Noritoshi Murata
Profile
Performance in office
Tenure
Tenure
Background
He joined Ito-Yokado in October 1971, becoming a Director in May 1990, Managing Director in May 1996 and Senior Managing Director in May 2003. A career employee, he spent 34 years at the general merchandise store parent. The founding family controlled the holding company's capital: in the FY ended February 2006 the major shareholders were Ito-Yokado at 31.75%, Ito Kogyo at 4.97% and Masatoshi Ito at 1.59%.
Selection
On April 20, 2005, Ito-Yokado announced a joint share transfer with Seven-Eleven Japan and Denny's Japan, and after approval at the May general meetings Seven & i Holdings was launched on September 1. Murata moved from Senior Managing Director of Ito-Yokado to become its first President. In fiscal 2004 Seven-Eleven Japan accounted for 92% of consolidated operating income and had a market capitalization 1.46 times that of its parent, and the parent and subsidiary had both been listed for 26 years. It was Chairman Toshifumi Suzuki who explained the move to a holding company at the press conference.
Initiatives
In November 2005 the company made the US 7-Eleven, Inc. a wholly owned subsidiary through a tender offer, and in January 2006 acquired 65.45% of Millennium Retailing, bringing Sogo and Seibu Department Stores under its umbrella. In September that year it made York-Benimaru a wholly owned subsidiary, and in January 2007 merged three restaurant companies to create Seven & i Food Systems. In January 2008 it established Seven & i Financial Group, and the following month Seven Bank listed on JASDAQ. In January 2014 it acquired 50.74% of the voting rights in Nissen Holdings.
Career
Career
Ito-Yokado
| Date | Position |
|---|---|
| Oct 1971 | Joined |
| May 1990 | Director |
| May 1996 | Managing Director |
| May 2003 | Senior Managing Director |
Sebun → Ai Holdings
| Date | Position |
|---|---|
| Sep 2005 | Representative Director, President |
| May 2016 | Stepped down as President |