7649
SUGI HOLDINGS CO.,LTD.
スギホールディングス株式会社
Retail Trade
Sugi Holdings Co.,Ltd. operates drugstores in Japan. The company also provides self-care support services, including meal delivery, cancer and other health checkups, specific health guidance, health information, and community comprehensive agreements; health care support, such as medicine support, home-visit dispensing and nursing, prevention programs, shopping assistance, and mobility support services. In addition, it engages in drugstore operation, dispensing pharmacy operation, medical consultation, business in foreign countries, Chinese medicine pharmacy operations, disease prevention and health support, promotion of disabled employment, home visit nursing and elderly home-care support, support for commencement of medical practice, comprehensive staff agency service, and support business for pharmacy operations. Sugi Holdings Co.,Ltd. was founded in 1976 and is headquartered in Obu, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥1,010.3B
¥878.0B
¥744.5B
¥667.6B
¥625.5B
Cost of Sales
¥689.1B
¥603.0B
¥515.6B
¥465.1B
¥434.0B
Gross Profit
¥321.2B
¥275.0B
¥228.8B
¥202.5B
¥191.5B
SG&A
¥272.6B
¥232.5B
¥192.2B
¥170.9B
¥159.4B
Operating Income
¥48.6B
¥42.6B
¥36.6B
¥31.7B
¥32.1B
Non-Operating Income
¥6.0B
¥5.2B
¥3.8B
¥3.0B
¥3.1B
Dividend Income
¥34M
¥37M
¥16M
¥2M
¥2M
Interest Income
¥625M
¥923M
¥602M
¥160M
¥84M
Non-Operating Expenses
¥4.5B
¥5.8B
¥2.4B
¥2.2B
¥2.2B
Interest Expense
¥881M
¥227M
¥15M
¥16M
¥19M
Ordinary Income
¥50.1B
¥42.0B
¥38.0B
¥32.4B
¥33.1B
Pre-tax Income
¥45.2B
¥38.1B
¥32.1B
¥28.2B
¥27.5B
Income Taxes
¥194M
¥12.4B
¥10.1B
¥9.2B
¥8.1B
Current Tax
¥9.3B
¥14.1B
¥12.6B
¥10.6B
¥9.7B
Deferred Tax
¥-9.1B
¥-1.7B
¥-2.5B
¥-1.4B
¥-1.6B
Net Income (owners)
¥45.0B
¥25.7B
¥22.0B
¥19.0B
¥19.4B
Minority Interest
¥-7M
—
—
—
—
Comprehensive Income
¥46.1B
¥25.6B
¥21.6B
¥18.8B
¥18.2B
EBITDA
¥68.7B
¥60.4B
¥50.7B
¥44.0B
¥43.4B
Goodwill Amort. (J-GAAP)
¥2.5B
¥1.3B
—
—
—
EPS
¥248.56
¥141.96
¥121.46
¥311.45
¥313.68
Shares Outstanding
181.0M
181.0M
60.3M
60.3M
61.8M
Shares Issued (total)
190.0M
190.0M
63.3M
63.3M
63.3M
Treasury Shares
9.0M
9.0M
3.0M
3.0M
1.5M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥614.5B
¥495.1B
¥390.6B
¥351.9B
¥334.8B
Current Assets
¥311.1B
¥246.5B
¥199.0B
¥200.0B
¥192.4B
Cash & Deposits
¥111.2B
¥52.8B
¥43.4B
¥62.6B
¥62.8B
Trade Receivables
¥72.5B
¥71.8B
¥44.4B
¥37.5B
¥33.6B
Inventories
¥94.4B
¥94.0B
¥83.7B
¥74.5B
¥71.6B
Non-Current Assets
¥303.4B
¥248.6B
¥191.5B
¥151.9B
¥142.3B
PP&E
¥123.3B
¥119.5B
