SATUDORA HOLDINGS

What SATUDORA HOLDINGS does

SATUDORA HOLDINGS CO., LTD. is a Sapporo-headquartered pure holding company listed on the Tokyo Stock Exchange First Section under stock code 3544, with the operating drugstore business tracing back to 1972 and the holding company structure established in August 2016. The group's core is Sapphoro Drug Store, a chain of approximately 200 drugstores in Hokkaido supplemented by 6 stores in Taiwan, selling pharmaceuticals, daily necessities, and health-related merchandise under the Sapphoro Drug Store and CREARE brands, with pharmacy dispensing services. Beyond retail, the company operates an integrated Regional Connected Business Platform: the EZOCA common point card system with over 2 million Hokkaido members, the new EZO Pay QR-code payment service, the EZOHUB coworking and incubation network in Sapporo and Tokyo, and municipal MaaS deployments in Esashi and Hakodate built with academic and technology partners.

Revenue is generated through one-time retail and wholesale product sales, transaction fees on the EZOCA loyalty and EZO Pay platforms, subscription and rental income from EZOHUB co-working memberships and retail-tech demo field access, and partnership-driven services such as the Retail Connect OMO advertising platform co-developed with CyberAgent and AWL. The company is deeply embedded with Hokkaido municipalities through 40+ regional partnership agreements, and pursues a venture-style expansion via minority stakes in space (Interstellar Technologies), healthcare (Netkin), sports (Consadole Sapporo), and education (SOZOW), complemented by its own S Ventures CVC entity. Customer segments span Hokkaido general consumers (primary retail), Hokkaido municipalities seeking regional revitalization and mobility solutions, startups and entrepreneurs using EZOHUB, and retail media partners nationwide using the Retail Connect platform.

Name

SATUDORA HOLDINGS

Legal name

サツドラホールディングス株式会社

Website

https://satudora-hd.co.jp

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

SATUDORA HOLDINGS operates a Hokkaido-centered drugstore chain of approximately 200 stores and an integrated Regional Connected Business Platform combining the EZOCA loyalty system (2M+ members), EZO Pay, EZOHUB incubation spaces, and municipal MaaS services.

Ownership category

akta.pro rank

Product category

Drugstore Retail

NAICS

Pharmacies and Drug Retailers (45611), Pharmacies and Drug Retailers (456110), Health and Personal Care Retailers (456), Drugs and Druggists' Sundries Merchant Wholesalers (424210)

SIC

Retail-Drug Stores And Proprietary Stores (5912), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122), Retail-Nonstore Retailers (5960)

akta.pro primary industry

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

akta.pro secondary industries

Health & Pharmacy Omnichannel (CRAFAEAK), Discount Drugstores with Clinics (Retail Health Clinics) (CRAEAHAE), Pharmacy Benefit/Channel Services (PSAO, 340B Admin, Chargebacks/Rebates Ops) (CRAOAHAK)

Keywords

• Regional drugstore chain
• Point card platform
• Regional payment service
• Coworking incubation spaces
• Mobility-as-a-service

Headquarters

HQ city

Sapporo

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Retail Drugstore Operations: Revenue from approximately 200 drugstore locations across Hokkaido selling pharmaceutical products, daily necessities, and health-related merchandise. Includes pharmacy/dispensing services. Main brand: Sapphoro Drug Store (サッポロドラッグストアー).
2. Wholesale and Product Development: Wholesale distribution of products and development of private brand merchandise for group companies and partners.
3. EZOCA Platform Services: Common point card system with over 2 million Hokkaido members generating revenue through transaction fees, merchant partnerships, and data services. Includes EZO Money electronic money and EZO Pay QR payment services operated by subsidiary Regional Marketing.
4. POS System Development: Development and operation of point-of-sale systems by subsidiary GRIT WORKS for retail operations and partner integration.
5. Incubation Platform (EZOHUB): Revenue from coworking memberships, private offices, event spaces, and corporate/regional partner programs at EZOHUB Sapporo and EZOHUB Tokyo facilities.
6. Retailtech Membership: Premium membership program enabling access to retail demonstration fields and POC (proof of concept) facilities for technology partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

SATUDORA HOLDINGS operates a Hokkaido-centered drugstore retail chain of approximately 200 stores selling pharmaceuticals, daily necessities, and health-related merchandise, complemented by a digital Regional Connected Business platform comprising the EZOCA point card (2 million+ members), EZO Pay regional payment service, OMO retail media platform (Retail Connect), and EZOHUB coworking/incubation spaces. The company also develops private brand products, provides wholesale distribution, operates pharmacy/dispensing services, and runs MaaS mobility solutions for regional communities.

