Masatoshi Ito, who brought 7-Eleven stores to Japan, dies: NPR

Masatoshi Ito, the Japanese billionaire who made 7-Eleven stores a cultural and consumer staple of the island nation, died last week. He was 98 years old.

According to a statement from Ito’s Seven & i Holdings, the esteemed chairman died of old age.

“We want to express our deepest gratitude for your kindness during his lifetime,” the company said in a statement.

Formerly known as Ito-Yokado, the company opened its first American chain store in Japan in 1974. Over the next few decades, 7-Eleven’s popularity in the country skyrocketed.

In 1991, Ito-Yokado bought a majority stake in Dallas-based Southland Corporation, which owned 7-Eleven, thereby gaining control of the chain.

Ito resigned a year later amid allegations that company officials paid off members of the yakuza, the BBC reported. However, he remained connected to the company he founded as his 7-Eleven business grew very successfully.

In 2003, there were over 10,000 7-Eleven stores in Japan. In 2018, this number doubled.

So called Japanese shops konbini are common across the country, but 7-Elevens may be different from what American consumers are used to.