株式会社ツルハホールディングス

What 株式会社ツルハホールディングス does

Tsuruha Holdings Inc. (株式会社ツルハホールディングス, TSE Prime ticker 3391) is the operating parent of Japan's largest drugstore and dispensing pharmacy retail network, with 5,663 stores across all 47 prefectures as of June 2026, of which 3,329 locations host dispensing pharmacy counters. The group operates through two sub-holdings, Tsuruha Group and Welcia Group (integrated via share exchange in December 2025), running more than 20 regional store banners including Tsuruha Drug, Welcia, Kusuri no Fukutaro, Kyorindo, Drug Eleven, Kokumin, and Wants. Headcount stands at approximately 50,000 group employees and 113,839 total employees including part-time staff, with consolidated net sales of ¥1,450,585 million reported for the fiscal year ending February 2026. International operations exist in Thailand, Singapore, and Vietnam.

Core products span pharmaceutical retail (OTC drugs, prescription dispensing, supplements), cosmetics and personal care, daily necessities, baby products, and private-brand goods under the Kurashi Rhythm label, with co-developed lines such as cera aqua (with Fancl) and exclusive Orezo UV-protection skincare (with Rohto). Technology infrastructure includes a single-item pharmacy inventory control system that enables real-time inter-store stock transfers, a ChatGPT-plus-voice-recognition AI pilot for pharmacy medication history documentation developed with Wemex and deployed since May 2024, beacon-based in-store personalization, and a digital prescription knowledge-retrieval system. Additional offerings include the Tsuruha Group e-shop (online mail-order since 2009), home nursing and welfare equipment rental, insurance agency services through Tsuruha Financial Service, and a digital health service launched with Omron Healthcare in August 2026 for blood-pressure management.

The business model is primarily direct-to-consumer physical retail of pharmaceutical, health, beauty, and daily-needs products, complemented by transaction-fee dispensing pharmacy services, e-commerce and mail-order sales, managed home-care services, and professional-services insurance agency work. Following Aeon's completion of a tender offer in January 2026 that made Tsuruha a consolidated subsidiary, the company retains its brand portfolio and operational independence while gaining access to group-level capital, procurement, and cross-retail synergies through Aeon.

Name

株式会社ツルハホールディングス

Legal name

株式会社ツルハホールディングス

Website

https://tsuruha-hd.com

Company type

Public

Founded year

1963

Operating status

Operating

Headcount range

11–50 employees

Short description

Tsuruha Holdings is Japan's largest drugstore chain operator, running 5,663 stores and 3,329 dispensing pharmacies across all 47 prefectures via the Tsuruha and Welcia Groups under Aeon, serving individual consumers with pharmaceuticals, cosmetics, daily necessities, and private-brand products.

Ownership category

akta.pro rank

Product category

Drugstore Retail

NAICS

Pharmacies and Drug Retailers (45611), Health and Personal Care Retailers (456)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

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

akta.pro secondary industries

Value Pharmacies & Deep-Discount Pharmacy Retail (CRAEAHAB), Discount Drugstores with Front-End General Merchandise (Value GM) (CRAEAHAI)

Keywords

• Drugstore retail
• Dispensing pharmacy
• Health and beauty products
• Pharmaceutical services
• Private label products

Headquarters

HQ city

Sapporo (札幌市)

HQ country

Japan

HQ region

Asia

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Drugstore Retail Sales: Sale of pharmaceutical products, OTC drugs, cosmetics, daily necessities, baby products, and health supplements through owned retail store chains across Japan. Includes private brand products under the 'Kurashi Rhythm' label.
2. Dispensing Pharmacy Services: Prescription filling, medication counseling, home pharmacy visits, and related pharmaceutical care services. Operates 3,329 dispensing pharmacy counters as of June 2026.
3. E-commerce / Mail-order: Online shopping via Tsuruha Group e-shop and telephone/FAX catalog orders, providing nationwide reach beyond physical store locations. Launched 2009.
4. Home Care / Nursing Services: Home nursing and welfare equipment rental and consulting services through specialized care service centers attached to select stores.
5. Insurance Agency Services: Life and non-life insurance agency services through Tsuruha Financial Service, leveraging customer foot traffic.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels10 records

Core offering

Tsuruha Holdings operates Japan's largest drugstore chain network through 5,663 domestic retail stores (as of June 2026) selling OTC pharmaceuticals, prescription dispensing services (3,329 pharmacy counters), cosmetics, daily necessities, baby products, health supplements, and home care products. The group operates under two sub-holdings (Tsuruha Group and Welcia Group) with 20+ store brand banners covering all 47 Japanese prefectures, supplemented by e-commerce mail-order, catalog sales, in-store health counseling by pharmacists and registered dietitians, and private brand products under the Kurashi Rhythm label.

