Japan designates 7-Eleven owner 'core' industry, complicating takeover

Crazy. It has so many strong competitors within Japan that if it were to disappear it would make no difference to "security." Customers would just go to all the numerous Familymarts...or Circle-Ks, LOL. etc. Also, 100s of 7-11s have eliminated their 24-hour operations in the last couple of years, running on shortened hours, so they all that "essential" anymore.

If a combini chain can be this important, then I guess the J-gov should understand that US Steel is also considered a "core industry".

7-11 is a must for my business and if that defines it as a national security asset then so be it!

The Japanese finance ministry on Friday designated the parent company of 7-Eleven a "core" industry, a move that could make a takeover by Canadian rival Couche-Tard more difficult.

I agree .

Japan's uber-convenient conbinis are essential to the LDP/Japan Inc. combine in keeping the Japanese working public accepting of their declining living standards.

I'm smelling that stink that sometimes arises from Japan and it's still strong sense of exceptionalism...

A foreign company buying a Japanese one is a "threat" to Japan and should be resisted...

Yet when that same rationale, which by the way I don't agree with. is raised with respect to Nippon Steel buying out US Steel, it's somehow viewed as overtly unfair...

I'm OK with either buyout, I just wish our Japanese friends would more consistent and less hypocritical...

Prehistoric policy remains firmly in Japan. Protectionism pure and simple.

And these days Lawsons in front of Mt Fujis are more core to Japan than 7-11.

Japan’s government and bureaucracy has its hands in all the pies. Let the economy be free and it’ll do what’s best.

Is it the corporate criminal 7 Eleven the company guilty of 173 million USD wage theft this article is referring to. Or is 7&iholding the corporation that is not guilty of wage theft. Big difference, One is a Corporate criminal having to pay back 173 million in wages, the other is a law abiding company. Which is JT.

Good old double standards Japan again. They're allowed to gobble up companies wherever. Boot on other foot, no way it's a threat to the country. Pathetic.

Interesting to see the bagging Japan gets despite other countries doing the very same thing.

It's also interesting to note that the ACT company

operates more than 16,700 outlets in 31

So they just want own more. If they really wanted to, they could just increase their Circle K store numbers couldn't they?

Data: Still the parent company 7 Eleven takes annual profits from its franchises. Making the Texas Corporation complicit. Get it right.

7-11. US Steel. There might be a connection there, but I don't see it. 7-11 is iconic in Japan. I went there, oh, I don't know. . .thousands of times. And as with many, many Japanese version of US stores and restaurants, it sure beat the US. Here the stores were sloppy, disorganized, and no nearly as pleasant to go to. Okay, although I don't see the connection, the posters here seem to be against Japan buying it. Don't sell it. That will make the unemployed steel workers ecstatic.

Who would have thought a convenience store franchise would be considered a matter of national security. Not food production itself? What happened to raising the 38% self sufficiency rate, Japan? The whole just on-time food system is broken and needs to be revamped as shown with the manufactured rice crisis.

7-Eleven operates more than 85,000 outlets globally.

The "operating" in Japan is done through franchisees. I don't what's going on with this particular case, but I would hope the franchisees are protected from radical changes due to M&A.

The finance ministry included Seven & i in a regular update on national security classifications of various companies.

"Core industries are those industries for which advance notification is required" because there is "a significant risk of damage to national security", Japan's Cabinet explains on its website.

What a crock this is. I love 7/11 Japan but this is just straight up protectionism. I know my onigiris and coffee are not part of national security.

They want U.S. Steel but don't want give up 7-11.

Seven & i, however, said Friday the rating "has nothing to do with the takeover offer from ACT" as the list was updated based on "the ministry's inquiry in June."

Suspicious change, or the offer was done knowing the change as a core company would happen.

There is nothing of a national security with a convenient store. It is a protectionist move. No need for the same authorities to criticize any US government intervention in the US steel buyout, which is more strategic than any convenient store

why not just apply to UNESCO for World Heritage status for 7-Eleven and be done with it? （＾＿－）

The Japanese Finance Ministry just killed any chance of a Nippon Steel takeover of U.S. Steel, like, zero chance! The Biden Administration can now use the same logic to justify it's refusal on the acquisition. I believe Kamala Harris as well as Trump have also voiced opposition to the deal so that's that, end of story!

diagonalslip...

why not just apply to UNESCO for World Heritage status for 7-Eleven and be done with it?

Post of the week!

Well done.

Let them buy 7-11, Lawson can then dominate.

why not just accept a little little bit of connivance to drive the offer price up? does jpn gov hold any securities that may benefit?

Hypocrisy at the highest level! How does Japan always get a pass for being such hypocrites is unbelievable!

Win for the consumers though. You know that once a takeover happen, profits will go up but there would be massive cutbacks to product quality and service quality. Western companies simply dont run B2C businesses with the consumers in mind.

Same happened a few years back when Asahi Glass took over Pilkington Glass of the UK, but when a British company wanted to buy that Bulldog Sauce brand, the J-government blocked it. Total hypocrites.

Well that came out if nowhere, particularly when PM candidate Kono is saying government should stay out of steel takeovers.

Steel vs combinis? You're not going to defend a nation with an egg sandwich LOL.

You can access your family register which contains very private information and is connected to local government, pay bills and do a variety of useful administrative things at 7/11. I feel it is more secure in local hands.

I guess f they would've offered more than the value, let's say three or ten-fold , for example, it would have silently disappeared from that core list within a few minutes. rofl It is all just a question of money amounts, not more and not less.

Steel vs combinis? You're not going to defend a nation with an egg sandwich 

If you get hit by an earthquake or tsunami, would you not go for the egg sandwich before the steel?

Such a purchase, mooted since August, would be the biggest foreign takeover of a Japanese firm

But it was designated core industry way before

Seven & i, however, said Friday the rating "has nothing to do with the takeover offer from ACT" as the list was updated based on "the ministry's inquiry in June."

ian

Today 09:09 pm JST

Such a purchase, mooted since August, would be the biggest foreign takeover of a Japanese firm

But it was designated core industry way before

> Seven & i, however, said Friday the rating "has nothing to do with the takeover offer from ACT" as the list was updated based on "the ministry's inquiry in June."

Both Seven eleven and US Steel are in a very different financial environment.

One is the biggest ( 85,000 and a quarter 21250 in Japan vs 16700 globally) and in its strength and continuously evolving offering services you cannot imagine . Let's give credit to that.

The other, US Steel is..... very attractive now not only to foreign company Japan,but to other foreign companies (other countries) also, whoever first, maybe not because of "it's strength" .

In the end we will be tempted to categories those foreign company of such country in such same languages.

One is the biggest ( 85,000 and a quarter 21250 in Japan vs 16700 globally) and in its strength and continuously evolving offering services you cannot imagine . Let's give credit to that.

Sure...it's a big business with substantial labour ramification, but 'national security'? The world would just see it as comedy.

Mornig,

I like the logo structure of Japan 7-Eleven owner 'core' industry.

The leg of the person support the main structure of the number 7.

Thanks and regards.

Boscherini Piergiorgio from Rome, ITALY.