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Seven & i Holdings to divide domestic, overseas convenience store ops

7-Eleven owner Seven & i Holdings Co. Ltd. announced April 6 that it will divide its convenience store business into domestic and overseas operations as part of a segment administration scheme to help the company reach its fiscal targets for 2020.

Seven & i said it intends to generate an operating income of ¥450 billion and a return on equity of 10% for the fiscal year ending Feb. 29, 2020.

Under the scheme, the convenience store business will be positioned as a "growth pillar" and its domestic and overseas operations will be managed separately "to reflect their different environmental attributes."

The company also created a new business unit, specialty store operations, in place of food services and mail order services. Other business segments remain largely unchanged.

As of April 5, US$1 was equivalent to ¥111.18.