Industry map/Retail, Trading & Restaurants
Drugstores & Pharmacies industry map
Who earns the money in Drugstores & Pharmacies, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 32 companies · ¥8.24T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥8.24T
- Companies
- 32
- Avg. salary（parent only）
- ¥6.3M
- Industry weather
- Sunny
YoY +15.2%
Avg. age 43.8
Operating income +13.6%
Tsuruha Holdings[3391]
- Revenue
- ¥1.45T▲71.5%
- Operating income
- ¥63B▲66.4%
Margin 4.3%
Avg. salary ¥7.4M · 44.0（parent only）
MatsukiyoCocokara & Co[3088]
Matsumoto Kiyoshi Group + 3 more
- Revenue
- ¥1.12T▲5.3%
- Operating income
- ¥101.6B▼0.3%
Margin 9.1%
Whole company: Revenue ¥1.12T · Net income ¥55.8B
Avg. salary ¥7.5M · 48.3（parent only）
COSMOS Pharmaceutical[3349]
- Revenue
- ¥1.01T▲4.8%
- Operating income
- ¥40.4B▲28.3%
Margin 4.0%
Avg. salary ¥4.9M · 31.7（parent only）
Sugi Holdings[7649]
- Revenue
- ¥1.01T▲15.1%
- Operating income
- ¥48.6B▲14.1%
Margin 4.8%
Avg. salary ¥8.3M · 44.5（parent only）
Kusuri NO Aoki Holdings[3549]
- Revenue
- ¥501.5B▲14.8%
- Operating income
- ¥26.6B▲43.3%
Margin 5.3%
Avg. salary ¥5.3M · 35.4（parent only）
Sundrug[9989]
Drug store
- Revenue
- ¥478.4B▲4.1%
- Operating income
- ¥27.5B▲3.1%
Margin 5.7%
Whole company: Revenue ¥842.5B · Net income ¥31.4B
Avg. salary ¥5.9M · 34.0（parent only）
Create SD Holdings[3148]
- Revenue
- ¥457.1B▲8.2%
- Operating income
- ¥22.6B▲11.9%
Margin 4.9%
Avg. salary ¥10.4M · 51.3（parent only）
AIN Holdings[9627]
Dispensing pharmacy + 1 more
- Revenue
- ¥445.8B▲14.7%
- Operating income
- ¥29.1B▼5.2%
Margin 6.5%
Whole company: Revenue ¥456.8B · Net income ¥9.26B
Avg. salary ¥7.5M · 43.8（parent only）
Cawachi[2664]
- Revenue
- ¥284.5B▼1.2%
- Operating income
- ¥6.78B▼9.1%
Margin 2.4%
Avg. salary ¥5.6M · 37.0（parent only）
Genky DrugStores[9267]
- Revenue
- ¥200.8B▲8.6%
- Operating income
- ¥9.66B▲7.1%
Margin 4.8%
Valor Holdings[9956]
Drugstore business
- Revenue
- ¥184.5B▲4.0%
- Operating income
- ¥3.78B▼5.8%
Margin 2.1%
Whole company: Revenue ¥896.2B · Net income ¥16.5B
Avg. salary ¥7.4M · 45.1（parent only）
Qol Holdings[3034]
Health insurance pharmacy
- Revenue
- ¥177.5B▲3.4%
- Operating income
- ¥9.73B▼3.0%
Margin 5.5%
Whole company: Revenue ¥290.8B · Net income ¥7.41B
Avg. salary ¥7.2M · 45.8（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Yakuodo Holdings · Medical System Network · Toho Holdings · Satudora Holdings · Suzuken · Tokai · Pharmarise Holdings · Alfresa Holdings · Ship Healthcare Holdings · Medical Ikkou Group · Kamei · Vital KSK Holdings · Falco Holdings · Yamazawa · HOKUYAKU TAKEYAMA Holdings · Miahelsa Holdings · Hyuga Primary Care · Axas Holdings · Sophia Holdings · Chukyoiyakuhin
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1▲3 | Tsuruha Holdings | ¥1.45T | 17.6% | 4.3% | +41.2% | ¥56.1B |
| 2▼1 | MatsukiyoCocokara & CoMatsumoto Kiyoshi Group + 3 more | ¥1.12T | 13.6% | 9.1% | +11.2% | ¥53.1B |
