Recently, according to information from informed sources cited by media, Japan’s largest drugstore chain, Welcia Holdings Co., and Japan’s second-largest drugstore, Tsuruha Holdings Inc., are considering a business integration.
The initiative is being led by Japanese retailer Aeon Co. The company holds over 50% of shares in Welcia and approximately 13% of shares in Tsuruha. The merger of Welcia and Tsuruha would create a drugstore alliance with an annual sales revenue of approximately 2 trillion yen, surpassing the third-ranked Matsuki Yokokokara & Co. in scale.
Additionally, in January of this year, Aeon stated that it was in negotiations with Hong Kong investment fund Oasis Management Co. to purchase their approximately 13% stake in Tsuruha. It has been reported that the price and other terms are undergoing final adjustments, and Aeon will lead the integration of the two companies after acquiring Tsuruha’s shares.
In response to this, Tsuruha Holdings Inc. issued a statement stating that the media reports were not made public by the company, and while the company has been continuously considering various measures to enhance corporate value, no decisions have been made at present. Welcia responded to the media by stating that the report was not released by the company, and no decisions have been made at this time.
