Overview
Wholesale Trade

TOHO HOLDINGS CO.,LTD.

Toho Holdings operates a vertically integrated healthcare group centered on pharmaceutical wholesale, dispensing pharmacy, and pharmaceutical manufacturing and sales. Through its core subsidiary Toho Yakuhin and related companies, the group supplies pharmaceuticals and medical-related products from manufacturers to hospitals, clinics, and dispensing pharmacies across Japan. The group also operates retail dispensing pharmacies, manufactures and sells generic pharmaceuticals through Kyosokenrai Pharma Co., Ltd., and provides adjacent services including healthcare IT systems, clinical pharmacology research, and e-health retail platforms.

Market Cap
¥260B
US$1.66B
EV
¥100B
US$640M
Stock¥3,985▼-0.57%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
4.7
x
LTM EV/EBIT
6.6
x
LTM PER
15.9
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-43.7%pt
1001
Oct 23, 25 – Oct 23, 26StockTOPIX
1Aug 5, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
260BUS$1.66BMarket Cap8.28BUS$52.7M+ Debt102BUS$650M− Cash66.3BUS$422M− Inv. Sec.0.09BUS$0.57M+ NCI100BUS$640MEV
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Performance & Balance
Revenue 5Y (¥B)
1,266US$8.06B'22/31,389US$8.84B'23/31,477US$9.40B'24/31,518US$9.67B'25/31,553US$9.89B'26/3
EBITDA 5Y (¥B)
19.2US$122M'22/318.9US$121M'23/325.6US$163M'24/324.9US$158M'25/322.7US$144M'26/3
Net Income 5Y (¥B)
13.4US$85.2M'22/313.6US$86.8M'23/320.7US$132M'24/319.8US$126M'25/317.3US$110M'26/3
Capital Structure
97%
EquityD/E 0.03xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
173US$1.10B40.7US$259M'22/3159US$1.01B37.9US$241M'23/3203US$1.29B30.2US$193M'24/3151US$959M21.3US$135M'25/3147US$934M9.89US$63.0M'26/3
Shareholders
Top 10 hold 50.2%
1
STATE STREET BANK AND TRUST COMPANY 505018 (Standing Proxy: Mizuho Bank, Ltd.)
14.91%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
11.33%
3
Shionogi & Co.,Ltd.
5.41%
4
GOLDMAN,SACHS & CO.REG (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
4.33%
5
3D WH OPPORTUNITY MASTER OFC - 3D WH OPP ORTUNITY HOLDINGS (Standing Proxy: Mizuho Bank, Ltd.)
3.71%
6
Custody Bank of Japan, Ltd. (Trust Account)
2.51%
7
Hiroyuki KONO
2.06%
8
Mizuho Trust & Banking Co., Ltd. (Retirement Benefit Trust, DAIICHI SANKYO COMPANY,LIMITED Account; Re-trustee: Custody Bank of Japan, Ltd.)
2.05%
9
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
2.00%
10
TOHO HOLDINGS CO.,LTD. Employee Stock Ownership Association
1.86%
Management
9 officers
Hiromi EDAHIRO
Representative Director, President and Executive Officer, CEO
Apr 1977 Joined Tokio Marine & Fire Insurance Co., Ltd. (now Tokio Marine & Nichido Fire Insurance Co., Ltd.) Sep 1985 Joined Tokiwa Pharmaceutical Co., Ltd. Aug 1996 Director, General Affairs Department Manager, Tokiwa Pharmaceutical Dec 1997 Managing Director, General Manager of Administration Division and General Affairs Department Manager, Tokiwa Pharmaceutical Aug 2000 Representative Director, President and General Manager of Administration Division, Tokiwa Pharmaceutical Jun 2003 Representative Director, President, Tokiwa Pharmaceutical Jun 2012 Audit & Supervisory Board Member, Toho Holdings Jun 2012 Audit & Supervisory Board Member, Toho Pharmaceutical Co., Ltd. Apr 2013 Executive Officer, Deputy General Manager of Administration Division and General Affairs Department Manager, Toho Pharmaceutical Jun 2014 Director, Deputy General Manager of Administration Division and General Affairs Department Manager, Toho Pharmaceutical Jun 2015 Representative Director, President, Toho Pharmaceutical Jun 2015 Director, Toho Holdings Jun 2017 Vice President and Director, Toho Holdings Jun 2019 Director, Toho Pharmaceutical Jun 2019 Representative Director, Vice Chairman and CFO, Toho Holdings Jun 2020 Director, Toho Holdings Jun 2020 Representative Director, Chairman, Toho Pharmaceutical Jun 2022 Director, Toho Pharmaceutical (current) Jun 2022 Representative Director and CFO, Toho Holdings Jun 2024 Representative Director, CEO and CFO, Toho Holdings Jun 2025 Representative Director, President and Executive Officer, CEO, Toho Holdings (current)
1952-05-14
Akira UMADA
Director, Senior Managing Executive Officer and COO; in charge of Pharmaceutical Wholesale Business
