Japanese drugstores MatsumotoKiyoshi and CocoKara agree to full merger

Japanese drugstore firms MatsumotoKiyoshi Holdings and Cocokara Fine Inc said on Friday they agreed to merge, after forming a partial alliance last year.

MatsumotoKiyoshi had bought 20% of Cocokara Fine for roughly $350 million last year, aiming for a greater scale to cope with fierce price competition and rising labour costs.

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