Seven & i Holdings raised its full-year profit forecast after a surge in fuel margins at its North American convenience store business drove a strong first quarter. Net profit for the three months ended May 31 rose 24% year over year to ¥60.60 billion, with overseas convenience store segment operating profit jumping to ¥65.59 billion from ¥8.69 billion a year earlier, powered by fuel margin gains. The domestic convenience store segment saw a 4.2% operating profit decline to ¥52.24 billion, while revenue fell to ¥2.38 trillion from ¥2.78 trillion partly due to the deconsolidation of subsidiaries including Seven Bank. The company now expects full-year revenue of ¥10.43 trillion and net profit of ¥278 billion, up from earlier projections of ¥9.45 trillion and ¥270 billion, though net profit would still be about 5% lower than the prior fiscal year. It also raised its operating income forecast to ¥425 billion from ¥405 billion, citing stronger-than-anticipated fuel profits from North American operations and a favorable yen exchange rate. The strong quarter comes as Seven & i prepares for an initial public offering of its North American business, which has been postponed until at least the fiscal year starting in March 2027 due to rising oil prices tied to the Middle East conflict. The company also announced that its board resolved to cancel treasury stock to address concerns about future share dilution.
Seven & I Holdings Co., Ltd.Fuel margin gains at North American convenience stores drove strong Q1 earnings and raised full-year profit forecast.
Seven Bank, Ltd.