Product overview

SATUDORA HOLDINGS operates a diversified business portfolio centered on its core drugstore chain (サッポロドラッグストアー) with approximately 200 stores in Hokkaido. The company has evolved from a traditional drugstore model into a Regional Connected Business platform, integrating retail operations with regional point card systems (EZOCA with 2M+ members), digital payment services (EZO Pay), and retail media advertising (Satudora InStore Ads via OMO platform Retail Connect developed with CyberAgent and AWL). Key product lines include the EZOHUB incubation platform offering coworking spaces, event venues, and retail tech demo fields; MaaS mobility services (江差マース, 未来大AIマース) combining transportation with regional economic data; and various regional EZOCA variants for municipal economic circulation. The company also operates specialty retail concepts (北海道くらし百貨店), the CREARE urban brand, health applications (サツドラウォーク), and invests in technology ventures through S Ventures.

Differentiator

Problem solved

Functional benefit

Products and services

• Sapphoro Drug Store Retail Chain (サッポロドラッグストアー) Core drugstore retail chain operating approximately 200 stores across Hokkaido, Japan. Sells pharmaceuticals, OTC medications, health products, daily necessities, cosmetics, and food items. Includes pharmacy/dispensing services, 24-hour stores, and home delivery options. Targets local Hokkaido residents seeking health and convenience products.
• EZOCA Regional Point Card System Regional common point card and electronic money platform with 2 million+ members across Hokkaido. Enables unified point accumulation and redemption at 2,000+ partner merchants including convenience stores, supermarkets, restaurants, and local shops. Includes EZO Money electronic money functionality and municipal variants such as Esashi EZOCA and Koshimizu EZOCA. Generates revenue through transaction fees and merchant partnerships.
• EZO Pay Regional Payment Service QR code-based regional digital payment service developed by subsidiary Regional Marketing. Connects local merchants and enables cashless transactions across Hokkaido. Supports single terminal accepting multiple domestic and international mobile payments. Targets consumers and merchants in Hokkaido for regional economic circulation.
• Retail Connect OMO Platform (リテールコネクト) OMO (Online Merges with Offline) platform co-developed with CyberAgent and AWL, combining digital signage, AI cameras, EC sites, and mobile apps into unified retail media advertising infrastructure for nationwide store operators. Includes Satudora InStore Ads promotional media using AI cameras and digital signage, deployed initially across 20 Satudora stores. Targets retail businesses seeking digital transformation and advertising revenue.
• EZOHUB Coworking and Incubation Platform Regional incubation platform with coworking spaces (EZOHUB Sapporo and EZOHUB Tokyo), event venues, private offices, corporate partnerships, and retail tech demonstration fields. Offers tiered memberships including Co-working Member (24,200 yen/month), Event Space rental, Corporate Partner (1,100,000 yen/year), and Retailtech Member (3,960,000 yen/year). Targets startups, entrepreneurs, corporates, and retail technology partners seeking regional connections and proof-of-concept facilities.
• Esashi MaaS (江差マース) Mobility-as-a-Service platform in Esashi combining on-demand bus (jumbo taxi) services with regional EZOCA point system to create revenue circulation models for local transportation. Developed with partners including Ekitan (route search), Miraishare (SAVS demand-responsive transport), Hakodate Future University, and Sapporo City University. Targets municipalities and residents in areas with declining public transit.
• FutureAI MaaS (未来大AIマース) AI-powered on-demand transportation service in Hakodate City's Akagawa/Mihara area, integrating smartphone apps, smart speakers, and fixed tablets for booking. Combined with shopping data analysis to optimize transit and retail integration. Developed in partnership with Ekitan, Miraishare, Hakodate Future University, and Sapporo City University.
• Wholesale and Private Brand Product Development

Quantifiable outcome

• 2 million+ EZOCA members across Hokkaido
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration21 records

AI capability5 records

Feature6 records

Partnerships

33 partnerships are on record, tiered major, core and minor.

