Seven & i Holdings was established on September 1, 2005 as the parent company of the 7-Eleven Japan chain of convenience stores, the Ito-Yokado grocery and clothing stores, and the Denny's Japan family restaurants. On December 26, 2005, the company announced its acquisition of Millennium Retailing holding company, parent of the Sogo and Seibu Department Stores chains. The acquisition makes Seven & i Holdings the largest distribution and retailing business in Japan. On August 11, 2006, Seven & I purchased Lombard, Illinois-based White Hen. On June 11, 2012, Seven & I, through its 7-Eleven, Inc. subsidiary, acquired 23 convenience stores in the US from Strasburger Enterprises, Inc. On December 4, 2013, Seven & I purchased 44.99% ownership of Barneys Japan Co., Ltd. from "a fund operated by Tokio Marine Capital". Barneys Japan "has a network of 10 stores in Japan, including five outlet stores" and, "for the year ending February 2013, Barneys Japan posted sales of ¥19.52 billion." After this transaction, Sumitomo Corporation will continue to retain a majority stake of 50.01% in Barneys Japan Co., Ltd. On January 29, 2014, Seven & I, through its subsidiary Seven & i Net Media, acquired 50.71% of Nissen Holdings, which is engaged in the mail order sale of clothing and daily necessities, the retail and wholesale of gift products through stores, catalogs, Internet and mobiles. Also, Nissen is involved in the life insurance, casualty insurance agency, credit card and money lending business. On April 6, 2017 Seven & I announced they would be acquiring 1110 convenience stores from American gas company Sunoco for $3.3 billion, as well as that they would be supplied 2.2 billion gallons of fuel annually from Sunoco for 15 years. Sunoco said they would be selling 200 more stores to Seven & I in Q4, 2017. The current President of Seven & i Holdings, Ryuichi Isaka, was appointed to that position on May 26, 2016, replacing Noritoshi Murata, who resigned his position along with Chief Executive and Chairman Toshifumi Suzuki in April 2016, after activist investorDaniel Loeb, who owns an undisclosed stake in Seven & I through his investment companyThird Point, raised concerns about rumours that Suzuki was grooming his son, Yasuhiro Suzuki, as his successor. In July 2019, 7-Eleven launched then almost immediately suspended a mobile payment service, 7pay. The service was hacked upon launch, and attackers were able to spend money from affected customers' accounts. The service was announced to be entirely cancelled following a review of the infrastructure it ran on.
