Seven & i's proposed buyout to require preapproval by Japan

TOKYO -- Canadian convenience store leader Alimentation Couche-Tard is expected to need prior approval from Japanese authorities to complete a proposed takeover of Seven & i Holdings, given the latter's involvement in potentially sensitive industries, Nikkei has learned.

Under Japan's foreign exchange law amended in 2020, overseas investors must be pre-screened to take a stake in companies in industries like defense, nuclear power, oil and gas, pharmaceuticals and cybersecurity.