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Japan drugstore chains ailing as tourists turn frugal

Drugstore chain Matsumotokiyoshi is gearing up to serve foreign shoppers.

TOKYO -- Thriftier spending habits by foreign tourists visiting Japan are weighing down earnings at three of the nation's biggest drugstore chains.

Matsumotokiyoshi Holdings, Sundrug and Cocokara Fine all undershot sales outlooks for the six months ended September, reveal earnings statements released through Friday. Demand by foreign tourists has peaked amid the strong yen, forcing all three to go back to the drawing board.

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