7-Eleven Founder Toshifumi Suzuki Passes Away; Singapore Inflation Declines; Hindalco Reports Strong Aluminium Margins
Corporate news live: 7-Eleven founder dies, Singapore inflation cools, Hindalco sees stronger aluminium margins

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Toshifumi Suzuki, the founder of 7-Eleven, has died at 93. Singapore's inflation rate fell to 1.8% in April, below expectations, while Hindalco Industries anticipates stronger aluminium margins due to currency depreciation and rising prices.
- 01Toshifumi Suzuki died of heart failure at his home in Tokyo on May 18, 2023, at the age of 93.
- 027-Eleven, founded by Suzuki in 1973, has grown into a global network with over 80,000 stores.
- 03Singapore's inflation rate for April was reported at 1.8%, lower than the expected 2%.
- 04Hindalco Industries expects stronger aluminium EBITDA margins in Q1FY27, projecting a price of $3,500 per tonne for aluminium.
- 05The company plans to restart operations at its Oswego unit and maintain a $500 EBITDA per tonne at Novelis.
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Toshifumi Suzuki, who played a pivotal role in establishing 7-Eleven as a global convenience-store leader, passed away at the age of 93 due to heart failure at his Tokyo residence on May 18. Suzuki founded the Japanese division of 7-Eleven in 1973, leading to the chain's expansion to over 80,000 locations worldwide. In economic news, Singapore reported a lower-than-expected inflation rate of 1.8% for April, down from the anticipated 2%, with core inflation at 1.4%. The Ministry of Trade and Industry also revised the country's first-quarter GDP growth significantly upward to 6%, projecting full-year growth for 2026 between 2% and 4%. Additionally, Hindalco Industries noted that the depreciation of the Indian rupee is positively impacting its operations, as most costs are rupee-linked while aluminium sales are dollar-denominated. The company forecasts stronger aluminium EBITDA per tonne in the upcoming quarter, driven by rising prices, and is focused on restarting its Oswego unit before progressing with the Bay Minette expansion.
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The passing of Toshifumi Suzuki marks a significant loss for the retail industry, particularly in Japan, where 7-Eleven has a strong presence.
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