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Channel NewsAsia
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AsiaPac · 1 hrs ago
SoftBank, PayPay in talks to invest in Seven & i, Bloomberg reports
TOKYO, July 10 : SoftBank Corp and mobile payments operator PayPay are in talks to invest in retail giant Seven & i Holdings, Bloomberg News reported on Friday.The investment will likely total several hundred billion yen and Sumitomo Mitsui Card, a unit of Sumitomo Mitsui Financial Group, may also take a stake, Bloomberg said.Reuters could not immediately verify the report. SoftBank and SMFG declined to comment, while Seven & i did not respond to a request for comment.Seven & i operates the 7-Eleven convenience store chain in countries worldwide, with Japan and the U.S. its largest markets. SoftBank is aiming to use its in-house artificial intelligence to improve store management and look to introduce autonomous robots to reduce manpower in Seven & i stores, Bloomberg said. SoftBank Corp,
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