¥107.9B
¥91.9B
¥89.4B
Goodwill
¥43.1B
¥43.7B
—
—
—
Intangible Assets
¥51.5B
¥52.1B
¥10.4B
¥8.1B
¥6.6B
Investment Securities
¥32.7B
¥13.9B
¥15.0B
¥5.5B
¥4.3B
Deferred Tax Assets
¥27.6B
¥19.2B
¥17.3B
¥14.7B
¥11.9B
Total Liabilities
¥324.0B
¥244.4B
¥157.2B
¥135.4B
¥120.9B
Current Liabilities
¥231.7B
¥216.1B
¥136.6B
¥117.0B
¥102.6B
ST Debt
¥26.8B
¥43.3B
¥316M
—
—
Taxes Payable
¥3.9B
¥7.8B
¥7.1B
¥5.0B
¥1.6B
Non-Current Liabilities
¥92.4B
¥28.3B
¥20.6B
¥18.3B
¥18.3B
Total LT Borrowings
¥67.2B
¥2.1B
¥521M
—
—
Pension Obligations
¥11.6B
¥11.7B
¥9.3B
¥8.3B
¥8.2B
Total Equity
¥290.5B
¥250.7B
¥233.4B
¥216.5B
¥213.9B
Capital Stock
¥15.4B
¥15.4B
¥15.4B
¥15.4B
¥15.4B
Capital Surplus
¥21.5B
¥21.5B
¥24.6B
¥24.6B
¥24.6B
Retained Earnings
¥270.5B
¥231.9B
¥211.3B
¥194.2B
¥182.4B
Treasury Stock
¥-18.2B
¥-18.2B
¥-18.2B
¥-18.2B
¥-9.3B
AOCI
¥1.2B
¥84M
¥183M
¥531M
¥695M
Equity (owners)
¥289.3B
¥250.6B
¥233.2B
¥216.0B
¥213.2B
Minority Interests
¥16M
—
—
—
—
Total Interest-Bearing Debt ⓘ
¥94.0B
¥45.4B
¥837M
—
—
Net Cash ⓘ
¥17.2B
¥7.4B
¥42.6B
¥62.6B
¥62.8B
NCAV ⓘ
¥-12.9B
¥2.1B
¥41.8B
¥64.6B
¥71.6B
NCAV/Share
¥-71
¥11
¥694
¥1,071
¥1,158
BV/Share
¥1,599
¥1,385
¥3,866
¥3,581
¥3,449
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥86.8B
¥36.9B
¥39.0B
¥38.3B
¥7.2B
Interest Paid
¥-593M
¥-490M
¥-13M
¥-14M
¥-16M
Interest Received
¥1.3B
¥890M
¥95M
¥94M
¥25M
D&A
¥17.7B
¥16.6B
¥14.1B
¥12.4B
¥11.3B
Goodwill Amort.
¥2.5B
¥1.3B
—
—
—
Investing CF
¥-69.6B
¥-33.3B
¥-31.0B
¥-23.3B
¥-23.9B
CapEx
¥23.1B
¥23.6B
¥30.8B
¥18.2B
¥20.7B
Purchase Investments
¥-30.4B
¥-593M
¥-10.6B
¥-2.2B
—
Financing CF
¥41.2B
¥11.6B
¥-5.3B
¥-14.2B
¥-5.3B
Dividends Paid
¥-6.3B
¥-5.1B
¥-4.8B
¥-4.9B
¥-4.9B
Share Buybacks
¥0M
¥-1M
¥0M
¥-8.9B
¥-1M
LT Debt Repaid
¥-3.1B
¥-19.1B
—
—
—
Free Cash Flow
¥63.7B
¥13.3B
¥8.2B
¥20.1B
¥-13.6B
Net Change in Cash
¥58.4B
¥15.3B
¥2.8B
¥790M
¥-22.0B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
16.6%
10.6%
9.8%
8.8%
9.4%
ROA
8.1%
5.8%
5.9%
5.5%
5.8%
EPS
¥248.56
¥141.96
¥121.46
¥311.45
¥313.68
DPS
¥35.00
¥35.00
¥80.00
¥80.00
¥80.00
BPS
¥1,604.99
¥1,385.37
¥1,289.59
¥3,590.04
¥3,460.25
FCF/Share
¥352
¥74
¥136
¥333
¥-220
NCAV/Share
¥-71
¥11
¥694
¥1,071
¥1,158
Payout Ratio
14.1%
24.7%
65.9%
25.7%
25.5%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 13
Date Activist Stake Event Flag Demands Source
2026-05-13
Sugi Shoji Co., Ltd.
40.42%
correction
Passive
—
2026-05-13
Sugi Shoji Co., Ltd.
40.42%
change
Passive
—
2026-05-07
Sugi Shoji Co., Ltd.
40.42%
+4.77%
change
Passive
—
2025-12-18
Sugi Shoji Co., Ltd.
