Tsuruha Shareholders Meeting Narrowly Passes Proposal to Merge with Welcia; Investment Fund Orbis, Which Opposed the Merger, Also Hints at a Buyout Request

The conflict with the major shareholder, which had lasted for about a month and a half, ended with the company's argument being accepted. On May 26, Tsuruha Holdings (hereinafter referred to as Tsuruha), a major drugstore chain, held a regular stock sale at the Grand Mercure Sapporo Odori Park hotel in Sapporo city.