In the six months ended August 31, 2023, the Japanese economy showed signs of improvement in consumer spending due to the normalization of economic activity as further progress was made on the easing of activity restrictions, including reclassification of COVID-19’s category to Class 5 under the Act on the Prevention of Infectious Diseases and Medical Care for Patients with Infectious Diseases.
In North America, the economy showed some signs of improvement, such as a recovery in employment conditions. However, the effects of continued inflation and monetary tightening fueled concerns about an economic slowdown, making the outlook uncertain.
In this environment, the Seven & i Group aims to be “a world-class retail group centered around its ‘food’ 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).
Our consolidated results for the six months ended August 31, 2023 are summarized below.
“Accounting Standard for Revenue Recognition” (ASBJ Statement No.29, March 31, 2020), etc. have been applied since the fiscal year ended February 28, 2023.