Toshifumi Suzuki, father of Japan’s convenience stores, dies at 93

TOKYO, Japan – Toshifumi Suzuki, the founder of Seven-Eleven Japan and widely regarded as the father of Japan’s convenience store industry, died of heart failure on May 18, Seven & I Holdings said on Monday, May 25. He was 93.

Born in Nagano in 1932, Suzuki joined retailer Ito-Yokado in 1963 after working at a book wholesaler. Despite early skepticism, he partnered with US-based Southland Corporation, the operator of 7-Eleven, to launch Seven-Eleven Japan in 1973, opening the first store in Tokyo the following year.

He pioneered the use of data to manage inventory and built a model centered on ready-to-eat meals and rapid stock turnover, helping transform convenience stores into a cornerstone of Japan’s retail sector.

Suzuki also led the restructuring and rescue of Southland in the early 1990s after the parent company filed for bankruptcy following a leveraged buyout.

He went on to establish Seven & I Holdings in 2005 and oversaw its expansion into a major retail conglomerate. He stepped down as chairman in 2016 after a management dispute but remained a key figure in Japan’s retail industry. – Rappler.com

المصدر: Rappler (PH)