Kyushu Railway Company has sold 51% of the shares of JR Kyushu Drug Eleven Co.,Ltd. to Tsuruha Holdings Inc
Tokyo – Frontier Management Inc. (CFI Japan) is pleased to announce that they acted as financial advisor to Kyushu Railway Company in the sale of 51% of the shares of JR Kyushu Drug Eleven Co.,Ltd. to Tsuruha Holdings Inc. After this transfer, JR Kyushu will continue to hold 49% of the shares of Drug Eleven.
Drug Eleven operates in accordance with its corporate philosophy of finding joy in the health, beauty, and satisfaction of customers and contributing to local communities with a feeling of gratitude. On that basis, Drug Eleven has developed the drugstore business, principally in the Kyushu and Okinawa regions, as a core subsidiary in the JR Kyushu Group’s Retail and Restaurant segment. In particular, Drug Eleven has rolled out stores in a variety of formats in line with local community characteristics and customer usage scenarios.
TSURUHA HOLDINGS INC. is a holding company which manages subsidiaries that operate drug stores in Hokkaido and the Tohoku area. The Company’s product line includes drugs, cosmetics, and household utensils.
The transaction closed in May 2020.
Related
Our latest transactions
Energy, Environment & Natural Resources
has raised capital from
Transaction details
AmpVolts, an EV charging provider, has raised funding from the State Bank of India, one of the largest and oldest public sector bank in India
Software & IT Services
has acquired a stake in
Transaction details
Ava10 has acquired a stake in GR Parceria, a logtech platform focused on security and logistics efficiency
Business Services
and their subsidiary
have been acquired by
Transaction details
IPS Gebäudetechnik AG and its subsidiary Berger Klima Biel AG, Swiss specialists in ventilation technology have been acquired by bluu unit GmbH
