Tsuruha Holdings (Tsuruha, Welcia)

Major retail groups · 3391

The Japan read

From the company's own filing for H1 (Mar–Aug 2026) · reported 2026-10-07 · the filing

StoresIt ran 5,652 drugstores in Japan at end-August, 3,338 with pharmacy counters, after opening 53 and closing 77 in the half; 1,824 are in the Kanto region. It also has 36 stores abroad.

Other callouts in the filing

BasisRevenue more than doubled because Welcia has been consolidated since the merger on 1 December 2025; the year-earlier half is Tsuruha alone, so the growth rates do not reflect like-for-like trading.
SegmentIt is merging the two chains' buying and systems: a new private brand is in development, a shared points scheme and app are being prepared, and some categories move to common merchandising from the second half.
OutlookFull-year guidance is unchanged: revenue of ¥2,555.0bn (+76.1%), operating profit of ¥99.4bn (+57.7%) and net income of ¥41.5bn (−2.7%).

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

Show figures in

H1 (Mar–Aug 2026) · Year-to-Date

Reported 2026-10-07

Net sales¥1,275.5bn+128.7%

Operating profit¥54.8bn+92.6%

Net income¥30.3bn+48.5%

Tsuruha, which merged with Welcia in December 2025, runs 5,652 drugstores across Japan. In March–August 2026 revenue rose 128.7% to ¥1,275.5bn, operating profit 92.6% to ¥54.8bn and net income 48.5% to ¥30.3bn — growth that mostly reflects adding Welcia.