KUALA LUMPUR: Tiger Synergy Bhd (TSB) and Japan’s OHGA Pharmacy Co Ltd (OPCL) will jointly set up a hub in Malaysia for its pharmacy franchise expansion into ASEAN.
Both parties have set a target of 200 OHGA Pharmacy retail outlets openings in ASEAN over the next three years.
TSB managing director Shirley Tan Lee Chin said the company looks forward to collaborating with OPCL, which has more than a decade.
“The initial plan of our collaboration is to open OHGA Pharmacy retail outlets in Malaysia, which will put the country as the hub for its expansion into ASEAN,” she said in a statement today.
TSB had on 16 September 2021 signed a memorandum of understanding (MoU) with Razally Affandy Abdul Rahim to purchase a majority interest of OHGA Yakkyoku (Malaysia) Sdn Bhd (OYSB), a domestic-based company involved in the wholesale of pharmaceutical and medical goods.
OYSB also signed a pharmaceutical master licence agreement with OHGA Corporation Co Ltd (OCCL), a subsidiary of OPCL, to supply its products in and out of Japan.
“Our collaboration took advantage of this shifting trend and the ageing population in ASEAN.
“Furthermore, with OPCL’s experience in Japan where there is the highest density of pharmacists and drugstores among Organisation for Economic Co-operation and Development (OECD) countries, this will help to improve the overall experience at pharmacy retail outlets,” Shirly said.
The collaboration comes when there is a boom in health product sales in Malaysia and ASEAN as consumers become more health-conscious following the Covid-19 pandemic.
By bringing the OPCL franchise into Malaysia and ASEAN, TSB aims to rebrand pharmacists as a one-stop-shop for consumers who offer various products such as medicines, health foods, cosmetics, and daily necessities.
With OPCL’s proven track record in Japan and TSB’s vast network in Malaysia and ASEAN, the collaboration aims to disrupt the retail outlet stores.
Angkasa Koperasi Kebangsaan Malaysia Bhd (Angkasa) and Terajux Holdings Sdn Bhd have expressed interest in TSB’s strategic partner, relying on its vast network of cooperatives in Malaysia.
OPCL’s strong track record in Japan is seen by its history of more than a decade.
It currently runs 109 pharmacists and drugstores in Japan, predominantly in Fukuoka, Osaka, and has annual sales of more than JPY26 billion (around RM1 billion).
With the collaboration with TSB, OPCL is set to expand beyond Japan for the first time, bringing its expertise in pharmaceutical products, dietitians and consumer products into Malaysia.
Both the companies are excited to bring together innovation that will accelerate the growth of the retail pharmaceutical industry.
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