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7-Eleven parent to cut stake in home goods chain to focus on core

Japanese group makes first reversal of post-2000s diversification strategy

Home decor chain Francfranc turned in record earnings last fiscal year after closing stores.(Photo by Keigo Yoshida)

TOKYO -- The Japanese retail group behind 7-Eleven has decided to sell off part of its stake in Tokyo-based home decor chain Francfranc so it can concentrate on its mainstay convenience stores.

The move represents a change for Seven & i Holdings, which has never divested shares of a group company since embarking on a diversification strategy in the 2000s. Potential buyers include Tokyo-based investment funds Integral and the Japan Growth Investments Alliance, with the transaction expected to be completed as soon as July.

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