Ano Kaisha no Shikumi
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KUSURI NO AOKI

KUSURI NO AOKI HOLDINGS CO., LTD.

Company highlights

The latest annual dividend per share is higher than the year before.

Key figures

Period 2025-05-21 to 2026-05-20ConsolidatedJapanese GAAP

RevenueDisclosed ¥566.9B
Operating marginCalculated 4.8%
Net assets to total assetsCalculated 34.3%

Company profile

Securities code 3549 / EDINET code E10737 / Retail Trade / Fiscal year end May 20

白山市松本町2512番地/Capital stock ¥16,749 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Company details
青木 宏憲 Representative
7 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (2025-05-21 to 2026-05-20) · filed 2026-08-19

Profitability ★★★☆☆position among all companies 4.8%
Growth (revenue, 4-year average) ★★★★★position among all companies 14.6%
Capital efficiency ★★★★☆position among all companies 11.9%

Business activities and revenue composition

Breakdown by business: not published

Revenue and profit

KUSURI NO AOKI

Period 2025-05-21 to 2026-05-20Source Annual securities reports

Net sales and operating revenue ¥566.9B 100% Cost of sales ¥417.4B 74% Selling, general and administrative expenses ¥122.4B 22% Operating income ¥27.1B 5%
Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Compensations salaries and allowances ¥41.3 billion Consolidated
Rents ¥17.3 billion Consolidated
Depreciation ¥14.5 billion Consolidated
Provision for bonuses ¥2.2 billion Consolidated
Retirement benefit expenses ¥0.5 billion Consolidated
Directors' compensations ¥0.2 billion Parent only
Provision for directors' retirement benefits ¥16.00 million Parent only
Profit by stage Gross profit (loss) ¥149.5 billion Consolidated
Ordinary income ¥27.7 billion Consolidated
Operating income ¥27.1 billion Consolidated
Net income ¥17.1 billion Consolidated

KUSURI NO AOKI

Selling, general and administrative expenses

Period 2025-05-21 to 2026-05-20Source Annual securities reports

Compensations salaries and allowances ¥41.3 billion (33.7%)34%Rents ¥17.3 billion (14.1%)14%Depreciation ¥14.5 billion (11.8%)12%Provision for bonuses ¥2.2 billion (1.8%)Retirement benefit expenses ¥0.5 billion (0.4%)Directors' compensations ¥0.2 billion (0.2%)Other (not itemized) ¥46.4 billion (37.9%)38%¥122.4B
  • Compensations salaries and allowances ¥41.3 billion
  • Rents ¥17.3 billion
  • Depreciation ¥14.5 billion
  • Provision for bonuses ¥2.2 billion
  • Retirement benefit expenses ¥0.5 billion
  • Directors' compensations ¥0.2 billion
  • Other (not itemized) ¥46.4 billion

Performance, financial position and capital allocation

Finance
34.3% Net assets to total assets Industry median 45.6% FY ending 5/2026 · consolidated / calculated
4.2% Return on assets (ROA)
¥1,485.19 Net assets per share
¥-5.6 billion Free cash flow
¥410.9 billion Total assets
¥13.6 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
137.2% Cash conversion Industry median 121.9% FY ending 5/2026 · consolidated / calculated
0.4% Increase in working capital ★★★☆☆ position among all companies FY ending 5/2026 · consolidated / calculated
231.3% Property, plant and equipment purchases relative to depreciation ★★★★★ position among all companies FY ending 5/2026 · consolidated / calculated
67.9% Return to shareholders ★★★★★ position among all companies FY ending 5/2026 · consolidated / calculated
-13.1% Extraordinary gains and losses relative to ordinary profit ★☆☆☆☆ position among all companies FY ending 5/2026 · consolidated / calculated
6.8% Investment securities to net assets ★★★☆☆ position among all companies FY ending 5/2026 · consolidated / calculated

Long-term changes in performance

Period 2013 to 2026Disclosed

Revenue ×16196.14 from 2013 to 2026

KUSURI NO AOKI

Long-term revenue, profit and asset trends

Period 2013 to 2026Source Annual securities reportsDisclosed

Mark on the chart
567 378 189 0 2013 2015 2017 2019 2021 2023 2025 2026 Net sales and operating revenue Ordinary income 2014 Ordinary income (loss) as a share of revenue +2.1 points 567Latest value 2026 567¥ billion 567Highest in the period shown 2026 567¥ billion 0Lowest in the period shown 2013 0¥ billion ¥ billion

