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Japan's Seven & i, Odakyu Electric Railway enter into business agreement

Seven & i Holdings Co. Ltd. said March 8 that it aims to open more of its 7-Eleven convenience stores along a revamped railroad run by Odakyu Electric Railway Co., Ltd. as part of an agreement between the two Japanese companies.

Under the agreement, Odakyu Group's supermarket unit, Odakyu OX, will leverage Seven & i's knowledge of the industry to expand its store network. Odakyu SHOP, the Odakyu OX store format at train stations, and Odakyu MART, its convenience store counterpart, will convert to 7-Eleven franchises. Odakyu OX is run by Odakyu Electric's unit Odakyu Shoji Co. Ltd.

Seven & i, which will also roll out its Seven Premium private-label brand to Odakyu OX stores, said the two companies expect negligible financial impact due to the agreement. The partnership is forecast to add to the companies' profit in the medium term to long term.

Further discussions on the details of the partnership are scheduled to end by August.