Japan's Seven & i set on growing 7-Eleven business through M&As

TOKYO -- Seven & i Holdings will focus on strengthening its convenience store business through mergers and acquisitions in North America while also pursuing an initial public offering of its supermarket business, including Ito-Yokado, the company said on Wednesday.

In an action plan approved by the board, the Japanese retail conglomerate aims to conduct the IPO of the loss-making supermarket operation "as soon as reasonably practicable as one workable option."