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Toho Holdings Co., Ltd.
(8129)
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Rating:64Neutral
Price Target:
¥3,866.00
▼(-24.17% Downside)
Action:Reiterated
Date:08/06/26
The score is primarily driven by solid financial resilience from a very conservative balance sheet and steady revenue growth, offset by thin margins, recent profit softness, and uneven cash-flow conversion. Technicals further weigh on the score as the stock is trading below major moving averages with generally weak momentum. Valuation is a positive support, helped by a reasonable P/E and a strong dividend yield.
Positive Factors
Conservative balance sheet / low leverage
Very low and falling leverage gives durable financial flexibility: it lowers refinancing and solvency risk, supports steady dividend capacity or opportunistic M&A, and cushions operating volatility. Over 2–6 months this underpins resilience to shocks and strategic optionality.
Negative Factors
Structurally thin profitability
Very narrow gross and net margins limit the company’s ability to absorb input cost increases or invest behind growth initiatives. Over several months this reduces margin headroom, heightens sensitivity to pricing pressure in distribution, and constrains retained earnings for reinvestment.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
Very low and falling leverage gives durable financial flexibility: it lowers refinancing and solvency risk, supports steady dividend capacity or opportunistic M&A, and cushions operating volatility. Over 2–6 months this underpins resilience to shocks and strategic optionality.
Read all positive factors
Toho Holdings Co., Ltd. (8129) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥249.49B
Dividend Yield4.32%
Average Volume (3M)153.50K
Price to Earnings (P/E)15.1
Beta (1Y)0.19
Revenue Growth3.55%
EPS Growth-25.21%
CountryJP
Employees7,675
SectorGeneral
Sector StrengthN/A
IndustryMedical - Distribution
Share Statistics
EPS (TTM)270.02
Shares Outstanding73,025,940
10 Day Avg. Volume107,250
30 Day Avg. Volume153,503
Financial Highlights & Ratios
PEG Ratio-1.31
Price to Book (P/B)1.12
Price to Sales (P/S)0.20
P/FCF Ratio23.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,600.00Price Target Upside-9.77% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)187.7
Revenue Forecast (FY)¥1.60T
Toho Holdings Co., Ltd. Business Overview & Revenue Model
Company Description
Toho Holdings Co., Ltd. serves as a leading wholesaler of pharmaceutical and healthcare products throughout Japan. Its extensive product range includes prescription and over-the-counter medications, reagents, medical devices and supplies, and heal...
How the Company Makes Money
Toho Holdings primarily makes money through distribution-based revenues generated by selling pharmaceuticals and healthcare-related products to hospitals, clinics, and dispensing pharmacies. Its core revenue stream is the wholesale margin (the spr...
Toho Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
82
Very Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.55T | 1.52T | 1.48T | 1.39T | 1.27T |
| Gross Profit | 116.75B | 116.00B | 112.98B | 104.75B | 102.28B |
| EBITDA | 32.36B | 34.18B | 37.44B | 26.91B | 27.14B |
| Net Income | 17.33B | 19.84B | 20.66B | 13.63B | 13.38B |
Balance Sheet | |||||
| Total Assets | 740.78B | 722.80B | 773.43B | 715.29B | 702.38B |
| Cash, Cash Equivalents and Short-Term Investments | 94.36B | 86.53B | 132.97B | 86.20B | 94.26B |
| Total Debt | 9.89B | 21.26B | 30.24B | 37.89B | 40.74B |
| Total Liabilities | 469.22B | 465.90B | 523.99B | 472.37B | 461.09B |
| Stockholders Equity | 271.43B | 256.78B | 249.33B | 242.82B | 241.08B |
Cash Flow | |||||
| Free Cash Flow | 13.20B | -30.73B | 57.43B | -1.65B | 12.72B |
| Operating Cash Flow | 19.42B | -26.68B | 59.93B | -9.00M | 16.34B |
| Investing Cash Flow | 822.00M | -4.18B | 9.09B | 4.32B | -11.03B |
| Financing Cash Flow | -16.35B | -20.36B | -22.20B | -13.06B | -4.47B |
Toho Holdings Co., Ltd. Technical Analysis
Negative
5098.00
Price Trends
3962.68
Negative
4209.26
Negative
4419.36
Negative
Market Momentum
-63.48
Positive
43.26
Neutral
42.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8129, the sentiment is Negative. The current price of 5098 is above the 20-day moving average (MA) of 3971.30, above the 50-day MA of 3962.68, and above the 200-day MA of 4419.36, indicating a bearish trend. The MACD of -63.48 indicates Positive momentum. The RSI at 43.26 is Neutral, neither overbought nor oversold. The STOCH value of 42.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8129.
