Masatoshi Ito, Japanese billionaire who turned 7-Eleven into global empire, dies

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Masatoshi Ito, Japanese billionaire who turned 7-Eleven into global empire, dies
France Dernières Nouvelles,France Actualités
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There are more than 83,000 7\u002DElevens dotting the globe, with about a fourth of them in Japan

Starting Small

After forging a deal with Texas-based Southland Corp., then-owner of the 7-Eleven chain, Suzuki opened the first outlet in Japan in 1974. That business would eventually outgrow Ito-Yokado’s general merchandising segment; in 1991 the company acquired Southland’s equity.Article content Seven & i became one of Japan’s largest retailers. In 2020, it agreed to buy about 3,900 Speedway gas stations and stores from US-based Marathon Petroleum Corp. for $21 billion, at the time its biggest-ever deal.

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