Laox Holdings CO.,LTD. completed the acquisition of Barneys Japan Co., Ltd. from Seven & i Holdings Co., Ltd..
May 30, 2023
Share
Laox Holdings CO.,LTD. (TSE:8202) agreed to acquire Barneys Japan Co., Ltd. from Seven & i Holdings Co., Ltd. (TSE:3382) on April 6, 2023. Post transaction Laox Holdings holds 255,601 shares in Barneys. For fiscal year ending February, 2023, Barneys has net worth of - ¥2.022 billion, Total assets of ¥8.154 billion, Sales of ¥12.711 billion, Operating loss of ¥515 million and net loss of ¥775 million. The transaction is expected to close on May 1, 2023. Nobuya Matsunami and Hiroko Jimbo of Nishimura & Asahi acted as legal advisor to Seven & i Holdings Co., Ltd. (TSE:3382).
Laox Holdings CO.,LTD. (TSE:8202) completed the acquisition of Barneys Japan Co., Ltd. from Seven & i Holdings Co., Ltd. (TSE:3382) on May 1, 2023.
Seven & i Holdings Co., Ltd. specializes in retailing. Net sales break down by type of stores as follows:
- convenience stores (58.4%): operated, at the end of February 2021, 31,586 stores (of which 21,702 located in Japan) under the Seven-Eleven name;
- supermarkets and specialized stores (32.8%): owned 1,339 stores primarily under the names Seven & i Food Systems (614), York-Benimaru (235), Ito-Yokado (132), The Loft (131), Akachan Honpo (117) and York (100) ;
- department stores (7.3%): owned 10 stores under the Sogo & Seibu name;
- other (0.1%).
The remaining sales (2.9%) are primarily from financial services and catering services.
Net sales break down geographically as follows: Japan (59.6%), North America (38.7%) and other (1.7%).