Aeon Co. Mulls Merger of Drugstore Unit Welcia With Domestic Rival Tsuruha

By Kosaku Narioka

Aeon Co. said it is considering a merger of its Japanese drugstore unit Welcia Holdings with domestic rival Tsuruha Holdings.

Japanese retail giant Aeon, the parent of Welcia, said Monday that no decision has been made on the possible merger.

Aeon made comments following local media reports of the potential merger over the weekend.

Aeon said in January that it was in talks with Hong Kong-based asset manager Oasis Management to acquire shares of Tsuruha as part of its efforts to fortify its existing tie-up with the Japanese drugstore operator.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

02-25-24 2109ET