Toho Holdings Co., Ltd. (JP:8129)
:8129
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Toho Holdings Co., Ltd.
(8129)
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Rating:60Neutral
Price Target:
¥4,512.00
▼(-11.49% Downside)
Action:ReiteratedDate:10/29/25
Toho Holdings' overall stock score is primarily impacted by its solid financial performance, despite concerns over cash flow. Technical analysis indicates bearish momentum, which weighs down the score. Valuation metrics are reasonable but do not suggest significant upside potential.
Positive Factors
Low leverage and solid equity base
A very low debt-to-equity ratio and healthy equity ratio provide durable financial flexibility, enabling sustained investment in distribution centers and logistics. Improved ROE shows capital is being used more efficiently, supporting resilience through industry cycles and funding strategic initiatives.
Negative Factors
Operating cash flow turned negative
Negative operating cash flow and declining free cash flow are durable concerns: they reduce internal funding for working capital and capex, may force reliance on reserves or borrowing, and can constrain investments in distribution capacity or technology needed to maintain competitiveness.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and solid equity base
A very low debt-to-equity ratio and healthy equity ratio provide durable financial flexibility, enabling sustained investment in distribution centers and logistics. Improved ROE shows capital is being used more efficiently, supporting resilience through industry cycles and funding strategic initiatives.
Read all positive factors
Toho Holdings Co., Ltd. (8129) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥284.17B
Dividend Yield1.81%
Average Volume (3M)153.50K
Price to Earnings (P/E)9.2
Beta (1Y)0.39
Revenue Growth1.34%
EPS Growth36.90%
CountryJP
Employees7,572
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)338.32
Shares Outstanding73,025,940
10 Day Avg. Volume107,250
30 Day Avg. Volume153,503
Financial Highlights & Ratios
PEG Ratio-6.57
Price to Book (P/B)1.10
Price to Sales (P/S)0.19
P/FCF Ratio-9.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥5,000.00Price Target Upside-1.92% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)229.56
Revenue Forecast (FY)¥1.57T
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 h...
How the Company Makes Money
Toho Holdings makes money mainly by wholesaling pharmaceuticals and related medical products in Japan. Its core revenue stream is the sale and distribution of prescription drugs: the company purchases pharmaceuticals from manufacturers and sells t...
Toho Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
80
Positive
Cash Flow
60
Neutral
| 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 | 118.41B | 116.00B | 112.98B | 104.75B | 102.28B | 93.04B |
| EBITDA | 26.54B | 24.88B | 25.70B | 19.23B | 19.48B | 10.86B |
| Net Income | 21.39B | 19.84B | 20.66B | 13.63B | 13.38B | 4.99B |
Balance Sheet | ||||||
| Total Assets | 741.92B | 722.80B | 773.43B | 715.29B | 702.38B | 683.18B |
| Cash, Cash Equivalents and Short-Term Investments | 99.87B | 86.53B | 132.97B | 86.20B | 94.26B | 93.09B |
| Total Debt | 19.01B | 21.26B | 30.24B | 37.89B | 40.74B | 43.90B |
| Total Liabilities | 486.21B | 465.90B | 523.99B | 472.37B | 461.09B | 445.77B |
| Stockholders Equity | 255.58B | 256.78B | 249.33B | 242.82B | 241.08B | 237.41B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -30.73B | 57.43B | -1.65B | 12.72B | 4.63B |
| 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
Negative
5098.00
Price Trends
4685.95
Negative
4650.36
Negative
4840.97
Negative
Market Momentum
-19.13
Positive
41.42
Neutral
11.55
Positive
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 4727.99, above the 50-day MA of 4685.95, and above the 200-day MA of 4840.97, indicating a bearish trend. The MACD of -19.13 indicates Positive momentum. The RSI at 41.42 is Neutral, neither overbought nor oversold. The STOCH value of 11.55 is Positive, 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 (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ¥2.79T | 8.09 | 12.22% | 2.22% | 7.76% | 15.64% | |
77 Outperform | ¥275.68B | 9.44 | ― | 2.12% | 5.87% | -1.85% | |
70 Neutral | ¥8.26T | 18.42 | 0.54% | 4.11% | -2.50% | -45.28% | |
68 Neutral | ¥1.32T | 19.13 | 5.75% | 3.51% | 2.09% | -26.70% | |
60 Neutral | ¥284.17B | 9.20 | ― | 1.81% | 1.34% | 36.90% | |
56 Neutral | ¥723.58B | 26.11 | 48.92% | ― | 21.65% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JP:8129
Toho Holdings Co., Ltd.
4,352.00
-203.82
-4.47%
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5,213.00
1,145.27
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25.44%
Toho Holdings Co., Ltd. Corporate Events
Toho Holdings to Seek Shareholder Vote on Defensive Measures Against 3D’s Share Purchase
Apr 29, 2026
Toho Holdings’ board has completed its evaluation of a proposed large-scale share purchase by 3D Investment Partners and related entities, concluding there is a risk to the company’s corporate value and the common interests of sharehol...
