Alfresa Holdings Corporation
2784・Prime Market・Wholesale Trade
Prescription Pharmaceutical Wholesale Business
Core business accounting for approximately 89% of group sales. Nationwide wholesale distribution of prescription pharmaceuticals and medical devices.
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (segment total, including internal sales) | ¥2,782,584 million | ¥2,640,048 million | ↑ |
| Sales (external customers) | ¥2,763,082 million | ¥2,621,062 million | ↑ |
| Operating income | ¥33,297 million | ¥33,055 million | ↑ |
| Segment assets | ¥1,311,151 million | ¥1,238,091 million | ↑ |
| Depreciation | ¥7,672 million | ¥7,661 million | — |
| Increase in property, plant and equipment and intangible assets (capital expenditure) | ¥12,571 million | ¥14,034 million | ↓ |
Business Details
Centered on Alfresa Corporation, regional subsidiaries such as Shikoku Alfresa, TS Alfresa, and Tohoku Alfresa engage in the wholesale distribution of prescription pharmaceuticals, in-vitro diagnostic reagents, medical devices and materials. Serving hospitals, clinics, and dispensing pharmacies as customers, the segment leverages the industry's largest MS (marketing specialist) network to distribute specialty pharmaceuticals and medical products. It also develops value-added services such as SPD business and regenerative medicine supply chain operations, forming the core of the Total Supply Chain Services (TSCS) framework.
Recent Overview
Achieved higher sales and profit despite headwinds from the interim-year drug price revision and rising logistics costs, while expanding the nationwide network through M&A.
In FY2026 (ending March 2026), amid a challenging operating environment marked by the negative impact of the April 2025 interim-year drug price revision and soaring logistics costs including personnel expenses, the company achieved sales growth exceeding market growth through promotion of the Neo-Primary strategy and increased handling of specialty pharmaceuticals and other limited-distribution products. Sales to external customers were ¥2,763,082 million (up 5.4% year on year), and operating income was ¥33,297 million (up 0.7%). On the M&A front, the company made three specialized medical device distributors subsidiaries, strengthening its nationwide medical product distribution network. Eight consolidated subsidiaries newly acquired ISO9001 certification, improving distribution quality.
Key Products
Growth Drivers
- Sales growth exceeding market growth driven by increased handling of specialty pharmaceuticals and limited-distribution products
- Promotion of the Neo-Primary strategy leveraging the industry's largest MS network and high sales growth in the clinic sales channel
- Strengthening of the nationwide network through M&A of specialized medical device distributors (subsidiarization of Miyano Medics, East Japan Medical System, and Techno Suzuta)
- Enhanced distribution quality and customer satisfaction through promotion of ISO9001 certification acquisition (8 companies newly certified in the current period)
- Building a revenue base through solutions businesses such as the regenerative medicine supply chain and Vaccine Platto
- Creating new business opportunities by supporting overseas emerging biopharmaceutical companies' entry into Japan through PATH-Solution
Risks
- Negative impact on sales and profit from annual drug price revisions (including the April 2025 interim-year revision) and the impact of U.S. MFN drug pricing policy
- Pressure on operating margin from rising personnel costs, logistics costs, and depreciation
- Costs and supply chain risks associated with responding to drug supply instability (e.g., generic drug shortages)
- Risk of declining gross margin due to rising procurement prices
- Changes in demand structure resulting from institutional changes such as the introduction of the selective treatment coverage system for long-listed products
Last updated: June 23, 2026