Japan’s Biggest Drug Store Chains Consolidate Business
This article was originally published in PharmAsia News
Japanese major drug store chain, Saitama-based Welcia Kanto, will merge with Takada Yakkyoku, a Shizuoka-based drug store operator, to set up a holding company in September. According to February 2007 financial results, Welcia reported sales of ¥87 billion ($296.1 million) with 297 stores located in Saitama prefecture surrounding the Kanto area. Centered in Shizuoka prefecture, Takada Yakkyoku reported sales of ¥29.5 billion (September 2007 results) and 98 drug stores. Japanese drug store businesses are dominated by big holding companies such as Tsuruha Holdings, Matumoto Kyoshi and Allied Hearts Holdings. Competition is expected to increase as supermarkets and convenience stores begin to sell drugs. To gain a competitive edge, mid-sized companies are expanding reach through mergers and acquisitions and setting up holding companies. (Click here for more - Japanese language)
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