| 3▼1 | COSMOS Pharmaceutical | ¥1.01T | 12.3% | 4.0% | +8.6% | -¥859M |
| 4▼1 | Sugi Holdings | ¥1.01T | 12.3% | 4.8% | +12.7% | ¥61B |
| 5▲1 | Kusuri NO Aoki Holdings | ¥501.5B | 6.1% | 5.3% | +13.2% | -¥43M |
| 6▼1 | SundrugDrug store | ¥478.4B | 5.8% | 5.7% | +6.0% | ¥12.2B |
| 7 | Create SD Holdings | ¥457.1B | 5.5% | 5.0% | +7.8% | ¥5.97B |
| 8 | AIN HoldingsDispensing pharmacy + 1 more | ¥445.8B | 5.4% | 6.5% | +12.1% | ¥11B |
| 9 | Cawachi | ¥284.5B | 3.5% | 2.4% | +0.4% | ¥4.54B |
| 10 | Genky DrugStores | ¥200.8B | 2.4% | 4.8% | +9.0% | -¥2.51B |
| 11 | Valor HoldingsDrugstore business | ¥184.5B | 2.2% | 2.1% | +4.9% | ¥9.61B |
| 12 | Qol HoldingsHealth insurance pharmacy | ¥177.5B | 2.2% | 5.5% | +3.8% | ¥10.6B |
| 13 | Yakuodo Holdings | ¥163.8B | 2.0% | 3.2% | +8.0% | -¥8.93B |
| 14 | Medical System NetworkCommunity pharmacy network segment | ¥127.1B | 1.5% | 4.7% | +5.8% | -¥6.3B |
| 15 | Toho HoldingsDispensing pharmacy | ¥100.5B | 1.2% | 1.4% | +2.3% | ¥9.73B |
| 16▲1 | Satudora HoldingsRetail business | ¥98.4B | 1.2% | 1.6% | +4.4% | ¥771M |
| 17▼1 | SuzukenThe community healthcare and nursing care support business | ¥93.9B | 1.1% | 1.7% | — | ¥15.7B |
| 18 | TokaiDispensing service | ¥62.9B | 0.8% | 3.9% | +7.8% | ¥7.37B |
| 19 | Pharmarise HoldingsDispensing pharmacy + 1 more | ¥61.3B | 0.7% | 0.9% | +5.0% | ¥609M |
| 20 | Alfresa HoldingsDispensing Pharmacy and Related businesses | ¥37.2B | 0.5% | 1.3% | — | ¥10B |
| 21 | Ship Healthcare HoldingsDispensing pharmacy | ¥34.7B | 0.4% | 11.6% | +4.6% | ¥17.4B |
| 22 | Medical Ikkou GroupDispensing pharmacy | ¥26.3B | 0.3% | 5.2% | +3.7% | ¥656.2M |
| 23 | KameiPharmacy | ¥20.4B | 0.2% | -0.4% | +3.6% | ¥17.6B |
| 24 | Vital KSK HoldingsPharmacy Business | ¥20B | 0.2% | 1.3% | +2.1% | -¥435M |
| 25 | Falco HoldingsDispensing Pharmacy Business | ¥15.2B | 0.2% | 4.4% | -1.8% | ¥1.28B |
| 26 | YamazawaDrugstore business | ¥13.1B | 0.2% | -0.8% | -0.2% | ¥4.88B |
| 27 | HOKUYAKU TAKEYAMA HoldingsDispensing industry | ¥12.6B | 0.2% | -0.8% | -2.0% | -¥768M |
| 28 | Miahelsa HoldingsMedicine business | ¥9.95B | 0.1% | 5.1% | +3.2% | ¥513.8M |
| 29 | Hyuga Primary CareHome visit pharmacist service + 1 more | ¥9.66B | 0.1% | 14.7% | — | -¥15.3M |
| 30 | Axas HoldingsRetail sale business | ¥7.36B | 0.1% | 2.1% | -2.1% | -¥2.08B |
| 31 | Sophia HoldingsDispensing pharmacy and related business | ¥6.96B | 0.1% | 5.2% | — | ¥29.8M |
| 32 | ChukyoiyakuhinRetail division | ¥3.9B | 0.0% | 1.9% | -0.4% | ¥58.3M |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- MatsukiyoCocokara & Co65287
- Sundrug7420
- Tokai7618
- Falco Holdings6826
- Sugi Holdings6827
- Kusuri NO Aoki Holdings7421
- Create SD Holdings7421
- Genky DrugStores8015
- Qol Holdings869
- Tsuruha Holdings7026
- COSMOS Pharmaceutical7917
- AIN Holdings8412
- Valor Holdings7327
- Yakuodo Holdings7918
