Tokyo: Toshifumi Suzuki, the Japanese businessman who played a pivotal role in establishing the global presence of the 7-Eleven convenience store chain, has died at the age of 93. The announcement was made by Seven and i Holdings, where Suzuki served as an honorary adviser, stating that he passed away due to heart failure at his home in Tokyo on May 18.
According to United News of Bangladesh, Suzuki was instrumental in transforming 7-Eleven into a ubiquitous element of Japanese daily life, popularizing the ‘conbini’ model in Japan. These stores offer a variety of quick meals, drinks, snacks, and essential services, such as ATM access, utility bill payments, and document copying. Under Suzuki’s leadership, the chain expanded to operate over 80,000 stores worldwide and became Japan’s largest convenience store network.
The journey of 7-Eleven in Japan began in 1973 with a franchise agreement with the American 7-Eleven chain, leading to the opening of the first Japanese outlet a year later. When the original U.S.-based Southland Corp. encountered financial difficulties in the 1990s, the Japanese company acquired a majority stake, and by 2005, the American business had become a fully owned subsidiary of Seven and i Holdings.
In recent developments, Canadian retailer Alimentation Couche-Tard, which runs the Circle K chain, attempted to acquire Seven and i Holdings. However, the acquisition attempt was abandoned in 2024 due to challenges in negotiations.
Suzuki was born in Nagano Prefecture in 1932 and graduated from Chuo University in Tokyo. His career before 7-Eleven involved working at Ito-Yokado, another major Japanese retail chain under the umbrella of Seven and i Holdings. Throughout his career, Suzuki was credited with innovations such as adding banking services and acquiring Barney’s Japan in 2015. He also played a role in integrating department store chains Sogo and Seibu into the group.
Suzuki became the president of 7-Eleven Japan in 1978 and was acclaimed for revolutionizing shopping habits in Japan. Under his direction, convenience stores in the country became pioneers in adopting modern retail technology. Seven and i Holdings announced that funeral services for Suzuki are being held privately with his family, and requested that no flowers or condolence gifts be sent. A public memorial service will be scheduled at a later date. Suzuki is survived by his wife and two children.