Toho Holdings Co., Ltd. (8129) AI Stock Analysis

• Market Cap: ¥347.24B
• Dividend Yield: 1.22%
• Average Volume (3M): 202.27K
• Price to Earnings (P/E): 15.7
• Beta (1Y): 0.39
• Revenue Growth: 1.51%
• EPS Growth: 3.14%
• Country: JP
• Employees: 7,572
• Sector: Healthcare
• Sector Strength: 48
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 53.61
• Shares Outstanding: 73,025,940
• 10 Day Avg. Volume: 168,870
• 30 Day Avg. Volume: 202,273
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ¥5,000.00
• Price Target Upside: -6.03% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 68 Neutral
• Price Target: ¥5,549.00 ▲(4.28% Upside)

Toho Holdings earns an overall score of 68, reflecting a balance of strong financial health and reasonable valuation, counterbalanced by concerns over cash flow and technical indicators suggesting overbought conditions. The company's low leverage and consistent revenue growth are key strengths, while the potential for a technical pullback and cash flow issues are primary risks.

Toho Holdings Co., Ltd. Business Overview & Revenue Model

Company Description

Toho Holdings Co., Ltd. engages in the wholesale distribution of pharmaceutical products in Japan. It sells prescription pharmaceuticals, reagents, medical devices and materials, OTC drugs, health foods, preventive care, clinical care, community healthcare linkage, and home medical and nursing care, as well as provides support services, including the development and sale of customer support systems, assistance in the start-up of medical institutions and pharmacies, management consulting services, medical support, and personnel recruitment. The company also engages in dispensing pharmacy business; manufacture and sale of generic drugs; and site management organization business that assists various medical institutions with clinical trials under contract, as well as sells software to medical institutions. In addition, it provides various customer support systems, including ENIF, an information terminal for pharmaceutical ordering; ENI-Pharmacy, a support system for the separation of dispensing and prescribing functions; LXMATE HeLios a medical care appointment system; KAITOS, an online medical consultation and medication guidance system; ENIFwin, an inventory control system for large hospitals; ENIFvoice SP/ ENIFvoice SP + A/ ENIFvoice Core, a supporting system for electronic medication history recording with voice recognition; and ENIF Nurse, an operation support terminal for home-visit nurses; and logistics systems. The company was incorporated in 1948 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Toho Holdings Co., Ltd. generates revenue mainly through its Pharmaceutical Wholesale segment. The company earns money by purchasing pharmaceutical products from manufacturers and distributing them to medical institutions and pharmacies across Japan. This distribution process involves leveraging its extensive logistics network to ensure timely and efficient delivery of medical supplies. Additionally, Toho Holdings offers pharmacy management services and develops medical information systems, which provide supplementary revenue streams. Strategic partnerships with pharmaceutical manufacturers and healthcare providers also contribute to its earnings by enhancing its product offerings and expanding its market reach.

Toho Holdings Co., Ltd. Financial Statement Overview

Summary

Toho Holdings exhibits strong financial health with consistent revenue growth and robust balance sheet metrics. However, there are concerns about cash flow performance, particularly with the recent negative operating cash flow.

Income Statement

Toho Holdings demonstrated steady revenue growth over the past few years, with a notable increase of 3% from 2024 to 2025. Gross profit margin remained stable despite a slight decrease in gross profit. Net profit margin improved, reaching 13.1% in 2025. However, EBITDA margin showed a decline, indicating potential cost management issues.

Balance Sheet

The company's balance sheet is robust, with a debt-to-equity ratio that improved to 0.08 in 2025, indicating low leverage. The equity ratio remained healthy at 35.5%, showing strong equity financing. Return on equity improved to 7.7%, reflecting efficient use of equity capital.

Cash Flow

The cash flow analysis reveals some concerns, with operating cash flow turning negative in 2025. Free cash flow also declined significantly, showing a worrying trend in cash generation. However, the company has managed capital expenditures efficiently, which may support future cash flow improvements.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.52T	1.52T	1.48T	1.39T	1.27T	1.21T
Gross Profit	122.22B	116.00B	119.15B	110.81B	108.69B	99.37B
EBITDA	28.76B	34.19B	37.44B	19.23B	19.48B	10.86B
Net Income	17.44B	19.84B	20.66B	13.63B	13.38B	4.99B
Balance Sheet
Total Assets	820.46B	722.80B	773.43B	715.29B	702.38B	683.18B
Cash, Cash Equivalents and Short-Term Investments	115.71B	86.53B	132.97B	86.20B	94.26B	93.09B
Total Debt	19.46B	21.26B	30.24B	37.89B	40.74B	43.90B
Total Liabilities	560.61B	465.90B	523.99B	472.37B	461.10B	445.78B
Stockholders Equity	259.73B	256.78B	249.33B	242.82B	241.08B	237.40B
Cash Flow
Free Cash Flow	0.00	-30.73B	56.15B	-2.53B	12.14B	3.04B
Operating Cash Flow	0.00	-26.68B	59.93B	-9.00M	16.34B	8.77B
Investing Cash Flow	0.00	-4.18B	9.09B	4.32B	-11.03B	680.00M
Financing Cash Flow	0.00	-20.36B	-22.20B	-13.06B	-4.47B	-680.00M

Toho Holdings Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5321.00
• 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:8129, the sentiment is Positive. The current price of 5321 is below the 20-day moving average (MA) of 5322.65, above the 50-day MA of 4975.14, and above the 200-day MA of 4518.20, indicating a bullish trend. The MACD of 111.69 indicates Positive momentum. The RSI at 62.21 is Neutral, neither overbought nor oversold. The STOCH value of 26.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8129.

