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Medipal HoldingsMEDIPAL HOLDINGS CORPORATION7459東証プライム卸売業FY ending Mar 2026, consolidated, J-GAAP

Medipal Holdings FY ending Mar 2026 results

About 65% of Medipal Holdings's sales come from Prescription Pharmaceutical Wholesale Business, with Cosmetics, Daily Necessities and OTC Pharmaceutical Wholesale Business and Animal Health Products and Food Processing Raw Materials Wholesale and Related Business making up much of the rest.

Out of every ¥100 of sales, about ¥1 is left as operating profit.

Revenue changed +4.0% from the prior year, operating profit -4.4%.

Revenue and profit pattern

Revenue up, profit downRevenue grew faster

Revenue +4.0% · profit -4.4%, calculated from disclosed figures.

Operating leverage: -1.10× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+4.0%¥3.67T → ¥3.82T
Gross profit
+2.0%¥255.8B → ¥261B
Operating income
-4.4%¥55.6B → ¥53.2B
Net income attributable to owners
+5.6%¥40.3B → ¥42.5B
Operating cash flow
-23.1%¥60.6B → ¥46.6B
Free cash flow
-23.4%¥48.1B → ¥36.9B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥3.82T, up 4.0% from ¥3.67T, with every business growing its sales.
  • Gross profit also rose 2.0%, but higher SG&A pushed operating income down 4.4%, from ¥55.6B to ¥53.2B.
  • Gains on selling investment securities helped lift net income 5.6% to ¥42.5B.
  • Operating cash flow came to ¥46.6B, down 23.1% from ¥60.6B.

What drove the change

  • Prescription drug sales grew on specialty medicines and more sales to hospitals and dispensing pharmacies, but NHI drug price revisions raised purchase costs and thinned the gross margin.
  • Cosmetics and household goods grew with new higher-value products, but spending on staff and rising unit costs for delivery and warehouse labor increased SG&A, so profit fell.
  • Higher business investment costs in prescription drug wholesale also weighed on operating income.

Things to watch

  • Drug prices set by the national health insurance are now revised every year; lower selling prices to medical institutions would hurt the prescription drug business.
  • Prescription drugs are often delivered before prices are agreed, so any gap between the estimated and final price affects results.
  • A shrinking population makes logistics staff harder to hire, and labor costs could rise sharply.

Annual Securities Report, 117th fiscal period / Management's analysis of financial position, operating results and cash flows · Annual Securities Report, 117th fiscal period / Business and other risks

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

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

FY ending Mar 2026
Cost of sales
¥93
SG&A
¥6
Operating profit
¥1
Net profit kept
¥1

Annual margin trends

Gross margin6.8%
FY ending Mar 2021: 6.7%6.7%FY ending Mar 2022: 6.6%6.6%FY ending Mar 2023: 6.7%6.7%FY ending Mar 2024: 6.9%6.9%FY ending Mar 2025: 7.0%7.0%FY ending Mar 2026: 6.8%6.8%FY21FY22FY23FY24FY25FY26
Operating margin1.4%
FY ending Mar 2021: 1.2%1.2%FY ending Mar 2022: 1.4%1.4%FY ending Mar 2023: 1.5%1.5%FY ending Mar 2024: 1.3%1.3%FY ending Mar 2025: 1.5%1.5%FY ending Mar 2026: 1.4%1.4%FY21FY22FY23FY24FY25FY26
Net margin1.1%
FY ending Mar 2021: 0.7%0.7%FY ending Mar 2022: 0.9%0.9%FY ending Mar 2023: 1.2%1.2%FY ending Mar 2024: 1.2%1.2%FY ending Mar 2025: 1.1%1.1%FY ending Mar 2026: 1.1%1.1%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 Mar 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117期(2025/04/01－2026/03/31)

    ID S100YI1C2026-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第116期(2024/04/01－2025/03/31)

    ID S100W5ET2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第115期(2023/04/01－2024/03/31)

    ID S100TRUJ2024-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第114期(2022/04/01－2023/03/31)

    ID S100R51F2023-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第113期(令和3年4月1日－令和4年3月31日)

    ID S100OE942022-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第112期(令和2年4月1日－令和3年3月31日)

    ID S100LQHX2021-06-25Open

Extracted from XBRL: 52 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

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