Aeon to acquire Tsuruha Holdings, plans Welcia HD integration

Aeon (TSE: 8267) announced plans to acquire Tsuruha Holdings in a share exchange transaction, aiming to integrate it with Welcia Holdings and strengthen its drugstore business. Tsuruha HD will become a wholly owned subsidiary by July 1, 2025, subject to shareholder approval at Tsuruha's May 2025 general meeting. Aeon's intention is to streamline its operations and enhance competitiveness in the drugstore and health segments. The deal involves Aeon acquiring all outstanding shares of Tsuruha at a rate of 0.65 Aeon shares per Tsuruha share, valuing the company at JPY 471,726 million. Tsuruha shares will be delisted from the TSE on June 27.