TSURUHA Holdings Inc (JP:3391)
:3391
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TSURUHA Holdings
(3391)
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Rating:67Neutral
Price Target:
¥2,657.00
▲(20.72% Upside)
Action:ReiteratedDate:11/22/25
TSURUHA Holdings' overall stock score is driven primarily by strong technical indicators suggesting bullish momentum. However, the financial performance indicates challenges in revenue growth and profitability, and the valuation suggests the stock is overvalued. The high dividend yield is a positive factor, providing a cushion against the high P/E ratio.
Positive Factors
Healthy Balance Sheet
Moderate leverage and a nearly 50% equity ratio provide durable financial flexibility, lowering refinancing risk and enabling investment or M&A without overreliance on debt. A stable ROE around 7.7% shows the business can generate reasonable returns on shareholder capital over time.
Negative Factors
Declining Revenue Growth
Sustained negative revenue growth undermines scale advantages in procurement and store economics, constrains top-line-driven margin recovery, and limits the company's ability to fund strategic initiatives. Without revenue stabilization, long-term earnings growth is at risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Healthy Balance Sheet
Moderate leverage and a nearly 50% equity ratio provide durable financial flexibility, lowering refinancing risk and enabling investment or M&A without overreliance on debt. A stable ROE around 7.7% shows the business can generate reasonable returns on shareholder capital over time.
Read all positive factors
TSURUHA Holdings (3391) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.10T
Dividend Yield1.72%
Average Volume (3M)886.23K
Price to Earnings (P/E)25.3
Beta (1Y)0.43
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees11,620
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)27.09
Shares Outstanding454,309,000
10 Day Avg. Volume988,040
30 Day Avg. Volume886,226
Financial Highlights & Ratios
PEG Ratio112.80
Price to Book (P/B)1.95
Price to Sales (P/S)0.51
P/FCF Ratio12.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,550.00Price Target Upside15.86% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)106.22
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
65
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | May 2024 | May 2023 | May 2022 | May 2021 | May 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.07T | 1.03T | 970.08B | 915.70B | 919.30B |
| Gross Profit | 326.40B | 312.28B | 293.36B | 271.48B | 266.72B |
| EBITDA | 67.62B | 65.15B | 62.13B | 55.23B | 61.67B |
| Net Income | 21.81B | 21.74B | 25.26B | 21.39B | 26.28B |
Balance Sheet | |||||
| Total Assets | 583.36B | 549.55B | 539.83B | 562.36B | 537.03B |
| Cash, Cash Equivalents and Short-Term Investments | 92.74B | 58.69B | 79.05B | 127.03B | 116.53B |
| Total Debt | 63.76B | 50.04B | 54.86B | 55.52B | 38.74B |
| Total Liabilities | 276.98B | 244.25B | 235.68B | 278.31B | 260.50B |
| Stockholders Equity | 282.10B | 281.58B | 278.35B | 260.31B | 254.62B |
Cash Flow | |||||
| Free Cash Flow | 44.53B | 19.97B | -23.90B | 15.11B | 62.36B |
| Operating Cash Flow | 64.64B | 51.96B | 804.00M | 35.83B | 76.46B |
| Investing Cash Flow | -19.71B | -36.07B | -29.77B | -28.41B | -30.20B |
| Financing Cash Flow | -10.87B | -36.26B | -19.00B | 3.07B | 13.21B |
TSURUHA Holdings Technical Analysis
Neutral
2201.00
Price Trends
2492.84
Negative
2624.10
Negative
2473.92
Negative
Market Momentum
-46.17
Negative
52.41
Neutral
80.90
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3391, the sentiment is Neutral. The current price of 2201 is below the 20-day moving average (MA) of 2377.10, below the 50-day MA of 2492.84, and below the 200-day MA of 2473.92, indicating a neutral trend. The MACD of -46.17 indicates Negative momentum. The RSI at 52.41 is Neutral, neither overbought nor oversold. The STOCH value of 80.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | ¥639.12B | 23.29 | 15.71% | 0.96% | 21.81% | 67.76% | |
75 Outperform | ¥204.51B | 13.66 | ― | 2.35% | 7.55% | 16.01% | |
69 Neutral | ¥459.63B | 14.05 | 11.37% | 3.04% | 6.32% | 8.19% | |
67 Neutral | ¥1.10T | 25.31 | ― | 1.72% | ― | ― | |
67 Neutral | ¥353.78B | 20.79 | ― | 0.41% | 15.81% | 27.05% | |
60 Neutral | ¥522.41B | 22.79 | ― | 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
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TSURUHA Holdings Corporate Events
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...
TSURUHA Revamps Shareholder Benefits After Nationwide Drugstore Integration
Jan 8, 2026
TSURUHA Holdings has overhauled its shareholder benefit program following its December 2025 business integration with Welcia Holdings, which created a nationwide drugstore and dispensing pharmacy network. The revised scheme broadens eligibility to...
TSURUHA Holdings to Buy Treasury Shares Created by Welcia Share Exchange
Jan 8, 2026
TSURUHA Holdings has moved to purchase 2,317 of its own common shares generated as fractional shares in connection with its share exchange that made Welcia Holdings Co., Ltd. a wholly owned subsidiary as of December 1, 2025. The company will acqui...
TSURUHA to Book ¥10.6 Billion Extraordinary Gain from WELCIA Integration
Jan 8, 2026
TSURUHA Holdings will record approximately ¥10.6 billion in extraordinary income in the fourth quarter of the fiscal year ending February 28, 2026, stemming from a gain on step acquisition associated with making WELCIA Holdings a consolidated...
TSURUHA Raises Earnings Outlook and Sets Dividend Post-WELCIA Integration
Jan 8, 2026
TSURUHA Holdings has issued its first full-year consolidated earnings forecast for the fiscal year ending February 28, 2026, reflecting the impact of its December 2025 business integration with WELCIA Holdings. The company now projects net sales o...
TSURUHA Discloses Strong Sales but Lower Profit at Newly Acquired Welcia Subsidiary
Jan 8, 2026
TSURUHA Holdings has disclosed the consolidated financial results for the nine months ended November 30, 2025 of its newly acquired, now wholly owned subsidiary, WELCIA Holdings, following WELCIA’s delisting on December 1, 2025. WELCIA repor...
TSURUHA Holdings Posts ¥833 Billion Nine-Month Sales and Lifts Full-Year Outlook After Stock Split
Jan 8, 2026
TSURUHA Holdings reported consolidated net sales of ¥833.3 billion and net income attributable to owners of the parent of ¥27.0 billion for the nine months ended November 30, 2025, its first disclosed nine-month figures under the new Feb...
TSURUHA Agrees to AEON’s Additional Market Purchases to Reach 50.9% Control
Jan 7, 2026
TSURUHA Holdings announced that AEON Co., Ltd., which recently completed a tender offer for TSURUHA’s shares, failed to reach the previously indicated 50.9% voting rights threshold through the offer alone. In response, TSURUHA and AEON have ...
AEON to Become Parent Company of TSURUHA Holdings After Successful Tender Offer
Jan 7, 2026
TSURUHA Holdings announced that AEON Co., Ltd. has successfully completed a tender offer for its common shares, with 40,727,772 shares tendered, and will purchase all tendered shares as this figure is below the maximum intended acquisition. Follow...
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.