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KUSURI NO AOKI HOLDINGS CO.,LTD.
(3549)
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Rating:54Neutral
Price Target:
ÂĄ4,278.00
â–˛(13.17% Upside)
Action:Reiterated
Date:07/04/26
The score is held back primarily by mixed financial performance—especially the latest-year revenue decline, higher leverage, and volatile/free cash flow compression—despite continued positive operating cash flow. Technicals are neutral-to-soft with negative MACD and the price below longer-term moving averages. Valuation is moderate, but the very low dividend yield limits additional support.
Positive Factors
Operating cash generation
Consistent positive operating cash flow, with improvement in 2026, underpins the company's ability to fund working capital and routine capex without relying solely on external financing. Over a 2–6 month horizon this durability supports liquidity and operational continuity.
Negative Factors
Recent revenue decline
A sharp revenue drop in the latest year erodes scale economics for a high‑volume retailer, pressuring already modest operating margins. If top‑line weakness persists over several quarters it could compress profitability and impede reinvestment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating cash generation
Consistent positive operating cash flow, with improvement in 2026, underpins the company's ability to fund working capital and routine capex without relying solely on external financing. Over a 2–6 month horizon this durability supports liquidity and operational continuity.
Read all positive factors
KUSURI NO AOKI HOLDINGS CO.,LTD. (3549) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
ÂĄ384.37B
Dividend Yield0.37%
Average Volume (3M)203.46K
Price to Earnings (P/E)22.7
Beta (1Y)0.50
Revenue Growth13.04%
EPS Growth0.30%
CountryJP
Employees4,735
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)177.25
Shares Outstanding95,616,980
10 Day Avg. Volume259,620
30 Day Avg. Volume203,460
Financial Highlights & Ratios
PEG Ratio22.76
Price to Book (P/B)2.40
Price to Sales (P/S)0.60
P/FCF Ratio87.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)202.34
Revenue Forecast (FY)ÂĄ637.44B
KUSURI NO AOKI HOLDINGS CO.,LTD. Business Overview & Revenue Model
Company Description
Founded in 1999 and headquartered in Hakusan, Japan, Kusuri No Aoki Holdings Co., Ltd. primarily engages in the sale and dispensing of medications, cosmetics, and various everyday consumer products across Japan....
How the Company Makes Money
The company primarily makes money through retail sales at its drugstore locations and related pharmacy operations. Key revenue streams include: (1) in-store retail sales of over-the-counter pharmaceuticals and quasi-drugs, health and beauty items ...
KUSURI NO AOKI HOLDINGS CO.,LTD. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
56
Neutral
Cash Flow
48
Neutral
| Breakdown | May 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 566.87B | 501.47B | 436.88B | 378.87B | 328.33B |
| Gross Profit | 135.03B | 120.47B | 106.29B | 94.64B | 80.98B |
| EBITDA | 42.87B | 39.18B | 32.00B | 28.74B | 23.76B |
| Net Income | 17.13B | 17.79B | 12.31B | 12.33B | 9.84B |
Balance Sheet | |||||
| Total Assets | 410.94B | 352.46B | 303.45B | 276.33B | 236.08B |
| Cash, Cash Equivalents and Short-Term Investments | 58.93B | 47.73B | 49.13B | 42.87B | 26.35B |
| Total Debt | 149.77B | 99.32B | 98.78B | 89.50B | 78.13B |
| Total Liabilities | 269.90B | 206.70B | 186.03B | 177.78B | 149.14B |
| Stockholders Equity | 141.04B | 145.76B | 117.42B | 98.55B | 86.93B |
Cash Flow | |||||
| Free Cash Flow | 3.84B | 448.00M | 7.20B | 10.84B | -6.26B |
| Operating Cash Flow | 37.32B | 22.17B | 26.86B | 31.25B | 20.29B |
| Investing Cash Flow | -42.88B | -31.08B | -21.10B | -22.26B | -27.77B |
| Financing Cash Flow | 16.49B | 7.67B | 344.00M | 7.53B | 18.10B |
KUSURI NO AOKI HOLDINGS CO.,LTD. Technical Analysis
Positive
3780.00
Price Trends
3712.16
Positive
3720.28
Positive
3845.78
Positive
Market Momentum
27.81
Positive
48.28
Neutral
32.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3549, the sentiment is Positive. The current price of 3780 is below the 20-day moving average (MA) of 3866.35, above the 50-day MA of 3712.16, and below the 200-day MA of 3845.78, indicating a bullish trend. The MACD of 27.81 indicates Positive momentum. The RSI at 48.28 is Neutral, neither overbought nor oversold. The STOCH value of 32.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3549.
