Couche-Tard’s takeover interest in the 7-Eleven owner is a pivotal moment for the country’s efficiency drive. In this Viewsroom podcast, Breakingviews columnists explain why Tokyo ought to wait to see how the target reacts before opining, and how a deal could easily turn hostile.

Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt-out of targeted advertising.