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Tsuruha Holdings (3391) investor relations material

Tsuruha Holdings Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary14 Oct, 2025

Executive summary

  • Net sales for FY2/26 1H reached ¥557.8bn, with operating income at ¥28.4bn and net income at ¥20.4bn, driven by strong pharmaceuticals, food, and dispensing pharmacy growth, and effective SG&A control.

  • Existing store sales increased 2.1% year-on-year, with notable growth in dispensing pharmacy sales and strong performance in food and daily goods.

  • The period saw 53 new store openings and 35 closures, resulting in a net increase of 18 stores and 2,676 directly managed stores at period-end.

  • Ongoing preparations for business integration with WELCIA HOLDINGS and AEON, scheduled for December 1, 2025; post-merger vision and strategy to be announced in early 2026.

Financial highlights

  • Net sales: ¥557.8bn (100.2% of plan); operating income: ¥28.4bn (111.1% of plan); net income: ¥20.4bn (133.1% of plan); gross profit margin at 30.3%.

  • Operating income increased to ¥28,444 million, and ordinary income to ¥28,818 million.

  • Net income attributable to owners rose to ¥20,365 million, with basic EPS of ¥83.64 (post-stock split basis).

  • Extraordinary items included a ¥6.6bn gain on sale of investment securities and a ¥1.6bn provision for store closures.

  • Comprehensive income totaled ¥21,585 million.

Outlook and guidance

  • Full-year consolidated earnings forecast and year-end dividend remain undetermined due to the pending impact of the business integration with WELCIA HOLDINGS.

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Frequently asked questions

Tsuruha Holdings Inc. is a Japanese company operating a large chain of drugstores across Japan and parts of Asia. The company provides a wide range of products, including pharmaceuticals, health and wellness items, beauty and personal care products, household goods, and everyday essentials. Tsuruha Holdings also offers in-store healthcare services, such as pharmaceutical consultations, to support customer wellness. With a focus on convenience, the company operates stores in urban and suburban locations, providing easy access to health and lifestyle products. The company is headquartered in Sapporo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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