ValueAct's reputation gamble in Japan pays off [Reuters]
SEVEN & I HLDGS UNSP/ADR (SVNDY)
NASDAQ:AMEX Investor Relations:
en.wikipedia.org/wiki/seven_(1995_film)
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Source: Reuters
The U.S. investment firm prefers to chide management of underperforming companies in private, but it turned heads last year when it publicly lost its temper with Seven & I (3382.T) New Tab , opens new tab . The Japanese company's recent decisions to rejig its structure vindicates the fund's unusual move, though the financial value of its engagement remains poor. The $34 billion company led by CEO Ryuichi Isaka has promised enough change to set the scene for a friendly investor day on Tuesday. The owner of 7-Eleven convenience stores said New Tab , opens new tab this month that it is considering an initial public offering of its loss-making superstores and announced it is separating the role of chairman and CEO. ValueAct now says it will support Seven & i's board nominees. The activist ratcheted up pressure in 2023 when it took its fight directly to shareholders - a tactic it tried for the second time in its history, two years after revealing it held a 4.4% stake in the company
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News
- Japan's 7-Eleven convenience chain targets aggressive global growth [Reuters]Reuters
- Japan's 7-Eleven convenience chain targets aggressive global growth [Yahoo! Finance]Yahoo! Finance
- ValueAct Announces Support for the Substantial Changes in Strategy and Board Leadership Announced by Seven & i [Yahoo! Finance]Yahoo! Finance
- Japan's Seven & i says it is considering sale of superstore operations [Reuters]Reuters
- Japan's Seven & i says it is considering sale of superstore operations [Yahoo! Finance]Yahoo! Finance