As the business grew, 7-Eleven began offering franchises outside the US.

In 1974, Japanese retail firm Ito-Yokado struck a deal to open the country’s first 7-Eleven. In 1991, it bought a 70% stake in the chain’s US parent company.

The founder of Ito-Yokado, Masatoshi Ito, who died in 2023 at the age of 98, is often credited with transforming 7-Eleven into a global empire.

Ito-Yokado was renamed Seven & i Holdings in 2005 with the “i” in its name being a nod to Ito-Yokado and Mr Ito, who was by then the company’s honorary chairman.

Now, as the the company decides whether it will remain under Japanese ownership or return to its North American roots, experts are wondering whether more of Japan’s big firms could become takeover targets.

There is now a “greater willingness of Japanese boards and management teams to accept offshore capital and be receptive to foreign approaches,” Mr Jain said.

More foreign investors may now be encouraged to pursue their interest in Japanese companies, he added.