TSURUHA Holdings, Inc.

TSURUHA Holdings, Inc.

TTSE:3391
2,182.50
JPY
-3.00
(-0.14%)
403.51BMarket Cap
Mar 25Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2026 Y
TTM
Revenue per Share
1,448.43
1,628.45
1,854.54
2,215.22
2,407.16
2,797.68
3,239.14
3,477.84
3,791.66
3,772.56
3,993.41
4,227.07
3,202.33
- -
Basic EPS, GAAP
56.84
61.05
72.47
81.15
96.91
103.05
102.77
115.37
108.4
88.12
103.98
89.45
94.2
- -
Free Cash Flow per Basic Share
48.1
38.05
77.76
176.52
-19.76
71.97
101.25
108.79
254.53
52.63
-106.55
68.23
123.9
- -
Dividend per Share
11.22
14.48
14.65
19.32
23.57
31.17
29.77
29.79
35.28
33.4
40
55.4
26.37
- -
Book Value per Share
437.41
490.17
556.18
637.77
694.51
796.48
852.97
971.02
1,049.18
1,072.24
1,145.41
1,158.02
1,933.47
- -
Tangible Book Value per Share
394.59
421.19
482
560.87
627.41
675.13
700.73
833.59
882.71
915.61
1,001.35
1,037.37
896.65
- -
Basic Weighted Avg Shares
237
239
237
238
240
241
242
242
242
243
243
243
453
243
Sales/Revenue/Turnover
343,019
388,465
440,427
527,508
577,088
673,238
782,447
841,036
919,303
915,700
970,079
1,027,462
1,450,585
- -
Operating Margin (%)
6.41
6.2
6.11
5.94
6.11
5.98
5.35
5.35
5.26
4.43
4.7
4.59
4.35
- -
Depreciation Expense
3,313
4,195
5,552
6,803
7,579
8,934
11,509
11,502
13,291
14,663
16,555
18,000
30,696
- -
Net Income, GAAP
13,461
14,563
17,210
19,323
23,232
24,798
24,824
27,899
26,283
21,388
25,258
21,743
42,670
- -
Effective Tax Rate (%)
41.18
40.53
41.36
37.11
32.65
34.97
35.44
30.58
35.87
35.15
34.09
36.12
31.62
- -
Profit Margin (%)
3.92
3.75
3.91
3.66
4.03
3.68
3.17
3.32
2.86
2.34
2.6
2.12
2.94
- -
Working Capital
49,980
46,514
47,130
55,621
65,016
54,450
58,047
75,502
99,566
114,901
110,973
92,120
131,843
- -
LT Debt
60
200
189
7,239
5,850
6,971
11,307
9,195
31,045
47,769
43,460
41,402
154,796
- -
Total Equity
104,137
120,054
131,791
155,287
170,339
203,987
220,212
250,932
276,526
284,044
304,142
305,295
895,705
- -
Return on Invested Capital (%)
12.62
12.11
11.87
12.74
13.36
12.91
11.64
12.13
10.39
7.84
8.42
8.23
5.77
- -
Return on Capital (%)
13.83
12.59
13.61
12.97
13.17
11.99
10.25
10.35
8.12
5.77
6.51
5.62
5.71
- -
Return on Common Equity (%)
13.98
13.16
13.83
13.6
14.55
13.82
12.47
12.65
10.74
8.31
9.38
7.77
7.37
- -

Capital Structure

JPY

•

in mil. unless spec.
Aug'26
Nov'26
May'26
ST Debt
- -
8,136
- -
LT Borrowings
- -
22,100
- -
LT Finance Leases
- -
16,338
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
243
243
243
Market Capitalization
429,832
403,513
550,437

Working Capital

JPY

•

in mil. unless spec.
Aug'26
Nov'26
May'26
Total Current Assets
- -
279,528
- -
Cash, Cash Equivalents & STI
- -
64,457
- -
Accounts Receivable, Net
- -
49,394
- -
Inventories
- -
148,187
- -
Total Current Liabilities
- -
185,987
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
8,136
- -
Deferred Revenue
- -
- -
- -

Growth Rates

JPY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
28.29%
42.75%
193.39%
Free Cash Flow
-57.34%
-34.6%
238.42%
Net Income, GAAP
12.78%
15.2%
96.25%
Sales/Revenue/Turnover
13.15%
12.39%
41.18%
Total Cash Common Dividend
14.45%
12.13%
-11.3%

Quarterly Revenue

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2026
- -
- -
- -
- -
1,450,585
2027
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2026
- -
- -
- -
- -
94.2
2027
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2026
- -
- -
- -
- -
26.37
2027
- -
- -
- -
- -
- -

Company Description

CEO
Jun Tsuruha
Full Time Employees
27,681
Sector
Retail trade
Industry
Drugstore chains
Address
20-1-21, Kita 24 Johigashi Sapporo HO Japan 065-0024
IPO Date
Nov 16, 2005
Business
Tsuruha Holdings Inc. operates primarily as a holding company managing subsidiaries that operate a wide network of drugstores across Japan. Its core products and services include retail sales of pharmaceuticals, prescription medicines, over-the-counter drugs, cosmetics, health foods, dietary supplements, daily necessities, and miscellaneous goods. The company also provides dispensing pharmacy services, pharmaceutical training and counseling, private brand product development and sales promotion, mail order services, insurance agency services, and real estate leasing related to its retail operations. Tsuruha manages its drugstore chains and dispensing pharmacies concentrated in key Japanese regions including Hokkaido, Tohoku, Kanto, Koshinetsu, Chugoku, Kyushu, and major prefectures like Shizuoka, Aichi, and Hiroshima. Founded in 1963 and headquartered in Sapporo, Japan, Tsuruha Holdings serves a broad customer base that includes retail consumers seeking healthcare and lifestyle products, as well as patients requiring pharmaceutical dispensing services. The company operates through several business divisions such as Drugstore, Dispensing, Nursing, Mail Order, and Group Support businesses, with a workforce exceeding 11,000 employees. In the most recent major developments, Tsuruha Holdings is undergoing a significant business integration with WELCIA HOLDINGS CO., LTD. via a stock swap scheduled for December 2025, followed by a tender offer completion by AEON CO., LTD. in January 2026, after which Tsuruha is expected to announce a new Medium-Term Management Plan outlining its post-integration strategy and growth objectives. This integration aims to expand its scale and competitiveness in Japan’s drugstore sector. Additionally, Tsuruha plans to launch new private brand products in spring 2026 in collaboration with Welcia. The company maintains a strong cash position to support its integration and continuous investments in store expansions and renovations. Tsuruha also backs AEON’s tender offer, positioning itself for a closer strategic alliance with AEON Group in its growth trajectory. Overall, Tsuruha Holdings is a leading player in Japan’s consumer health retail and pharmaceutical dispensing sectors, operating with a broad product portfolio and regional presence, and currently in a strategic phase of consolidation and expansion through partnership and integration with major industry players.