Tsuruha Holdings (3391) Q3 2026 earnings summary

Executive summary

• Net sales for 9M FY2/26 reached ¥833,383 million, with operating income at ¥40,595 million and net income attributable to owners at ¥26,976 million, progressing in line with plan.

• Existing store sales increased 2.4% YoY, with strong performance in pharmaceuticals and food.

• The period reflects a fiscal year-end change, so YoY comparisons use reference values.

• 78 new stores were opened and 46 closed, resulting in 2,690 directly managed stores at period end.

• Major business integration with WELCIA HOLDINGS CO., LTD. was completed, creating the largest drugstore alliance in Japan.

Financial highlights

• Gross profit for 9M FY2/26 was ¥250,765 million (30.1% of sales), and net income attributable to owners was ¥26,976 million (3.2% of sales).

• Ordinary income totaled ¥40,733 million; comprehensive income was ¥30,743 million.

• Basic earnings per share were ¥110.73, post five-for-one stock split.

• Extraordinary items included a ¥6.6bn gain on sale of investment securities and a ¥1.9bn provision for loss on store closings.

• SG&A expenses ratio improved to 25.2% due to productivity gains and cost controls.

Outlook and guidance

• Full-year forecast: consolidated net sales ¥1,453,000 million, operating income ¥63,300 million, net income ¥39,500 million.

• Basic earnings per share forecasted at ¥133.66.

• Goodwill amortization from WELCIA HD integration: ¥5.5bn; gain on step acquisitions: ¥10.6bn.

• Year-end dividend per share revised to ¥23.00, with total annual dividend forecast at ¥20.7bn.