Seven & i, the convenience store chain’s Japan-based parent company, said net income attributable to its owners dropped 23 per cent in the year that ended Feb. 28. Shares fell about 4.5 per cent in Tokyo. (The Logic)

Talking point: The net income drop is unlikely to impress investors who are pushing the firm to consider a takeover offer from Quebec rival Couche Tard, which also owns Circle K. Incoming Seven & i CEO Stephen Dacus hopes to correct the company’s history of “missing opportunities,” but reportedly warned in a briefing that its U.S. initial public offering plans could be delayed amid market turmoil. The company also said that North American consumers are becoming more “prudent” amid trade policy uncertainty, and that Japanese households have been trying to spend less. Couche Tard said last month that its plan to buy Seven & i would present shareholders with more value than an IPO.