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Business deals

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

Foreign investment rules could hinder Couche-Tard's bid for 7-Eleven parent

Seven & i Holdings, which operates the 7-Eleven convenience store chain, is one of Japan's leading retailers.   © Reuters

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.

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