Matsumotokiyoshi Co. said Thursday it will acquire Tobu Railway Co.'s drug store chain in January as part of a strategy to open its outlets in railway properties.
The company said the price and date of the acquisition have yet to be worked out, but it will buy 85 percent of the Tobu Drug shares from Tobu Railway.
Tobu Drug will keep its name for the foreseeable future, and Matsumotokiyoshi hopes to expand its presence at railway station complexes and their vicinity by having an equity tieup with the Tobu Railway group.
Matsumotokiyoshi, with 615 drug stores, expects 8.2 billion yen net profit on revenue of 280 billion yen for the year through March.