KUSURI NO AOKI HOLDINGS CO.,LTD. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥210.52B | 12.66 | ― | 2.35% | 8.76% | 8.19% | |
68 Neutral | ÂĄ441.97B | 14.09 | 11.29% | 3.42% | 5.08% | 2.07% | |
67 Neutral | ÂĄ546.32B | 16.66 | 10.75% | 1.20% | 12.20% | -25.42% | |
64 Neutral | ¥508.09B | 15.79 | ― | 1.28% | 8.72% | 3.45% | |
62 Neutral | ¥1.09T | 18.84 | 7.67% | 2.04% | ― | ― | |
54 Neutral | ¥384.37B | 22.68 | ― | 0.41% | 13.04% | 0.30% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JP:3549
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KUSURI NO AOKI HOLDINGS CO.,LTD. Corporate Events
Kusuri no Aoki Revamps Board with New Internal and Outside Directors
Jul 16, 2026
Kusuri no Aoki Holdings has nominated a new internal director and several outside directors as part of a leadership reshuffle to be decided at its upcoming annual general meeting in August. The move underscores the company’s focus on reinfor...
Kusuri no Aoki Sets Governance Proposals for August Shareholders’ Meeting
Jul 16, 2026
Kusuri no Aoki Holdings has approved proposals for its 28th Annual General Meeting of Shareholders, scheduled for August 19, 2026, as part of its regular corporate governance cycle. The agenda includes the election of 11 directors and the appointm...
Kusuri no Aoki Marks 40th Anniversary With Sharply Higher Year-End Dividend
Jul 2, 2026
KUSURI NO AOKI HOLDINGS CO., LTD. has approved a year-end dividend of ¥48 per share for the fiscal year ended May 20, 2026, comprising an ordinary dividend of ¥8 and a commemorative dividend of ¥40. The total payout of approximately...
Kusuri No Aoki Reports No Buybacks in June Under Ongoing Share Repurchase Plan
Jul 2, 2026
Kusuri No Aoki Holdings Co., Ltd. reported on the status of its ongoing share repurchase program authorized by the board in December 2025, which allows market purchases of up to 6 million common shares, or about 6.32% of outstanding stock, for a m...
Kusuri no Aoki Posts June Sales Growth and Accelerates Store Openings
Jul 2, 2026
Kusuri no Aoki Holdings reported June 2026 all-store sales at 107.3% year on year, driven by a 106.4% rise in customer traffic and a slight increase in average spending per customer, while existing-store sales slipped to 97.5% amid softer traffic....
Kusuri No Aoki Lifts Sales and Dividends as Equity Ratio Slips
Jul 2, 2026
Kusuri No Aoki Holdings reported consolidated net sales of ¥566.9 billion for the fiscal year ended May 20, 2026, up 13.0% year on year, while operating profit edged up 1.9% to ¥27.1 billion and profit attributable to owners of parent sl...
Kusuri no Aoki Shifts to TSE Standard Market, Adds Nagoya Listing
Jun 12, 2026
Kusuri no Aoki Holdings has received approval to transfer its share listing from the Tokyo Stock Exchange Prime Market to the Standard Market, effective June 19, 2026, while also securing a dual listing on the Nagoya Stock Exchange Main Market. Th...
Kusuri no Aoki Reports No Treasury Share Purchases Under Ongoing Buyback Program
Jun 5, 2026
Kusuri no Aoki Holdings reported on the status of its ongoing share buyback program authorized by a December 25, 2025 board resolution, which permits repurchasing up to 6 million shares, or 6.32% of its outstanding stock, for as much as ¥24 b...
Kusuri No Aoki boosts May sales as it accelerates nationwide store expansion
Jun 5, 2026
Kusuri No Aoki Holdings reported that for the fiscal year ending May 2026, sales at all stores continued to grow, with May all-store sales up 12.8% year on year and existing-store sales rising 3.0%, supported by higher customer traffic and steady ...
Kusuri No Aoki to Add Long-Term Incentives to Shareholder Benefit Program
May 14, 2026
Kusuri No Aoki Holdings has approved an expansion of its shareholder benefit program by introducing long-term holding incentives tied to its May 20 annual record date, starting with the fiscal year ending in 2027. The initiative aims to enhance th...
Kusuri No Aoki Reports No Share Buybacks Yet Under Authorized Program
May 7, 2026
Kusuri No Aoki Holdings Co., Ltd. reported on the status of its share buyback program authorized under Article 459 of the Companies Act and its Articles of Incorporation, as approved by the board on December 25, 2025. The authorization permits mar...
Kusuri no Aoki Posts April Sales Growth as Store Network Expands
May 7, 2026
Kusuri no Aoki Holdings reported April 2026 all-store sales at 109.5% of the previous year, with existing-store sales edging up 0.2%, as higher average spending per customer offset softer traffic at mature locations. The figures, based on prelimin...
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.