KUSURI NO AOKI

Recent performance trends

Source Annual securities reports

567 378 189 0 4 years ago 3 years ago 2 years ago Last year This year Net sales and operating revenue Ordinary income ¥ billion

Year-on-year comparison

Period 2013 to 2026Disclosed

Item20222023202420252026
Net sales ¥328.3B ¥378.9B ¥436.9B ¥501.5B ¥566.9B
Year on year (%) +7.3% +15.4% +15.3% +14.8% +13.0%
Ordinary income (loss) ¥15.8B ¥19.1B ¥20.1B ¥27.5B ¥27.7B
Change from prior year -9.0% +21.2% +5.1% +36.9% +0.8%
Ordinary income (loss) as a share of Net sales 4.8% 5.0% 4.6% 5.5% 4.9%
Change (percentage points) -0.9 points +0.2 points -0.4 points +0.9 points -0.6 points

Fiscal periods marked for changes

  • 2014Ordinary income (loss) as a share of revenue +2.1 points

KUSURI NO AOKI

Earnings and net assets per share over time

Unit yenSource Annual securities reports

177 118 59 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 1,485 990 495 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

KUSURI NO AOKI

Return on equity over time

Unit %Source Annual securities reports

14 9 5 0 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Consolidated indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥328.3 billion ¥378.9 billion ¥436.9 billion ¥501.5 billion ¥566.9 billion
Ordinary income (loss) ¥15.8 billion ¥19.1 billion ¥20.1 billion ¥27.5 billion ¥27.7 billion
Net income (loss) attributable to owners of parent ¥9.8 billion ¥12.3 billion ¥12.3 billion ¥17.8 billion ¥17.1 billion
Comprehensive income ¥9.7 billion ¥12.5 billion ¥13.0 billion ¥18.0 billion ¥20.6 billion
Net assets ¥86.9 billion ¥98.5 billion ¥117.4 billion ¥145.8 billion ¥141.0 billion
Total assets ¥234.2 billion ¥274.3 billion ¥303.5 billion ¥352.5 billion ¥410.9 billion
Net assets per share 917.95 yen 1,041.2 yen 1,168.74 yen 1,441.69 yen 1,485.19 yen
Basic earnings (loss) per share 104.02 yen 130.31 yen 130.11 yen 175.42 yen 176.95 yen
Diluted earnings per share Could not be retrieved Could not be retrieved 126.86 yen 174.27 yen Could not be retrieved
Equity-to-asset ratio 37.1% 35.9% 36.4% 41.4% 34.3%
Return on equity 12.0% 13.3% 11.8% 13.9% 11.9%
Net cash provided by (used in) operating activities ¥20.3 billion ¥31.2 billion ¥26.9 billion ¥22.2 billion ¥37.3 billion
Net cash provided by (used in) investing activities ¥-27.8 billion ¥-22.3 billion ¥-21.1 billion ¥-31.1 billion ¥-42.9 billion
Net cash provided by (used in) financing activities ¥18.1 billion ¥7.5 billion ¥0.3 billion ¥7.7 billion ¥16.5 billion
Cash and cash equivalents ¥26.3 billion ¥42.9 billion ¥49.0 billion ¥47.7 billion ¥58.7 billion
Parent only indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Operating revenue ¥3.2 billion ¥1.3 billion ¥2.5 billion ¥22.9 billion ¥32.8 billion
Ordinary income (loss) ¥2.5 billion ¥0.4 billion ¥-5.3 billion ¥21.3 billion ¥31.8 billion
Net income (loss) ¥1.8 billion ¥0.4 billion ¥-5.5 billion ¥20.9 billion ¥31.2 billion
Capital stock ¥1.2 billion ¥1.2 billion ¥1.2 billion ¥16.7 billion ¥16.7 billion
Total number of issued shares (common stock) 31,532,560 shares 31,532,560 shares 94,597,680 shares 105,097,680 shares 95,616,980 shares
Net assets ¥36.8 billion ¥36.3 billion ¥36.7 billion ¥67.9 billion ¥73.7 billion
Total assets ¥46.1 billion ¥43.2 billion ¥43.8 billion ¥75.3 billion ¥86.6 billion
Net assets per share 387.94 yen 382.78 yen 314.96 yen 671.62 yen 776.42 yen
Dividend per share 26 yen 29 yen 21.5 yen 14 yen 56 yen
Interim dividend per share 13 yen 14.5 yen 16 yen 7 yen 8 yen
Basic earnings (loss) per share 18.5 yen 4.02 yen -57.64 yen 206.52 yen 321.89 yen
Diluted earnings per share Could not be retrieved Could not be retrieved Could not be retrieved 205.16 yen Could not be retrieved
Equity-to-asset ratio 79.6% 83.8% 68.0% 90.1% 85.2%
Return on equity 4.8% 1.0% -16.5% 42.9% 44.0%
Payout ratio 46.8% 240.7% Could not be retrieved 6.8% 17.1%

