Ito-Yokado, a major supermarket chain, has decided to move its headquarters in Chiyoda-ku, Tokyo, closer to its large stores in Tokyo. As part of our structural reforms, we aim to reduce expenses and increase the speed with which we can rebuild our business.
Ito-Yokado's headquarters is currently located in the same building in Chiyoda-ku, Tokyo as its parent company, Seven & i Holdings, but according to the company, it will be relocated to a location near a large store in Ota-ku, Tokyo, by this summer. This means that they are planning to do so.
Regarding Ito-Yokado, business performance continues to be poor, with final losses for three consecutive years, and Seven & i will reduce the number of stores by one-quarter of the total in the three years until February 2026, and operate the apparel business in-house. The company has announced plans to proceed with structural reforms, including withdrawing from the company.
This is the first time in about 20 years since 2004 that Ito-Yokado has relocated its headquarters, and the company aims to reduce costs and increase the speed with which it can rebuild its business.
In addition, the company is working hard to solidify its footing in order to accelerate structural reforms, such as by increasing retirement benefits and continuing support for job changes for employees aged 45 and older who apply.