Medical Ikkou Group Co.,Ltd.
3353・Standard Market・Retail Trade
Dispensing Pharmacy Business
The group's flagship business. A revenue base operating 97 stores nationwide, centered on prescription dispensing.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Q1 FY2027, ending March 2027) | ¥6,620 million | ¥6,543 million (Q1 FY2026, ending March 2026) | ↑ |
| Operating profit (Q1 FY2027, ending March 2027) | ¥319 million | ¥340 million (Q1 FY2026, ending March 2026) | ↓ |
| Operating profit margin (Q1 FY2027, ending March 2027) | 4.8% | 5.2% (Q1 FY2026, ending March 2026) | ↓ |
| Number of stores at period-end | 97 stores | 98 stores (end of FY2026, ending March 2026) | ↓ |
| Revenue (full-year FY2026, ending March 2026) | ¥26,291 million | — | — |
| Operating profit (full-year FY2026, ending March 2026) | ¥1,373 million | — | — |
Business Details
Medical Ikko Co., Ltd., Healthy Yakkyoku Co., Ltd., and Kyoju Yakuhin Co., Ltd. operate dispensing pharmacies that fill prescriptions. Based in Mie Prefecture, the business has expanded its footprint to 1 metropolis, 1 prefecture (Hokkaido), 2 urban prefectures, and 24 prefectures. Revenue sources are drug fees and technical fees, etc., with the company promoting the expansion of community collaboration pharmacies and specialized medical institution collaboration pharmacies, as well as home healthcare support. Revenue for Q1 FY2027 (ending March 2027) (March to May 2026) was ¥6,620 million, making this the core segment accounting for approximately 46.6% of group consolidated revenue.
Recent Overview
Due to a decrease in existing-store prescriptions filled and a reduction in the number of stores, operating profit declined 6.2% year-on-year.
In Q1 FY2027 (ending March 2027) (March to May 2026), the number of prescriptions filled at existing stores decreased slightly year-on-year. The total number of prescriptions filled across all stores also decreased due to the reduction in the number of stores (from 98 to 97). While revenue secured a slight increase to ¥6,620 million (up 1.2% year-on-year), operating profit decreased to ¥319 million (down 6.2% year-on-year). Despite the increase in revenue, profit declined, suggesting cost pressures.
Key Products
Growth Drivers
- Revenue improvement due to rising prescription unit prices (increase in technical fees, etc.)
- Improved unit prices through expanded certification of community collaboration pharmacies and specialized medical institution collaboration pharmacies
- Continued scale expansion strategy through new store openings and business transfers utilizing M&A
- Acquisition of new patients through strengthened home healthcare support
- Regional expansion of the dispensing pharmacy business alongside the expansion of the group's overall business locations (1 metropolis, 1 prefecture (Hokkaido), 2 urban prefectures, and 24 prefectures)
Risks
- The number of prescriptions filled at existing stores is on a downward trend year-on-year, making maintenance and expansion of patient numbers a challenge
- The number of stores has decreased from 98 to 97, and the total number of prescriptions filled across all stores has also declined
- Downward pressure on revenue and profit from drug price revisions (reductions occurring once every two years)
- Risk of a worsening industry-wide revenue environment ahead of dispensing remuneration revisions
- Risk of profit pressure from pharmacist shortages and rising personnel costs
- Burden of integration costs and goodwill amortization from M&A
Last updated: May 19, 2026