TOKYO (Reuters) – Japan’s Seven & i responded fairly by saying a takeover offer from Canada’s Couche-Tard was too low, Suntory Holdings chief executive Takeshi Niinami said on Wednesday.

The offer for the operator of 7-Eleven convenience stores has made Japanese chief executives nervous about potential overseas takeovers, said Niinami in a Reuters NEXT Newsmaker interview.

Niinami, 65, is one of Japan’s most influential executives, serving as chair of the Keizai Doyukai business lobby and previously as an adviser to former Prime Minister Yoshihide Suga.

(Reporting by David Dolan and Rocky Swift; Editing by Muralikumar Anantharaman)