7-Eleven founder passes away at 98

[webfact]

 

Masatoshi Ito, a Japanese billionaire who assisted in building the 7-Eleven convenience stores into a massive international corporation, passed away at the age of 98.

 

Operator Seven & I Holdings stated in a statement that he passed away on Friday of last week due to old age.

He was good to us during his lifetime, and we want to thank him from the bottom of our hearts for that, the company stated.

 

Around one-fourth of the world’s 83,000 7-Eleven locations are in Japan.

 

 

When his uncle and half-brother left the firm in 1956, Mr. Ito took over the little Tokyo clothing store.

 

Later, Mr. Ito changed the name to Ito-Yokado and transformed the company into a network of one-stop shops that offered everything from groceries to clothing. In 1972, it was made public.

 

Full story: https://bangkokone.news/7-11-founder-passes-away-98/

 

-- © Copyright BANGKOK ONE NEWS 2023-03-15

 

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This story is false. Masatoshi Ito was not the founder or even a founder of 7-Eleven. 7-Eleven was founded in the USA in 1928. In the 1990's it was acquired by its Japanese affiliate headed by Ito.

https://en.wikipedia.org/wiki/7-Eleven

[Mickeymaus]

He looks so unhappy in this picture... Perhaps better to be only customer at 7 Eleven.

[KhunLA]

Not even close to the founder, and already international before he was involved.

 

Kudos to him, if he kept the pricing competitive  in Thailand, vs USA silly pricing for the convenience.   Except for the few staples to get you into a 'USA' 7-11, the rest of the offerings  were silly priced when I lived there, and I never really used.  WaWa so much better, though regional when there, USA.

 

Here, they are the best 'dept store' when out and about ???? and a welcomed sight when on the road.

Edited March 15, 2023 by KhunLA

[PETERTHEEATER]

44 minutes ago, placeholder said:

This story is false. Masatoshi Ito was not the founder or even a founder of 7-Eleven. 7-Eleven was founded in the USA in 1928. In the 1990's it was acquired by its Japanese affiliate headed by Ito.

https://en.wikipedia.org/wiki/7-Eleven

Thinks......Let's go online and amend the Wikipedia entry to show Ito as the founder......????

[EVENKEEL]

26 minutes ago, KhunLA said:

Not even close to the founder, and already international before he was involved.

 

Kudos to him, if he kept the pricing competitive  in Thailand, vs USA silly pricing for the convenience.   Except for the few staples to get you into a 'USA' 7-11, the rest of the offerings  were silly priced when I lived there, and I never really used.  WaWa so much better, though regional when there, USA.

 

Here, they are the best 'dept store' when out and about ???? and a welcomed sight when on the road.

It's wild that Thailand has such great gas stations with 7-11. It's a one stop shop. It's a shame the US can't adopt this system aside from Truck Stops.

[riclag]

I wish they allowed 7’s at filing stations to sell adult beverages here. I like the concept and convenience of one stop shopping!

Im sure  Mr. Ito would agree!

[The Theory]

7-11 Japan is the best. Soup, coffee, mini alcohols, bakery, ....... and and and. And clean toilets, some even have 2. 

[richard_smith237]

19 minutes ago, The Theory said:

7-11 Japan is the best. Soup, coffee, mini alcohols, bakery, ....... and and and. And clean toilets, some even have 2. 

Ah...   the stress of needing a bathroom when out and about overseas is something completely alien to visitors in Japan....  its replaces with ‘button stress’... i.e. what happens if I press that button !!!... you’ll get the surprise of your life or drenched (depending if you are sat or standing !!)... 

 

But... back to 7-11... they’re awesome in Japan... are Lawsons....  

 

Many people here think its a good idea to get a 7-11 franchise, but its my understanding that as soon as it becomes successful that CP group open their own nearby. Basically, a franchise is customer research for the CP group. 

[alex8912]

I love 7/11 here in Thailand/ Japan and Asia in general. I live 2 blocks away from one 1/2 the year in Massachusetts and probably step foot in it twice a year. Prices are simply ridiculously high compared to a supermarket. 

[bendejo]

I have long suspected that in Bkk there was a rule that every 7-11 must be within sight of at least one another 7-11.  There's more than 5,000 in the area.  12,000 in all of LOS.

 

 

[TallGuyJohninBKK]

I worked at 7/11 in the U.S. as a teenager and it helped finance my college education. The company (Southland Corp.) started out as a U.S. company in the 1940s and 1950s... the Japan part came much later in the 1970s.

 

"By 1945 Southland owned stores scattered over north-central Texas. These stores offered convenient hours—operating from seven in the morning until 11 at night—seven days a week. When the Tracy-Locke firm was commissioned to create a new name, they chose “7-Eleven” to emphasize the company’s commitment to serving customers. At this time Southland remodeled all 7-Eleven stores, doubling the amount of floor space at each retail outlet."

 

Southland extended its area of operations outside of Texas during the late-1950s when John Thompson, now vice-president, introduced 7-Eleven stores in Virginia, Maryland, and eastern Pennsylvania...."

 

etc etc...

 

https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/southland-corp

 

Edited March 16, 2023 by TallGuyJohninBKK