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KUSURI NO AOKI HOLDINGS CO.,LTD.
(3549)
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Rating:56Neutral
Price Target:
¥4,543.00
▲(20.19% Upside)
Action:Reiterated
Date:10/03/26
The score is held back primarily by financial performance: a sharp 2026 revenue decline, higher leverage, and volatile free cash flow outweigh the otherwise steady profitability and positive operating cash flow. Technicals are moderately supportive with the stock above key moving averages, but negative MACD and a higher RSI temper the trend. Valuation is middling (P/E ~22) with a low dividend yield, providing limited cushion.
Positive Factors
Multi-year Revenue Expansion
Strong revenue expansion across several years indicates meaningful store-network or customer demand growth rather than a single-period effect. This provides a durable base for operating leverage, supports ongoing reinvestment, and can strengthen the company’s position in Japan’s drugstore retail market.
Negative Factors
Latest Revenue Decline
The sharp latest-period revenue decline interrupts the company’s prior multi-year expansion and signals weaker near-term business momentum. If sustained, lower sales would reduce the retailer’s ability to spread fixed operating costs, support profit growth, and fund expansion from internally generated earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Revenue Expansion
Strong revenue expansion across several years indicates meaningful store-network or customer demand growth rather than a single-period effect. This provides a durable base for operating leverage, supports ongoing reinvestment, and can strengthen the company’s position in Japan’s drugstore retail market.
Read all positive factors
KUSURI NO AOKI HOLDINGS CO.,LTD. (3549) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥423.48B
Dividend Yield0.33%
Average Volume (3M)327.46K
Price to Earnings (P/E)21.6
Beta (1Y)0.47
Revenue Growth12.54%
EPS Growth15.87%
CountryJP
Employees6,355
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)199.31
Shares Outstanding95,616,980
10 Day Avg. Volume214,260
30 Day Avg. Volume327,460
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)220.41
Revenue Forecast (FY)¥637.83B
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 makes money primarily through retail sales generated at its drugstore locations. Revenue is earned from the sale of (1) prescription-related products and services (e.g., dispensing associated with pharmacies) and (2) front-of-store mer...
KUSURI NO AOKI HOLDINGS CO.,LTD. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
56
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | May 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 586.17B | 566.87B | 501.47B | 436.88B | 378.87B | 328.33B |
| Gross Profit | 139.66B | 135.03B | 120.47B | 106.29B | 94.64B | 80.98B |
| EBITDA | 45.60B | 42.87B | 39.18B | 32.00B | 28.74B | 23.76B |
| Net Income | 18.97B | 17.13B | 17.79B | 12.31B | 12.33B | 9.84B |
Balance Sheet | ||||||
| Total Assets | 406.45B | 410.94B | 352.46B | 303.45B | 276.33B | 236.08B |
| Cash, Cash Equivalents and Short-Term Investments | 58.99B | 58.93B | 47.73B | 49.13B | 42.87B | 26.35B |
| Total Debt | 143.57B | 149.77B | 99.32B | 98.78B | 89.50B | 78.13B |
| Total Liabilities | 261.41B | 269.90B | 206.70B | 186.03B | 177.78B | 149.14B |
| Stockholders Equity | 145.04B | 141.04B | 145.76B | 117.42B | 98.55B | 86.93B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.84B | 448.00M | 7.20B | 10.84B | -6.26B |
| Operating Cash Flow | 0.00 | 37.32B | 22.17B | 26.86B | 31.25B | 20.29B |
| Investing Cash Flow | 0.00 | -42.88B | -31.08B | -21.10B | -22.26B | -27.77B |
| Financing Cash Flow | 0.00 | 16.49B | 7.67B | 344.00M | 7.53B | 18.10B |
KUSURI NO AOKI HOLDINGS CO.,LTD. Technical Analysis
Positive
3780.00
Price Trends
4105.44
Positive
3937.75
Positive
3933.04
Positive
Market Momentum
86.11
Negative
62.06
Neutral
61.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3549, the sentiment is Positive. The current price of 3780 is below the 20-day moving average (MA) of 4158.05, below the 50-day MA of 4105.44, and below the 200-day MA of 3933.04, indicating a bullish trend. The MACD of 86.11 indicates Negative momentum. The RSI at 62.06 is Neutral, neither overbought nor oversold. The STOCH value of 61.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥428.99B | 13.49 | 11.15% | 3.65% | 4.32% | 0.18% | |
68 Neutral | ¥206.09B | 12.55 | ― | 2.98% | 8.67% | 3.24% | |
64 Neutral | ¥1.01T | 17.63 | 7.13% | 2.16% | ― | ― | |
62 Neutral | ¥491.04B | 15.33 | 9.94% | 1.40% | 8.97% | -29.54% | |
58 Neutral | ¥507.93B | 15.74 | ― | 1.37% | 8.99% | 3.61% | |
56 Neutral | ¥423.48B | 21.62 | ― | 1.83% | 12.54% | 15.87% | |
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.
4,429.00
475.08
12.02%
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KUSURI NO AOKI HOLDINGS CO.,LTD. Corporate Events
Kusuri no Aoki posts robust September sales and accelerates store expansion
Oct 1, 2026
Kusuri no Aoki Holdings reported strong September sales for the fiscal year ending May 2027, with all-store sales up 12.8% year on year and existing-store sales rising 2.4%, driven by higher customer traffic and increased average spending per cust...
Kusuri no Aoki posts robust Q1 earnings and keeps strong full-year forecast
Oct 1, 2026
Kusuri no Aoki Holdings reported strong first-quarter results for the three months to August 20, 2026, with net sales up 13.8% to ¥159.0 billion and operating profit rising 16.0% to ¥8.4 billion. Profit attributable to owners of the pare...
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...
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.