Seven & I Holdings Co., the operator of 7-Eleven convenience stores, said Thursday net profit inched down in the first three quarters of its business year as it invested to make shops more high-tech.
Japan’s largest convenience store chain said its net income fell 2.4 percent to 102.29 billion yen (932 million dollars) in the nine months to November. Operating profit slipped 1.9 percent to 209.09 billion yen, a statement said.
Seven & I Holdings, which runs 11,800 24-hour outlets across the nation, said it had incurred large upfront costs to put in place a system of touch-free electronic money cards.
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