Dividend history

Source: reporting company’s key figures, annual securities reports · 11 years (2016 to 2026)Parent-onlyDisclosed

1 periods Consecutive increases (own definition) through FY ending 5/2026
2 periods Consecutive periods with dividends (site definition) through FY ending 5/2026
+300.0% Dividend growth (year on year)
Fewer than six years Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 5/2026 ¥56 ¥8 17.1%
FY ending 5/2025 ¥14 ¥7 6.8%
FY ending 5/2024 ¥21.5 ¥16 Could not be retrieved Stock split or share consolidation noted
FY ending 5/2023 ¥29 ¥14.5 240.7%
FY ending 5/2022 ¥26 ¥13 46.8%
FY ending 5/2021 ¥23 ¥11.25 41.3%
FY ending 5/2020 ¥20 ¥10 39.9%
FY ending 5/2019 ¥18 ¥9 40.7%
FY ending 5/2018 ¥16 ¥8 14.5%
FY ending 5/2017 ¥7 Could not be retrieved 8.6% Stock split or share consolidation noted
FY ending 5/2016 ¥166,665 Could not be retrieved Could not be retrieved

KUSURI NO AOKI

Dividends per share over time

Unit yenSource Annual securities reports

56 37 19 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2026-05-20Disclosed

Share ownership by holder category

11,958 Shareholders
19.80% Foreign holders (total) Industry median 3.60%
10.80% Individuals and others Industry median 50.90%

KUSURI NO AOKI

Unit %Source Annual securities reports

  • Financial institutions13.10%
  • Securities firms0.80%
  • Other corporations55.40%
  • Foreign holders (institutions)19.80%
  • Foreign holders (individuals)0.00%
  • Individuals and others10.80%

Major shareholders

RankShareholderShareholding ratioShares held
1 OASIS FUNDAMENTAL VALUE Ⅱ (HONG KONG) LIMITED(常任代理人 シティバンク、エヌ・エイ東京支社) 14.08% 13,378,000
2 イオン㈱ 10.23% 9,720,000
3 (同)青木二階堂金沢市泉野町1丁目8番17号 6.82% 6,481,000
4 (同)臨川書屋金沢市泉野町1丁目8番17号 6.82% 6,481,000
5 日本マスタートラスト信託銀行㈱(信託口) 5.41% 5,138,000
6 ㈱ツルハ 5.11% 4,860,000
7 (同)A870金沢市泉野町1丁目8番17号 4.38% 4,167,000
8 (同)KS Aviation金沢市泉が丘2丁目12番13号 3.85% 3,658,000
9 (同)HONJIN金沢市泉が丘2丁目12番13号 3.84% 3,649,000
10 (同)STREAM金沢市泉が丘2丁目12番13号 3.84% 3,649,000
11 (同)GARDEN金沢市泉が丘2丁目12番13号 3.84% 3,649,000

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 2 years (2021 to 2026)Disclosed

Not disclosed Research and development
¥42.2 billion Capital expenditure 7.4% of revenue (industry median 3.4%)
Fiscal year Capital expenditure
FY ending 5/2026 ¥42.2 billion
FY ending 5/2021 ¥25.6 billion

Revenue scale in the same industry

KUSURI NO AOKI

Source Annual securities reports of each company

Retail Trade: 343 companies · revenue · largest first・each company’s latest fiscal year・Consolidated・Disclosed

  • 1 AEONFY Feb 2026 ¥10.7T
  • 2 Seven & iFY Feb 2026 ¥10.4T
  • 3 FAST RETAILINGFY Aug 2025 ¥3.4T
  • … 26 companies
  • 30 ARCSFY Feb 2026 ¥627.0B
  • 31 izumicoFY Feb 2026 ¥569.3B
  • 32 KUSURI NO AOKIThis companyFY May 2026 ¥566.9B
  • 33 Isetan MitsukoshiFY Mar 2026 ¥545.6B
  • 34 DCMFY Feb 2026 ¥542.3B
  • … 309 companies

Workforce information

Source: Annual Securities Report (2025-05-21 to 2026-05-20)Parent-onlyDisclosed

63 Employees (parent only) Industry median 226
35.6 Average age Industry median 41.8
9.6 years Average length of service Industry median 10.9 years
¥5.36 million Average annual salary Industry median ¥5.46 million
People and organisation
89.2¥ million Sales per employee Industry median 59.6¥ million FY ending 5/2026 · consolidated / calculated
¥4.26 million Operating income per employee
8,665 Average temporary staff

