According to reports, Japanese retailer Aeon Corporation has announced exclusive negotiations with Oasis Management regarding the acquisition of TSURUHA Drug. If Oasis agrees to sell its approximately 13% stake, Aeon may consider TSURUHA Drug as its affiliated company under the equity method
Public information shows that TSURUHA Drug was founded in 1929 and has nearly 2,600 stores, including 18 overseas. Additionally, it has a mini-program called “TSURUHA Drug Direct Shipping” in China, where consumers can directly purchase its store products.
According to the previously released midterm management plan, the company aims to expand its sales network to 2,750 stores by May 2025, with revenues reaching 1.06 trillion yen ($7.19 billion). According to Euromonitor International, in terms of market share, TSURUHA is the second-largest drugstore chain in Japan.
Previously, when news of Oasis Management considering selling TSURUHA Drug emerged, some foreign media outlets suggested that the valuation of this Japanese pharmacy chain could reach approximately 602.6 billion yen ($4 billion) or even higher. Private equity firms such as Bain Capital and KKR have also expressed interest in the company.
