Japanese company Seven and I Holdings has booked a 9.5 per cent net profit increase in the first quarter.

The 7-Eleven parent says the increase is the highest recorded growth for the traditionally dull first quarter period since 2007.

The company said a large part of its profit was driven by its convenience chain, which has been expanding aggressively, while its department stores Sogo and Seibu contributed a small part.

The company’s forecast profit for the year to February remained unchanged at 340 billion yen (US$3.41 billion).

Meanwhile, 7-Eleven rival FamilyMart has seen its profit decline 6.9 per cent in the first quarter, but, retained its profit outlook at 45.1 billion yen.