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seven and i to announce new ceo amid takeover bid and restructuring
Seven & i Holdings is set to announce a new CEO and a restructuring plan amid a $47 billion takeover bid from Alimentation Couche-Tard. Stephen Dacus, the lead outside director, is expected to succeed Ryuichi Isaka, marking the first time a foreign-born executive will lead the company. The restructuring may involve selling non-core assets to Bain Capital for over 700 billion yen, as the company faces pressure from investors and a competitive bidding landscape.
Japanese stocks rise with SoftBank gains amid foreign market influences
The SMI showed strength in pre-market trading, with the euro gaining against the franc. Japanese stocks are influenced by foreign factors, as noted by Fumio Matsumoto of Okasan Securities, with Fast Retailing rising 2.9% and Tokyo Electron up 3.6%. However, Advantest's 1.33% decline weighed on the Nikkei, despite SoftBank's 3.72% gain.
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