Worth reading
52Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet SalesNot disclosed → ¥2.7 trillion
Operating profitNot disclosed → ¥1,350 100 million
Operating profit marginNot disclosed → 5 %
ROENot disclosed → 7 %
Only the target level is shown because the current level for comparison was not provided.Investment amount by sectorField Growth Investment / Amount 4,000～4,200 / Period Fiscal years ending February 2027 to February 2032, Field Overseas investments and alliance initiatives / Amount 2,800～3,000 / Period Fiscal years ending February 2027 to February 2032, Field Overseas business, including ASEAN headquarters functions / Amount ¥300 100 million / Period 3 years
Statements about the use of capital
Payout ratio / DOE policyThe basic policy is to provide stable and progressive dividends, with a consolidated payout ratio of at least 35% as a guideline. The applicable period is Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Branch Strategy
02Pharmacy strategy
03Merchandising strategy - PB
04DX strategy - A. Transforming the customer experience
05DX strategy - B. Strengthening customer service in stores
06Overseas strategy
Plan assumptionsTotal goodwill of ¥443.0 billion, The new lease accounting standard will be applied from the fiscal year ending February 2029, but the figures in this medium-term management plan were calculated without applying the new lease accounting standard.
Segment targetSegment ツルハグループ / Net Sales ¥12,000 100 million / Operating profit ¥742 100 million / Operating profit margin 6.2%, Segment ウエルシアグループ / Net Sales ¥15,000 100 million / Operating profit ¥830 100 million / Operating profit margin 5.5%, Segment Impact of the management integration / Net Sales Not disclosed / Operating profit ¥222 100 million, Segment ツルハHD consolidated / Net Sales ¥27,000 100 million / Operating profit ¥1,350 100 million / Operating profit margin 5.0%
Non-financial targetsIndicator Number of domestic stores / Target value 5,896 stores / Timing End of the fiscal year ending February 2029, Indicator Number of new stores / Target value 450 stores cumulatively / Timing 3 years, Indicator Net increase in stores / Target value 220 stores / Timing End of the fiscal year ending February 2029, Indicator Number of renovated stores / Target value More than 1,500 stores / Timing 3 years, Indicator Conversion to drugstore-and-food-format stores / Target value 400 stores / Timing PHASE 1, Indicator Percentage of stores with pharmacy operations / Target value 62% / Timing Fiscal year ending February 2029, Indicator Private-brand sales mix / Target value 15% / Timing Fiscal year ending February 2029, Indicator Labor hours saved by shifting to customer-facing work / Target value 10 million hours per year / Timing Not disclosed, Indicator Number of overseas business stores / Target value 100 stores / Timing Not disclosed, Indicator Percentage of Female Managers / Target value 30.0% / Timing Fiscal year ending February 2029, Indicator Paid leave utilization rate / Target value 80.0% / Timing Fiscal year ending February 2029, Indicator CO2 emissions / Target value 37% reduction from 2013 / Timing Fiscal year ending February 2029, Indicator Percentage of private-brand products designed with environmental considerations / Target value 52% / Timing Fiscal year ending February 2029
Size of the Target MarketMarket Size 24,000 drugstores in 2024 / Growth rate Not disclosed / Source Not disclosed
Risks identified by the company
Intensifying competition across business formats
Full-scale intensification of competition with the retail sector as a whole
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (Fiscal Years Ending February 2027 to February 2029) |
| Plan period | Fiscal years ending February 2027 to February 2029 |
| Progress against the plan | Formulated |
| Sales Target | Not disclosed → ¥2.7 trillion |
| Operating profit target | Not disclosed → ¥1,350 100 million |
| Operating profit margin target | Not disclosed → 5 % |
| ROE target | Not disclosed → 7 % |
| Payout ratio / DOE policy | The basic policy is to provide stable and progressive dividends, with a consolidated payout ratio of at least 35% as a guideline. The applicable period is Not disclosed. |
| Investment amount by sector | Field Growth Investment / Amount 4,000～4,200 / Period Fiscal years ending February 2027 to February 2032, Field Overseas investments and alliance initiatives / Amount 2,800～3,000 / Period Fiscal years ending February 2027 to February 2032, Field Overseas business, including ASEAN headquarters functions / Amount ¥300 100 million / Period 3 years |
| Segment target | Segment ツルハグループ / Net Sales ¥12,000 100 million / Operating profit ¥742 100 million / Operating profit margin 6.2%, Segment ウエルシアグループ / Net Sales ¥15,000 100 million / Operating profit ¥830 100 million / Operating profit margin 5.5%, Segment Impact of the management integration / Net Sales Not disclosed / Operating profit ¥222 100 million, Segment ツルハHD consolidated / Net Sales ¥27,000 100 million / Operating profit ¥1,350 100 million / Operating profit margin 5.0% |
| Non-financial targets | Indicator Number of domestic stores / Target value 5,896 stores / Timing End of the fiscal year ending February 2029, Indicator Number of new stores / Target value 450 stores cumulatively / Timing 3 years, Indicator Net increase in stores / Target value 220 stores / Timing End of the fiscal year ending February 2029, Indicator Number of renovated stores / Target value More than 1,500 stores / Timing 3 years, Indicator Conversion to drugstore-and-food-format stores / Target value 400 stores / Timing PHASE 1, Indicator Percentage of stores with pharmacy operations / Target value 62% / Timing Fiscal year ending February 2029, Indicator Private-brand sales mix / Target value 15% / Timing Fiscal year ending February 2029, Indicator Labor hours saved by shifting to customer-facing work / Target value 10 million hours per year / Timing Not disclosed, Indicator Number of overseas business stores / Target value 100 stores / Timing Not disclosed, Indicator Percentage of Female Managers / Target value 30.0% / Timing Fiscal year ending February 2029, Indicator Paid leave utilization rate / Target value 80.0% / Timing Fiscal year ending February 2029, Indicator CO2 emissions / Target value 37% reduction from 2013 / Timing Fiscal year ending February 2029, Indicator Percentage of private-brand products designed with environmental considerations / Target value 52% / Timing Fiscal year ending February 2029 |
| Plan assumptions | Total goodwill of ¥443.0 billion, The new lease accounting standard will be applied from the fiscal year ending February 2029, but the figures in this medium-term management plan were calculated without applying the new lease accounting standard. |
| Key initiatives | Branch Strategy, Pharmacy strategy, Merchandising strategy - PB, DX strategy - A. Transforming the customer experience, DX strategy - B. Strengthening customer service in stores, Overseas strategy |
| Size of the Target Market | Market Size 24,000 drugstores in 2024 / Growth rate Not disclosed / Source Not disclosed |
| Risks identified | Intensifying competition across business formats, Full-scale intensification of competition with the retail sector as a whole |
| Publication date | 9 April 2026 |
Items this document does not state (9)
Net income targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planResults under the previous planReason for revision or withdrawalDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.As competition in the drugstore market intensifies across business formats, the company aims to clarify its direction for evolving into a "customer-centric network" by integrating the strengths established through the management integration, including Japan's No. 1 store network, broad product lineup and customer data.
How to read this page
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