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New Global Retail Giant Emerges

12, 26. 2005

Japan's second largest retailer Seven & I Holdings Co. and Millennium Retailing Inc., operator of two department store chains, announced to integrate their management on Dec. 26. Seven & I operates convenience stores Seven-Eleven Japan Co. and the Ito-Yokado Co. supermarket chain, while Millennium Retailing has Seibu Department Stores Ltd. and Sogo Co. under its umbrella. The merger will result in the birth of world's major distribution giant group, which will dominate over convenience stores, supermarket chains and major department stores. The group's domestic sales will reach five trillion yen ($42.9 billion) in total, becoming the largest in Japan's retail industry.

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