By Kosaku NariokaAeon Co. said it is considering a merger of its Japanese drugstore unit Welcia Holdings with domestic rival Tsuruha Holdings, a move that would create a giant force in a fragmented market. Japanese retailer Aeon, the parent of Welcia, said Monday that no decision has been made on the possible merger. Tsuruha Holdings shares were recently 10% higher, Welcia Holdings shares were recently up 14% and Aeon shares rose 1.4%. Aeon made the comments following local media reports of the potential merger over the weekend. Aeon in January said it was in talks with Hong Kong-based asset manager Oasis Management to acquire shares of Tsuruha as part of efforts to strengthen its existing tie-up with the Japanese drugstore operator.

Source: Wall Street Journal February 26, 2024 02:42 UTC