Audit and disclosure information

Annual securities report, year ended 2026-05-20Disclosed

ItemValue
Audit firm 仰星監査法人
Audit fees (this year, total) ¥52.00 million
Non-audit fees (this year, total) Not applicable
Going concern note Cannot be determined
Accounting standard Japanese GAAP

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Books that cover companies in the same industry

This company: not covered in the books below

Cover of “Kaisha no Shikumi: Raising Prices” Same industry: Retail Trade “Kaisha no Shikumi: Raising Prices” Reads the filings of restaurant, clothing and household goods chains for how price increases relate to customer numbers. Retail Trade companies in this book: saizeriya, FOOD & LIFE COMPANIES, FAST RETAILING and others (6 in all) “Ano Kaisha no Shikumi” series, Vol.2 — Kindle and paperback Find it on Amazon → Cover of “Kaisha no Shikumi: Earning Beyond the Till” Same industry: Retail Trade “Kaisha no Shikumi: Earning Beyond the Till” Reads the filings of supermarkets, department stores and drugstores for money received under headings other than product sales, such as finance and rent. Retail Trade companies in this book: AEON, TSURUHA, Takashimaya and others (5 in all) “Ano Kaisha no Shikumi” series, Vol.5 — Kindle and paperback Find it on Amazon →

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (28 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥20.6 billion Consolidated
Net cash provided by (used in) operating activities ¥37.3 billion Consolidated
Net sales ¥566.9 billion Consolidated
Net cash provided by (used in) investing activities ¥-42.9 billion Consolidated
Cash and cash equivalents ¥58.7 billion Consolidated
Net assets ¥141.0 billion Consolidated
Ordinary income (loss) ¥27.7 billion Consolidated
Total assets ¥410.9 billion Consolidated
Return on equity 11.9% Consolidated
Equity-to-asset ratio 34.3% Consolidated
Net income (loss) attributable to owners of parent ¥17.1 billion Consolidated
Net cash provided by (used in) financing activities ¥16.5 billion Consolidated
Basic earnings (loss) per share 176.95 yen Consolidated
Net assets per share 1,485.19 yen Consolidated
Dividend per share 56 yen Parent only
Operating revenue ¥32.8 billion Parent only
Net income (loss) ¥31.2 billion Parent only
Total number of issued shares (common stock) 95,616,980 shares Parent only
Net assets ¥73.7 billion Parent only
Ordinary income (loss) ¥31.8 billion Parent only
Total assets ¥86.6 billion Parent only
Return on equity 44.0% Parent only
Equity-to-asset ratio 85.2% Parent only
Capital stock ¥16.7 billion Parent only
Payout ratio 17.1% Parent only
Interim dividend per share 8 yen Parent only
Basic earnings (loss) per share 321.89 yen Parent only
Net assets per share 776.42 yen Parent only

Employees (7 items)

ItemValueConsolidated / Non-consolidated
Number of employees 6,355 people Consolidated
Number of employees 6,355 people Consolidated
Average length of service (years) 9.6 years Parent only
Average annual salary ¥5.36 million Parent only
Average age (years) 35.6 years old Parent only
Number of employees 63 people Parent only
Number of employees 63 people Parent only

Other disclosed items (7 items)

ItemValueConsolidated / Non-consolidated
Average number of temporary employees 8,665 people Consolidated
Average number of temporary employees 8,665 people Consolidated
Write-downs of inventories ¥17.00 million Consolidated
Number of consolidated subsidiaries 7 companies Consolidated
Average number of temporary employees 3 people Parent only
Average number of temporary employees 3 people Parent only
Total return on the share price index 200.0% Parent only

Shares (14 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 64,833,000 shares Consolidated
Total number of shares held treasury shares etc 653,900 shares Consolidated
Number of issues whose number of shares increased shares other than those not listed investment shares held for purposes other than pure investment largest holding company 2 issues Consolidated
Total acquisition cost for increased shares shares other than those not listed investment shares held for purposes other than pure investment largest holding company ¥3.00 million Consolidated
Number of shares 95,616,980 shares Consolidated
Shareholding ratio treasury shares etc 0.7% Consolidated
Shareholding ratio 68.3% Consolidated
Number of shares held in own name treasury shares etc 653,900 shares Consolidated
Number of voting rights 949,443 units Consolidated
Carrying amount on the balance sheet ¥7.00 million Consolidated
Carrying amount on the balance sheet ¥8.8 billion Consolidated
Number of issues 2 issues Consolidated
Number of issues 5 issues Consolidated
Total shareholder return 147.1% Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥42.2 billion Consolidated

