Seven & I Proposal Fuels Rally in Japanese Retailers Like Aeon

The drama over a takeover proposal for Seven & i Holdings Co. has gotten investors interested in other Japanese retailers such as Aeon Co., boosting their share prices.

Shares of Aeon, Japan’s third-biggest retailer in terms of market value, have extended their gains to 25% this year and reached a record high this week. The jump came as people with knowledge of the matter said Alimentation Couche-Tard Inc. is discussing improving its offer for the 7-Eleven owner. Other retail firms such as furniture seller Nitori Holdings Co. have outperformed Japan’s overall share market.

The Seven & i news isn’t ...