Welcia, Tsuruha Mull Merging Operations
17:26 JST, February 26, 2024
TOKYO, Feb. 26 (Jiji Press) — Welcia Holdings Co., Japan’s largest drugstore chain, and Tsuruha Holdings Inc., the second-largest player in the country, are considering integrating their operations, people familiar with the matter said Sunday.
The move is being led by Aeon Co., a Japanese retailer which owns over 50% of Welcia and about 10% of Tsuruha. A merger between Welcia and Tsuruha would create a drugstore alliance with annual sales of about ¥2 trillion.
Aeon is in talks with Hong Kong-based investment fund Oasis Management Co., which holds about 13% of Tsuruha, to buy the stake.
In January, Aeon said it would enter into exclusive talks with Oasis on the deal. If Aeon acquires all of Oasis’ holdings of Tsuruha shares, its stake in the drugstore chain will rise to about 26%.
"Business" POPULAR ARTICLE
-
Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
-
Japanese Seafood Exports to China Sink 57% in FY23; U.S. Becomes Largest Seafood Export Destination
-
70% of Japan Companies to Raise Pay Scales in FY 2024
-
48.6% of Global Patent Applications Related to All-Solid-State Batteries Came from Japanese Firms; Panasonic Tops List
-
Core Consumer Prices Rise 2.8% in Fiscal 2023
JN ACCESS RANKING
- Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
- Japanese Seafood Exports to China Sink 57% in FY23; U.S. Becomes Largest Seafood Export Destination
- 70% of Japan Companies to Raise Pay Scales in FY 2024
- 48.6% of Global Patent Applications Related to All-Solid-State Batteries Came from Japanese Firms; Panasonic Tops List
- Core Consumer Prices Rise 2.8% in Fiscal 2023