Japanese retailer Lawson Inc considers Seijo Ishii IPO (updated)

Lawson

12/04/2022 09:36

(Recasts to change sourcing, adds detail, company comment)
    TOKYO, April 12 (Reuters) - Japanese convenience store
operator Lawson Inc  2651.T  is considering taking wholly owned
supermarket chain Seijo Ishii Co public, it said on Tuesday.
    The Nikkei business daily earlier reported that Lawson was
planning an IPO for Seijo Ishii by the 2023 financial year,
potentially valuing the business at more than 200 billion yen
($1.59 billion).
    A Lawson spokesperson, however, said the company is
considering a listing of the supermarket business but a final
decision has not been made, including specifics on the size or
timing.
    Lawson is one of Japan's biggest convenience store chains,
with more than 14,500 locations competing with market leader
7-Eleven and FamilyMart. It is 50% owned by trading company
Mitsubishi Corp and also has thousands of stores in mainland
China.
    A listing for Seijo Ishii would test investor appetite for
retailers in a country where household spending has been under
pressure for decades and now faces a bigger squeeze from higher
import costs and a weaker yen.
    However, Seijo Ishii stands apart in the retail market.
Where most of its rivals focus on price and value, Seijo Ishii 
has carved a niche by focusing on expensive, imported goods and
high-end domestic products.
($1 = 125.5800 yen)

 (Reporting by Chang-Ran Kim, Rocky Swift and David Dolan
Editing by David Goodman)
 ((ran.kim@thomsonreuters.com; +81-3-4520-1228;))