Japan drugstores plan mega-merger Oct 2021: Nikkei

Industry:    2020-01-31

Japanese drugstore company Matsumoto Kiyoshi Holdings and rival Cocokara Fine Inc plan to merge in October 2021, the Nikkei financial daily reported on Friday.

The two companies announced last August that they were discussing a possible merger, a move which would create the country’s biggest chain of discount pharmacies with around $10 billion in annual sales.

Matsumoto Kiyoshi will initially acquire 20% of Cocokara Fine shares, the Nikkei said.

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