Activist investor ValueAct Capital is pushing Japanese retail group Seven & i Holdings to either spin off its 7-Eleven convenience store chain or consider selling the company in its entirety, according to a report by Reuters.

Activist investor ValueAct Capital is pushing Japanese retail group Seven & i Holdings to either spin off its 7-Eleven convenience store chain or consider selling the company in its entirety, according to a report by Reuters.

The San Francisco-based hedge fund, which owns a 4.4% stake in Seven & I and has-been pushing for change since 2020, is looking to replace four board members at the company's annual meeting and earnings call on 6 April.

In a recent letter to the Seven & i board, ValueAct wrote that it had been "unable to establish confidence in the management or governance" or the company and was concerned about "entrenchment" in the board's attitude to proposed corporate changes.

ValueAct wants answers to nine key questions when the company reports earnings this week including why a tax-free spin-off of 7-Eleven has not been instigated, and whether the board is aware of any takeover approaches for Seven & I in the last five years.