TOKYO -- Japan's two biggest drugstore chains, Welcia and Tsuruha, announced plans to merge with major retailer Aeon on Wednesday, aiming to create the world's fifth-largest drugstore company and tap into aging populations in China and Southeast Asia.
"We will rapidly expand into Asia by making maximum use of the Aeon Group's infrastructure," said Welcia Holdings President Tadahisa Matsumoto at a news conference with the leaders of Tsuruha and Aeon in Sapporo on Wednesday.