Toho Holdings to Fully Redeem Zero Coupon Convertible Bonds Two Years Early
Apr 28, 2026
Toho Holdings Co., Ltd. will fully redeem its outstanding Zero Coupon Convertible Bonds due 2028 after meeting the conditions for a clean-up call. The bonds, originally issued in June 2023 with a total principal of 22 billion yen, now have 1.75 bi...
Toho Holdings Triples Annual Dividend Under New Medium-Term Plan
Apr 28, 2026
Toho Holdings has revised its dividend forecast for the fiscal year ended March 2026, significantly increasing returns to shareholders. The company now plans an annual dividend of 165 yen per share, up from the previous year’s 65 yen, reflec...
Toho Holdings Cuts Sales and Profit Outlook but Lifts Net Earnings Forecast
Apr 28, 2026
Toho Holdings has revised its consolidated full-year earnings forecast for the fiscal year ended March 2026, cutting projections for net sales, operating profit and ordinary profit, while raising its estimate for profit attributable to owners of p...
Toho Holdings Maps 2026–2028 Push to Become Comprehensive Healthcare Solutions Provider
Apr 28, 2026
Toho Holdings unveiled its Medium-term Management Plan 2026–2028, branding the next three years as a monetization phase following earlier foundation-building reforms in governance, HR and capital efficiency. The company aims to evolve into a...
Toho Holdings Sets New CEO and Board Slate to Drive 2026–2028 Growth Plan
Apr 28, 2026
Toho Holdings has set a slate of director candidates for approval at its June 26, 2026 shareholders meeting and has provisionally chosen a new CEO, following recommendations from its Nomination and Compensation Committee, which is dominated by ind...
Toho Holdings Seeks More Clarity on 3D Investment’s Large-Scale Share Purchase
Apr 17, 2026
Toho Holdings has implemented a response policy governing large-scale purchases of its share certificates to protect shareholder interests and ensure transparency in potential changes to its ownership structure. The policy is designed to require d...
Toho Holdings Extends Review of 3D Investment’s Large-Scale Share Purchase
Apr 10, 2026
Toho Holdings has extended the evaluation period for its board of directors to assess a proposed large-scale share purchase by 3D Investment Partners. The review, originally set to end on April 14, 2026, will now run until April 28, 2026, as the b...
Toho Holdings Presses 3D Investment Partners for More Details on Large Share Purchase
Apr 2, 2026
Toho Holdings has again asked 3D Investment Partners to provide more information on its planned large-scale purchase of the company’s shares, saying details submitted so far are still inadequate for shareholders to judge the bid’s meri...
Toho Holdings Reviews Additional Information on 3D Investment’s Large-Scale Share Purchase Plan
Mar 18, 2026
Toho Holdings announced it has received an additional response from 3D Investment Partners Pte. Ltd. regarding 3D’s planned large-scale purchase of Toho’s share certificates. The exchange follows the company’s previously adopted ...
Toho Holdings Books ¥4.2 Billion Extraordinary Gain From Sale of Cross-Shareholdings
Mar 16, 2026
Toho Holdings has sold a portion of its cross-shareholdings, unloading nine listed securities between January 5 and March 16, 2026, as part of a drive to improve asset efficiency and strengthen its financial structure. The transactions generated a...
Toho Holdings Demands More Details on 3D Investment’s Large-Scale Share Purchase Plan
Feb 25, 2026
Toho Holdings has escalated its scrutiny of a planned large-scale share purchase by 3D Investment Partners, saying the investor’s previous disclosures do not provide enough detail for shareholders to judge the bid. After reviewing 3D’s...
Toho Holdings Rejects Shareholder Demand to Sue Directors Over Bid-Rigging Scandal
Feb 12, 2026
Toho Holdings announced that its Audit and Supervisory Committee has unanimously decided not to file a liability lawsuit against 16 current and former directors over bid-rigging cases at subsidiaries Toho Pharmaceutical and Kyushutoho. The shareho...
Toho Holdings Sharply Raises Dividend Forecast for Fiscal Year Ending March 2026
Feb 12, 2026
Toho Holdings has revised its dividend forecast for the fiscal year ending March 2026, signaling a stronger commitment to shareholder returns. The company continues to emphasize a stable increase in dividends in line with its medium-term managemen...
Toho Holdings Lifts Dividend Forecast as Nine-Month Profit Surges Despite Weaker Margins
Feb 12, 2026
Toho Holdings reported consolidated net sales of ¥1.18 trillion for the nine months ended December 31, 2025, up 1.8% year on year, while operating and ordinary profit declined 13.3% and 11.7% respectively, reflecting pressure on margins despi...
Toho Holdings Boosts Net Profit Despite Margin Pressure in Q3 FY2025
Feb 12, 2026
Toho Holdings reported consolidated net sales of ¥1.18 trillion for the quarter ended December 2025, up 1.8% year on year, while operating profit fell 13.3% to ¥12.4 billion and ordinary profit declined 11.7% to ¥14.2 billion. Despi...
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.