Toho Holdings Co., Ltd. (JP:8129)
:8129
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Toho Holdings Co., Ltd.
(8129)
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Rating:58Neutral
Price Target:
¥4,630.00
▼(-9.18% Downside)
Action:ReiteratedDate:10/21/25
Toho Holdings receives an overall stock score of 58, primarily driven by mixed financial performance with strong balance sheet stability but significant cash flow concerns. Technical indicators reflect bearish momentum, contributing to a lower score, while a reasonable valuation with a fair P/E ratio and moderate dividend yield provides some support.
Positive Factors
Low leverage & strong equity base
A very low debt-to-equity ratio (0.08) and a healthy equity ratio provide durable financial flexibility. For a pharmaceutical wholesaler, low leverage supports working capital needs, credit access for inventory financing, and resilience to sector shocks without stressing interest costs.
Negative Factors
Negative operating cash flow
Operating cash flow turning negative is a structural concern for a wholesaler reliant on working capital. Negative OCF can force reliance on external financing for inventory and receivables, reduce flexibility for capex, and raise long-term funding costs if not reversed.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage & strong equity base
A very low debt-to-equity ratio (0.08) and a healthy equity ratio provide durable financial flexibility. For a pharmaceutical wholesaler, low leverage supports working capital needs, credit access for inventory financing, and resilience to sector shocks without stressing interest costs.
Read all positive factors
Toho Holdings Co., Ltd. (8129) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥314.20B
Dividend Yield1.81%
Average Volume (3M)153.50K
Price to Earnings (P/E)9.2
Beta (1Y)0.39
Revenue Growth2.31%
EPS Growth19.86%
CountryJP
Employees7,572
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)127.93
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)269.38
Revenue Forecast (FY)¥1.55T
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 generates revenue primarily through the distribution of pharmaceuticals and medical supplies to hospitals, clinics, and retail pharmacies. Its revenue model is built on a combination of wholesale distribution, direct sales, and partn...
Toho Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
75
Positive
Cash Flow
40
Negative
| 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
Positive
5098.00
Price Trends
4711.90
Positive
4708.30
Positive
4897.37
Negative
Market Momentum
-38.45
Positive
52.53
Neutral
48.91
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 5098 is above the 20-day moving average (MA) of 4719.45, above the 50-day MA of 4711.90, and above the 200-day MA of 4897.37, indicating a neutral trend. The MACD of -38.45 indicates Positive momentum. The RSI at 52.53 is Neutral, neither overbought nor oversold. The STOCH value of 48.91 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ¥3.04T | 8.09 | 12.22% | 2.22% | 4.48% | 11.08% | |
77 Outperform | ¥356.43B | 9.44 | ― | 2.12% | 4.07% | 22.59% | |
70 Neutral | ¥9.18T | 18.42 | 0.54% | 4.11% | -2.84% | -88.29% | |
68 Neutral | ¥1.39T | 19.13 | 5.75% | 3.51% | 6.79% | 22.14% | |
58 Neutral | ¥314.20B | 9.20 | ― | 1.81% | 2.31% | 19.86% | |
56 Neutral | ¥806.90B | 26.11 | 48.92% | ― | 29.92% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JP:8129
Toho Holdings Co., Ltd.
4,812.00
361.70
8.13%
JP:4506
Sumitomo Dainippon Pharma Co
2,031.00
1,293.00
175.20%
JP:4523
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699.28
16.56%
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3,457.00
1,175.39
51.52%
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Takeda Pharmaceutical Co
5,789.00
1,421.68
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Nippon Shinyaku Co., Ltd.
5,292.00
1,404.92
36.14%
Toho Holdings Co., Ltd. Corporate Events
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...
Toho Holdings Receives Information Response on Planned Large-Scale Share Purchase by 3D Investment Partners
Feb 3, 2026
Toho Holdings has announced that it has received a formal response from shareholder 3D Investment Partners Pte. Ltd. regarding a previously disclosed plan for a large-scale purchase of the company’s share certificates, in line with the respo...
Toho Holdings Demands Detailed Disclosure from 3D Investment Partners on Planned Large-Scale Share Purchase
Jan 25, 2026
Toho Holdings has invoked its recently introduced policy on large-scale purchases of its shares after receiving a written explanation on January 16, 2026, from Singapore-based 3D Investment Partners regarding a proposed significant acquisition of ...
Toho Holdings Discloses 3D Investment Plan to Lift Stake to 27% Under Large-Scale Purchase Policy
Jan 18, 2026
Toho Holdings announced that it has received formal notice from 3D Investment Partners and its related fund that they plan to increase their stake in the company through market purchases of up to 1,537,200 additional shares, capping their total vo...
Toho Holdings Rejects Activist’s Call for New Probe Into Past Antitrust Violations
Dec 26, 2025
Toho Holdings’ outside directors have rejected a request from shareholder 3D Investment Partners Pte. Ltd. to establish a new third-party committee to investigate past violations of the Antimonopoly Act, arguing that the company’s gove...
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.