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One of Japan's largest pharmaceutical wholesalers, distributing drugs and medical devices to hospitals and pharmacies.
One of Japan's largest pharmaceutical wholesalers, distributing drugs and medical devices to hospitals and pharmacies.
Buys drugs from manufacturers and resells them to hospitals and pharmacies for a thin margin, so income depends on volume and on the government-set drug price list, which is revised regularly, usually downward. One of four nationwide wholesalers that dominate Japan's drug distribution, alongside Medipal, Alfresa and Toho.
In one line: Japan's AmerisourceBergen.
Moat: narrow (scale, distribution, regulatory licence). Nationwide licensed distribution network and scale purchasing in a low-margin, logistics-heavy business.
Headquarters: Nagoya, Japan · Founded: 1946 · Employees: 12,717
Size Suzuken (9987.T) is a Japan Health Care company (Medical Distributors) with a market value of $2.29B, the 446th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥5,293 on 6 Nov 2026.
Performance Over six months the shares fell 9.2%, against +4.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 4.7% over the last twelve months (peer median +6.4%); the operating margin is 1.4% (peer median 3.5%).
Valuation It trades at 15.0× forward earnings against a peer median of 17.4× (6th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.52T | ¥2.49T | ¥2.40T | ¥2.39T | ¥2.31T |
| Revenue growth | — | +4% | +1% | +3% | — |
| Gross profit | ¥193B | ¥193B | ¥192B | ¥185B | ¥180B |
| EBITDA | ¥47.6B | ¥48.7B | ¥49.2B | ¥43.6B | ¥41.5B |
| Net income | ¥37.7B | ¥38.1B | ¥34.5B | ¥29.0B | ¥20.3B |
| Free cash flow | n/a | ¥18.5B | -¥79.4B | ¥76.4B | ¥22.2B |
| Capital expenditure | n/a | ¥17.8B | ¥18.6B | ¥15.6B | ¥17.7B |
| Total debt | ¥24.4B | ¥1.78B | ¥1.80B | ¥1.80B | ¥1.80B |
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 |
|---|---|---|---|---|---|---|
| Suzuken 9987.T | $2.29B | -9% | +5% | 1% | 15.0× | -11.9% |
| MEDIPAL 7459.T | $3.67B | +14% | +4% | 1% | 12.6× | -7.4% |
| Alfresa 2784.T | $2.79B | -3% | +5% | 1% | 17.4× | -9.1% |
| Toho 8129.T | $1.60B | -14% | +4% | 1% | 21.6× | -7.4% |
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 | 9987.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.1% | +3.1% | 10th highest of 21 |
| 6-month return | -9.2% | +4.7% | 4th lowest of 21 |
| Distance from 52-week high | -20.6% | -14.3% | 6th lowest of 21 |
| Revenue growth (TTM) | +4.7% | +6.4% | 9th lowest of 21 |
| Operating margin | 1.4% | 3.5% | 7th lowest of 21 |
| Forward P/E | 15.0× | 17.4× | 6th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -11.9% | -1.1% | 2nd least demanding of 17 |
| Growth delivered (Del g) | +3.2% | +7.0% | 2nd lowest of 17 |
| Hurdle (Req g minus delivered) | -15.0 pp | -7.9 pp | 4th least demanding of 17 |
| ROIC minus cost of capital | +3.3 pp | +1.6 pp | 6th highest of 21 |
| Net debt / EBITDA | -2.6× | 0.4× | 4th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Suzuken 9987.T | Japan | $2.29B | -9% | +5% | 1% | 15.0× | -11.9% | +3.2% |
| Hanmi Science 008930.KS | South Korea | $2.71B | +44% | +6% | 5% | n/a | 24.2% | +9.6% |
| Alfresa 2784.T | Japan | $2.79B | -3% | +5% | 1% | 17.4× | -9.1% | +3.5% |
| Asker Healthcare ASKER.ST | Sweden | $2.98B | -5% | +12% | 7% | 26.6× | 1.2% | +12.7% |
| COSMOS Pharmaceutical 3349.T | Japan | $3.20B | +5% | +9% | 4% | 15.7× | n/a | n/a |
| Redcare Pharmacy RDC.DE | Germany | $1.63B | +52% | +19% | 0% | n/a | n/a | n/a |
| Toho 8129.T | Japan | $1.60B | -14% | +4% | 1% | 21.6× | -7.4% | +5.1% |
| MEDIPAL 7459.T | Japan | $3.67B | +14% | +4% | 1% | 12.6× | -7.4% | +3.5% |
| Amplifon AMP.MI | Italy | $3.72B | +13% | 0% | 9% | 18.1× | 9.5% | +9.8% |
| Ship Healthcare 3360.T | Japan | $1.34B | +4% | +7% | 3% | 13.8× | -14.7% | +7.6% |
| Jointown Pharmaceutical 600998.SS | China | $3.96B | +1% | +9% | 2% | 11.7× | 0.1% | +7.8% |
| Shanghai C and D INNOSTIC Medical Technology 301584.SZ | China | $1.20B | -28% | +8% | 3% | n/a | -1.3% | +17.9% |
| Shinva Medical Instrument 600587.SS | China | $1.16B | -7% | +6% | 5% | 14.2× | -5.9% | +1.2% |
| AS ONE 7476.T | Japan | $1.08B | +15% | +10% | 12% | 18.2× | -1.0% | +6.3% |
| Nanjing Pharmaceutical 600713.SS | China | $1.03B | +1% | +3% | 2% | n/a | n/a | n/a |
| DocMorris DOCM.SW | Switzerland | $1.02B | +136% | +11% | -8% | n/a | n/a | n/a |
| Arjo ARJO-B.ST | Sweden | $1.02B | +48% | 0% | 8% | 21.3× | -1.3% | +3.9% |
| Guangxi LiuYao 603368.SS | China | $994M | +2% | +2% | 5% | 9.9× | -9.5% | +6.0% |
| Galenica GALE.SW | Switzerland | $5.46B | +8% | +6% | 5% | 23.4× | 6.9% | +3.5% |
| Shanghai Haohai Biological Technology 688366.SS | China | $946M | -24% | -9% | -2% | 17.4× | 18.9% | +13.2% |
| Entero Healthcare Solutions ENTERO.NS | India | $875M | +50% | +32% | 4% | 46.5× | 21.8% | +29.9% |