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FamilyMart Uny stock soars on merger payoff hopes

Japanese convenience store chain hits all-time high, outperforming rivals

Convenience stores operating under the Circle K and Sunkus brands are being converted into FamilyMarts.

TOKYO -- FamilyMart Uny Holdings shares have climbed to a record high on expectations that profit will grow as a 2016 merger finally begins to bear fruit.

The stock climbed to 8,330 yen at one point Thursday, surpassing the previous all-time high marked in August 2016 -- right before FamilyMart and Uny Group Holdings merged to create Japan's No. 2 convenience store chain.

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