Kunio Ito Independent Outside Director
Tetsuro Higashi Independent Outside Director
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