Audit (3 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥20.00 million Consolidated
Fees for audit and attestation services - total ¥52.00 million Consolidated
Fees for audit and attestation services - consolidated subsidiaries ¥31.00 million Consolidated

Accounts unique to this company (7 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥0.7 billion Consolidated
Revenue ¥0.3 billion Consolidated
Revenue ¥1.00 million Consolidated
Revenue ¥-0.8 billion Consolidated
Change in average annual salary from the previous year 5.7% Parent only
Revenue ¥0.3 billion Parent only
Revenue ¥0.3 billion Parent only

Balance sheet (90 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.9 billion Consolidated
Other ¥7.0 billion Consolidated
Other ¥7.3 billion Consolidated
Other ¥1.2 billion Consolidated
Other ¥5.3 billion Consolidated
Valuation difference on available-for-sale securities ¥4.5 billion Consolidated
Other, net ¥6.3 billion Consolidated
Goodwill ¥13.6 billion Consolidated
Reserve for loyalty awards credits ¥30.00 million Consolidated
Lease obligations ¥7.8 billion Consolidated
Lease assets, net ¥9.2 billion Consolidated
Retained earnings ¥105.1 billion Consolidated
Merchandise ¥63.8 billion Consolidated
Non-current liabilities ¥145.3 billion Consolidated
Non-current assets ¥246.9 billion Consolidated
Land ¥10.2 billion Consolidated
Accounts receivable - trade ¥17.8 billion Consolidated
Contract liabilities ¥2.9 billion Consolidated
Provision for loss on store closing ¥1.0 billion Consolidated
Buildings and structures, net ¥152.4 billion Consolidated
Construction in progress ¥9.5 billion Consolidated
Provision for directors' retirement benefits ¥0.5 billion Consolidated
Investments and other assets ¥31.7 billion Consolidated
Investment securities ¥9.6 billion Consolidated
Notes and accounts payable - trade ¥71.3 billion Consolidated
Lease and guarantee deposits ¥10.5 billion Consolidated
Property, plant and equipment ¥196.3 billion Consolidated
Accounts receivable - other ¥22.4 billion Consolidated
Income taxes payable ¥3.9 billion Consolidated
Accounts payable - other ¥14.0 billion Consolidated
Shareholders' equity ¥136.6 billion Consolidated
Machinery, equipment and vehicles, net ¥8.7 billion Consolidated
Current liabilities ¥124.6 billion Consolidated
Current assets ¥164.0 billion Consolidated
Accumulated depreciation ¥-101.4 billion Consolidated
Provision for loss on disaster ¥11.00 million Consolidated
Intangible assets ¥18.9 billion Consolidated
Cash and cash equivalents ¥58.7 billion Consolidated
Cash and deposits ¥58.9 billion Consolidated
Short-term loans payable ¥0.1 billion Consolidated
Net assets ¥141.0 billion Consolidated
Net assets ¥141.0 billion Consolidated
Total assets ¥410.9 billion Consolidated
Deferred tax assets ¥4.7 billion Consolidated
Treasury stock ¥-2.5 billion Consolidated
Valuation and translation adjustments ¥4.5 billion Consolidated
Liabilities ¥269.9 billion Consolidated
Liabilities and net assets ¥410.9 billion Consolidated
Allowance for doubtful accounts ¥-10.00 million Consolidated
Allowance for doubtful accounts ¥-61.00 million Consolidated
Capital surplus ¥17.3 billion Consolidated
Capital stock ¥16.7 billion Consolidated
Asset retirement obligations ¥16.1 billion Consolidated
Provision for bonuses ¥2.2 billion Consolidated
Long-term loans payable ¥119.9 billion Consolidated
Current portion of long-term loans payable ¥21.9 billion Consolidated
Other ¥1.00 million Parent only
Other ¥4.00 million Parent only
Retained earnings ¥43.8 billion Parent only
Legal retained earnings ¥0.1 billion Parent only
Non-current liabilities ¥10.9 billion Parent only
Non-current assets ¥28.3 billion Parent only
Provision for directors' retirement benefits ¥0.1 billion Parent only
Investments and other assets ¥28.3 billion Parent only
Property, plant and equipment ¥0 Parent only
Accounts receivable - other ¥0.1 billion Parent only
Income taxes payable ¥85.00 million Parent only
Accounts payable - other ¥69.00 million Parent only
Shareholders' equity ¥73.7 billion Parent only
Current liabilities ¥1.9 billion Parent only
Current assets ¥58.2 billion Parent only
Intangible assets ¥1.00 million Parent only
Cash and deposits ¥11.8 billion Parent only
Short-term loans receivable with resale agreement ¥46.3 billion Parent only
Net assets ¥73.7 billion Parent only
Net assets ¥73.7 billion Parent only
Total assets ¥86.6 billion Parent only
Deferred tax assets ¥67.00 million Parent only
Retained earnings brought forward ¥43.7 billion Parent only
Treasury stock ¥-2.5 billion Parent only
Liabilities ¥12.8 billion Parent only
Liabilities and net assets ¥86.6 billion Parent only
Capital surplus ¥15.7 billion Parent only
Legal capital surplus ¥15.7 billion Parent only
Capital stock ¥16.7 billion Parent only
Provision for bonuses ¥71.00 million Parent only
Long-term loans payable ¥10.8 billion Parent only
Long-term loans receivable ¥5.5 billion Parent only
Shares of subsidiaries and associates ¥22.8 billion Parent only
Current portion of long-term loans payable ¥1.7 billion Parent only

