Aeon Co. Plans to Merge Japan Drugstore Unit Welcia with Rival Tsuruha
By Kosaku Narioka
Aeon Co. plans to merge its Japanese drugstore unit Welcia Holdings with rival Tsuruha Holdings in a bid to solidify its presence in the domestic market and expand its drugstore operations in Southeast Asia.
The three companies said Wednesday that they aim to finalize merger terms by the end of 2027.
The companies said the possible business integration is aimed at improving health and wellness of consumers in Japan, the Asean region and other markets abroad.
As part of the merger process, Aeon agreed to acquire an additional 14% stake in Tsuruha from Hong Kong-based asset manager Oasis Management for 102.3 billion yen ($679.7 million). Aeon currently holds a 14% stake in Tsuruha.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
February 28, 2024 04:35 ET (09:35 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations