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TOKYO Oct 6 Seven & i Holdings Co Ltd,
Japan's second-biggest retailer by sales, on Thursday said it
has entered a capital and business alliance with smaller peer
H2O Retailing Corp, with both companies planning to
take a 3 percent stake in each other.
Separately, Seven & i said it aims to boost annual operating
profit to 450 billion yen ($4.34 billion) by the business year
ending Feb. 28, 2021.
The operator of Seven Eleven convenience stores last week
lowered its full-year operating profit forecast for the current
year ending Feb. 28 to 353 billion yen from an earlier estimate
of 379 billion yen amid a downturn in consumer spending.
In the six months ended Aug. 31, operating profit rose 5.2
percent to 181 billion yen, the company also said on Thursday.
($1 = 103.6000 yen)
(Reporting by Tim Kelly; Editing by Christopher Cushing)