Product overview

Tsuruha Holdings operates Japan's largest drugstore chain network with 5,663 stores (as of June 2026), including 3,329 dispensing pharmacies. The group consists of two main sub-holdings: Tsuruha Group (with brands including Tsuruha Drug, Kusuri no Fukutaro, Drug Wellness, Wants, Kusuri no Lady, Kyorindo, Drug Eleven) and Welcia Group (with brands including Welcia, Hack Drug, Kokumin, and others). Core business includes drugstore retail, dispensing pharmacy services, nursing care services, and e-commerce. Private brands include Kurashi Rhythm (launched 2018), cera aQua skincare (co-developed with Fancl), and regional specialty products. The group provides digital health services including AI-powered medication history documentation support and Omron blood pressure management partnerships. Online services include the Tsuruha Group e-shop for mail-order sales.

Differentiator

Problem solved

Functional benefit

Products and services

• Tsuruha Drug (ツルハドラッグ) Core drugstore brand operating across Hokkaido, Tohoku, Kanto, Chubu, Kansai, and Shikoku regions. Main retail chain offering pharmaceuticals, OTC drugs, cosmetics, and daily necessities for general consumers.
• Welcia (ウエルシア) Dispensing pharmacy-centered drugstore chain under Welcia Holdings. Operates in Tohoku, Kanto, Chubu, Kansai, Chugoku, Shikoku, and Kyushu regions, emphasizing pharmaceutical services and health consultations.
• Dispensing Pharmacy Services (調剤薬局サービス)

Quantifiable outcome

• ~60% reduction in pharmacy note documentation time through AI voice recognition trial
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability8 records

