Canadian takeover bid for Japan's 7-Eleven could change how the Asian country does business

Would a foreign company upend konbini culture?

A 7-Eleven convenience store in Kobe, Japan
The convenience store chain is a linchpin of Japanese society
(Image credit: Soichiro Koriyama / Bloomberg / Getty Images)

Convenience stores aren't just big business in Japan: They're a linchpin of the nation's culture — with reputations for tasty, well-prepared food and an astoundingly wide array of critical services — known as "konbini." Now a takeover bid could change everything.

7-Eleven stores are a "cornerstone of Japanese society," said The New York Times. Yes, the chain started in Texas, but it quickly became a huge success after opening its first Japanese store in 1974 — and has been a wholly-owned Japanese company since 2005. Now the Canadian firm Alimentation Couche-Tard (ACT) — which operates the Circle K chain — has offered an "unsolicited bid" to buy the company, raising alarms among the Japanese public: The sale would be the "equivalent to Toyota becoming a foreign company," said one analyst.

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Joel Mathis, The Week US

Joel Mathis is a writer with 30 years of newspaper and online journalism experience. His work also regularly appears in National Geographic and The Kansas City Star. His awards include best online commentary at the Online News Association and (twice) at the City and Regional Magazine Association.