TOKYO -- Seven & i Holdings, the convenience chain operator and target of Japan's biggest foreign takeover bid, announced a sharp fall in income for the financial year through February and forecast an operating income recovery that was below analysts' expectations.
Stephen Hayes Dacus, the recently appointed CEO of the 7-Eleven parent, said the company was set to improve its business performance and that it would focus on the convenience store business. Plans are to place a greater emphasis on high value-added merchandise in Japan and proprietary products in North America. "We have been too conservative in the past," Dacus said, "and we want to change that."
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