TSURUHA Holdings Inc (JP:3391)
:3391
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TSURUHA Holdings
(3391)
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Rating:62Neutral
Price Target:
¥2,385.00
▲(8.36% Upside)
Action:ReiteratedDate:04/10/26
The score is driven primarily by solid top-line growth, offset by pressured earnings, a 2026 step-up in leverage and lower ROE, and historically volatile cash flow despite a strong 2026 improvement. Technicals remain a headwind with the stock trading below key moving averages, while valuation and dividend yield are broadly supportive but not standout.
Positive Factors
Top-line Growth
Sustained revenue expansion culminating in a ~32% surge in 2026 indicates strong consumer demand and effective store/merchandising execution. Durable top-line momentum supports capacity to invest in network, procurement scale, and long-term profitability if margin pressures are addressed.
Negative Factors
Earnings Pressure
Earnings decline amid a revenue surge implies margin compression from higher costs, integration or SG&A increases, or lower-margin mix. If operating leverage fails to convert sales into profits, long-term ROE and shareholder returns may remain constrained despite top-line strength.
Read all positive and negative factors
Positive Factors
Negative Factors
Top-line Growth
Sustained revenue expansion culminating in a ~32% surge in 2026 indicates strong consumer demand and effective store/merchandising execution. Durable top-line momentum supports capacity to invest in network, procurement scale, and long-term profitability if margin pressures are addressed.
Read all positive factors
TSURUHA Holdings (3391) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥922.72B
Dividend Yield1.72%
Average Volume (3M)886.23K
Price to Earnings (P/E)19.4
Beta (1Y)0.39
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees11,620
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)33.82
Shares Outstanding454,340,480
10 Day Avg. Volume988,040
30 Day Avg. Volume886,226
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)0.88
Price to Sales (P/S)0.53
P/FCF Ratio12.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,700.00Price Target Upside22.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)104.7
Revenue Forecast (FY)¥2.54T
TSURUHA Holdings Business Overview & Revenue Model
Company Description
Tsuruha Holdings Inc. operates drugstores in Japan. It sells pharmaceutical and cosmetic products. As of October 15, 2021, the company operated 2,448 stores in Japan and 22 stores in Thailand. The company was founded in 1929 and is headquartered i...
How the Company Makes Money
TSURUHA Holdings primarily makes money by operating drugstore retail chains and earning revenue from in-store (and where applicable, online) sales to consumers. Its core revenue streams are (1) sales of OTC drugs and healthcare-related products, (...
TSURUHA Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Feb 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.10T | 1.45T | 1.07T | 1.03T | 970.08B | 915.70B |
| Gross Profit | 334.35B | 443.99B | 326.40B | 312.28B | 293.36B | 271.48B |
| EBITDA | 65.07B | 93.73B | 67.62B | 65.15B | 62.13B | 55.23B |
| Net Income | 15.39B | 42.67B | 21.81B | 21.74B | 25.26B | 21.39B |
Balance Sheet | ||||||
| Total Assets | 583.36B | 1.65T | 583.36B | 549.55B | 539.83B | 562.36B |
| Cash, Cash Equivalents and Short-Term Investments | 92.74B | 202.13B | 92.74B | 58.69B | 79.05B | 127.03B |
| Total Debt | 63.76B | 208.49B | 63.76B | 50.04B | 54.86B | 55.52B |
| Total Liabilities | 276.99B | 752.27B | 276.98B | 244.25B | 235.68B | 278.31B |
| Stockholders Equity | 282.10B | 875.82B | 282.10B | 281.58B | 278.35B | 260.31B |
Cash Flow | ||||||
| Free Cash Flow | 44.53B | 59.69B | 44.53B | 19.97B | -23.90B | 15.11B |
| Operating Cash Flow | 64.64B | 84.58B | 64.64B | 51.96B | 804.00M | 35.83B |
| Investing Cash Flow | -19.71B | -19.79B | -19.71B | -36.07B | -29.77B | -28.41B |
| Financing Cash Flow | -10.87B | -39.05B | -10.87B | -36.26B | -19.00B | 3.07B |
TSURUHA Holdings Technical Analysis
Negative
2201.00
Price Trends
2434.21
Negative
2566.99
Negative
2471.53
Negative
Market Momentum
-105.49
Positive
30.98
Neutral
5.65
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3391, the sentiment is Negative. The current price of 2201 is below the 20-day moving average (MA) of 2343.98, below the 50-day MA of 2434.21, and below the 200-day MA of 2471.53, indicating a bearish trend. The MACD of -105.49 indicates Positive momentum. The RSI at 30.98 is Neutral, neither overbought nor oversold. The STOCH value of 5.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3391.
