Matsumotokiyoshi, Cocokara Fine Agree to Merge in October 2021

Economy

Tokyo, Jan. 31 (Jiji Press)--Major Japanese drugstore chains Matsumotokiyoshi Holdings Co. <3088> and Cocokara Fine Inc. <3098> said Friday that they have reached an agreement to merge on Oct. 1, 2021.

The two firms will set up a new holding company to integrate operations.

The merged company will become the largest drugstore chain in Japan with about one trillion yen in annual sales and 3,000 stores, overtaking current leader Tsuruha Holdings Inc. <3391>.

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