...S&P Global Ratings believes that the Japanese and overseas convenience store businesses drive the competitiveness and profitability of the Seven & i Holdings Co. Ltd. group--one of Japan's two largest retailers. Seven-Eleven Japan Co. Ltd., which operates a Japanese convenience store business, is highly competitive. Excellent merchandising policies, store development in good locations, and infrastructure strengths such as ordering systems and logistics support the business, in our view. The company maintains average daily sales per store at a level more than 20% higher than its competitors. The company will continue to play a leading role in the domestic convenience store market, and its EBITDA margin will remain high, at over 30%. In the overseas convenience store business, the group further strengthened its market position and business base in North America through the acquisition of part of Sunoco LP. Over the next few years, the Seven & i group will remodel into Seven-Elevens the approximately...