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Omron Healthcare Co., Ltd. (オムロンヘルスケア株式会社)coreStrategic or Co-development Partner · 1 August 2026Launched joint blood pressure management support service 'Tsuruha Group Registered Dietitian Blood Pressure Care Support' (ツルハグループ管理栄養士の血圧ケアサポート). Combines Omron's blood pressure monitoring technology with Tsuruha Group dietitian expertise to support customer health management.
• 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 December 2025Business integration effective December 1, 2025. Welcia Holdings became a wholly-owned subsidiary through stock exchange. Combined entity achieves nationwide coverage across all 47 Japanese prefectures with approximately 5,600+ stores.
• UN World Food Programme (国連WFP) / Japan Association (国連WFP協会)minorGTM or Marketing Partner · 1 October 2024Participation in the 'Red Cup Campaign' (レッドカップキャンペーン). A portion of sales from Kurashi Omo series (100-yen snacks) is donated to WFP's school meal program. Campaign period October 2025 - October 2026.
• Wemex Corporation (株式会社ウィーメックス)coreTechnology or Integration · 16 May 2024Trial implementation of ChatGPT and voice recognition AI for pharmacy medication history documentation at select Tsuruha stores. Aims to reduce pharmacy documentation time by approximately 60%.
• 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 partnership agreement on community health promotion. ReDay Pharmacy (subsidiary) participates with Matsuyama City, Ehime University Graduate School of Medicine, and Rohto Pharmaceutical to promote citizen health.
• Japan Committee for UNICEF (公益財団法人日本ユニセフ協会)minorGTM or Marketing Partner · 1 January 2020Donated revenue from plastic bag charges to UNICEF Japan. Received Purple Ribbon citation (褒状) from the government in June 2021 for this contribution.
• Hokkaido Watome Town / Local Social Welfare Councils (道民の森/各地社会福祉協議会)minorGTM or Marketing Partner · 1 January 2020Tsuruha forest planting activities in Hokkaido; wheelchair donation program to social welfare councils nationwide (4,265 wheelchairs donated since 2000).
• Fancl Corporation (ファンケル株式会社)coreStrategic or Co-development PartnerCo-developed 'cera aqua' (セラアクア) skincare brand under the Kurashi Rhythm private label. cera aqua addresses dry and sensitive skin by focusing on skin barrier function, developed leveraging Fancl's cosmetic R&D and Tsuruha's customer insight from pharmacy operations.
• Rohto Pharmaceutical Co., Ltd. (ロート製薬株式会社)minorOEM/ Whitelabel/ Licensing PartnerExclusive Tsuruha Group sales of 'Orezo' (オレゾ) UV protection/anti-aging skincare series. Developed from Rohto's dermatological skin research, targeting UV damage and skin aging prevention.
• NPO Your Ibasho (特定非営利活動法人あなたのいばしょ)minorStrategic or Co-development PartnerCollaboration on loneliness and isolation countermeasures (孤独・孤立対策). NPO operates a dedicated chat counseling service for people struggling with isolation. Tsuruha Group promotes this service through its stores and website as part of its social contribution.
• NPO Musubi-e / National Children's Cafeteria Support Center (NPOL法人全国こども食堂支援センター・むすびえ)minorGTM or Marketing PartnerCollaborative 'Children's Cafeteria Yutaka Fund' (こども食堂ゆたかさ基金). Revenue from plastic bag charges donated to support children's cafeterias in areas where Tsuruha Group stores are located.
• Ohki Healthcare Holdings Co., Ltd. (大木ヘルスケアホールディングス株式会社)minorGTM or Marketing PartnerDonated Papa Vitamin Jelly nutritional functional food to Hokkaido children's cafeterias through the Tsuruha Group Children's Cafeteria Yutaka Fund, coordinated via Ohki's subsidiary Daiku Pharmaceutical.
• Japan Sanipak Co., Ltd. (日本サニパック株式会社)minorOEM/ Whitelabel/ Licensing PartnerCo-developed 'Kurashi Rhythm nocoo' take-out plastic bag using limestone (calcium carbonate) as partial raw material, reducing plastic usage and CO2 emissions by ~40% compared to conventional polyethylene bags.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Sundrug Co., Ltd. Major Japanese drugstore chain with ~1,300 stores focused on value pricing and dispensing pharmacy. Competes head-to-head with Tsuruha in Kanto and Kansai regions with a similar drugstore-plus-dispensing model.
• Sugi Holdings: Pharmacy-led drugstore operator with strong dispensing focus and a smaller front-end assortment than Tsuruha. Closely comparable in pharmacy-clinical service orientation.
• Genky DrugStores: Discount drugstore chain operating in Kanto and Chubu regions with value pricing strategy. Comparable in store format, category mix, and competitive overlap with Tsuruha Drug banners.
• Welcia Holdings (now Tsuruha subsidiary): Pre-merger direct competitor; now wholly-owned subsidiary of Tsuruha (Dec 2025 integration). Operated dispensing-pharmacy-centered drugstores across Kanto, Chubu, and Kansai under Welcia, Hack Drug, and Kokumin banners.
• Create SD Holdings: Drugstore chain operating in Hokuriku and Kansai regions with both discount drug and dispensing pharmacy formats. Comparable in business model and mid-cap chain positioning.
• Matsumotokiyoshi Holdings: Japan's largest drugstore chain by revenue (~¥1T+), operating Matsumoto Kiyoshi and Cocokara Fine banners. Directly comparable as a multi-banner drugstore and dispensing pharmacy operator competing for the same nationwide footprint and customer base as Tsuruha.
• Cosmos Pharmaceutical Corporation: Discount drugstore operator with ~1,400 stores focused on low-price cosmetics, daily goods, and OTC. Directly competes with Tsuruha's value positioning in western Japan and overlapping customer segments.
• Kohnan Shoji: Mid-sized drugstore and home center chain operating primarily in Kansai. Comparable in store format and category mix (drugstore plus hardware/general merchandise).

Broad incumbents

• AEON Co., Ltd. (parent): Tsuruha's parent company following Jan 2026 tender offer. Japan's largest retail conglomerate operating supermarkets (AEON, MaxValu), convenience stores (Ministop), and financial services. Provides scale, loyalty, and real estate synergies rather than direct drugstore competition.
• Rakuten Group (e-commerce comparison): Major e-commerce and fintech platform competing with Tsuruha's online drugstore business. Relevant for omnichannel benchmarking and digital pharmacy strategy, though not a brick-and-mortar drugstore competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tsuruha-hd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about 株式会社ツルハホールディングス