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Operates a large Japanese drugstore chain selling cosmetics, health products and everyday goods.
Operates a large Japanese drugstore chain selling cosmetics, health products and everyday goods.
Earns from retail sales across its drugstores, where cosmetics and everyday goods bring in most of the margin and prescription dispensing adds steady fees, with own-brand items earning more than branded goods. Merging Matsumotokiyoshi and Cocokara Fine in 2021 made it one of Japan's largest drugstore groups, with more buying power over suppliers.
In one line: Japan's CVS/Walgreens.
Moat: narrow (scale, distribution). Large store network from the Matsumotokiyoshi-Cocokara merger gives purchasing scale.
Headquarters: Chiba, Japan · Founded: 2021 · Employees: 14,293
Size MatsukiyoCocokara & (3088.T) is a Japan Consumer Staples company (Drugstore Chains) with a market value of $6.78B, the 185th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,683 on 6 Nov 2026.
Performance Over six months the shares gained 17.4%, against +14.8% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 7 in its peer set.
Growth Revenue grew 5.4% over the last twelve months (peer median +8.0%); the operating margin is 7.6% (peer median 5.6%).
Valuation It trades at 17.5× forward earnings against a peer median of 17.0× (3rd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.13T | ¥1.12T | ¥1.06T | ¥1.02T | ¥951B |
| Revenue growth | — | +5% | +4% | +7% | — |
| Gross profit | ¥396B | ¥370B | ¥350B | ¥332B | ¥309B |
| EBITDA | ¥111B | ¥109B | ¥105B | ¥98.6B | ¥83.5B |
| Net income | ¥57.7B | ¥55.8B | ¥54.7B | ¥52.3B | ¥40.5B |
| Free cash flow | n/a | ¥59.9B | ¥72.6B | ¥50.3B | ¥50.5B |
| Capital expenditure | n/a | ¥20.5B | ¥14.8B | ¥22.0B | ¥17.8B |
| Total debt | ¥15.9B | ¥3.63B | ¥2.21B | ¥20.7B | ¥21.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| MatsukiyoCocokara & 3088.T | $6.78B | +17% | +5% | 8% | 17.5× | -6.2% |
| TSURUHA 3391.T | $6.74B | +15% | +114% | 4% | 22.2× | -2.3% |
| Sugi 7649.T | $3.27B | -23% | +9% | 5% | 16.8× | -9.7% |
| COSMOS Pharmaceutical 3349.T | $3.20B | +5% | +9% | 4% | 15.7× | n/a |
| Kusuri No Aoki 3549.T | $2.88B | +26% | +13% | 5% | 21.2× | 4.1% |
| Sundrug 9989.T | $2.77B | -1% | +4% | 5% | 13.3× | -8.0% |
| Create SD 3148.T | $1.30B | -2% | +9% | 5% | n/a | -11.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3088.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.5% | +8.4% | 4th highest of 7 |
| 6-month return | +17.4% | +14.8% | 2nd highest of 7 |
| Distance from 52-week high | -11.3% | -14.3% | 3rd highest of 7 |
| Revenue growth (TTM) | +5.4% | +8.0% | 3rd lowest of 7 |
| Operating margin | 7.6% | 5.6% | 3rd highest of 7 |
| Forward P/E | 17.5× | 17.0× | 3rd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | -6.2% | -8.5% | 3rd most demanding of 7 |
| Growth delivered (Del g) | +15.5% | +12.1% | 2nd highest of 7 |
| Hurdle (Req g minus delivered) | -21.6 pp | -17.2 pp | 3rd least demanding of 7 |
| ROIC minus cost of capital | +8.3 pp | +9.7 pp | 4th highest of 7 |
| EV / EBITDA | 8.9× | 7.5× | 2nd most expensive of 5 |
| Net debt / EBITDA | -0.8× | -0.3× | least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MatsukiyoCocokara & 3088.T | Japan | $6.78B | +17% | +5% | 8% | 17.5× | -6.2% | +15.5% |
| TSURUHA 3391.T | Japan | $6.74B | +15% | +114% | 4% | 22.2× | -2.3% | +9.6% |
| Yifeng Pharmacy Chain 603939.SS | China | $4.91B | +17% | +5% | 10% | 17.2× | -9.2% | +13.2% |
| DaShenLin Pharmaceutical 603233.SS | China | $3.80B | +15% | +7% | 8% | 16.6× | -9.0% | +13.6% |
| Sugi 7649.T | Japan | $3.27B | -23% | +9% | 5% | 16.8× | -9.7% | +10.9% |
| Sundrug 9989.T | Japan | $2.77B | -1% | +4% | 5% | 13.3× | -8.0% | +5.8% |
| Guardian Pharmacy Services GRDN | United States | $2.68B | +17% | +10% | 6% | 30.6× | 4.1% | +16.8% |