TOKYO (Reuters) -Seven & i Holdings is exploring establishing an intermediate holding company for its supermarket, restaurant arms and non-core assets to attract external investment and focus on its convenience store operations, the Yomiuri newspaper reported on Thursday.
The retail giant’s reform plans will be announced alongside its second quarter earnings later on Thursday, the Yomiuri said.
The company would hold non-core assets like its superstores business, general goods store Loft, baby goods store Akachan Honpo and the operating company of Denny’s (NASDAQ:DENN) restaurants in Japan, the Yomiuri said.
The aim is to bring in external capital before a potential initial public offering, the Yomiuri said, citing multiple people with knowledge of the matter.
