Masatoshi Ito, a Japanese billionaire, has been declared deceased at the age of 98.
Ito closed the book on one of Asia’s most illustrious retail entrepreneurs by turning 7-Eleven convenience stores into a global empire.
Seven & I Holdings, the owner of 7-Eleven, made the announcement of his passing on Monday.
The firm added in a statement, “We would like to convey our sincere gratitude for your compassion and friendship during his life and respectfully tell you of his passing.
A US-born corporation was transformed into an international brand by Japanese Businessman Ito, especially in Asia where 7-Eleven locations are frequently only a short walk away in many cities. Ito also revolutionized everyday retail in Japan.
Currently, Seven & I Holdings operates over 83,000 stores worldwide, including 7-Eleven locations in 19 different regions and nations.