# Sugi Holdings vs Tsuruha Holdings

> Unit: JPY millions (ratios in %)
> Periods: Sugi Holdings = FY ending Feb 2026, consolidated, J-GAAP / Tsuruha Holdings = FY ending Feb 2026, consolidated, J-GAAP
> Retrieved: 2026-09-30T22:27:27.258Z

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

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

## Company details

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