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TSURUHA Holdings
(3391)
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Rating:64Neutral
Price Target:
¥2,252.00
▼(-3.90% Downside)
Action:Reiterated
Date:08/06/26
The score is primarily driven by solid top-line growth and improved 2026 cash flow, offset by weaker 2026 earnings despite higher revenue, a sharp increase in debt, and lower ROE. Technical indicators are mixed-to-neutral, and valuation (P/E ~18.8, ~2.0% yield) is reasonable but not clearly compelling.
Positive Factors
Strong Revenue Growth
Sustained revenue expansion indicates continued customer demand across TSURUHA Holdings’ drugstore assortment and store network. The sharp 2026 acceleration can support greater purchasing scale, broader market reach, and reinvestment in the retail platform over the next several quarters.
Negative Factors
2026 Earnings Decline
Falling earnings alongside rapid sales growth shows that additional revenue is not translating proportionally into bottom-line profit. If this pattern persists, it could limit internally funded investment, weaken earnings quality, and reduce the benefit of the company’s otherwise strong expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained revenue expansion indicates continued customer demand across TSURUHA Holdings’ drugstore assortment and store network. The sharp 2026 acceleration can support greater purchasing scale, broader market reach, and reinvestment in the retail platform over the next several quarters.
Read all positive factors
TSURUHA Holdings (3391) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.02T
Dividend Yield2.15%
Average Volume (3M)1.79M
Price to Earnings (P/E)17.4
Beta (1Y)0.14
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees27,681
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)127.67
Shares Outstanding454,956,000
10 Day Avg. Volume2,341,720
30 Day Avg. Volume1,791,153
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)0.88
Price to Sales (P/S)0.53
P/FCF Ratio12.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,602.50Price Target Upside11.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)105.46
Revenue Forecast (FY)¥2.54T
TSURUHA Holdings Business Overview & Revenue Model
Company Description
Tsuruha Holdings Inc. is a Japan-based drugstore holding company operating a nationwide chain of retail pharmacies. The company's stores sell pharmaceuticals, cosmetics, daily necessities, and food products, with additional operations in Thailand....
How the Company Makes Money
TSURUHA Holdings makes money primarily through retail sales at its drugstore locations and related retail formats. Its core revenue stream is in-store (and where available, online) sales of a broad assortment that typically includes over-the-count...
TSURUHA Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Feb 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.17T | 1.45T | 1.07T | 1.03T | 970.08B | 915.70B |
| Gross Profit | 668.80B | 443.99B | 326.40B | 312.28B | 293.36B | 271.48B |
| EBITDA | 141.24B | 99.53B | 57.40B | 57.78B | 61.31B | 53.11B |
| Net Income | 52.56B | 42.67B | 21.81B | 21.74B | 25.26B | 21.39B |
Balance Sheet | ||||||
| Total Assets | 1.59T | 1.65T | 583.36B | 549.55B | 539.83B | 562.36B |
| Cash, Cash Equivalents and Short-Term Investments | 141.44B | 202.13B | 92.74B | 58.69B | 79.05B | 127.03B |
| Total Debt | 201.07B | 208.49B | 63.76B | 50.04B | 54.86B | 55.52B |
| Total Liabilities | 670.48B | 752.27B | 276.98B | 244.25B | 235.68B | 278.31B |
| Stockholders Equity | 896.09B | 875.82B | 282.10B | 281.58B | 278.35B | 260.31B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 59.69B | 44.53B | 19.97B | -23.90B | 15.11B |
| Operating Cash Flow | 0.00 | 84.58B | 64.64B | 51.96B | 804.00M | 35.83B |
| Investing Cash Flow | 0.00 | -19.79B | -19.71B | -36.07B | -29.77B | -28.41B |
| Financing Cash Flow | 0.00 | -39.05B | -10.87B | -36.26B | -19.00B | 3.07B |
TSURUHA Holdings Technical Analysis
Neutral
2343.50
Price Trends
2250.79
Negative
2208.65
Negative
2287.65
Negative
Market Momentum
-10.14
Negative
49.29
Neutral
73.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3391, the sentiment is Neutral. The current price of 2343.5 is above the 20-day moving average (MA) of 2145.35, above the 50-day MA of 2250.79, and above the 200-day MA of 2287.65, indicating a neutral trend. The MACD of -10.14 indicates Negative momentum. The RSI at 49.29 is Neutral, neither overbought nor oversold. The STOCH value of 73.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:3391.
TSURUHA Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥432.50B | 13.46 | 11.15% | 3.65% | 4.32% | 0.18% | |
68 Neutral | ¥203.25B | 12.24 | ― | 2.92% | 8.67% | 3.24% | |
64 Neutral | ¥1.02T | 17.37 | 7.13% | 2.15% | ― | ― | |
62 Neutral | ¥501.33B | 15.44 | 9.94% | 1.39% | 8.97% | -29.54% | |
58 Neutral | ¥520.82B | 15.62 | ― | 1.30% | 8.99% | 3.61% | |
56 Neutral | ¥421.38B | 21.39 | ― | 0.35% | 12.54% | 15.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JP:3391
TSURUHA Holdings
2,182.50
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-16.72%
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TSURUHA Holdings Corporate Events
TSURUHA Holdings Delivers Strong Half-Year Sales Growth Amid Stable Financial Base
Oct 7, 2026
TSURUHA Holdings reported strong consolidated results for the six months ended August 31, 2026, with net sales surging 128.7% year-on-year to ¥1,275.5 billion and EBITDA more than doubling to ¥85.5 billion. Operating income rose to ¥...
TSURUHA Completes Restricted Stock Compensation Share Issuance
Jul 16, 2026
TSURUHA Holdings has completed payment procedures for the issuance of 65,000 shares of common stock as restricted stock compensation, following a board resolution passed on June 19, 2026. The restricted shares, priced at JPY 2,027 each for a total...
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.