TSURUHA Holdings (3391) AI Stock Analysis

• Market Cap: $655.71B
• Dividend Yield: 10.68%
• Average Volume (3M): 886.23K
• Price to Earnings (P/E): 30.0
• Beta (1Y): 0.38
• Revenue Growth: 4.63%
• EPS Growth: -47.30%
• Country: JP
• Employees: 11,620
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Pharmaceuticals
• EPS (TTM): 0.00
• Shares Outstanding: 248,347,440
• 10 Day Avg. Volume: 988,040
• 30 Day Avg. Volume: 886,226
• PEG Ratio: 0.01
• Price to Book (P/B): 0.39
• Price to Sales (P/S): 0.10
• P/FCF Ratio: 2.47
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $2,790.59
• Price Target Upside: 1.48% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: ¥3,132.00 ▲(13.89% Upside)

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

Business Model Strength

The company's business model is robust, leveraging a large network of retail outlets to drive sales of pharmaceuticals and daily goods, benefiting from economies of scale and strategic supplier partnerships.

Balance Sheet Health

A strong balance sheet with moderate leverage and a solid equity ratio reflects financial stability, providing a buffer against economic fluctuations and supporting long-term growth.

Gross Profit Margin Stability

Stable gross profit margins demonstrate effective cost management, which is crucial for maintaining profitability and competitive pricing in the retail sector.

Negative Factors

Declining Revenue Growth

Declining revenue growth poses a risk to future earnings potential, necessitating strategic initiatives to revitalize sales and capture market opportunities.

Profitability Margin Pressure

Pressure on profitability margins indicates challenges in maintaining operational efficiency, which could impact long-term financial performance if not addressed.

Cash Flow Management

Stagnant free cash flow growth suggests inefficiencies in cash management, which could limit the company's ability to invest in growth opportunities and manage debt effectively.

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 in Sapporo, Japan.

How the Company Makes Money

TSURUHA Holdings generates revenue primarily through the sale of pharmaceutical products, health and beauty items, and other consumables in its retail stores. The company's revenue model is based on direct sales from its extensive network of over 1,000 drugstores, where it offers a wide range of products to meet the needs of its customers. Key revenue streams include prescription medications, over-the-counter drugs, cosmetics, and daily necessities. Additionally, TSURUHA Holdings has established partnerships with various pharmaceutical manufacturers and suppliers, enabling it to maintain a diverse product offering and competitive pricing. The company's ability to adapt to market trends and consumer preferences, along with its strategic store locations, further contributes to its earnings.

TSURUHA Holdings Financial Statement Overview

Summary

TSURUHA Holdings demonstrates stability in its financial structure with moderate leverage and consistent profitability. However, recent declines in revenue growth and profitability margins highlight the need for strategic initiatives to boost growth and operational efficiency. Cash flow management remains an area for improvement to ensure sustainable financial health.

Income Statement

TSURUHA Holdings shows a stable gross profit margin around 30%, indicating consistent cost management. However, the net profit margin has slightly declined to 2.03% in the latest year, reflecting pressure on profitability. Revenue growth has been negative recently, which is a concern for future earnings potential. The EBIT and EBITDA margins have also seen a slight decline, suggesting challenges in operational efficiency.

Balance Sheet

The company maintains a healthy debt-to-equity ratio of 0.23, indicating moderate leverage. Return on equity is stable at 7.73%, showing decent profitability relative to shareholder equity. The equity ratio stands at 48.36%, reflecting a solid capital structure with a good proportion of assets financed by equity.

Cash Flow

Operating cash flow to net income ratio is 0.31, suggesting adequate cash generation relative to net income. However, free cash flow growth is stagnant, and the free cash flow to net income ratio is 0.69, indicating room for improvement in cash flow efficiency. The company needs to focus on enhancing free cash flow generation to support future investments and debt repayments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.10T	1.07T	1.03T	970.08B	915.70B	919.30B
Gross Profit	334.45B	326.40B	312.28B	293.36B	271.48B	266.72B
EBITDA	45.00B	57.40B	57.78B	61.31B	53.11B	59.95B
Net Income	17.52B	21.81B	21.74B	25.26B	21.39B	26.28B
Balance Sheet
Total Assets	583.36B	583.36B	549.22B	539.83B	562.36B	537.03B
Cash, Cash Equivalents and Short-Term Investments	92.74B	92.74B	58.69B	79.05B	127.03B	116.53B
Total Debt	63.76B	63.76B	50.04B	54.86B	55.52B	38.74B
Total Liabilities	276.99B	276.98B	241.48B	235.69B	278.32B	260.50B
Stockholders Equity	282.10B	282.10B	283.94B	278.35B	260.30B	254.62B
Cash Flow
Free Cash Flow	44.53B	44.53B	16.58B	-25.88B	12.77B	61.71B
Operating Cash Flow	64.64B	64.64B	51.96B	804.00M	35.83B	76.46B
Investing Cash Flow	-19.71B	-19.71B	-36.07B	-29.77B	-28.41B	-30.20B
Financing Cash Flow	-10.87B	-10.87B	-36.26B	-19.00B	3.07B	13.21B

