1 February 2022
The Weekly

Seven & I Holdings is considering selling its department store unit Sogo & Seibu Co due to slumping business amid the coronavirus pandemic and increased competition with online shopping operators. ValueAct Capital, a U.S. investment company with a 4.4 % stake in Seven & i, is stepping up pressure on the major Japanese retailer to sell the department store business. Sogo & Seibu operates 10 stores across Japan, including the Seibu flagship department store in Tokyo's Ikebukuro district. The number of outlets, however, has fallen from 28 in October 2009. The company posted Y430.6 bn ($3.7bn) in sales in the business year ended in February last year.