Japan drugstores plan mega-merger in Oct 2021: Nikkei

[TOKYO] Japanese drugstore company MatsumotoKiyoshi 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 US$10 billion in annual sales.

MatsumotoKiyoshi will initially acquire 20 per cent of Cocokara Fine shares, the Nikkei said.

REUTERS