Toho Holdings Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥245.17B | 7.77 | ― | 2.12% | 12.23% | 3.35% | |
73 Outperform | ¥2.49T | 9.14 | 13.65% | 2.45% | 27.87% | 47.03% | |
71 Outperform | ¥1.37T | 32.37 | 4.44% | 3.44% | 6.73% | -15.79% | |
68 Neutral | ¥615.47B | 4.90 | 41.78% | ― | 14.09% | 488.06% | |
64 Neutral | ¥249.49B | 15.12 | ― | 1.81% | 3.55% | -25.21% | |
64 Neutral | ¥8.96T | 49.12 | 2.61% | 3.54% | 3.10% | -218.63% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:8129
Toho Holdings Co., Ltd.
3,821.00
-1,423.32
-27.14%
JP:4506
Sumitomo Dainippon Pharma Co
1,372.00
-4.00
-0.29%
JP:4523
Eisai Co
4,858.00
344.08
7.62%
JP:4507
Shionogi & Co
2,831.50
252.69
9.80%
JP:4502
Takeda Pharmaceutical Co
5,611.00
1,301.17
30.19%
JP:4516
Nippon Shinyaku Co., Ltd.
3,640.00
466.32
14.69%
Toho Holdings Co., Ltd. Corporate Events
Toho Holdings Posts Profit Decline Despite Sales Growth, Keeps Forecast and Lifts Dividend Payout
Aug 5, 2026
Toho Holdings reported consolidated net sales of ¥397.8 billion for the three months ended June 30, 2026, up 5.8% year-on-year, but operating profit fell 35.8% to ¥2.5 billion and profit attributable to owners of parent dropped 29.8% to ...
Toho Holdings Posts Higher Sales but Sharp Profit Decline in Q1 FY2027
Aug 5, 2026
Toho Holdings reported a 5.8% year-on-year increase in net sales to ¥397.8 billion for the quarter ended June 2026, but profitability weakened as operating profit fell 35.8% to ¥2.5 billion and ordinary profit declined 14.1%. Profit attr...
Toho Holdings Uses Restricted Stock to Strengthen Management Incentives
Jul 15, 2026
Toho Holdings has approved the disposal of 13,900 shares of its treasury stock as restricted stock compensation to four directors and twelve corporate officers, with a total disposal value of 55,349,800 yen and a per-share price of 3,982 yen. The ...
Toho Holdings Lifts Dividend Despite Profit Decline and Cautious Outlook
May 13, 2026
Toho Holdings reported a 2.3% increase in net sales to ¥1.55 trillion for the fiscal year ended March 31, 2026, but operating profit fell 12.3% and ordinary profit dropped 19.7%, reflecting margin pressure and weaker contributions from equity...
Toho Holdings Cuts Conversion Price on 2028 Zero-Coupon Convertible Bonds After Dividend Decision
May 13, 2026
Toho Holdings has adjusted the conversion price on its Zero Coupon Convertible Bonds due 2028, lowering it from ¥2,760.1 to ¥2,690.2 per share. The new conversion price will apply from April 1, 2026, reflecting a technical recalibration ...
Toho Holdings Posts Higher Sales but Weaker Profit, Strengthens Balance Sheet
May 13, 2026
Toho Holdings reported a 2.3% rise in consolidated net sales to ¥1.55 trillion for the year ended March 2026, but profitability weakened as operating profit fell 12.3% and ordinary profit dropped 19.7%. Profit attributable to owners of parent...
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.