Mar 1986 Joined Toho Pharmaceutical Co., Ltd. (now Toho Holdings) Apr 2007 General Manager, Hospital Sales Department, Toho Pharmaceutical May 2008 General Manager, Hospital Division, Toho Pharmaceutical Apr 2009 Executive Officer, Deputy General Manager of Sales Division, Toho Pharmaceutical Jul 2012 Director, Deputy General Manager of Pharmaceutical Sales Division and General Manager of Hospital Division, Toho Pharmaceutical Jun 2015 Managing Director, Deputy General Manager of Sales Division, Deputy General Manager of Pharmaceutical Sales Division and General Manager of Hospital Division, Toho Pharmaceutical Jun 2015 Executive Officer, Toho Holdings Jun 2016 Senior Managing Director, General Manager of Sales Division, General Manager of Pharmaceutical Sales Division and General Manager of Hospital Division, Toho Pharmaceutical Jun 2016 Director, Toho Holdings Jun 2019 Representative Director, President, Toho Pharmaceutical (current) Jun 2019 Senior Managing Director, Toho Holdings Jun 2022 Senior Managing Director and COO, Toho Holdings Jun 2025 Director, Senior Managing Executive Officer and COO, Toho Holdings Jun 2026 Director, Senior Managing Executive Officer and COO; in charge of Pharmaceutical Wholesale Business, Toho Holdings (current)
1965-04-16
Takeo MATSUTANI
Director, Managing Executive Officer and CGO; in charge of Pharmaceutical Manufacturing and Sales Business
Feb 1992 Joined Toho Pharmaceutical Co., Ltd. (now Toho Holdings) Jun 2001 Director, Toho Pharmaceutical Jun 2007 Managing Director, Toho Pharmaceutical Jun 2008 Senior Managing Director, Toho Pharmaceutical Jun 2008 In charge of Administration, Management Planning, Toho Pharmaceutical Apr 2009 Director, Toho Holdings Apr 2009 Director in charge of Group Strategy, Toho Holdings Apr 2009 Senior Managing Director, Toho Pharmaceutical Jun 2009 Vice President and Director, Toho Pharmaceutical Oct 2011 Director, Special Assignment to the President, Toho Holdings Jun 2013 Managing Director, Kyushu Toho Co., Ltd. Jun 2014 Director, Toho Pharmaceutical Jun 2015 Representative Director, President, Kyushu Toho Co., Ltd. Jun 2017 Director, Seiel Co., Ltd. Jun 2017 Vice President and Director, Toho Pharmaceutical (current) Jun 2023 Chairman and Director, Kyushu Toho Co., Ltd. (current) Jun 2025 Director, Managing Executive Officer and CGO, Toho Holdings Jun 2026 Director, Managing Executive Officer and CGO; in charge of Pharmaceutical Manufacturing and Sales Business, Toho Holdings (current)
1966-04-20
Shuzo KONO
Director, Managing Executive Officer; in charge of Transformation Promotion, Dispensing Pharmacy Business and Other Peripheral Businesses
Apr 2001 Joined Sun Microsystems K.K. (now Oracle Corporation Japan) Jan 2005 Joined Toho Pharmaceutical Co., Ltd. (now Toho Holdings) Apr 2009 Joined Omuel Co., Ltd. (now Seiel Co., Ltd.) Jun 2014 Executive Officer, Omuel Jun 2015 Director, Omuel Jun 2017 Representative Director, President, Omuel (current) Jun 2017 Director, Toho Pharmaceutical Jun 2021 Executive Officer, Toho Pharmaceutical Jun 2022 Executive Officer, Toho Holdings Jun 2025 Director, Toho Pharmaceutical (current) Jun 2025 Director and Executive Officer in charge of Transformation Promotion, Toho Holdings Jun 2026 Director, Managing Executive Officer in charge of Transformation Promotion; in charge of Dispensing Pharmacy Business and Other Peripheral Businesses, Toho Holdings (current)
1978-09-26
Manako HAGA
Outside Director
Apr 1986 Joined J.P. Morgan Morgan Trust Bank Sep 1989 Joined James Capel & Co. Ltd. Apr 1992 Joined S.G. Warburg Securities May 1995 Joined Kleinwort Benson Investment Management Ltd. Jul 1998 Joined Merrill Lynch Investment Managers Co., Ltd. May 2002 Joined Fidelity Investments Japan Ltd. Jun 2016 Director, Chief Financial Officer and Business Manager of President's Office, Fidelity Investments Japan Ltd. and Fidelity Securities Co., Ltd. Jun 2017 Advisor, Matsui Securities Co., Ltd. Nov 2017 Joined The British School in Tokyo Jun 2019 Director, Matsui Securities Co., Ltd. Jun 2020 Director in charge of Human Resources and General Affairs, Matsui Securities Co., Ltd. Jun 2025 Outside Director, Toho Holdings (current) Jun 2025 Executive Officer in charge of Human Resources and General Affairs, Matsui Securities Co., Ltd. Apr 2026 Executive Officer, Matsui Securities Co., Ltd. (current)
1963-09-02
Masahiko ITO
Outside Director
