Seven Bank enter talks on potential capital and business alliance with Itochu

Seven Bank operates more than 28,000 ATMs in Japan.

Seven Bank Ltd, the banking arm of Seven & I Holdings Co, the owner of convenience store chain 7-11, has partnered with Japanese trading company Itochu Corp on a potential capital and business alliance that would include collaboration across a wide range of financial fields.

Seven Bank operates more than 28,000 ATMs in Japan, many of them located in convenience stores, shopping centres, airports and train stations, and also provides services overseas.

Itochu is one of Japan’s largest trading houses, spanning textiles, machinery, metals, energy, chemicals, food and general products. The company also owns the convenience store chain FamilyMart.

The companies said they will move forward with talks on possible tie-ups in multiple financial domains.