Convenience store giant Lawson has announced that it has decided to withdraw its listing application on the Tokyo Stock Exchange for its subsidiary food supermarket Seijo Ishii.
Seijo Ishii, a 100% subsidiary of Lawson and a food supermarket that operates mainly in the Tokyo metropolitan area, applied for listing on the Tokyo Stock Exchange in September this year.
However, according to Lawson's announcement, Seijo Ishii changed his policy of aiming for listing at the board meeting on the 16th and decided to withdraw the listing application.
Regarding the reason for the withdrawal, Lawson said, ``Amidst the view that the US economy will slow down, we comprehensively considered trends in interest rates, foreign exchange rates, and the domestic stock market.''
It was believed that the listing of Seijo Ishii would increase the independence of management and seek partnerships with other supermarkets, but Lawson said, "We will continue to consider the option of listing on the stock market. We will consider policies that will lead to the improvement of the corporate value of