Message from the CEO

We are accelerating innovation to stay ahead of our customers’ evolving needs, exceed expectations, and become their first choice for convenience.

Stephen Hayes DacusRepresentative Director, President & CEO

Taking on the CEO role

Prior to my appointment as CEO, I served as a non-executive director of Seven & i for three years. During that time, I was both the chairman of the strategy committee and chairman of the Board. This gave me a unique perspective on both the opportunities and challenges facing our Company. It was clear to me that Seven & i has a great business model and formidable strengths. However, we were not fully leveraging our strengths globally to better serve our customers and create value for our stakeholders.
Since its founding, our Company has been guided by the spirit of “Trust, Integrity and Embracing Change.” These principles have long served as the foundation of our growth. Yet, over time, we lost some of our entrepreneurial mindset and became more conservative. We were no longer embracing and leading change. We were not driving innovation in anticipation of our customers’ evolving needs and exceeding expectations as we had previously.
I take on this role with a determination to transform the business and position us for another generation of success. I am clear-eyed about the challenges inherent in transformation and encouraged that we have a strong, aligned team to achieve it.

Embracing change

The transformation of Seven & i has already begun. In August, we shared our “Transformation of 7-Eleven” plan. This was our first truly global strategic plan, which clearly defines our global priorities and how we will deliver on them. This has given us a stronger sense of alignment and shared direction across the Group. To ensure timely execution and delivery of the Plan, we have fundamentally changed our management processes and systems, enhancing communication, speed, and accountability. With a clear, uniﬁed strategy and frequent, transparent, and substantive communication across regions, we are beginning to operate as a global enterprise. The operating units know what is expected of them and are able to execute with greater autonomy, speed and discipline.
Transformation takes time, but early results are already visible. Clearly deﬁning and aligning on our goals and changing how we work to achieve them are important steps that underpin our long-term value creation.

Leveraging our strengths

In September 2025, Seven & i transitioned to a structure focused on our CVS business, designed to drive future growth. This strategy is built on three core strengths: merchandising, operational excellence, and our unmatched store network.
Over many decades, we have developed deep expertise in creating high-quality products that excite and delight our customers. In both Japan and North America, our average daily sales per store signiﬁcantly exceed those of competitors, proof that our product strength gives us a clear competitive edge. We also excel in store operations, ensuring the right products are available in the right quantities, at the right time and place. Together with our franchise partners, this enables a consistently strong customer-centric focus. Scale is another of our greatest strengths. Our network of approximately 34,000 stores across Japan and North America serves more than 30 million customers daily. Over 90% of Japan’s population lives within two kilometers of a 7-Eleven, and more than 50% of the North American population lives within two miles. No other food retailer has a comparable footprint.
Building on these advantages, we are expanding 7NOW, our digital delivery platform, to provide new levels of convenience and create even greater value for customers. In North America, 7NOW has already reached $1 billion in annual sales, and we see this as a new pillar of growth that will help redeﬁne the future of convenience. By leveraging our capabilities, we will continue to accelerate global growth with food that delivers great taste, quality, and value.

Maximizing growth opportunities across businesses

Each of our operating companies is working to maximize its growth opportunities. Across the Group, we are strengthening our advantage in fresh food, private brands, and proprietary products. We are broadening our store network with diverse, optimized formats, and are scaling 7NOW.
At SEJ, we will reestablish SEJ as a leader in innovation. At SEI in North America, we will seek to capture untapped proﬁt pools within our supply chain as the largest fuel retailer in the United States. Both companies are executing transformation programs to optimize the entire value chain and tighten cost control, thereby reinforcing our competitiveness. Meanwhile, 7IN is pursuing a disciplined investment approach to drive faster growth and higher returns.
We will support these efforts with the establishment of Centers of Excellence focused initially on technology, supply chain and talent. This will allow us to leverage the power and scale of the entire Group to create sustainable competitive advantage in these key areas.

Commitment to long-term value creation for shareholders

As outlined in August 2025, over the next ﬁve years, we plan to increase EBITDA by approximately 45%, and grow EPS by approximately 144% to ¥210 per share, while also improving ROIC from 4.8% in FY2024 to 12.6%.
We are fully committed to maximizing long-term shareholder value through a disciplined capital allocation framework that we believe will drive a signiﬁcant increase in shareholder returns over FY2030.

Figure: Commitment to an improved long-term growth algorithm — Commitment to an improved long-term growth algorithm

* Inclusive of deconsolidation of the SST Business Group and 7BK, and IPO of SEI Note: LSD = Low Single Digit; MSD = Middle Single Digit

Strengthening global talent and leadership for transformation

To achieve our global objectives, we need to attract, develop, and empower outstanding talent. We are expanding global talent management programs to identify high-performing individuals across regions and develop them into global leaders. In addition to SEJ and SEI, we are building a global talent base that includes our teams in Australia as well as exchange programs with exceptional licensees around the world.

Advancing sustainability as a long-term growth driver

We aim not only to meet the needs of today’s customers, but also to support the lives of customers tomorrow. Our initiatives in human rights, climate action, and responsible sourcing will both strengthen our resilience over the long term and generate new opportunities for sustainable growth.
Our stores already serve as more than just places to shop. They function as community infrastructure, providing a base for disaster response, crime prevention, resource recycling, and social connection. By embedding sustainability into our daily operations and culture, we will continue to grow together with society and enhance our corporate value in ways that resonate with all stakeholders.

To our stakeholders

As a global organization, we possess unmatched scale and know-how in the industry, and our untapped potential remains signiﬁcant.
By executing a coherent, integrated growth strategy under the single 7-Eleven brand, through disciplined management processes and empowered local operations, we will further maximize corporate and shareholder value.
I ask for your continued support as we take the next steps in this journey of transformation.