trending Market Intelligence /marketintelligence/en/news-insights/trending/92U3XtUSdPxh8k1get37zA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Seven-Eleven Japan admits to underpaying staff

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Seven-Eleven Japan admits to underpaying staff

Seven & i Holdings Co. Ltd.'s Seven-Eleven Japan admitted that it underpaid employees for years because of miscalculations, Reuters reported Dec. 10, citing a company statement.

Japan's labor standards inspectors alerted the convenience store chain in September, which traced the errors back to 2012.

The company said it will pay about ¥490 million, or $4.5 million, in back wages and compensation to more than 30,000 workers in 8,000 stores. Seven-Eleven Japan has apologized to its franchisees and employees for the problem, the company reportedly said.

The Nikkei Asian Review in its same-day report said the errors may have gone back to the 1970s when the franchise was established, but company records only go as far back as 2012. Further, the Nikkei said Seven-Eleven Japan was made aware of the error in October 2001 but did not publicly disclose it or reimbursed employees.

The admission came amid an ongoing labor shortage in the country. In May, Seven & i announced plans to overhaul its domestic business after it insisted on maintaining its 24-hour model, which sparked concern among franchise owners. The company also trialed shorter business hours and cashierless stores to deal with difficulties in finding staff members.

As of Dec. 9, US$1 was equivalent to 108.60 Japanese yen.