1. Japan Stocks

  2. •

    Retail trade

  3. •

    Drugstore chains
Medical System Network Co., Ltd.

Medical System Network Co., Ltd.

TTSE:4350
514.00
JPY
-2.00
(-0.39%)
15.78BMarket Cap
Nov 10Next Earn
Medical System Network Co., Ltd.
TSE:4350
(Tokyo Stock Exchange)

Recent

price

514.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
JPY
1,790.94
- -
2,111.3
2,746.21
3,162.53
3,065.41
3,001.33
3,166.38
3,235.12
3,463.98
3,439.14
3,536.11
3,630.1
3,838.54
4,189.48
4,526.44
- -
Revenue per Share
38.56
- -
29.12
27.74
37.05
60.11
19.29
34.43
15.22
-29.46
72.51
79.35
53.35
61.89
43.2
36.64
- -
Basic EPS, GAAP
33.11
- -
82.9
-21.5
57.98
86.04
24.38
82.85
-11.07
91.31
121.26
62.38
111.54
186.83
47.03
-215.83
- -
Free Cash Flow per Basic Share
4.49
- -
7.73
8.26
7.95
8
10.03
10.01
10.01
10.04
10.03
10.08
13.09
12.15
12.15
12.19
- -
Dividend per Share
187.98
- -
221.14
212.64
242.67
330.85
342.13
349.88
354.2
310.02
370.3
439.65
478.85
519.01
556.27
591.31
- -
Book Value per Share
-3.89
- -
-97.07
-306.41
-324.68
-124.42
-125.07
-147.61
-180.18
-171.03
-79.79
16.6
87.61
133.05
217.29
266.42
- -
Tangible Book Value per Share
26
26
26
24
24
29
30
30
30
30
30
30
30
30
29
29
29
Basic Weighted Avg Shares
46,508
- -
54,827
66,182
75,548
87,715
88,865
93,977
98,232
105,241
104,257
106,685
109,551
115,361
122,387
132,186
- -
Sales/Revenue/Turnover
4.86
- -
3.73
3.16
3.5
4.31
2.38
3.37
1.45
1.53
3.29
3.61
2.89
3.32
2.58
2.51
- -
Operating Margin (%)
971
- -
1,328
1,746
2,058
2,279
2,603
2,547
2,771
3,028
2,995
2,855
2,957
3,163
3,414
3,417
- -
Depreciation Expense
1,001
- -
756
668
885
1,720
571
1,022
462
-895
2,198
2,394
1,610
1,860
1,262
1,070
- -
Net Income, GAAP
41.1
- -
53.35
60.59
57.32
45.96
66.21
55.43
67.65
4,172.73
44.59
40.48
46.01
45.75
52.28
56.31
- -
Effective Tax Rate (%)
2.15
- -
1.38
1.01
1.17
1.96
0.64
1.09
0.47
-0.85
2.11
2.24
1.47
1.61
1.03
0.81
- -
Profit Margin (%)
-3,014
- -
-6,104
-13,939
-10,602
-10,278
-5,822
-3,765
-2,789
-2,718
-6,105
-1,734
-1,084
-2,440
-1,750
-2,792
- -
Working Capital
7,365
- -
8,758
10,948
15,390
14,859
20,186
26,329
29,739
28,653
22,348
23,631
24,139
23,063
23,152
21,366
- -
LT Debt
5,263
- -
6,236
5,352
6,135
10,265
10,644
10,583
10,761
9,419
11,189
13,285
14,488
15,217
16,344
17,411
- -
Total Equity
8.77
- -
- -
3.27
3.69
6.35
2.09
3.5
0.96
-134.53
4.1
5.17
3.83
4.57
3.26
2.82
- -
Return on Invested Capital (%)
6.68
- -
- -
3.06
3.07
5.46
1.72
2.83
1.15
-21.91
5.11
5.79
3.96
4.49
3
2.33
- -
Return on Capital (%)
22.58
- -
- -
12.35
16.27
22.06
5.73
9.87
4.33
-8.87
21.36
19.6
11.62
12.56
8.03
6.38
- -
Return on Common Equity (%)

