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KUSURI NO AOKI HOLDINGS CO.,LTD.
(3549)
Select Model
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Rating:54Neutral
Price Target:
¥4,215.00
▲(11.51% Upside)
Action:Reiterated
Date:07/04/26
The score is held back primarily by mixed financial performance—especially the latest-year revenue decline, higher leverage, and volatile/free cash flow compression—despite continued positive operating cash flow. Technicals are neutral-to-soft with negative MACD and the price below longer-term moving averages. Valuation is moderate, but the very low dividend yield limits additional support.
Positive Factors
Positive operating cash generation
Positive operating cash generation across every reported year, including an improvement in 2026, supports routine funding needs and indicates that the core retail and pharmacy model converts business activity into cash. This provides resilience for ongoing operations and investment.
Negative Factors
Latest-year revenue contraction
The 11.6% revenue decline in the latest annual period signals a meaningful slowdown after several years of expansion. A sustained contraction would reduce operating leverage, limit the benefits of the store network, and make it harder to maintain earnings growth across the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive operating cash generation
Positive operating cash generation across every reported year, including an improvement in 2026, supports routine funding needs and indicates that the core retail and pharmacy model converts business activity into cash. This provides resilience for ongoing operations and investment.
Read all positive factors
KUSURI NO AOKI HOLDINGS CO.,LTD. (3549) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥356.84B
Dividend Yield0.4%
Average Volume (3M)233.72K
Price to Earnings (P/E)20.6
Beta (1Y)0.51
Revenue Growth13.04%
EPS Growth-0.05%
CountryJP
Employees6,355
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)177.25
Shares Outstanding95,616,980
10 Day Avg. Volume213,840
30 Day Avg. Volume233,720
Financial Highlights & Ratios
PEG Ratio22.76
Price to Book (P/B)2.40
Price to Sales (P/S)0.60
P/FCF Ratio87.96
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)199.61
Revenue Forecast (FY)¥630.53B
KUSURI NO AOKI HOLDINGS CO.,LTD. Business Overview & Revenue Model
Company Description
Founded in 1999 and headquartered in Hakusan, Japan, Kusuri No Aoki Holdings Co., Ltd. primarily engages in the sale and dispensing of medications, cosmetics, and various everyday consumer products across Japan....
How the Company Makes Money
The company primarily makes money through retail sales at its drugstore locations and related pharmacy operations. Key revenue streams include: (1) in-store retail sales of over-the-counter pharmaceuticals and quasi-drugs, health and beauty items ...
KUSURI NO AOKI HOLDINGS CO.,LTD. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
56
Neutral
Cash Flow
48
Neutral
| Breakdown | May 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 566.87B | 501.47B | 436.88B | 378.87B | 328.33B |
| Gross Profit | 135.03B | 120.47B | 106.29B | 94.64B | 80.98B |
| EBITDA | 42.87B | 39.18B | 32.00B | 28.74B | 23.76B |
| Net Income | 17.13B | 17.79B | 12.31B | 12.33B | 9.84B |
Balance Sheet | |||||
| Total Assets | 410.94B | 352.46B | 303.45B | 276.33B | 236.08B |
| Cash, Cash Equivalents and Short-Term Investments | 58.93B | 47.73B | 49.13B | 42.87B | 26.35B |
| Total Debt | 149.77B | 99.32B | 98.78B | 89.50B | 78.13B |
| Total Liabilities | 269.90B | 206.70B | 186.03B | 177.78B | 149.14B |
| Stockholders Equity | 141.04B | 145.76B | 117.42B | 98.55B | 86.93B |
Cash Flow | |||||
| Free Cash Flow | 3.84B | 448.00M | 7.20B | 10.84B | -6.26B |
| Operating Cash Flow | 37.32B | 22.17B | 26.86B | 31.25B | 20.29B |
| Investing Cash Flow | -42.88B | -31.08B | -21.10B | -22.26B | -27.77B |
| Financing Cash Flow | 16.49B | 7.67B | 344.00M | 7.53B | 18.10B |
KUSURI NO AOKI HOLDINGS CO.,LTD. Technical Analysis
Negative
3780.00
Price Trends
4004.20
Negative
3846.19
Negative
3888.35
Negative
Market Momentum
-62.23
Positive
32.80
Neutral
2.65
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3549, the sentiment is Negative. The current price of 3780 is below the 20-day moving average (MA) of 4012.90, below the 50-day MA of 4004.20, and below the 200-day MA of 3888.35, indicating a bearish trend. The MACD of -62.23 indicates Positive momentum. The RSI at 32.80 is Neutral, neither overbought nor oversold. The STOCH value of 2.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3549.
