In Domestic convenience store operations, revenues from operations amounted to ¥921,706 million (103.5% year on year), and operating income amounted to ¥250,544 million (108.0% year on year).
SEVEN-ELEVEN JAPAN CO., LTD. (“SEJ”) is focusing on addressing changes in customers’ purchasing behavior that emerged from the COVID-19 pandemic, in addition to population aging and increases in single-person households and working women. Accordingly, SEJ has been implementing activities including strengthening the development of original merchandise such as fast food and Seven Premium, changing store layouts in order to increase the number of items carried, and conducting sales promotions that produce an event-like sense of excitement.
In addition, SEJ has been enhancing measures to achieve a nationwide roll-out of the “7NOW” delivery service. These measures include establishing a system to increase the number of stores handling the service. Further, SEJ launched the “7NOW App” on September 5, 2023.
Furthermore, SEJ opened the SIP* store, a new concept store, on February 29, 2024. The new store was launched to address significant changes in customers’ purchasing behavior, lifestyle values, and diverse needs in a rapidly changing environment.
For the fiscal year ended February 29, 2024, we benefited from the success of various measures such as proactively conducting limited-time sales promotions, setting themes based on region, menu, etc., and offering a varied assortment of merchandise for each theme, and conducting sales promotion initiatives leveraging our app. We also benefited from a recovery in customer traffic brought on by the resumption of special exhibitions and events in each region and favorable weather. As a result, existing store sales increased year on year. Moreover, operating income was ¥251,029 million (107.8% year on year). Total store sales (the sum of sales from directly operated stores and franchisees) amounted to ¥5,345,243 million (103.8% year on year).

* Refers to a partnership (dubbed “SIP”) between SEVEN-ELEVEN JAPAN CO., LTD. (SEJ) and Ito-Yokado Co., Ltd. (IY).

In Overseas convenience store operations, revenues from operations amounted to ¥8,516,939 million (96.3% year on year), and operating income amounted to ¥301,628 million (104.1% year on year).
In North America, 7-Eleven, Inc. (“SEI”) faced a tough consumer spending environment due to an economic stimulus package during COVID-19 having ended, in addition to ongoing concerns about the economy slowing in connection with inflation and monetary tightening. Nevertheless, SEI worked to address the needs of customers seeking value, strengthen the development and sales of high-quality, high-margin proprietary products (fresh food items, proprietary beverages, and private brand products), bolster “7NOW” delivery service initiatives, and enhance customer loyalty through the use of digital technology. Also, SEI started operations at its Virginia plant on September 11, 2023 as part of steps to strengthen the development of high-quality fresh food items by building a value chain in North America. In addition, the integration process with the Speedway business acquired in May 2021 is proceeding smoothly, with synergies generated since the integration reaching U.S.$976.5 million in the fiscal year ended December 31, 2023, exceeding our target of U.S.$800 million.
As a result, for the fiscal year ended December 31, 2023, merchandise sales at existing stores in the U.S. increased year on year in U.S. dollars. Moreover, total store sales (the sum of sales from directly operated stores and franchisees) amounted to ¥10,200,414 million (97.7% year on year) due to lower gasoline prices and lower sales volume, despite growth in merchandise sales. Meanwhile, operating income amounted to ¥413,966 million (104.4% year on year) due to factors such as improvement in the merchandise gross profit margin and impact from yen depreciation.
Furthermore, SEI announced in January 2024 the acquisition of a part of the convenience store business and gasoline retail business of U.S. company Sunoco LP. The aim of the acquisition is to further accelerate growth in the North American market.
7-Eleven International LLC has plans to establish a store network of 50,000 stores in areas outside Japan and North America by the fiscal year ending December 31, 2025, and to open stores in 30 countries and regions worldwide, including Japan and North America by the fiscal year ending December 31, 2030. Based on these goals, it will advance growth strategies both in countries where it already has stores and those where it will open stores for the first time. As for existing countries, 7-Eleven International LLC decided in February 2023 to invest in the Vietnam business. In November 2023, 7-Eleven International LLC announced the acquisition of the Australian company Convenience Group Holdings Pty Ltd (SEA) and acquired all shares of this company on April 1, 2024. And for new countries, the first store was opened in Israel in January 2023 and in Laos in September 2023. As a result, 7-Eleven has the stores in 20 countries and regions worldwide.

In Superstore operations, revenues from operations amounted to ¥1,477,384 million (101.9% year on year), and operating income amounted to ¥13,588 million (109.6% year on year).
Ito-Yokado Co., Ltd. is implementing growth initiatives and fundamental reforms to improve profitability. As part of those efforts, Ito-Yokado, Co., Ltd. and York Co., Ltd. completed a merger on September 1, 2023 with Ito-Yokado Co., Ltd. being the surviving company and York Co., Ltd. being the dissolved company. By maximizing both companies’ synergies and operational efficiencies, we are working to strengthen sales capabilities, reduce SG&A expenses, and improve productivity. In addition, strategic investment infrastructure, such as process centers, central kitchens, and online supermarkets, started operations. Moreover, as part of efforts to accelerate its focus on the Tokyo metropolitan area store network, Ito-Yokado Co., Ltd. signed an agreement on business succession and related matters with York-Benimaru Co., Ltd., DAIICHI CO., LTD., and OIC Group Co., Ltd. on February 2024, for certain stores in the Hokkaido, Tohoku, and Shinetsu areas.
For the fiscal year ended February 29, 2024, sales rose year on year accompanying the merger with York Co., Ltd. However, the operating loss amounted to ¥1,205 million (operating income of ¥408 million for the same period of the previous fiscal year), mainly owing to higher costs associated with strategic investments in infrastructure.
For York-Benimaru Co., Ltd., we are furthering initiatives to revitalize existing stores, enhance development and sales of delicatessen merchandise in order to realize its concept of “making the daily meals of customers in local areas more enjoyable, plentiful, and convenient.”
For the fiscal year ended February 29, 2024, existing store sales increased year on year, as it benefited from the success of suitable price increases in response to soaring raw material prices, and sales promotion initiatives, in addition to a recovery in customer traffic. As a result, York-Benimaru’s operating income amounted to ¥18,701 million (103.8% year on year), despite an increase in SG&A expenses such as new store-related costs and personnel costs.

In Financial services, revenues from operations amounted to ¥207,479 million (106.8% year on year), and operating income amounted to ¥38,172 million (102.8% year on year).
As of February 29, 2024, the number of domestic ATMs operated by Seven Bank, Ltd. stood at 27,370, up 481 from the previous fiscal year-end. The average number of transactions per day per ATM amounted to 104.6 (up 3.5 year on year), owing to improvement in the number of transactions at deposit-taking institutions in step with a recovery in customer traffic and an increase in non-banking transactions such as consumer finance in line with increased demand for funds, as well as a sustained high level of cash charge transactions as consumers opted for various cashless payments. As a result, total transactions of Seven Bank’s ATMs during the fiscal year ended February 29, 2024 increased year on year. As of February 29, 2024, Seven Bank had cash and deposits (including cash for ATM loading) of ¥877.1 billion.
In addition, on July 1, 2023, we transferred all shares of Seven Card Services Co., Ltd. owned by Seven Financial Service Co., Ltd., a consolidated subsidiary of the Company, to Seven Bank, Ltd. Through this transaction, we aim to capture synergies by integrating the management of banking and non-banking businesses.