Capital Structure

JPY

•

in mil. unless spec.
Sep'26
Mar'26
Jun'27
ST Debt
9,196
16,303
- -
LT Borrowings
15,799
16,150
- -
LT Finance Leases
- -
5,216
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
29
29
29
Market Capitalization
13,913
15,783
13,825

Working Capital

JPY

•

in mil. unless spec.
Sep'26
Mar'26
Jun'27
Total Current Assets
22,494
31,800
- -
Cash, Cash Equivalents & STI
6,464
7,743
- -
Accounts Receivable, Net
7,556
14,949
- -
Inventories
7,294
7,467
- -
Total Current Liabilities
26,769
34,592
- -
Payables & Accruals
- -
- -
- -
ST Debt
9,196
16,303
- -
Deferred Revenue
- -
- -
- -

Growth Rates

JPY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.79%
9.35%
6.53%
Free Cash Flow
-137.42%
-107.48%
-558.73%
Net Income, GAAP
-73.76%
-11.13%
-15.21%
Sales/Revenue/Turnover
4.22%
4.88%
8.01%
Total Cash Common Dividend
- -
- -
0.28%

Quarterly Revenue

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
122,387
2026
- -
- -
- -
- -
132,186
2027
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
43.2
2026
- -
- -
- -
- -
36.64
2027
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
12.15
2026
- -
- -
- -
- -
12.19
2027
- -
- -
- -
- -
- -
Similar Companies
CVS Health Corporation (NYSE:CVS)
MatsukiyoCocokara & Co. (TSE:3088)
Guardian Pharmacy Services, Inc. (NYSE:GRDN)
TSURUHA Holdings, Inc. (TSE:3391)
MedPlus Health Services Ltd. (NSE:MEDPLUS)
Raia Drogasil S.A. (B3:RADL3)
Business
Medical System Network Co., Ltd. (TSE: 4350) operates as a pharmaceutical network platform supporting community dispensing pharmacies across Japan; it manages the Nanohana Pharmacy chain and provides comprehensive services including pharmaceutical procurement, supply chain management encompassing wholesale price negotiation, drug ordering, and payment settlement; dispensing pharmacy systems development and sales; generic pharmaceuticals manufacturing and marketing through subsidiary Feldsenf Pharma Co., Ltd.; digital transformation support via PharmaShift Co., Ltd. with tools like the LINE-based Tsunagaru Pharmacy service; and pharmaceutical logistics via Medi Logi Net. The Community Pharmacy Network segment, its primary revenue source at 95% of FY03/25 sales of JPY122.4 billion, encompasses directly operated pharmacies, affiliated networks, and support businesses; Leasing and Facility-related offers building leasing, pharmacy location development, and elderly serviced housing; Meal Catering provides contracted food services to hospitals and welfare facilities; and Other includes home-visit nursing care. Founded in 1999 and headquartered in Sapporo, Hokkaido, the company serves pharmacies, hospitals, clinics, and wholesalers nationwide, with its pharmaceutical network expanding to 11,511 members (469 directly operated and 11,042 affiliates) as of September 2025. In October 2025, Medical System Network announced its long-term Machino Akari Vision 2035, targeting operating profit of JPY10.0 billion by FY03/35 (from JPY3.1 billion in FY03/25), ROE of 12-15% (from 8%), support for 45,000 pharmacies (from over 15,000), and market coverage of 75-80%; it maintains FY03/26 forecasts of sales JPY125.5 billion and operating profit JPY3.4 billion amid 1H FY03/26 results showing sales up 6.9% year-over-year; earlier in September 2025, it addressed a dispensing fee miscalculation issue from FY03/21-FY03/25, recording minimal earnings impact.