Key 7-Eleven figure Masatoshi Ito dies
The Japanese retailing giant took 7-Eleven convenience stores global.
Masatoshi Ito, the billionaire Japanese businessman who made 7-Eleven convenience stores a global cultural and consumer staple, died last week at the age of 98.
The company he founded, Ito-Yokado, was the predecessor to 7-Eleven operator Seven & I Holdings. In 1991, Ito-Yokado acquired majority control of 7-Eleven Inc. and in 2005 changed the parent-company name to Seven & i Holdings.
“We would like to express our deepest gratitude for your kindness during his lifetime,” said the company in a statement.
There are more than 83,000 7-Eleven stores around the globe, with about a fourth of them in Japan. Ito was the company’s largest shareholder, amassing a net worth of $5 billion, according to the Bloomberg Billionaire’s Index.
