Key facts
- SoftBank Corp and PayPay are in discussions to invest in Seven & i Holdings.
- The potential investment could amount to several hundred billion yen.
- Sumitomo Mitsui Card, a unit of Sumitomo Mitsui Financial Group, might also acquire a stake.
- SoftBank plans to integrate its AI technology and autonomous robots into Seven & i's store operations.
- Seven & i Holdings operates the 7-Eleven convenience store chain globally.
SoftBank Corp and its mobile payments affiliate PayPay are reportedly in discussions to invest in Japanese retail giant Seven & i Holdings, with the deal potentially totaling several hundred billion yen. Sumitomo Mitsui Card, a unit of Sumitomo Mitsui Financial Group, may also participate in the investment, according to Bloomberg News.
SoftBank aims to leverage its artificial intelligence capabilities and autonomous robots to enhance store management and reduce labor needs within Seven & i's extensive network of convenience stores, which include the globally recognized 7-Eleven brand. SoftBank Corp, the domestic telecommunications arm of SoftBank Group, has been actively developing AI tools for enterprise clients, including collaborations with ChatGPT-maker OpenAI.
This potential investment follows a period of strategic maneuvering for Seven & i, which successfully resisted a significant takeover attempt last year by Canadian convenience store rival Alimentation Couche-Tard. The outcome of these discussions between SoftBank, PayPay, and Seven & i remains to be seen, as Reuters could not immediately verify the report, and the involved parties either declined to comment or did not respond.