Apr 1982 Joined Fujikura Cable Works, Ltd. (now Fujikura Ltd.) Apr 2013 Executive Officer, General Manager of Superconductivity Business Promotion Office, New Business Promotion Center, Fujikura Apr 2014 Managing Executive Officer, Deputy Head of Energy & Information Network Company, in charge of Infrastructure Business Division and General Manager of Superconductivity Business Promotion Office, New Business Promotion Center, Fujikura Apr 2015 Managing Executive Officer, Deputy Head of Energy & Information Network Company, Fujikura Jun 2015 Director and Managing Executive Officer, Deputy Head of Energy & Information Network Company, Fujikura Apr 2016 Representative Director, President, Fujikura Jun 2016 Chairman, Japan Cable Makers' Association Apr 2021 Representative Director, President and CEO, Fujikura Apr 2022 Chairman of the Board and Chairman of the Board of Directors, Fujikura Jun 2022 Chairman, Japan Cable Makers' Association Mar 2024 Outside Director, Toagosei Co., Ltd. Apr 2024 Chairman of the Board, Fujikura Jun 2024 Honorary Advisor, Fujikura Sep 2024 Outside Director, Technopro Holdings, Inc. Jun 2026 Outside Director, Nippon Suisan Kaisha, Ltd. (current) Jun 2026 Outside Director, Toho Holdings (current)
1957-09-01
Hidehito KOTANI
Director (Audit and Supervisory Committee Member)
Apr 1994 Joined Pfizer Inc. (U.S.), Central Research Division, Connecticut Jan 1998 Joined Banyu Pharmaceutical Co., Ltd. (now MSD K.K.) Jul 2009 Executive Officer in charge of Corporate Services and General Manager of President's Office, Banyu Mar 2012 Senior Managing Executive Officer, General Manager of Sales Division and General Manager of President's Office, MSD K.K. (retired Aug 2015) Mar 2012 Vice President, Merck & Co., Inc. (U.S.) (retired Aug 2015) Sep 2015 Representative Director, President and CEO and CTO, Panasonic Healthcare Holdings Co., Ltd. (now PHC Holdings Corporation) (retired Jun 2019) Sep 2019 Managing Partner, Frederick Research (current) Feb 2022 Representative Director, NovoCure K.K. (current) Jun 2022 Outside Director (Audit and Supervisory Committee Member), Toho Holdings (current)
1967-12-27
Chie GOTO
Director (Audit and Supervisory Committee Member)
Apr 1984 Joined Socie World Co., Ltd. Apr 1988 Joined Tokyo Gakusei Shinro Shiryoshitsu Co., Ltd. Sep 1994 Joined Yamada & Partners Accounting Office Oct 2006 Registered as Attorney-at-Law, joined Sakura Kyodo Law Offices Registered as Certified Public Accountant Jan 2011 Partner, Sakura Kyodo Law Offices (current) Sep 2021 Outside Audit & Supervisory Board Member, Avant Co., Ltd. (now Avant Group Co., Ltd.) Sep 2022 Outside Director (Audit and Supervisory Committee Member), Avant Group Co., Ltd. (current) Jun 2024 Outside Director (Audit and Supervisory Committee Member), Toho Holdings (current)
1958-11-30
Miho SAITO
Director (Audit and Supervisory Committee Member)
Apr 1986 Joined Nomura Securities Co., Ltd. Mar 1988 Joined Credit Suisse Trust Limited Nov 1989 Joined Sparx Asset Management Co., Ltd. (now Sparx Group Co., Ltd.) Sep 1997 Joined Government of Singapore Investment Corporation (GIC) Jan 2006 Joined Clay Finlay Inc. Nov 2009 Joined United Nations Joint Staff Pension Fund Jun 2024 Executive Officer, Capital Markets Division, Strategy Advisors Co., Ltd.; Coordinator and Speaker, DE&I Training Course Mar 2025 Outside Director (Audit and Supervisory Committee Member), Elan Corporation (current) Jun 2025 Outside Director, Yamaguchi Financial Group, Inc. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), Toho Holdings (current) Jun 2026 Outside Director (Audit and Supervisory Committee Member), Sparx Group Co., Ltd. (current)
1963-04-08
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Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-05
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-05
Large Shareholding Report
EDINET
2025-08-27
Large Shareholding Report
EDINET
2025-08-19
Large Shareholding Report
EDINET
2025-08-07
Large Shareholding Report
TDnet
2025-08-05
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-08-01
Large Shareholding Report
EDINET
2025-07-08
Large Shareholding Report
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Large Shareholding Report
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2024-10-04
Large Shareholding Report
EDINET
2024-09-03
Large Shareholding Report
EDINET
2024-08-22
Large Shareholding Report
EDINET
2024-08-16
Large Shareholding Report
EDINET
2024-08-14
Large Shareholding Report
EDINET
2024-08-09
Large Shareholding Report
TDnet
2024-08-06
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-07-31
Large Shareholding Report
EDINETAmended
2024-07-31
Change Report
EDINET
2024-07-23
Large Shareholding Report
EDINET
2024-07-17
Large Shareholding Report
EDINET
2024-07-09
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EDINET
2024-07-02
Large Shareholding Report
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-24
Large Shareholding Report
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