After his appointment in May, the president of 7-Eleven’s floundering parent company promised to deliver a turnaround plan in about 100 days. Ryuichi Isaka is on day 112 and counting.
Since Isaka took over on May 26, shares of Seven & i Holdings Co. have fallen 8 percent, widening their decline so far this year through Wednesday to 22 percent. The retail conglomerate has lost more than $10 billion in market value as domestic consumers become more frugal and international competition intensifies. Seven & i will announce a strategic growth plan on Oct. 6, the same day it releases second-quarter earnings, said Yuki Toda, a Tokyo-based spokesman. Isaka was not available for an interview, he said.