TOKYO - Toshifumi Suzuki, the figure who brought 7-Eleven to Japan and raised the modern convenience store industry in the Japanese market, died on May 18 at the age of 93. Kyodo quoted Monday, May 25, reported that Suzuki died of heart failure.
Suzuki is an honorary advisor to Seven & i Holdings Co. His name is attached to the history of convenience stores in Japan. The term refers to an all-in-one store that sells daily necessities, food, drinks, and other practical services, usually with long operating hours.
Suzuki was born in Nagano Prefecture, central Japan, on December 1, 1932. After graduating from Chuo University in 1956, he worked at Tokyo Shuppan Hanbai, a major book distributor now called Tohan Corp.
In 1963, Suzuki moved to Ito-Yokado Co. His career then became an important part of the face of Japanese retail.
With the support of the group's founder, Masatoshi Ito, Suzuki opened the first 7-Eleven store in Japan in 1974 in Toyosu, Tokyo. The store was called the first all-in-one store in Japan. In 1978, he became President of Seven-Eleven Japan Co.
Suzuki's role grew in 1992. Masatoshi Ito stepped down from the chair of Ito-Yokado President to take responsibility for the bribery scandal. Suzuki was then appointed to replace him and took control of the group.
In September 2005, Suzuki formed Seven & i Holdings by combining Seven-Eleven Japan, Ito-Yokado, and Denny's Japan Co. He then served as chairman and CEO.
Under his leadership, the group's business expanded. Seven & i entered the banking sector. The company also brought Sogo & Seibu Co., which was struggling at the time, under the group's umbrella.
However, the end of Suzuki's career was not entirely smooth. In 2016, he proposed a change of President of Seven-Eleven Japan. The proposal was rejected by Masatoshi Ito, founder and major shareholder. The board of directors also rejected the plan. Suzuki eventually resigned.
For the retail industry, Suzuki is known as a figure who reads the changes in the lifestyle of city residents, namely fast, close, and practical shopping. That model makes 7-Eleven grow strong in Japan and become one of the most successful all-in-one store networks in the world.
Suzuki also served as Vice Chairman of the Japan Business Federation or Keidanren, a major business organization in Japan, as well as Chairman of Chuo University.
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