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Japan-Update

Japan drugstores log record Q1 profit

Chains adjust to drug price cuts, add in-store pharmacies

TOKYO -- Japan's five major drugstore chains each booked a record first-quarter net profit as cheap food products attracted customers and pharmacy operations rallied from lower drug prices.

Sundrug, Matsumotokiyoshi Holdings, Welcia Holdings, Sugi Holdings and Cocokara Fine each boosted sales thanks to the addition of 10 to 20 new locations by each brand. Sundrug and Matsumotokiyoshi also renovated 30 stores each, improving their offerings of frozen food and daily necessities.

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