# Tsuruha Holdings vs Sugi Holdings

> Unit: JPY millions (ratios in %)
> Periods: Tsuruha Holdings = FY ending Feb 2026, consolidated, J-GAAP / Sugi Holdings = FY ending Feb 2026, consolidated, J-GAAP
> Retrieved: 2026-09-30T20:36:54.135Z

| Metric | Tsuruha Holdings | Sugi Holdings |
| --- | ---: | ---: |
| Revenue | 1,450,585 | 1,010,336 |
| Operating income | 63,037 | 48,568 |
| Net income | 42,670 | 44,982 |
| COGS ratio | 69.4% | 68.2% |
| Operating margin | 4.3% | 4.8% |
| Net margin | 2.9% | 4.5% |
| FCF margin | 3.9% | 6.0% |
| Period | FY ending Feb 2026 | FY ending Feb 2026 |
| Source | S100Y5EY | S100Y3QN |

## 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 | Tsuruha Holdings | Sugi Holdings |
| --- | ---: | ---: |
| Revenue growth | — | 65.6 (16 peers) |
| Profitability | 50 (19 peers) | 65.8 (19 peers) |
| Cash conversion | 63.9 (18 peers) | 91.7 (18 peers) |
| Efficiency | 13.2 (19 peers) | 65.8 (19 peers) |
| Financial strength | — | — |

## Company details

- https://vizora.meequs.com/en/company/tsuruha-holdings/md
- https://vizora.meequs.com/en/company/sugi-holdings/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).