Statement of income (77 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.8 billion Consolidated
Other ¥0.4 billion Consolidated
Other comprehensive income ¥3.5 billion Consolidated
Valuation difference on available for sale securities net of tax ¥3.5 billion Consolidated
Dividends from surplus ¥-1.5 billion Consolidated
Comprehensive income ¥20.6 billion Consolidated
Interest income ¥0.2 billion Consolidated
Commission fee ¥0.4 billion Consolidated
Dividend income ¥0.2 billion Consolidated
Operating income ¥27.1 billion Consolidated
Non-operating income ¥2.4 billion Consolidated
Non-operating expenses ¥1.8 billion Consolidated
Net cash provided by (used in) operating activities ¥37.3 billion Consolidated
Gain on Donated Fixed Assets ¥31.00 million Consolidated
Loss on sale of non-current assets ¥1.00 million Consolidated
Gain on sales of non-current assets ¥57.00 million Consolidated
Loss on retirement of non-current assets ¥0.2 billion Consolidated
Rents ¥17.3 billion Consolidated
Compensations salaries and allowances ¥41.3 billion Consolidated
Cost of sales ¥417.4 billion Consolidated
Gross profit (loss) ¥149.5 billion Consolidated
Net sales ¥566.9 billion Consolidated
Provision for loss on store closing expenses ¥0.5 billion Consolidated
Net income ¥17.1 billion Consolidated
Net income ¥17.1 billion Consolidated
Net income (loss) ¥17.1 billion Consolidated
Net income (loss) ¥17.1 billion Consolidated
Gain on sales of investment securities ¥15.00 million Consolidated
Loss on valuation of investment securities ¥0.4 billion Consolidated
Net cash provided by (used in) investing activities ¥-42.9 billion Consolidated
Interest expenses ¥1.3 billion Consolidated
Income taxes - current ¥7.7 billion Consolidated
Income taxes ¥6.9 billion Consolidated
Income taxes - deferred ¥-0.7 billion Consolidated
Depreciation ¥14.5 billion Consolidated
Impairment loss ¥2.5 billion Consolidated
Loss on disaster ¥0.1 billion Consolidated
Provision for loss on disaster ¥11.00 million Consolidated
Extraordinary income ¥72.00 million Consolidated
Extraordinary loss ¥3.7 billion Consolidated
Net increase (decrease) in cash and cash equivalents ¥10.9 billion Consolidated
Income (loss) before income taxes ¥24.1 billion Consolidated
Income (loss) before income taxes ¥24.1 billion Consolidated
Ordinary income ¥27.7 billion Consolidated
Purchase of treasury stock ¥-23.9 billion Consolidated
Subsidy income ¥0.1 billion Consolidated
Comprehensive income attributable to owners of parent ¥20.6 billion Consolidated
Net cash provided by (used in) financing activities ¥16.5 billion Consolidated
Selling, general and administrative expenses ¥122.4 billion Consolidated
Cost of rent income ¥0.2 billion Consolidated
Provision for bonuses ¥2.2 billion Consolidated
Retirement benefit expenses ¥0.5 billion Consolidated
Other ¥2.00 million Parent only
Other ¥0 Parent only
Dividends from surplus ¥-1.5 billion Parent only
Interest income ¥0.2 billion Parent only
Operating income ¥31.7 billion Parent only
Operating revenue ¥32.8 billion Parent only
Non-operating income ¥0.2 billion Parent only
Non-operating expenses ¥0.1 billion Parent only
Operating expenses ¥1.1 billion Parent only
Net income (loss) ¥31.2 billion Parent only
Net income (loss) ¥31.2 billion Parent only
Directors' compensations ¥0.2 billion Parent only
Provision for directors' retirement benefits ¥16.00 million Parent only
Interest expenses ¥99.00 million Parent only
Commission fees ¥17.00 million Parent only
Income taxes - current ¥0.2 billion Parent only
Income taxes ¥0.2 billion Parent only
Income taxes - deferred ¥-8.00 million Parent only
Extraordinary loss ¥0.4 billion Parent only
Income (loss) before income taxes ¥31.3 billion Parent only
Ordinary income ¥31.8 billion Parent only
Purchase of treasury stock ¥-23.9 billion Parent only
Commission for purchase of treasury shares ¥31.00 million Parent only
Provision for bonuses ¥71.00 million Parent only
Loss on valuation of shares of subsidiaries and associates ¥0.4 billion Parent only