- Medical System Network5938
- Ship Healthcare Holdings91
- Medical Ikkou Group889
- Kamei8314
- Cawachi7721
- Satudora Holdings7424
- Suzuken92
- Toho Holdings927
- Alfresa Holdings93
- Vital KSK Holdings927
- Pharmarise Holdings8614
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- 株式会社メディパルホールディングスOutside
- AffiliateQol Holdings20.2%
- SuzukenIn industry
- AffiliatePharmarise Holdings20.1%
- 株式会社シーユーシーOutside
- StakeHyuga Primary Care11.8%
- 株式会社ビー・エム・エルOutside
- StakeFalco Holdings9.8%
- エムスリー株式会社Outside
- StakeHyuga Primary Care9.8%
- ハウス食品グループ本社株式会社Outside
- StakeMedical Ikkou Group9.6%
- 塩野義製薬株式会社Outside
- StakeToho Holdings5.4%
- 株式会社北洋銀行Outside
- StakeAIN Holdings4.9%
- StakeHOKUYAKU TAKEYAMA Holdings3.9%
- 第一三共株式会社Outside
- StakeQol Holdings3.5%
- 株式会社千葉銀行Outside
- StakeMatsukiyoCocokara & Co3.4%
- 株式会社山形銀行Outside
- StakeYamazawa3.3%
- 松本油脂製薬株式会社Outside
- StakeFalco Holdings3.0%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
- Tsuruha Holdings vs MatsukiyoCocokara & Co
- Tsuruha Holdings vs COSMOS Pharmaceutical
- Tsuruha Holdings vs Sugi Holdings
- MatsukiyoCocokara & Co vs COSMOS Pharmaceutical
- MatsukiyoCocokara & Co vs Sugi Holdings
- COSMOS Pharmaceutical vs Sugi Holdings
- Tsuruha Holdings vs MatsukiyoCocokara & Co vs COSMOS Pharmaceutical vs Sugi Holdings
All companies in Drugstores & Pharmacies (by revenue)
All 32 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Tsuruha Holdings¥1.45T · 4.3%
- MatsukiyoCocokara & Co¥1.12T · 9.1%
- COSMOS Pharmaceutical¥1.1T · 3.9%
- Sugi Holdings¥1.01T · 4.8%
- AIN Holdings¥636.7B · 6.6%
- Kusuri NO Aoki Holdings¥566.9B · 4.8%
- Create SD Holdings¥497.1B · 4.8%
- Sundrug¥478.4B · 5.7%
- Cawachi¥284.5B · 2.4%
- Genky DrugStores¥220.6B · 5.0%
- Valor Holdings¥184.5B · 2.1%
- Qol Holdings¥177.5B · 5.5%
- Yakuodo Holdings¥163.8B · 3.2%
- Medical System Network¥127.1B · 4.7%
- Toho Holdings¥100.5B · 1.4%
- Satudora Holdings¥98.4B · 1.1%
- Suzuken¥93.9B · 1.7%
- Pharmarise Holdings¥67.4B · 1.9%
- Tokai¥62.9B · 3.9%
- Alfresa Holdings¥37.2B · 1.3%
- Ship Healthcare Holdings¥34.7B · 11.6%
- Medical Ikkou Group¥26.3B · 5.2%
- Kamei¥20.4B · -0.4%
- Vital KSK Holdings¥20B · 1.3%
- Falco Holdings¥15.2B · 4.4%
- Yamazawa¥13.1B · -0.8%
- HOKUYAKU TAKEYAMA Holdings¥12.6B · -0.8%
- Miahelsa Holdings¥9.95B · 5.1%
- Hyuga Primary Care¥9.66B · 14.7%
- Axas Holdings¥7.36B · 2.1%
- Sophia Holdings¥6.96B · 5.2%
- Chukyoiyakuhin¥3.9B · 1.9%
Revenue · Op. margin
Related industries
- General Trading Companies
- Specialty Trading & Wholesale
- Convenience Stores
- Supermarkets
- Department Stores
- Electronics Retailers
- Home Centers
- Furniture, Interior & Lifestyle Goods
- Apparel
- Baby & Kids Goods
- Outdoor & Sporting Goods Stores
- Catalog & TV Shopping
- Secondhand Retail
- Restaurants & Pubs
- Fast Food & Quick Service
- Cafés
- Takeout & Delivery Meals
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