• Town of Iwanai (岩内町)majorStrategic or Co-development Partner · 20 October 2025Comprehensive partnership agreement for regional revitalization. Includes community development, tourism, and local economic promotion.
• Hokkaido Agricultural Cooperative Association (NOSAI北海道 / 北海道農業共済組合)majorStrategic or Co-development Partner · 7 March 2025Comprehensive partnership for agricultural support and regional food system development.
• Town of Hidaka (日高町)majorStrategic or Co-development Partner · 29 August 2024Comprehensive partnership agreement for regional revitalization and local development initiatives.
• City of SapporocoreStrategic or Co-development Partner · 8 July 2024Wellness partner agreement for promoting health initiatives. Collaboration on health-related programs for city residents.
• Dentsu Hokkaido (株式会社電通北海道)coreStrategic or Co-development Partner · 29 May 2024Partnership in Ezo Class Internship Tour connecting Tokyo students with Hokkaido companies. Collaboration on regional talent development and U-turn employment promotion.
• Job Kita (北海道アルバイト情報社)coreGTM or Marketing Partner · 29 May 2024Partnership in Ezo Class Internship Tour for regional talent development. Job Kita's recruitment platform used for student recruitment.
• Yamato Transport (ヤマト運輸)majorStrategic or Co-development Partner · 25 July 2023Partnership agreement for logistics and delivery collaboration. Leverages Yamato's logistics network for enhanced delivery services.
• Hokkaido Nippon-Ham Fighters (北海道日本ハムファイターズ)majorGTM or Marketing Partner · 17 March 2023Official sponsor partnership. Collaboration on sports marketing and regional promotion activities.
• Consadole Sapporo (コンサドーレ)coreStrategic or Co-development Partner · 30 September 2022Professional football club partnership via subsidiary Regional Marketing. Includes Consadole EZOCA support program and community-based regional development initiatives. Partner since 2015.
• Interstellar Technologies Co., Ltd. (インターステラテクノロジズ)coreStrategic or Co-development Partner · 31 July 2022Space technology partnership with Hokkaido-based rocket company headquartered in Taiki Town. Includes stock acquisition and collaboration on 'Super Carbonated Water x MOMO Project' (1 yen per product donated to rocket development). Both companies share Hokkaido roots and regional revitalization goals.
• NetStars (株式会社ネットスターズ)coreTechnology or Integration · 17 March 2022Capital and business partnership for QR code payment services. Regional Marketing (RM) receives capital investment and seconded director. Joint development of next-generation payment infrastructure and regional digital currency services.
• Itol Group Holdings (株式会社イトイグループホールディングス)coreStrategic or Co-development Partner · 15 March 2022Three-party partnership with Shibetsu City for regional digital currency and zero-carbon city initiatives. First three-party public-private partnership for Satudora.
• CyberAgent (サイバーエージェント)coreTechnology or Integration · 1 February 2022Joint development of OMO platform 'Retail Connect' with CyberAgent and AWL for nationwide retail advertising services. Includes Satudora InStore Ads development and Digital Signage x AI Camera solutions.
• AWL Corporation (AWL株式会社)coreTechnology or Integration · 1 February 2022Joint development of OMO platform 'Retail Connect' for nationwide retail advertising services. AWL provides AI camera solutions for security, customer service optimization, and in-store promotions.
• POLAR SHORTCUT (株式会社ポーラーショートカット)coreStrategic or Co-development Partner · 29 June 2021Hokkaido startup ecosystem support partnership. POLAR SHORTCUT provides funding, hands-on support, and Tokyo startup community connections. Satudora offers EZOHUB Sapporo special plans for portfolio companies and POC field opportunities.
• G's Academy Unit Sapporo (シーラクンス運営)coreImplementation/ SI/ Consulting Partner · 29 June 2021Operator of G's Academy Sapporo, an entrepreneur/engineer training school licensed from Digital Hollywood. Part of startup ecosystem development.
• RxR Innovation Initiative (RxR Innovation Initiative株式会社)coreStrategic or Co-development Partner · 29 June 2021Group company for overseas project collaboration and demonstration experiment support, primarily focused on US market.
• Ekitan (株式会社駅探)coreTechnology or Integration · 4 November 2020MaaS business development partnership for Hokkaido region. Ekitan provides route search and scheduling technology for mobility-as-a-service platform.
• Miraishare (株式会社未来シェア)coreTechnology or Integration · 4 November 2020MaaS business development partnership for Hokkaido region. Miraishare provides SAVS (demand-responsive transport) technology for on-demand mobility services.
• Hakodate Future University (公立はこだて未来大学)coreStrategic or Co-development Partner · 4 November 2020MaaS business development partnership for Hokkaido region. Academic partner providing research and development for mobility services.
• Sapporo City University (札幌市立大学)coreStrategic or Co-development Partner · 4 November 2020MaaS business development partnership for Hokkaido region. Academic partner for transportation research.
• Medipeace (メドピア)coreStrategic or Co-development Partner · 13 May 2020Healthcare partnership. Joint development of 'Satudora Walk' step-counting app with Mediplat subsidiary. Health platform strategy.
• Mediplat (株式会社Mediplat)coreStrategic or Co-development Partner · 13 May 2020Healthcare platform development partnership. Satudora Walk app development for health promotion connecting drugstore services with health tracking.
• Hokkaido Television Broadcasting (HTB北海道テレビ)majorGTM or Marketing Partner · 30 January 2019Media partnership for regional content and marketing collaboration.
• Hokuren (ホクレン)majorChannel Partner/ Reseller/ Distributor · 23 January 2019EZOCA partnership with Hokuren Agricultural Cooperative. Hokuren Shop locations serve as EZOCA acceptance points.
• Joyful AK (ジョイフルエーケー)majorChannel Partner/ Reseller/ Distributor · 23 January 2019EZOCA partnership with Joyful AK. Combined with Hokuren and others for regional point card network expansion.
• Hokkaido Bank (北海道銀行)majorTechnology or Integration · 23 January 2019QR code payment service partnership. Hokuhoku Pay connection to RM-StarPay system for expanded payment options.
• Rohto Pharmaceutical (ロート製薬)minorGTM or Marketing Partner · 23 January 2019Social partner project supporting Sorapuchi Kids Camp. Collaborative CSR activities.
• Alipay (Ant Financial)majorTechnology or Integration · 23 July 2018First Hokkaido enterprise to sign Alipay partnership agreement. Expanded inbound payment services for Chinese tourists.
• LINE Pay JapanmajorTechnology or Integration · 16 April 2018QR code payment service partnership. First Hokkaido enterprise to partner with LINE Pay for payment processing.
• Toyota Motor (トヨタ自動車)minorStrategic or Co-development Partner · 12 October 2017Regional activation app pilot experiment. Joint development of regional revitalization app connecting local services.
• Mobike Japan (モバイク・オブ・ラパン)minorGTM or Marketing Partner · 23 August 2017First in Japan smart bike share partnership. Smart bike share service launch in Sapporo.
• WeChat Pay (weltide/微信支付)majorTechnology or Integration · 8 August 2017Inbound tourism payment service. WeChat Pay acceptance at 123+ stores in Hokkaido (August 2017). Part of inbound tourism support.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Rakuten Group: Major Japanese e-commerce and fintech conglomerate operating Rakuten Pay, Rakuten Points loyalty, and online pharmacy businesses. Comparable as a digital ecosystem player competing with Satudora's regional platform across loyalty, payments, and online retail categories at national scale.
• PayPay (Z Holdings / SoftBank Group): Dominant QR payment platform in Japan with 60M+ registered users, integrated into Satudora stores since February 2019. Comparable as a regional/digital payment competitor to Satudora's EZO Pay and EZOCA platform services, with vastly greater scale and nationwide reach.

