Seven & i Holdings Receives Seven First-Round Bids from Sumitomo and U.S. Funds for Ito-Yokado Sale

Seven & i Holdings has commenced the first round of bidding for the sale of its intermediate holding company, which includes its supermarket chain, Ito-Yokado. Participants in this initial bidding process include Sumitomo Corporation and several U.S. investment funds. The company is currently in the process of narrowing down potential buyers. Reports indicate that at least seven bids have been received for the sale of noncore businesses, including the shares of the holding company that oversees Ito-Yokado. The bidding process is part of Seven & i's strategic efforts to divest noncore assets and streamline operations.