# Medipal Holdings vs Alfresa Holdings vs Hanwa vs Suzuken

> Unit: JPY millions (ratios in %)
> Periods: Medipal Holdings = FY ending Mar 2026, consolidated, J-GAAP / Alfresa Holdings = FY ending Mar 2026, consolidated, J-GAAP / Hanwa = FY ending Mar 2026, consolidated, J-GAAP / Suzuken = FY ending Mar 2026, consolidated, J-GAAP
> Retrieved: 2026-09-30T22:46:31.037Z

| Metric | Medipal Holdings | Alfresa Holdings | Hanwa | Suzuken |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 3,817,354 | 3,104,064 | 2,662,669 | 2,486,647 |
| Operating income | 53,182 | 36,164 | 58,444 | 36,374 |
| Net income | 42,534 | 41,746 | 38,265 | 38,136 |
| COGS ratio | 93.2% | 93.0% | 94.7% | 92.3% |
| Operating margin | 1.4% | 1.2% | 2.2% | 1.5% |
| Net margin | 1.1% | 1.3% | 1.4% | 1.5% |
| FCF margin | 1.0% | 0.3% | 2.6% | 0.6% |
| Period | FY ending Mar 2026 | FY ending Mar 2026 | FY ending Mar 2026 | FY ending Mar 2026 |
| Source | S100YI1C | S100YH29 | S100YED6 | S100YFRU |

## Five-axis industry profile

Each axis shows a rank within that company's primary industry, so peer groups may differ. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

| Axis | Medipal Holdings | Alfresa Holdings | Hanwa | Suzuken |
| --- | ---: | ---: | ---: | ---: |
| Revenue growth | 32.7 (179 peers) | 33.2 (179 peers) | 77.4 (179 peers) | 31 (179 peers) |
| Profitability | 21.4 (185 peers) | 14.9 (185 peers) | 37.6 (185 peers) | 22.4 (185 peers) |
| Cash conversion | 42.2 (179 peers) | 56.1 (179 peers) | 67.3 (179 peers) | 47.2 (179 peers) |
| Efficiency | 77 (185 peers) | 79.2 (185 peers) | 83.5 (185 peers) | 81.4 (185 peers) |
| Financial strength | — | — | 22.5 (20 peers) | — |

## Company details

- https://vizora.meequs.com/en/company/medipal-holdings/md
- https://vizora.meequs.com/en/company/alfresa-holdings/md
- https://vizora.meequs.com/en/company/hanwa/md
- https://vizora.meequs.com/en/company/suzuken/md

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).