At the age of 98 passed away the Japanese billionaire Masatoshi Ito who owned the chain Mini market “7 Eleven” and opened more than 83,000 businesses worldwide.
As it states bbc.comhis company issued a statement saying “we would like to express our sincere gratitude for his kindness during his lifetime.”
According to the British publication, in 1956, Mr. Ito took over a small business of clothing stores in Tokyo run by his half-brother at the time. He later renamed it Ito-Yokado and turned the business into a chain of one-stop shops selling everything from groceries to clothing.
In 1972 an Ito-Yokado executive, Toshifumi Suzuki, spotted a ‘7 Eleven’ store during a visit to the US. The company then struck a deal with 7 Eleven’s owner – the US-based Southland Corporation – and opened Japan’s first 7 Eleven in 1974. Mr. Ito’s company moved to acquire a controlling stake in Southland Corporation in March 1990.
“I was lucky to start business right after the war – at the same time that a broad consumer society was beginning to develop in Japan,” Masatoshi Ito had said of his success.
Source: News Beast
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