AIN HoldingsAIN HOLDINGS INC.9627東証プライム小売業FY ending Apr 2026, consolidated, J-GAAP

AIN Holdings FY ending Apr 2026 results

About 87% of AIN Holdings's sales come from Dispensing pharmacy, with Drug and cosmetic store making up much of the rest.

Out of every ¥100 of sales, about ¥5 is left as operating profit.

Revenue changed +41.8% from the prior year, operating profit +76.8%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +41.8% · profit +76.8%, calculated from disclosed figures.

Operating leverage: 1.84× (profit growth ÷ revenue growth)

What changed from last year

FY ending Apr 2025 → FY ending Apr 2026

Revenue
+41.8%¥456.8B → ¥647.8B
Gross profit
+46.3%¥74.4B → ¥108.9B
Operating income
+76.8%¥16.9B → ¥29.8B
Net income attributable to owners
+86.4%¥9.26B → ¥17.3B
Operating cash flow
+33.4%¥23.1B → ¥30.9B
Free cash flow
+43.8%¥11B → ¥15.8B

Results at a glance

  • Revenue for the FY ending Apr 2026 was ¥647.8B, up +41.8% from ¥456.8B.
  • Profit grew faster than sales: operating income rose +76.8% to ¥29.8B, and net income attributable to owners rose +86.4% to ¥17.3B.
  • Operating cash flow also increased, up +33.4% to ¥30.9B.

What drove the change

  • It acquired the Sakura Pharmacy group, which runs pharmacies in the Tokyo, Kansai and Tokai regions, adding a large number of stores
  • Prescriptions for expensive drugs pushed up the average value per prescription, while prescription volume held steady
  • Net income includes an extra deferred tax asset (an expected future tax saving), booked because the Sakura Pharmacy group's earnings improved more than planned
  • In retail, Asian cosmetics at AINZ&TULPE and Francfranc's handheld fans and holiday and spring sales lifted revenue

Things to watch

  • Japan tends to cut drug prices and dispensing fees step by step, and future revisions could change how the pharmacy business makes money
  • If acquired companies fall short of plan, it may have to write down goodwill
  • Acquisitions are partly funded with bank loans, so rising interest rates could increase interest costs

Annual Securities Report, 57th fiscal year / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 57th fiscal year / 事業等のリスク

Where the money goes

FY ending Apr 2025 → FY ending Apr 2026

Where ¥100 of sales goes

For every ¥100 AIN Holdings sells, how much goes where, and how much is kept.

FY ending Apr 2026
Cost of sales
¥83
SG&A
¥12
Operating profit
¥5
Net profit kept
¥3

Annual margin trends

Gross margin16.8%
FY ending Apr 2021: 15.5%15.5%FY ending Apr 2022: 15.8%15.8%FY ending Apr 2023: 15.0%15.0%FY ending Apr 2024: 14.9%14.9%FY ending Apr 2025: 16.3%16.3%FY ending Apr 2026: 16.8%16.8%FY21FY22FY23FY24FY25FY26
Operating margin4.6%
FY ending Apr 2021: 3.7%3.7%FY ending Apr 2022: 4.8%4.8%FY ending Apr 2023: 4.5%4.5%FY ending Apr 2024: 5.1%5.1%FY ending Apr 2025: 3.7%3.7%FY ending Apr 2026: 4.6%4.6%FY21FY22FY23FY24FY25FY26
Net margin2.7%
FY ending Apr 2021: 2.3%2.3%FY ending Apr 2022: 2.2%2.2%FY ending Apr 2023: 2.6%2.6%FY ending Apr 2024: 2.9%2.9%FY ending Apr 2025: 2.0%2.0%FY ending Apr 2026: 2.7%2.7%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Apr 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第57期(2025/05/01-2026/04/30)

    ID S100YSTQ2026-07-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第56期(2024/05/01-2025/04/30)

    ID S100WFSA2025-07-31Open
  • EDINET (FSA Japan)

    有価証券報告書-第55期(2023/05/01-2024/04/30)

    ID S100U4ZX2024-07-31Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第54期(2022/05/01-2023/04/30)

    ID S100SB212023-11-15Open
  • EDINET (FSA Japan)

    有価証券報告書-第53期(令和3年5月1日-令和4年4月30日)

    ID S100OTEG2022-07-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第52期(令和2年5月1日-令和3年4月30日)

    ID S100M2R12021-07-30Open

Extracted from XBRL: 51 / Derived from other figures: 1

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