Japanese convenience retailer Seven & i Holdings slashed its earnings forecasts for the fiscal year ending February 2025.
Seven & i said it saw fewer customers at its overseas convenience stores as they took a"more prudent approach to consumption." The company noted it recorded a charge of 45.88 billion yen related to its spin-off of Ito-Yokado Online Supermarket., the owner of 7-Eleven said it will set up an intermediate holding company for its supermarket food business, specialty store and other businesses, amid growing pressure from investors to trim down its portfolio.of $14.
"We've had a lot of problems with poison pills in Japan in recent years, and the legal structure is extremely opaque," he added. Companies trying to shake off an acquirer may opt to deploy a"poison pill" by issuing additional stock options to dilute the attempted acquirer's stake. That said, if the offer gets to a"sufficiently attractive level," he said it may be difficult for the board to continue to reject it.