--- title: 7-Eleven in Japan dials convenience up to… well, eleven. - The Hustle description: Masatoshi Ito, who helped grow Japan’s 7-Eleven empire, has died at 98. image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1071715948-HS-News-Brief_2023-03-16T000302.590Z-scaled.webp --- # 7-Eleven in Japan dials convenience up to… well, eleven. ![Juliet Bennett Rylah](https://53.fs1.hubspotusercontent-na1.net/hubfs/53/assets/hubspot.com/web-team/WBZ/HubSpot%20Media/Blog%202021/Images/Nav/Optimized/TheHustle_Icon_Dark.svg) [Juliet Bennett Rylah](https://hs-sbup.thehustle.co/author/juliet-bennett-rylah) [Juliet Bennett Rylah Twitter profile ](https://twitter.com/JBRylah) Published: March 16, 2023 Updated: October 11, 2023 Japanese entrepreneur Masatoshi Ito died last week at 98. If you’ve ever been to Japan and marveled at its awe-inspiring 7-Elevens, you owe thanks, in part, to Ito. ![7-Eleven in Japan dials convenience up to… well, eleven.](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/Images/1071715948-HS-News-Brief_2023-03-16T000302.590Z-scaled.webp?width=595&height=400&name=1071715948-HS-News-Brief_2023-03-16T000302.590Z-scaled.webp) In the US, 7-Eleven had sprung from the 1927 [merger](https://www.britannica.com/topic/7-Eleven) of several Texas icehouses, known as the Southland Ice Company. They ultimately became a chain of convenience stores, open from 7am to 11pm daily. **Masatoshi Ito…** … entered retail as the president of his family’s clothing store. In the ‘60s, he launched Ito-Yokado, a Japanese grocery chain inspired by US supermarkets. In the 1970s, Ito-Yokado exec [Toshifumi Suzuki](https://www.youtube.com/watch?v=vIVwiqT8m88) was attempting to secure a Denny’s license, but was wowed by 7-Eleven. Japan didn’t have anything like it, and he persuaded Ito to also become a 7-Eleven licensee. **Ito-Yokado opened its first 7-Eleven in 1974 in Tokyo…** … leading to a [massive boom](https://apnews.com/article/6476e22882b1865bbffb28a8f16485a7) in 24/7 convenience stores, AKA “[konbini](https://www.byfood.com/blog/culture/guide-to-konbini-japanese-convenience-stores).” By the ‘80s, Ito-Yokado’s empire — which included 4k+ 7-Elevens across Japan — was generating **$12B** in annual sales, [per](https://www.nytimes.com/2023/03/13/business/masatoshi-ito-dead.html) *The New York Times*. - In 1991, Ito-Yokado purchased a 70% stake in the floundering Southland for $430m. - In 1992, Ito stepped down amid accusations that the company had paid off Japanese racketeers and was replaced by Suzuki. Ito returned as honorary chairman in the late ‘90s, a position he held until his death. #### **But why are Japanese 7-Elevens so good?** The konbini has become a place you *want* to go. They have: - Huge selections of delicious and fresh prepared foods, snacks, and beverages - Banking, mail, travel, and other handy services - Many have communal seating Today, Ito-Yokado is known as Seven & I Holdings, and operates 80k+ 7-Eleven stores globally, including 21k+ in Japan. 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