Cross shareholdings is back

Nowadays, in Japan, listed companies’ cross shareholdings is back.

According to Nihon Keizaishinbun, the purpose of this cross shareholdings is not to avoid takeover but to strengthen  the relationship to corporate clients.

A few years ago, some listed companies began to hold shares each other again for takeover defense.

But cross shareholdings is bad custom from the viewpoint of corporate governance because cross shareholders are never opposed.

So, the moves are criticized by other shareholders. 

A few 7-eleven owners formed a labor union

Aug 4, a few 7-eleven’s franchise owners formed a labor union and expressed their wish to bargain collectively with 7-eleven Japan about pricing and rate of royalties.

The number of the owners is 230. 7-eleven Japan’s stores are over 12000.

7-eleven Japan says franchise owner is not worker and their “labor union” is not legal labor  union.

In Japan franchise law does not exist. The owners insists on acts protecting franchise owners.