SoftBank, PayPay in talks to invest in Seven & i, Bloomberg reports

Japanese technology conglomerate SoftBank Corp and its mobile payments affiliate PayPay are reportedly in talks to invest in Seven & i Holdings, the operator of the global 7-Eleven convenience store chain. The potential investment, as reported by Bloomberg News, could be substantial, totaling several hundred billion yen.

Sources suggest that Sumitomo Mitsui Card, a subsidiary of Sumitomo Mitsui Financial Group, might also participate in the investment, acquiring a stake in Seven & i. While Reuters could not immediately verify the report, SoftBank and Sumitomo Mitsui Financial Group declined to comment, and Seven & i did not respond to a request for comment.

SoftBank's interest reportedly stems from a desire to integrate its in-house artificial intelligence capabilities to enhance store management within Seven & i's vast network. The company is also exploring the introduction of autonomous robots to address labor shortages and improve operational efficiency in the stores. This strategic move aligns with SoftBank's broader investments in AI and technology, including its significant commitment to OpenAI.

The potential investment comes approximately a year after Seven & i Holdings concluded a protracted battle with Canadian rival Alimentation Couche-Tard. Couche-Tard had made a bid to acquire Seven & i in what would have been Japan's largest-ever foreign buyout, but the Japanese company successfully resisted the takeover attempt.