TSURUHA Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥207.67B | 12.71 | ― | 2.35% | 7.55% | 16.01% | |
69 Neutral | ¥452.49B | 14.05 | 11.37% | 3.04% | 6.32% | 8.19% | |
67 Neutral | ¥358.17B | 16.82 | ― | 0.41% | 15.81% | 27.05% | |
66 Neutral | ¥654.76B | 14.44 | 15.71% | 0.96% | 21.81% | 67.76% | |
62 Neutral | ¥922.72B | 19.41 | ― | 1.72% | ― | ― | |
60 Neutral | ¥503.87B | 16.97 | ― | 0.93% | 3.73% | 18.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JP:3391
TSURUHA Holdings
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TSURUHA Holdings Corporate Events
TSURUHA Sets 2029 Profitability Targets in New Medium-Term Plan
Apr 9, 2026
TSURUHA Holdings has unveiled a new Medium-Term Management Plan covering the fiscal years ending February 2027 to February 2029, positioning it as the first phase in building a foundation for long-term value creation. The company aims to evolve it...
Tsuruha Books ¥10.8 Billion Impairment on Underperforming Stores
Apr 9, 2026
Tsuruha Holdings will book an extraordinary loss of ¥10.8 billion for the fiscal year ended February 28, 2026, after recognizing impairment on fixed assets tied to underperforming stores whose invested amounts are deemed unlikely to be recove...
TSURUHA Holdings Lifts Sales and Cash Position, Signals Mixed Profit Outlook for 2027
Apr 9, 2026
TSURUHA Holdings reported consolidated net sales of ¥1.45 trillion and net income attributable to owners of the parent of ¥42.67 billion for the fiscal year ended February 28, 2026, with EBITDA at ¥93.26 billion and operating income...
TSURUHA Holdings Posts Steady Sales Growth on Strong Dispensing Business After Integration
Mar 12, 2026
TSURUHA Holdings reported February 2026 monthly flash sales showing continued year-on-year growth for the integrated Tsuruha Group, with all-store net sales and existing-store net sales both rising and average spending per customer increasing, par...
TSURUHA Holdings Posts January Sales Growth After Welcia Integration
Feb 12, 2026
TSURUHA Holdings reported its January 2026 monthly sales flash data for the combined group following its management integration, showing year-on-year growth in both existing and all-store net sales, supported by higher average spending per custome...
TSURUHA Holdings Agrees Share Buyback Price for Dissenting Shareholders After Welcia Integration
Jan 26, 2026
TSURUHA Holdings has completed a key step in its integration with Welcia Holdings by agreeing on the purchase price for shares subject to buyback demands from dissenting shareholders. Following the approval and effectiveness of a share exchange th...
TSURUHA Holdings Confirms Interim Audit Completion for Strong Nine-Month Results
Jan 14, 2026
TSURUHA Holdings has confirmed that its independent auditor has completed the interim review of the consolidated financial results for the nine months ended November 30, 2025, with no changes required to the figures disclosed on January 8, 2026. F...
TSURUHA Holdings Posts Steady December Sales as Integrated Drugstore–Pharmacy Group
Jan 13, 2026
TSURUHA Holdings reported its December 2025 monthly sales flash figures, its first in a revised format reflecting the management integration and providing separate disclosure for drugstore merchandise and dispensing pharmacy sales. Across the inte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.