Seven & i Holdings Co. is prepared to relinquish a degree of control over its future by considering the sale of a stake to key strategic partners, signaling a shift in its long-standing independent approach.

The operator of the 7-Eleven convenience store chain is reportedly in discussions to issue new shares worth several hundred billion yen to SoftBank and PayPay Corp., a major Japanese payment service provider, according to sources.

This move is designed to allow all three companies to better capitalize on consumer spending trends and aims to bolster profit growth for Seven & i's core convenience store operations. However, it represents a significant departure from the company's traditional strategy of maintaining independence by avoiding equity ties to preserve strategic flexibility. Despite forming various commercial partnerships, its reluctance to sell equity—a stance aimed at retaining autonomy in a fast-evolving market—has limited its ability to achieve greater scale in areas like payment infrastructure and artificial intelligence.

This direction contrasts with recent industry consolidation. Major rival FamilyMart became a wholly-owned subsidiary of the trading giant Itochu Corp. in 2020. Four years later, another blue-chip trading house, Mitsubishi Corp., partnered with telecom leader KDDI Corp. to acquire Lawson. While Seven & i has a long-standing business alliance with Mitsui & Co., the top-tier trading firm holds less than a two percent stake in the company.

The potential partnership could be further solidified if Sumitomo Mitsui Financial Group's credit card unit proceeds with a potential investment, joining SoftBank and PayPay Corp. in taking a stake in Seven & i, sources indicated.

Negotiations involving SoftBank, PayPay Corp., and the Sumitomo Mitsui unit are ongoing, with a target to finalize an agreement this summer. However, the talks remain fluid and could still fall apart without a deal being reached.

Representatives for SoftBank, which holds a majority stake in PayPay Corp., and the Sumitomo Mitsui credit card unit declined to comment. Seven & i did not immediately respond to a request for comment.