MatsumotoKiyoshi Holdings in talks with rival Cocokara Fine to form Japan’s largest chain of discount pharmacies

MatsumotoKiyoshi Holdings in talks with rival Cocokara Fine to form Japan’s largest chain of discount pharmacies

MatsumotoKiyoshi Holdings has announced it is in merger talks with competitor Cocokara Fine in a move that would form Japan’s largest chain of discount pharmacies, according to a report by Reuters.

Shares in Cocokara Fine jumped 9 percent following the news of the possible merger, with the combined company set to generate annual sales of nearly $10 billion, beating industry leaders Welcia Holdings and Tsuruha Holdings.

While both companies declined to comment on specific details of the talks, it is known that Cocokara Fine had previously courted a link with drug store Sugi Holdings, however, it was turned down in favor of the offer by MatsumotoKiyoshi.

Taking to a statement, Cocokara said, “It will not be easy to overcome business challenges on our own, and therefore it is appropriate for us to merge.
“By combining with MatsumotoKiyoshi Holdings … there is a chance of creating major synergies such as improving work efficiency and developing private brand products.”

Leave a reply

Your email address will not be published. Required fields are marked *