TSURUHA Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2750.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3391, the sentiment is Positive. The current price of 2750 is above the 20-day moving average (MA) of 2732.83, above the 50-day MA of 2568.78, and above the 200-day MA of 2245.86, indicating a bullish trend. The MACD of 64.51 indicates Positive momentum. The RSI at 56.41 is Neutral, neither overbought nor oversold. The STOCH value of 51.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3391.

TSURUHA Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7649	75 Outperform	$633.28B	14.63	15.71%	0.94%	21.81%	67.76%
3141	72 Outperform	¥646.79B	33.60	―	1.09%	7.79%	-13.09%
9989	69 Neutral	¥511.89B	16.13	11.50%	3.04%	6.32%	8.19%
3391	67 Neutral	$655.71B	29.99	―	10.68%	4.63%	-47.30%
3549	67 Neutral	¥373.57B	22.78	―	0.38%	15.81%	27.05%
3349	60 Neutral	¥555.13B	17.83	―	1.01%	3.73%	18.84%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

TSURUHA Holdings Corporate Events

TSURUHA Holdings Reports Steady Sales Growth Amid Strategic Adjustments

TSURUHA Holdings Inc. reported a steady year-on-year growth in its monthly consolidated figures for September 2025, with a 3.7% increase in net sales across all stores. Despite a slight decline in customer numbers, the average spending per customer showed resilience, contributing to the overall sales growth. The company continues to expand its footprint with new store openings, although closures were also noted, reflecting a strategic adjustment in its operations. This growth trajectory underscores TSURUHA’s robust market positioning and its commitment to enhancing customer engagement and operational efficiency.

The most recent analyst rating on (JP:3391) stock is a Buy with a Yen2916.00 price target. To see the full list of analyst forecasts on TSURUHA Holdings stock, see the JP:3391 Stock Forecast page.

TSURUHA Holdings Exceeds Earnings Forecast, Awaits Impact of Upcoming Merger

TSURUHA Holdings Inc. reported a significant improvement in its financial performance for the first half of the fiscal year ending February 28, 2026, surpassing its previous earnings forecast. This positive result was driven by effective cost management strategies and gains from the sale of investment securities. The company is also in the process of recalculating its full-year earnings forecast due to an upcoming business integration with WELCIA Holdings Co., Ltd., which is expected to have a substantial impact on its financial outlook.

The most recent analyst rating on (JP:3391) stock is a Buy with a Yen2916.00 price target. To see the full list of analyst forecasts on TSURUHA Holdings stock, see the JP:3391 Stock Forecast page.

TSURUHA Holdings Reports Semi-Annual Financial Results Amid Fiscal Adjustments

TSURUHA Holdings reported consolidated financial results for the six months ended August 31, 2025, showing net sales of ¥557,831 million and a net income attributable to owners of the parent of ¥20,365 million. The company also implemented a five-for-one stock split and adjusted its fiscal year-end, affecting the comparability of year-on-year results. Despite these changes, the company has not provided a full-year earnings forecast due to uncertainties, which may impact stakeholders’ expectations.

The most recent analyst rating on (JP:3391) stock is a Buy with a Yen2916.00 price target. To see the full list of analyst forecasts on TSURUHA Holdings stock, see the JP:3391 Stock Forecast page.

TSURUHA Holdings Reports Steady Sales Growth Amid Expansion

TSURUHA Holdings Inc. reported a year-on-year growth in net sales for the fiscal year ending February 2026, with a cumulative increase of 4.2% across all stores. Despite a mixed performance in customer numbers and average spending, the company continues to expand its store count, highlighting a strategic focus on growth and market penetration.

The most recent analyst rating on (JP:3391) stock is a Buy with a Yen2916.00 price target. To see the full list of analyst forecasts on TSURUHA Holdings stock, see the JP:3391 Stock Forecast page.

TSURUHA HOLDINGS Reports Steady Sales Growth Amid Expansion

TSURUHA HOLDINGS INC. reported a steady year-on-year growth in its monthly sales for the fiscal year ending February 2026, with a cumulative growth rate of 4.6% in net sales across all stores. Despite some store closures, the company continues to expand its footprint with new openings, indicating a positive trajectory in its market positioning.

The most recent analyst rating on (JP:3391) stock is a Hold with a Yen11400.00 price target. To see the full list of analyst forecasts on TSURUHA Holdings stock, see the JP:3391 Stock Forecast page.