35.65%
change
Passive
—
2025-11-19
Massachusetts Financial Services Company
6.27%
change
Passive
—
2025-05-30
Orbis Investment Management Limited
4.66%
-1.01%
change
Passive
—
2025-04-24
Orbis Investment Management Limited
5.67%
-0.42%
change
Passive
—
2024-11-22
Orbis Investment Management Limited
6.09%
-1.35%
change
Passive
—
2024-01-19
Baillie Gifford & Co
3.51%
-1.6%
change
Passive
—
2023-12-22
Orbis Investment Management Limited
7.44%
+1.16%
change
Passive
—
2023-12-21
Baillie Gifford & Co
5.11%
change
Passive
—
2023-10-20
Orbis Investment Management Limited
6.28%
+1.12%
change
Passive
—
2023-09-25
Orbis Investment Management Limited
5.16%
initial_5pct
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 2
#
Shareholder
Shares (thou.)
% of Total
1
株式会社スギ商事
67,731
37.42%
2
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
17,290
9.55%
3
株式会社スギアセット
9,057
5.00%
4
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
8,049
4.44%
5
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505223 (常任代理人 株式会社みずほ銀行決済営業部)
5,280
2.91%
6
CEP LUX-ORBIS SICAV
CEP LUX-ORBIS SICAV (常任代理人シティバンク、エヌ・エイ東京支店)
4,037
2.23%
7
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505103 (常任代理人 株式会社みずほ銀行決済営業部)
3,272
1.80%
8
STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部)
3,122
1.72%
9
SMBC日興証券株式会社
2,801
1.54%
10
J.P. MORGAN BANK LUXEMBOURG S.A. 385598 (常任代理人 株式会社みずほ銀行決済営業部)
2,753
1.52%
Domestic Nominees
14.0%
+0.8% vs 2025
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2025
Sub-custodians for foreign asset managers
Direct / Strategic
54.1%
-0.5% vs 2025
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
2026
式会社スギ商事
34.76%
37.42%
37.43%
37.42%
-0.01%
Japan Master Trust Bank
日本マスタートラスト信託銀行
10.52%
10.96%
10.29%
9.55%
-0.74%
式会社スギアセット
NEW ENTRY
—
—
—
—
5.00%
NEW
Japan Custody Bank
日本カストディ銀行
2.27%
2.93%
2.95%
4.44%
+1.49%
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505223
3.92%
3.13%
3.05%
2.91%
-0.14%
CEP LUX-ORBIS SICAV
CEP LUX-ORBIS SICAV
—
3.65%
3.11%
2.23%
-0.88%
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505103
1.36%
1.39%
1.65%
1.80%
+0.15%
STATE STREET BANK AND TRUST COMPANY 505001
—
—
1.38%
1.72%
+0.34%
SMBC日興証券
—
—
1.73%
1.54%
-0.19%
J.P. MORGAN BANK LUXEMBOURG S.A. 385598
NEW ENTRY
—
—
—
—
1.52%
NEW
同会社スギアセット
last seen 2025
Exited Top 10
—
5.00%
5.00%
—
式会社ツルハ
last seen 2025
Exited Top 10
2.10%
2.10%
1.25%
—
MSIP CLIENT SECURITIES
MSIP CLIENT SECURITIES
last seen 2024
Exited Top 10
—
1.07%
—
—
THE BANK OF NEW YORK MELLON
THE BANK OF NEW YORK MELLON 140051
last seen 2024
Exited Top 10
2.59%
1.85%
—
—
杉浦 伸哉
last seen 2023
Exited Top 10
3.13%
—
—
—
CEP LUX-ORBIS SICAV
last seen 2023
Exited Top 10
1.42%
—
—
—
杉浦 克典
last seen 2023
Exited Top 10
3.13%
—
—
—
Concentration (HHI)
ⓘ
1374
1588
1569
1560
4 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥498M
-68% since 2023
Holdings
2
+1 new
6 exited
Trend
1 unwinding
vs 2023
Held Company
FY2026
¥498M total
FY2023
¥1,551M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Great Tree Pharmacy Co., Ltd. (注)2
488
NEW
New
1,128,198
—
BIKEN TECHNO CORPORATION
㈱ビケンテクノ
10
-79.1%
↓
7,100
34
34,000
Medpia Co., Ltd.
メドピア㈱
—
−100%
Exit
—
693
551,200
TSURUHA HOLDINGS INC.
㈱ツルハホールディングス
—
−100%
Exit
—
57
6,000
日本電信電話㈱
—
−100%
Exit
—
15
4,000
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
—
−100%
Exit
—
3
3,840
Great Tree Pharmacy Co., Ltd.
—
−100%
Exit
—
743
500,000
TAISHO PHARMACEUTICAL HOLDINGS CO., LTD.
大正製薬ホールディングス㈱
—
−100%
Exit
—
6
1,290
Portfolio total
498
1,551
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding