Tsuruha

What Tsuruha does

Tsuruha Holdings Inc. is the largest drugstore and dispensing pharmacy chain operator in Japan by store count, operating 5,665 domestic stores (of which 3,324 are dispensing pharmacies) as of May 2026 across all 47 Japanese prefectures following its December 2025 business integration with Welcia Holdings. The group runs two sub-groups—Tsuruha Group (8 brands) and Welcia Group (15 brands)—offering an integrated retail format that combines prescription dispensing, OTC medications, cosmetics, daily necessities, health food, nursing care products, and pharmacist-led consultation under one roof. Its customer base is overwhelmingly mass-market Japanese consumers, with additional services directed at elderly and chronic disease patients through home-visit pharmacy, multilingual pharmacy (English, Chinese) with AI-assisted translation, and pharmacist "pre-avoidance" activities to prevent adverse drug events.

The group's technology stack centers on a cloud-based pharmacy and inventory management platform enabling single-item inventory control, inter-store stock transfer, prescription processing, and data-driven merchandising across the full network. Operational AI deployments include a ChatGPT- and voice-recognition-powered medication history input system (developed with Wemex, targeting ~60% documentation time reduction), a Brycen-built OCR "B-Luck Expiration Date Check" deployed across approximately 2,300 stores (80% workload reduction, 75% time reduction), and an internally developed high-security AI translation tool used at Kyorindo pharmacies for foreign-patient counseling. Private brand portfolio—Kurashi Rhythm (with sub-brands cera aQua co-developed with Fancl, La ViLLA ViTA, Orezo co-developed with Rohto, and Kurashi no Otomo)—is sold exclusively across the network.

Tsuruha generates revenue primarily through retail drugstore transactions, prescription dispensing billed under Japan's national health insurance scheme, e-commerce sales (shop.tsuruha.co.jp and e-welcia.com), private brand product sales, group merchandising/logistics services to subsidiaries, and ancillary insurance agency fees. The group operates an O2O model with store pickup for e-commerce orders, a mobile app with beacon-based couponing and loyalty points, and a network of medical malls integrating pharmacy with clinics and wellness services. Following Aeon Co.'s January 2026 tender offer, Tsuruha is now a consolidated subsidiary of Aeon Group, with a three-way drugstore/pharmacy merger between Aeon, Tsuruha, and Welcia targeted for 2027.

Name

Tsuruha

Legal name

株式会社ツルハホールディングス

Website

https://tsuruha-hd.co.jp

Company type

Public

Founded year

1929

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Tsuruha Holdings operates Japan's largest drugstore and dispensing pharmacy chain with 5,665 domestic stores across all 47 prefectures following its 2025 Welcia integration, serving mass-market consumers with prescription dispensing, OTC medications, cosmetics, daily necessities, and private brand products under the Tsuruha and Welcia sub-groups.

Ownership category

akta.pro rank

Product category

Retail Pharmacy

NAICS

Pharmacies and Drug Retailers (45611), Pharmacies and Drug Retailers (456110), Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Discount Drugstores (Value-Focused Chain Pharmacies) (CRAEAHAA)

akta.pro secondary industries

Health & Pharmacy Omnichannel (CRAFAEAK), Health, Wellness & Pharmacy Online Retailers (CRAFADAG), Pharmacy Front-End & Sundries Distribution (Health & Wellness, Personal Care, Convenience) (CRAOAHAG), Discount Drugstores with DME/Home Medical (Value Medical Supply) (CRAEAHAG)

Keywords

• Retail pharmacy services
• Drugstore chain operations
• Prescription dispensing services
• OTC medication retail
• Nursing care services

Headquarters

HQ city

Sapporo

HQ country

Japan

HQ region

Asia

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Retail Drugstore Sales: Sale of pharmaceutical products, OTC drugs, cosmetics, daily necessities, food, and health supplements through company-operated drugstore chains. Tsuruha Group operates 5,665 stores (as of May 2026), with 3,324 dispensing pharmacies. Stores are organized under multiple brands including Tsuruha Drug, Kusurinofukutaro, Wellness, Wants, Lady Drug, Kyorindo, and Drug Eleven (Tsuruha Group), and Welcia, Hac Drug, Dacs, Happy Drug, Yodoya Drug, Marue Drug, Superdrug Himawari, Kokumin, Fukuyakuhin, and Welpark (Welcia Group).
2. Dispensing Pharmacy Services: Prescription medication dispensing services through 3,324 pharmacy counters. Provides medication guidance, drug therapy management, home visit pharmacy services, and pre-avoidance (プレアボイド) activities to prevent adverse drug reactions. Revenue from national health insurance billing.
3. E-commerce / Mail Order: Online sales through Tsuruha Group e-shop (shop.tsuruha.co.jp) and Welcia official online store (e-welcia.com), plus telephone and FAX catalog orders. Offers pharmaceutical products, supplements, health, beauty, and diet products. Group loyalty points are accepted.
4. Nursing Care Services: Nursing care product sales, consultation services, and support center services. Includes nursing care product retail, home nursing care consulting, and care welfare product sales through specialized staff at select stores.
5. Group Support Services: Logistics, merchandise procurement, private brand product planning and sales promotion, life insurance and property insurance agency services through Tsuruha Group Merchandising and Tsuruha Financial Services subsidiaries.
6. Private Brand Products: Sale of Kurashi Rhythm, Kurashi Rhythm Medical, cera aQua (joint with Fancl), La ViLLA ViTA, Orezo (joint with Rohto), Hokkaido series, Kurashi no Otomo products, and other exclusive products under the group's private brand labels.

Go-to-market motion2 records

Distribution channels8 records

Marketing channels12 records

Core offering

Tsuruha Holdings operates Japan's largest drugstore chain with 5,665 stores across all 47 prefectures (as of May 2026), selling pharmaceutical products, OTC medications, cosmetics, daily necessities, food, and health supplements. The group also operates 3,324 dispensing pharmacies providing prescription medication dispensing, medication guidance, home visit pharmacy services, and pharmacist-led pre-avoidance (adverse drug reaction prevention) activities under the national health insurance system. The business encompasses two sub-groups (Tsuruha Group and Welcia Group) operating 26+ regional store brands, complemented by private brand products, e-commerce platforms, nursing care services, and financial services through its subsidiaries.

Product overview

Tsuruha Holdings Inc. is Japan's second-largest drugstore/pharmacy chain (parent of Tsuruha Group and Welcia Group), operating a total of 5,665 domestic stores (3,324 dispensing pharmacies) as of May 2026, making it the country's largest drugstore chain by store count. The group operates under two subgroups: the Tsuruha Group (8 regional store brands including Tsuruha Drug, Kusurinofukutaro, Drug Wellness, Wants, Kusurinoleddy, Kyorindo, and Drug Eleven) and the Welcia Group (15 brands including Welcia, Hack Drug, Kokumin, and others). The product and service portfolio spans: (1) retail drugstore operations under multiple regional brands, (2) dispensing pharmacy/healthcare services including medication dispensing, home healthcare visits, and pharmacist counseling, (3) nursing care services and welfare equipment, (4) private brand products under Kurashi Rhythm / Kurashi Rhythm MEDICAL (including sub-brands cera aQua skincare, La ViLLA ViTA hair cosmetics, Orezo UV care, pharmacist-recommended food series, Hokkaido series, and Kurashi no Otomo daily goods), (5) e-commerce via shop.tsuruha.co.jp and e-welcia.com, (6) a group mobile app with loyalty points and Beacon-based services, and (7) financial services and group merchandising support operations.

Differentiator

Problem solved

Functional benefit

Brands

• くらしリズム (Kurashi Rhythm): Private brand launched in 2018, offering quality daily products at reasonable prices including medications, daily goods, and food products
• くらしリズム ナチュラル (Kurashi Rhythm Natural)
• セラ アクア (cera aQua)
• ラ・ヴィラ・ヴィータ (La ViLLA ViTA)
• オレゾ (Orezo)
• くらしリズム ハピカム (Kurashi Rhythm HapYcom)

Products and services

• Tsuruha Group Retail Drugstore Operations Retail drugstore operations under 26+ regional store brands including Tsuruha Drug, Welcia, Kusurinofukutaro, Drug Wellness, Wants, Lady Drug, Kyorindo, Drug Eleven, Hac Drug, Kokumin, and others, totaling 5,665 domestic stores across all 47 Japanese prefectures as of May 2026. Serves individual consumers with pharmaceutical products, OTC medications, cosmetics, daily necessities, food, and health supplements.
• Tsuruha Group Dispensing Pharmacy Services Prescription medication dispensing services through 3,324 dispensing pharmacies, providing prescription filling, medication guidance, drug therapy management, home visit pharmacy services, and pharmacist-led pre-avoidance activities to prevent adverse drug reactions. Revenue is earned through national health insurance billing.
• Tsuruha Group E-shop Online shopping platform at shop.tsuruha.co.jp offering pharmaceutical products, supplements, health, beauty, and diet products with group loyalty points acceptance and store pickup integration.
• Welcia Official Online Store Welcia Group's official e-commerce site at e-welcia.com selling prescription OTC products, supplements, and health products under the Welcia brand.
• Nursing Care Services Comprehensive nursing care services including nursing care product retail, home nursing care consulting, welfare equipment sales, and care consultation services operated through specialized staff at select stores and dedicated subsidiaries.
• Tsuruha Financial Services Life insurance and non-life insurance agency services operated as a group subsidiary, providing insurance products to customers across the Tsuruha Group store network.
• Kurashi Rhythm / Kurashi Rhythm MEDICAL Private Brand Tsuruha Group's core private brand launched in 2018, covering pharmaceuticals, OTC medications, daily goods, and household essentials. Kurashi Rhythm MEDICAL is the pharmaceutical-grade sub-line with safe and reliable OTC products.
• cera aQua Skincare Line Dry and sensitive skin skincare line developed jointly with FANCL Corporation under the Kurashi Rhythm brand, focusing on skin barrier care from cleansing to serums.
• La ViLLA ViTA Hair Cosmetics Hair cosmetic brand focusing on scalp and hair care products, developed by Tsuruha Group's cosmetics staff for consumers with hair concerns.
• Orezo UV/Anti-Aging Skincare UV protection and anti-aging care UV series developed with Rohto Pharmaceutical, sold exclusively at Tsuruha Group stores, targeting prevention of UV damage and skin aging.

Quantifiable outcome

• 80% reduction in workload and 75% reduction in time spent on expiration date management across ~2,300 stores (monthly labor hours: 60 → 15 hours)
• +5 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• UN World Food Programme (WFP) / Japan Association for the WFP (国連WFP協会)minorStrategic or Co-development Partner · 1 October 2024Tsuruha Group participates in the UN WFP 'Red Cup Campaign' through sales of the 'Kurashi no Otomo' (100-yen snacks) product line. A portion of sales is donated to WFP's school meal program supporting children in developing countries. Campaign period: October 16, 2025 to October 15, 2026.
• Welcia Holdings Co., Ltd. (ウエルシアホールディングス株式会社)coreStrategic or Co-development Partner · 1 April 2024Tsuruha Holdings completed a full business integration with Welcia Holdings via a share exchange on December 1, 2025. Welcia became a wholly-owned subsidiary. This integration created Japan's most geographically comprehensive drugstore group with stores in all 47 prefectures. The integration is part of a broader three-way merger plan with Aeon Co. targeting 2027. Joint management, shared logistics optimization, private brand product development, and IT systems integration are key synergy areas.
• Oki Healthcare Holdings Co., Ltd. (大木ヘルスケアホールディングス株式会社)minorStrategic or Co-development Partner · 1 January 2024Oki Healthcare Holdings donates nutritional functional food 'Papa Vitamin Jelly' to Hokkaido children's cafeterias through the Tsuruha Group Kodomo食堂 Yutaka Fund, leveraging Tsuruha's community network.
• Matsuyama City / Ehime University / Rohto Pharmaceutical (松山市 / 愛媛大学 / ロート製薬)minorStrategic or Co-development Partner · 4 July 2023Four-party health promotion partnership between Matsuyama City, Ehime University Graduate School of Medicine, Rohto Pharmaceutical, and Lady Pharmacy (a Tsuruha Group subsidiary). Signed July 4, 2023, focused on community health promotion initiatives.
• NPO Liaison / Musubie - National Center for Children's Cafeteria Support (全国こども食堂支援センター・むすびえ)minorStrategic or Co-development Partner · 1 January 2023Tsuruha Group partners with Musubie to redirect revenue from paid plastic bag sales to support children's cafeteria ( Kodomo食堂) operators across Tsuruha Group store regions. The 'Kodomo食堂 Yutaka Fund' provides financial support to community-based meal programs for children.
• Rohto Pharmaceutical Co., Ltd. (ロート製薬株式会社)minorStrategic or Co-development Partner · 1 October 2021Tsuruha Group exclusive partnership with Rohto Pharmaceutical for the 'Orezo (オレゾ)' UV protection skincare brand. Orezo was developed from Rohto's skin research on UV and UV-induced skin damage for anti-aging care. Sold exclusively at Tsuruha Group stores.
• Japan Sun Tec Co., Ltd. (日本サニパック株式会社)minorStrategic or Co-development Partner · 1 October 2021Joint development of the environmentally-friendly 'Kurashi Rhythm nocoo とって付きポリ袋' plastic bag using limestone (calcium carbonate) instead of petroleum-derived materials. Co-developed product achieves ~40% CO2 reduction compared to conventional polyethylene bags. Total CO2 reduction from sales: approximately 746 tons (October 2021 to February 2026).
• Pharmaceutical Wholesalers (医药品卸)minorChannel Partner/ Reseller/ Distributor · 1 January 2021Tsuruha Group partners with pharmaceutical wholesalers on delivery frequency optimization, reducing pharmaceutical waste and CO2 emissions from transportation through shared logistics and inventory management.
• Fancl Corporation (ファンケル株式会社)coreStrategic or Co-development Partner · 1 September 2018Joint development partnership producing the private brand skincare line 'cera aQua (セラアクア)' under the Kurashi Rhythm brand. The product focuses on dry and sensitive skin with a barrier-care approach, developed through Fancl's skincare expertise combined with Tsuruha Group's retail channel insights. Products range from cleansing to serums. The partnership demonstrates co-creation between drugstore retailer and cosmetics manufacturer.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Sundrug Co., Ltd. Major Japanese drugstore chain operating nationwide with combined drugstore and dispensing pharmacy model — directly comparable in store count, OTC and dispensing mix, and merchandise breadth to Tsuruha.
• MatsukiyoCocokara & Co. Japan's largest drugstore/pharmacy chain by revenue formed from the merger of Matsumoto Kiyoshi and Cocokara Fine, operating nationwide stores with pharmacy, OTC, and cosmetics focus — directly comparable business model to Tsuruha.
• Sugi Holdings Co., Ltd. Drugstore chain with strong dispensing pharmacy and H&B focus primarily in central Japan, comparable in pharmacy-anchored drugstore format and customer demographics to Tsuruha.
• Create SD Holdings Co., Ltd. Drugstore/pharmacy operator including the 'Sundrug' offshoot originally before separation; comparable drugstore + dispensing pharmacy combination in regional Japanese markets — overlapping product and customer offering.
• Cosmos Pharmaceutical Co., Ltd. Value-focused drugstore chain in Japan (operating 'Drug Cosmos' and 'Cosmos Drug' banners) competing directly in everyday OTC and lower-priced drug retail — comparable format, scale-tier competitor to Tsuruha.
• Welcia Holdings: Pre-merger peer and now wholly-owned Tsuruha subsidiary; second-largest Japan drugstore chain with strong dispensing pharmacy presence and similar H&B+pharmacy integrated retail model — most direct competitor until full business integration Dec 2025.

Broad incumbents

• Aeon Co., Ltd. Japan's largest retail conglomerate and parent of Tsuruha (consolidated subsidiary since Jan 2026); Aeon operates supermarkets, mall-based drugstores via Aeon Pharmacy, and broader retail — overlap with Tsuruha via in-store pharmacy and adjacent drugstore brands within the planned 2027 three-way merger.
• Pan Pacific International Holdings (Don Quijote): Major Japanese discount retailer with extensive footprint including H&B, OTC, cosmetics and daily goods assortment that overlaps materially with Tsuruha's drugstore front-end offering — broader discount retail incumbent intersecting in-store traffic and product categories.

Others

• Medipal Holdings Corporation: Pharmaceutical wholesaler/distributor serving Tsuruha's pharmacy network and broader Japan pharmacy markets; adjacent B2B pharmaceutical distribution player connected to Tsuruha via drug supply chain and PSAO services.

Emerging players

• Kusuri no Aoki Holdings Co., Ltd. Regional drugstore chain historically aligned with Aeon Group via capital alliance (which dissolved post-Tsuruha integration); comparable drugstore + dispensing pharmacy model competing for overlapping customer and territory with Tsuruha.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/tsuruhaofficial
• YouTubeyoutube.com/channel/UCb7oBqMci6Kzfj0wVzuBPkg
• Facebookfacebook.com/tsuruha.drug
• LinkedInlinkedin.com/company/tsuruha-holdings
• Instagraminstagram.com/tsuruha_official/?hl=ja

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries26 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tsuruha