In the three months period ended May 31, 2024, the Japanese economy persisted in experiencing negative real wage growth due to factors such as rising prices associated with soaring energy and raw material costs, even while employment and income conditions improved. This has led to a clear divergence in consumption patterns, with incomes of the young and the elderly increasing due to rising wages and the extension of the retirement age, but also an emerging awareness of the need to protect livelihoods, especially among those responsible for child rearing.
　The North American economy remained robust overall, despite a persistently inflationary and elevated interest rate environment. In this context, there was a more prudent approach to consumption, in particular among middle- and low-income earners, who were particularly affected by rising prices and interest rates.
　In this environment, the Seven & i Group aims to be “a world-class retail group centered around its ʻfoodʼ that leads retail innovation through global growth strategies centered on the 7-Eleven business and proactive utilization of technology.” To achieve this goal, the Group has been pushing ahead with the business strategies and Group strategy laid out in the updated Medium-Term Management Plan (announced on March 9, 2023).
　The Group is taking a multi-faceted approach on addressing changes in the consumption environment in Japan and abroad, not only from a medium- to long-term perspective but also from a short-term perspective.
　As previously announced on April 10, 2024, the Group has developed concrete action plans to maximize the Groupʼs corporate and shareholder value and is promoting initiatives to steadily implement these plans.
　Our consolidated results for the three months ended May 31, 2024 are summarized below.