Statement of changes in equity (3 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥-4.7 billion Consolidated
Net changes in items other than shareholders' equity ¥3.5 billion Consolidated
Total changes during the period ¥5.8 billion Parent only

Statement of cash flows (43 items)

ItemValueConsolidated / Non-consolidated
Other ¥-0.4 billion Consolidated
Other ¥-0.4 billion Consolidated
Amortization of goodwill ¥1.3 billion Consolidated
Increase decrease in provision for point card certificates ¥-5.00 million Consolidated
Repayments of lease obligations ¥-3.0 billion Consolidated
Payments for transfer of business2 ¥-1.2 billion Consolidated
Increase decrease in notes and accounts payable trade ¥5.4 billion Consolidated
Interest expenses paid ¥-1.2 billion Consolidated
Interest and dividends income received ¥0.4 billion Consolidated
Interest and dividend income ¥-0.4 billion Consolidated
Gain on sales of non-current assets ¥-57.00 million Consolidated
Loss on retirement of non-current assets ¥0.2 billion Consolidated
Decrease increase in notes and accounts receivable trade ¥4.0 billion Consolidated
Subtotal ¥47.2 billion Consolidated
Increase decrease in provision for loss on store closing ¥0.3 billion Consolidated
Collection of construction assistance fund receivables ¥0 Consolidated
Payments of construction assistance fund receivables ¥-0.6 billion Consolidated
Increase decrease in provision for directors retirement benefits ¥-70.00 million Consolidated
Purchase of investment securities ¥-0 Consolidated
Valuation gains (losses) on investment securities ¥0.4 billion Consolidated
Interest expenses ¥1.3 billion Consolidated
Proceeds from collection of lease and guarantee deposits ¥0.4 billion Consolidated
Payments for lease and guarantee deposits ¥-0.8 billion Consolidated
Purchase of property plant and equipment ¥-33.5 billion Consolidated
Proceeds from sales of property plant and equipment ¥58.00 million Consolidated
Decrease (increase) in inventories ¥-6.1 billion Consolidated
Income taxes paid ¥-9.0 billion Consolidated
Depreciation ¥14.5 billion Consolidated
Impairment loss ¥2.5 billion Consolidated
Increase decrease in provision for loss on disaster ¥5.00 million Consolidated
Purchase of intangible assets ¥-1.1 billion Consolidated
Decrease/increase in short-term loans payable ¥50.00 million Consolidated
Regarding purchase of treasury stock ¥-23.9 billion Consolidated
Proceeds from subsidy-InvCF ¥52.00 million Consolidated
Subsidy income ¥-52.00 million Consolidated
Increase (decrease) in allowance for doubtful accounts ¥-0 Consolidated
Increase (decrease) in provision for bonuses ¥0.1 billion Consolidated
Payments for acquisition in subsidiaries resulting in change in scope of consolidation ¥-5.1 billion Consolidated
Dividends ¥-1.5 billion Consolidated
Proceeds from long term loans payable ¥66.0 billion Consolidated
Repayment of long term loans payable ¥-21.3 billion Consolidated
Payments of long-term loans receivable ¥-59.00 million Consolidated
Collection of long-term loans receivable ¥29.00 million Consolidated
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥37.3 billion ConsolidatedDisclosed
Dividend per share 56 Parent onlyDisclosed
Number of employees 6,355 ConsolidatedDisclosed
Net assets ¥141.0 billion ConsolidatedDisclosed
Net sales ¥566.9 billion ConsolidatedDisclosed
Operating income ¥27.1 billion ConsolidatedDisclosed
Operating revenue ¥32.8 billion Parent onlyDisclosed
Ordinary income ¥27.7 billion ConsolidatedDisclosed
Net income ¥17.1 billion ConsolidatedDisclosed
Total assets ¥410.9 billion ConsolidatedDisclosed
Operating margin 4.8%ConsolidatedCalculated
Net margin 3.0%ConsolidatedCalculated
Sales per employee 89199843 yenConsolidatedCalculated
Total asset turnover 1.38 timesConsolidatedCalculated
Net assets to total assets 34.3%ConsolidatedCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Operating margin 4.8% Operating income ÷ net sales  = ¥27.1 billion ÷ ¥566.9 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Net margin 3% Net income ÷ net sales  = ¥17.1 billion ÷ ¥566.9 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Sales per employee 89,199,843 yen Sales or operating revenue ÷ employees  = ¥566.9 billion ÷ 6,355 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 1.38 times Sales or operating revenue ÷ total assets  = ¥566.9 billion ÷ ¥410.9 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 34.3% Net assets ÷ total assets  = ¥141.0 billion ÷ ¥410.9 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).

