Mass market drugstore operator, Matsumotokiyoshi Holdings, has announced it will acquire a minority stake in Cocokara Fine.

Matsumotokiyoshi Holdings will acquire a 20% share of common stock in Cocokara Fine through the third-party allotment of shares, making Cocokara Fine an affiliate.

DC Advisory Japan acted as the buy-side financial advisor for Matsumotokiyoshi Holdings.

The acquisition will aim to attain domestic sales of ¥1 trillion, operating 3,000 stores in Japan to become the number one company in the Asian beauty and healthcare space.