Toho Holdings Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8129	68 Neutral	¥347.24B	15.72		1.22%	1.51%	3.14%
Sector *	51 Neutral	$7.83B	-0.18	-40.10%	2.29%	21.46%	-2.03%
TRXPF	―	$1.21B	28.51	4.52%	―	―	―
TWAPF	―	$1.04B	11.76	9.60%	1.44%	―	―
4569	77 Outperform	¥80.28B	8.50		3.42%	9.83%	86.18%
4887	61 Neutral	¥190.64B	207.85		1.42%	3.52%	-95.28%
4538	54 Neutral	¥19.11B	6.46		3.78%	8.71%	-325.91%

Toho Holdings Co., Ltd. Corporate Events

Toho Holdings Reports Strong Profit Growth in Q1 2025

Toho Holdings Co., Ltd. reported a slight increase in net sales for the three months ended June 30, 2025, with a notable rise in operating and ordinary profits compared to the previous year. The company experienced significant growth in profit attributable to owners of the parent, reflecting an 85.8% increase. The financial forecast for the fiscal year ending March 31, 2026, anticipates continued growth in net sales and profits, despite a projected decline in full-year profit attributable to owners of the parent. The inclusion of K・Create Corporation in the scope of consolidation may impact future financial results.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

Toho Holdings Reports Strong Financial Performance in Q1 2025

Toho Holdings Co., Ltd. reported a slight increase in net sales by 0.7% for the quarter ending June 2025, with a significant rise in operating profit by 68.6% compared to the previous year. The company’s comprehensive income also saw a notable increase of 39.5%, indicating a strong financial performance that could positively impact its market position and stakeholder confidence.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

Toho Holdings Announces Progress in Share Buyback Program

Toho Holdings Co., Ltd. announced the status of its share buyback program, acquiring 349,400 common shares at a cost of ¥1,674,053,500 through market purchases at the Tokyo Stock Exchange in July 2025. This move is part of a broader strategy authorized by the Board of Directors to buy back up to 3,000,000 shares by the end of 2025, potentially impacting shareholder value and market perception.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

Toho Holdings Implements Restricted Stock Compensation Plan

Toho Holdings Co., Ltd. announced its decision to dispose of treasury stock as part of a restricted stock compensation plan aimed at incentivizing directors and corporate officers. This initiative is designed to align the interests of the company’s leadership with those of shareholders, by providing stock compensation that is subject to transfer restrictions until resignation or retirement. The move is expected to enhance the company’s corporate value and ensure long-term commitment from its executives.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

TOHO HOLDINGS Announces Progress in Share Buyback Program

TOHO HOLDINGS CO., LTD. announced the status of its ongoing share buyback program, acquiring 263,300 common shares at a cost of ¥1,216,312,000 between June 1 and June 30, 2025. This move is part of a broader strategy authorized by the Board of Directors to repurchase up to 3,000,000 shares by the end of 2025, aiming to enhance shareholder value and optimize capital structure.

The most recent analyst rating on (JP:8129) stock is a Buy with a Yen5800.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

TOHO HOLDINGS Announces Progress on Share Buyback Plan

TOHO HOLDINGS CO., LTD. has announced the status of its share buybacks, acquiring 130,700 common shares at a cost of ¥591,023,400 through market purchases at the Tokyo Stock Exchange. This is part of a larger plan authorized by the Board of Directors to buy back up to 3,000,000 shares, with a maximum budget of ¥10,000,000,000, from May 15, 2025, to December 31, 2025. This move is likely aimed at enhancing shareholder value and optimizing capital structure.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

Toho Holdings Announces Executive Restructuring

Toho Holdings Co., Ltd. has announced significant changes in its executive team and management structure, effective June 27, 2025. These changes include the appointment of Hiromi Edahiro as the Representative Director, President, and CEO, and the introduction of new roles for several other executives. The restructuring is aimed at enhancing the company’s governance and operational efficiency, potentially impacting its strategic direction and stakeholder engagement.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

Toho Holdings Adjusts Convertible Bond Conversion Price

Toho Holdings Co., Ltd. announced an adjustment to the conversion price of its Zero Coupon Convertible Bonds due 2028, lowering it from ¥2,789.0 to ¥2,767.1. This adjustment follows the approval of a dividend proposal, setting the annual dividend for the period ended March 2025 at 65 yen per share, which necessitated the conversion price change according to the bond terms.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

Toho Holdings Announces Share Buyback Plan

Toho Holdings Co., Ltd. has announced a decision to acquire up to 3,000,000 of its own shares, representing 4.79% of its total issued shares, excluding treasury stocks. This move, with a maximum budget of ¥10 billion, aims to enhance shareholder returns and improve capital efficiency, reflecting the company’s strategic focus on optimizing its financial structure and market positioning.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.

Toho Holdings Reports Fiscal Year 2025 Financial Results with Mixed Performance

Toho Holdings Co., Ltd. reported its consolidated financial results for the fiscal year ending March 31, 2025, showing a slight increase in net sales by 2.8% to ¥1,518,495 million. However, there was a decline in operating profit and ordinary profit by 2.0% and 4.9% respectively. The company also noted a significant drop in comprehensive income by 21.9%. Despite these challenges, Toho Holdings increased its annual dividend per share to ¥65.00, reflecting a commitment to shareholder returns. The financial forecast for the next fiscal year indicates a positive outlook with expected growth in net sales and profits, although profit attributable to owners of the parent is projected to decrease by 20.9%.

The most recent analyst rating on (JP:8129) stock is a Hold with a Yen4320.00 price target. To see the full list of analyst forecasts on Toho Holdings Co., Ltd. stock, see the JP:8129 Stock Forecast page.