Direct peers

• Welcia Holdings: Japan's largest drugstore chain operator with over 2,800 stores. Directly comparable as a chain pharmacy retailer combining prescription dispensing, daily necessities, and digital platform services, but at a national scale many times larger than Satudora's Hokkaido-focused footprint.
• Sugi Holdings: Drugstore and pharmacy chain operating 1,500+ stores with emphasis on dispensing services and healthcare-focused retail. Comparable to Satudora's integrated pharmacy + retail approach, with similar customer demographic targeting.
• Sundrug: Drugstore chain operator with 1,300+ stores across Japan offering pharmaceuticals, daily necessities, and dispensing services. Comparable as a multi-format chain pharmacy competitor, including discount-focused store brands overlapping with Satudora's value positioning.
• Tsuruha Holdings: Major Japanese drugstore chain with 2,500+ stores across Japan, operating chain pharmacies with dispensing services. Comparable in core retail drugstore model and platform/digital strategy, though geographically distributed across multiple regions rather than concentrated in Hokkaido.
• Genky DrugStores: Drugstore chain focused on discount-priced pharmaceuticals and daily necessities with 400+ stores. Comparable to Satudora in value pharmacy positioning, though concentrated in western Japan rather than Hokkaido.
• Create SD Holdings: Drugstore chain with 700+ stores, including discount-focused Drug cosmetic formats. Comparable to Satudora as a mid-sized regional/national chain pharmacy operator with overlapping customer base in daily necessities and OTC products.
• Cosmos Pharmaceutical: Discount drugstore chain with 1,400+ stores focused on value pricing. Direct competitor to Satudora in the chain pharmacy segment, with comparable store counts and similar value-chain retail format competing for the same everyday consumer spend.
• Matsukiyo Cocokara & Company: Drugstore chain formed through merger of Matsumoto Kiyoshi and Cocokara Fine, operating 3,000+ stores including prescription pharmacies. Comparable in pharmacy integration and consumer health focus, though operating at significantly larger national scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/satudora_hd
• YouTubeyoutube.com/channel/UC_m8Uo3FdRvV2577ak3TM-Q
• LinkedInlinkedin.com/company/satudora-holdings
• Instagraminstagram.com/ezohub2020

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments4 records

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

Frequently asked questions about SATUDORA HOLDINGS