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Japan's Seven & I raises profit forecast on overseas sales prospects

·1 min read

TOKYO, July 7 (Reuters) - Japan's Seven & I Holdings raised its full-year profit forecast on Thursday on expectations that a weaker yen will boost the value of overseas convenience store sales.

The company lifted its operating income estimate 15% to 445 billion yen ($3.28 billion) in the year ending February 2023, it said in first-quarter results.

The operator of 7-11 and Speedway convenience stores in the United States said it now expects the yen to trade at 127 to the dollar this year, against 114 previously, resulting in a 24.5 billion yen boost to operating income. ($1 = 135.8400 yen) (Reporting by Rocky Swift Editing by David Goodman )