Seven & I Climbs on Reports It Will Sell Ito-Yokado Stores Unit.

Seven & i Holdings Co. is considering listing or selling its supermarket unit, Ito-Yokado, due to increasing competition from discount stores and online retailers. The company may set up a new intermediate holding company for its general merchandising chains. Activist investor ValueAct has called on Seven & i to improve its valuation and pursue structural reform. While a decision on whether to list Ito-Yokado has not been made, the company sees a path toward rebuilding its business. Seven & i has previously announced a partnership with Ito-Yokado to diversify its convenience stores. [Extracted from the article]