Japan’s Seven & i Holdings plans to list its supermarket unit Ito-Yokado, Kyodo news agency reported on Tuesday citing unnamed sources.
The retail conglomerate aims to focus on its mainstay 7-Eleven convenience store operation by having the supermarket business listed, Kyodo said.
Seven & i will likely announce its plan to list Ito-Yokado, a major general merchandise store chain, on Wednesday, when it is set to announce its financial results, Kyodo said.
Asked about the Kyodo report, a company spokesperson said nothing had been decided at this point.
Ito-Yokado, which is struggling to compete with specialty outlets and discount stores, announced in February that it will withdraw from Japan’s major northern island of Hokkaido and some other regions.
Reuters