TOKYO : The prospect of more consolidation among Japan's fragmented drugstore industry is likely to boost the longer term value of major players, the Japan chief of Orbis Investment Management said.The comments from Orbis' Tsukasa Tokikuni show how the $63 billion industry has become increasingly attracti
TOKYO : The prospect of more consolidation among Japan's fragmented drugstore industry is likely to boost the longer term value of major players, the Japan chief of Orbis Investment Management said.
Market expectations for more mergers in the sector have grown since Hong Kong-based activist investor Oasis Management launched a campaign against Tsuruha Holdings, calling for a board reshuffle at one of the largest chains. He pointed out that Tsuruha, which has grown through multiple acquisitions, is particularly in a position to benefit from possible consolidation because its track record of successful mergers makes the company seen as a feasible suitor.
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