Company details

  • Representative President, Representative Director, gBizINFO
  • Consolidated subsidiaries Annual Securities Report

Business activities and revenue composition

  • Breakdown by business: machine transcription of segment information (business divisions used in disclosures) in the annual securities report. No table where segment sales differ from the disclosed total by more than 1%, or where the company reports a single business

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets Net assets ÷ total assets
  • Return on assets (ROA) Net income ÷ total assets (consolidated)
  • Net assets per share Consolidated
  • Free cash flow Free cash flow: operating cash flow (cash generated by the business) plus investing cash flow (asset purchases, disposals and other investments), consolidated
  • Total assets Consolidated
  • Goodwill (the part of the acquisition price above the net assets acquired) 10% of net assets (consolidated)

Capital allocation

  • ★: position when all companies are sorted by value and cut into fifths (a position, not a rating). The five items with ★: only where both numerator and denominator are available on a consolidated basisSee the formulas
  • Cash conversion Net cash provided by (used in) operating activities ÷ operating income
  • Increase in working capital (increase in trade receivables + increase in inventories) ÷ net sales (or operating revenue)。Trade receivables down ¥4.0 billion + inventories up ¥6.1 billion, over net sales ¥566.9 billion
  • Property, plant and equipment purchases relative to depreciation Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥33.5 billion, over depreciation ¥14.5 billion
  • Return to shareholders (dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥1.5 billion + purchase of treasury stock ¥23.9 billion, over operating cash flow ¥37.3 billion
  • Extraordinary gains and losses relative to ordinary profit (extraordinary income − extraordinary loss) ÷ ordinary income。Extraordinary income ¥72.00 million − extraordinary loss ¥3.7 billion, over ordinary income ¥27.7 billion
  • Investment securities to net assets Investment securities ÷ net assets。Investment securities ¥9.6 billion, over net assets ¥141.0 billion

Long-term changes in performance

  • Revenue Disclosed value for 2026 ÷ disclosed value for 2013

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

Dividend history

  • Payout ratio: dividends as a proportion of net profit. Dividend amounts and payout ratios: the reporting company’s parent-only disclosed values (as written in the annual securities report, not recalculated from consolidated profit). Consecutive increases: years in a row, from the latest backwards, in which the annual dividend per share rose. Consecutive years with a dividend: years in a row with an annual dividend per share above zero. Both this site’s own count (not the criteria of any published index). A year with no disclosure not read as zero; counting stops there. Range limited to the years listed above. Flagged 2 years: a note about a stock split or share consolidation, or a period other than 12 months. No calculation across those years, as the dividend per share may rest on a different share base.

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Retail Trade that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years. Share of revenue: divided by consolidated revenue in the same annual securities report. Industry median: the middle value among companies in Retail Trade that disclose the item (industries with at least 5 companies only).

Revenue scale in the same industry

  • Revenue (disclosed values) of companies in the same industry, using the same grouping as the industry pages. Only the top three and the two companies either side of this one. Bar length relative to the largest company (100). An order of size, not a ranking of quality

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Employees across the consolidated group: 6,355 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Retail Trade that disclose the item (industries with at least 5 companies only).

People and organisation

  • Sales per employee Net sales (or operating revenue) ÷ employees
  • Operating income per employee Operating income ÷ employees
  • Average temporary staff Consolidated, average headcount other than regular employees

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of KUSURI NO AOKI HOLDINGS CO., LTD. on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 9220002009323 / Accounting standard: Japanese GAAP

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork