Seven & i agrees strategic partnership, $620 million investment with SoftBank, SMFG units
31/07/2026 08:58
Seven & i agrees strategic partnership, $620 million investment with SoftBank, SMFG units By Anton Bridge
TOKYO, July 31 (Reuters) - Japan's Seven & i Holdings 3382.T has formed a strategic partnership with SoftBank Corp 9434.T, PayPay PAYP.O and Sumitomo Mitsui Card, which will each invest 100 billion yen ($620 million) into the 7-Eleven operator, a filing showed on Friday.
Each of the three will acquire a 2.27% stake in Seven & I, the filing showed.
The firms aim to integrate their customer information and create a loyalty points ecosystem across Seven & i's physical stores and the other firms' online and financial customer bases, the filing said.
($1 = 160.3900 yen)
(Reporting by Anton Bridge and Miho Uranaka)
Recent news on Sumitomo Mitsui Financial
See all newsBrief: Sumitomo Mitsui Banking Corp - 227,216 Email Addresses For Its Email Distribution Were Leaked Externally As A Result Of Unauthorized Access By A Third Party To Arara Message, Provided By Arara Inc
Brief: Nidec Corporation - Notice Regarding Renewal Of Commitment Line Agreement
Japan's Nikkei ends lower as Kioxia tanks, Tokyo Electron rises on strong outlook
Australia's AirTrunk bags $3 billion green loan to expand Sydney data centre
Stabilisation Notice