Sumitomo Corp. has emerged as a potential bidder for Seven & i Holdings’ York Holdings unit, as Japan’s retail giant moves to streamline operations amid takeover pressure.
The first round of bidding for York Holdings, which controls supermarket chains Ito-Yokado and York Benimaru, along with specialty retailers Akachan Honpo and Loft, closes Thursday. The unit was established in October as part of Seven & i’s restructuring efforts.
Seven & i plans to divest its underperforming supermarket operations to concentrate on its profitable convenience store business. The move comes as the company faces a 7 trillion yen ($45.7 billion) takeover offer from Canadian retailer Alimentation Couche-Tard.
Sumitomo sees potential synergies between York Holdings and its own Summit supermarket chain, which operates over 120 stores in the Greater Tokyo region. The trading house aims to leverage combined procurement power and product development capabilities.
Seven & i intends to sell a majority stake in York Holdings by February 2026. Market observers indicate multiple investors have shown interest in the retail unit, setting the stage for competitive bidding.
