Pan Pacific International Holdings (PPIH), the owner of discount chain Don Quijote, agreed on 6 April to acquire Olympic Group, a mid-sized supermarket and discount store operator centred on Tokyo, through a share exchange.
Why Pan Pacific International Holdings Corporation is buying Olympic Group Corporation
PPIH said about two-thirds of Olympic's stores are in Tokyo, with limited overlap with its own outlets, and that converting them to Don Quijote, MEGA Don Quijote and other formats would help its plan to open about 250 stores over ten years. It also expects to combine its price competitiveness in food and daily goods with Olympic's strength in non-food categories.
Deal terms and financing
Olympic shareholders receive 1.18 PPIH shares per share, with PPIH using about 27.1m treasury shares. PPIH used a simplified share exchange that did not require approval by its own shareholders; no cash value was stated.
Regulatory approvals and timing
The exchange was scheduled to take effect on 1 July 2026 after Olympic's shareholder meeting and competition clearance. PPIH announced on 1 July 2026 that the exchange had become effective and Olympic was a wholly owned subsidiary.
Market context
Olympic Group reported net sales of ¥91.6bn and an operating profit of ¥51m for the year to February 2025, against PPIH's net sales of ¥2.25tn for the year to June 2025. Jiji Press reported that Olympic's profitability had worsened because of soaring material costs.