KUSURI NO AOKI HOLDINGS CO.,LTD. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥205.78B | 12.26 | ― | 2.86% | 8.76% | 8.19% | |
69 Neutral | ¥414.61B | 13.20 | 11.15% | 3.69% | 4.32% | 0.18% | |
69 Neutral | ¥488.34B | 15.05 | ― | 1.33% | 8.72% | 3.45% | |
64 Neutral | ¥951.73B | 16.20 | 7.67% | 2.22% | ― | ― | |
62 Neutral | ¥481.13B | 14.61 | 10.75% | 2.00% | 12.20% | -25.42% | |
54 Neutral | ¥356.84B | 20.61 | ― | 0.40% | 13.04% | -0.05% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JP:3549
KUSURI NO AOKI HOLDINGS CO.,LTD.
3,685.00
-175.30
-4.54%
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KUSURI NO AOKI HOLDINGS CO.,LTD. Corporate Events
Kusuri No Aoki Reports No Activity in Ongoing Share Buyback Program
Sep 4, 2026
Kusuri No Aoki Holdings Co., Ltd. is a Japanese drugstore and retail pharmacy operator, selling pharmaceuticals and daily consumer goods through a chain-store model. The company is listed on the Tokyo Stock Exchange Standard and Nagoya Stock Excha...
Kusuri no Aoki Posts Strong August Sales and Expands Store Network Nationwide
Sep 4, 2026
Kusuri no Aoki Holdings reported solid performance for August 2026, with all-store sales rising 10.7% year on year and existing-store sales up 0.7%, driven by higher customer traffic and steady gains in average spending per customer. The figures, ...
Kusuri No Aoki Reports No Share Buybacks in July Under Ongoing Program
Aug 5, 2026
Kusuri No Aoki Holdings Co., Ltd. operates in Japan’s drugstore and retail pharmacy industry, selling pharmaceuticals, daily necessities and related consumer goods. The company is listed on the Tokyo Stock Exchange Standard and Nagoya Stock ...
Kusuri No Aoki Posts Strong July Sales and Expands Pharmacy Network
Aug 5, 2026
Kusuri No Aoki Holdings reported July 2026 all-store sales at 109.6% year-on-year, with existing stores returning to modest growth at 100.3%, driven by higher average spending per customer even as traffic gains remained more subdued. The figures, ...
Kusuri no Aoki Revamps Board with New Internal and Outside Directors
Jul 16, 2026
Kusuri no Aoki Holdings has nominated a new internal director and several outside directors as part of a leadership reshuffle to be decided at its upcoming annual general meeting in August. The move underscores the company’s focus on reinfor...
Kusuri no Aoki Sets Governance Proposals for August Shareholders’ Meeting
Jul 16, 2026
Kusuri no Aoki Holdings has approved proposals for its 28th Annual General Meeting of Shareholders, scheduled for August 19, 2026, as part of its regular corporate governance cycle. The agenda includes the election of 11 directors and the appointm...
Kusuri no Aoki Marks 40th Anniversary With Sharply Higher Year-End Dividend
Jul 2, 2026
KUSURI NO AOKI HOLDINGS CO., LTD. has approved a year-end dividend of ¥48 per share for the fiscal year ended May 20, 2026, comprising an ordinary dividend of ¥8 and a commemorative dividend of ¥40. The total payout of approximately...
Kusuri No Aoki Reports No Buybacks in June Under Ongoing Share Repurchase Plan
Jul 2, 2026
Kusuri No Aoki Holdings Co., Ltd. reported on the status of its ongoing share repurchase program authorized by the board in December 2025, which allows market purchases of up to 6 million common shares, or about 6.32% of outstanding stock, for a m...
Kusuri no Aoki Posts June Sales Growth and Accelerates Store Openings
Jul 2, 2026
Kusuri no Aoki Holdings reported June 2026 all-store sales at 107.3% year on year, driven by a 106.4% rise in customer traffic and a slight increase in average spending per customer, while existing-store sales slipped to 97.5% amid softer traffic....
Kusuri No Aoki Lifts Sales and Dividends as Equity Ratio Slips
Jul 2, 2026
Kusuri No Aoki Holdings reported consolidated net sales of ¥566.9 billion for the fiscal year ended May 20, 2026, up 13.0% year on year, while operating profit edged up 1.9% to ¥27.1 billion and profit attributable to owners of parent sl...
Kusuri no Aoki Shifts to TSE Standard Market, Adds Nagoya Listing
Jun 12, 2026
Kusuri no Aoki Holdings has received approval to transfer its share listing from the Tokyo Stock Exchange Prime Market to the Standard Market, effective June 19, 2026, while also securing a dual listing on the Nagoya Stock Exchange Main Market. Th...
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.