Seven & i Shareholders' Meeting All options including Sogo & Seibu sale

At the general meeting of shareholders of Seven & i Holdings, a major distributor, President Ryuichi Isaka reiterated his policy of considering all options, including the sale of Sogo & Seibu, a department store under the umbrella of the company, which continues to be sluggish. I did.

The General Meeting of Shareholders of Seven & i was held at the head office in Tokyo on the 26th, and about 250 shareholders attended.

Regarding Seven & i, while the investment fund in the United States, which is a major shareholder, is requesting to concentrate management resources on the main convenience store business, the sale of Sogo & Seibu, a department store under the umbrella that continues to be sluggish, is being considered. In the second bid for the sale, which took place on the 23rd of this month, three foreign investment funds responded.

At the general meeting on the 26th, shareholders asked questions about the future of Sogo & Seibu, and President Isaka said, "We have made various efforts such as attracting stores with local needs, but we have all options such as the best owner. We are in the process of considering it with a view to it, "he said, reiterating his policy of considering all options, including sales.

At the general meeting, a proposal to appoint 15 directors, including 9 outside directors, was passed as "improving the diversity of the board of directors," and the proposal was completed in about 1 hour and 40 minutes.

Considering the sale of Sogo & Seibu Shareholders

Shareholders who attended the general meeting of shareholders of Seven & i Holdings expressed their support for the consideration of selling Sogo & Seibu, but also expressed concerns about the future of the business after the sale. ..

A male shareholder in his 50s said, "I agree with the direction of selling Sogo & Seibu and concentrating on the convenience store business. I think it would be better to select the business in a way that suits the changing times. I was talking.

Meanwhile, another male shareholder in his 50s said, "Department stores are an important industry. I'm worried about what kind of management the acquired company will do. I think it will disappear, "he said, and pointed out that the company should review its profit-oriented business strategy.