A potential foreign acquisition of Japanese retail giant Seven & I would be “heavily related” to national security, Japan’s economy minister Ryosei Akazawa said on Wednesday.
His public comment is the first by a senior Japanese official over security issues raised by a $47 billion buyout offer by Canada’s Alimentation Couche-Tard.
Seven & I was classified as “core” to Japan’s national security in September, raising questions as to whether it was a defensive move. The finance ministry said at the time that the classification would not create hurdles to a potential buyout.