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JAPAN'S AIN PHARMACIEZ TO MERGE WITH DRUG STORE CHAIN.
TOKYO, April 1 Asia Pulse - Ain Pharmaciez Inc. (TSE:9627) said Friday that it will merge with Imagawa Yakuhin, a drugstore chain based in Ibaraki Prefecture, effective Nov. 1.
The move is expected to result in a company that will have revenue exceeding industry leader Kraft Inc. (TSE:7440). Ain Pharmaciez, the surviving company, now plans to use the merger as an opportunity to expand its network of stores nationwide.
Kiichi Ohtani, president of Ain Pharmaciez, is set to become president of the new company. Each Imagawa Yakuhin share will be transferable to 5.4 Ain Pharmaciez shares.
Ain Pharmaciez's operations are located ...
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