Apparently they're fighting it hard in Japan. I remember when the Southland Corporation basically sold the parent company to the Japanese licensee. And now they're going into heavy protectionism now that a Canadian company is trying to take it over.
Seven & i is seeking reclassification of 7-Eleven’s status from a “non-core” to “core” rating or “protected” status under Japan’s Foreign Exchange and Foreign Trade Act, insider sources told the newspaper. That change would allow the government to weigh in on the deal if the parties reach an agreement, said the report. It would require prior notification of any purchase of its shares above 10%.
Core industries include sectors such as aerospace, nuclear energy and rare earths. The law was designed to protect the country from security risks, such as the outflow of military technology, the report said.
