August 20, 2017 12:23 PM ET

Food and Staples Retailing

Company Overview of Ito-Yokado Co., Ltd.

Company Overview

Ito-Yokado Co., Ltd. operates superstores, convenience stores, and restaurants in Japan, China, Canada, and the United States. The company operates superstores that offer consumer goods and food; convenience stores that sell food, apparel, and household goods; and restaurants. It also conducts banking and credit card operations. Ito-Yokado Co., Ltd. was formerly known as Yokado Co., Ltd. and changed the name to Ito-Yokado Co., Ltd. in March, 1971. was founded in 1920 and is headquartered in Tokyo, Japan. Ito-Yokado Co., Ltd. operates as a subsidiary of Seven & I Holdings Co., Ltd.

8-8, Nibancho

Chiyoda-ku

Tokyo,  102-8450

Japan

Founded in 1920

15,633 Employees

Phone:

81 3 6238 2111

Fax:

81 3 6238 3492

Key Executives for Ito-Yokado Co., Ltd.

Chairman, CEO & Representative Director
Age: 84
Representative Director, President, and Chief Operating Officer
Age: 83
Founder & Honorary Chairman
Age: 93
President of IY Bank
Age: 76
Vice Chairman, Chief of Corporate Strategy div & EVP
Age: 78
Compensation as of Fiscal Year 2017.

Ito-Yokado Co., Ltd. Key Developments

Ito-Yokado Co., Ltd. Reports Non-Consolidated Earnings Results for the Year Ended February 28, 2017

Ito-Yokado Co., Ltd. reported non-consolidated earnings results for the year ended February 28, 2017. For the year, revenues from operations was JPY 1,255,017 million against JPY 1,289,586 million a year ago. Operating income was JPY 52 million against operating loss of JPY 13,980 million a year ago. Ordinary income was JPY 1,786 million against ordinary loss of JPY 13,405 million a year ago. Loss before income taxes was JPY 23,939 million against JPY 24,831 million a year ago. Net loss was JPY 13,797 million against JPY 23,923 million a year ago.

Ito-Yokado to Close 8 Supermarkets

Seven & i Holdings Co. will close eight stores of supermarket unit Ito-Yokado Co., including one in Toyohashi in the central Japan prefecture of Aichi. By scrapping the unprofitable outlets, Seven & i will accelerate its efforts to rebuild its sluggish supermarket business. Of the eight stores, one in Kurashiki, Okayama Prefecture, western Japan, will be closed on Aug. 31, and one in Sakado, Saitama Prefecture, next to Tokyo, on Oct. 16. Those in Toyohashi, Inuyama, also in Aichi, Uji, in Kyoto Prefecture, and Okayama will shut by the end of February 2017. The Higashi Narashino store in Narashino, Chiba Prefecture, east of Tokyo, will also be closed in the same period. An outlet in Urayasu, Chiba, will be closed down by the end of July 2017. Seven & i plans to shut down a total of 40 Ito-Yokado outlets over five years. The company has already closed three such stores since April this year.

Ito-Yokado's Daxing Shop to Cease Operations from July 1, 2016

Ito-Yokado's Daxing shop will cease operating since July 1, 2016 leaving three department stores and one food shop in Beijing. The three stores and food shop are said have not become profitable by far.

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