By Tomoki Okamoto / Yomiuri Shimbun Staff Writer

Seven Bank Ltd. on Thursday announced that it will buy back its shares from three other firms that are also in Seven & i Holdings Co.'s corporate group.

As a result, Seven Bank will be removed from Seven & i's consolidated financial statements and become an affiliate, accounted for using the equity method of accounting, with Seven & i's stake in the bank falling from 46.4% to 39.9%.

Seven Bank will spend up to 52.4 billion yen to repurchase its own shares from Seven-Eleven Japan Co., Ito-Yokado Co. and York-Benimaru Co. on Friday. Seven & i will then focus on its main business of convenience stores.

After receiving a buyout proposal from Canadian convenience store giant Alimentation Couche-Tard Inc. last year, Seven & i announced measures to independently improve its corporate value this past March. As part of the efforts, Seven & i had indicated it would reduce its stake in Seven Bank to under 40% by the end of fiscal 2025 and remove the bank from its consolidated financial statements.

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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.

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June 20, 2025 01:00 ET (05:00 GMT)

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