HYUGA PRIMARY CARE Co.,Ltd.
7133・Growth Market・Retail Trade
Home-Visit Pharmacy Business
A home-visit-dispensing-focused pharmacy business, the core segment accounting for approximately 70% of group revenue.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (full year) | ¥8,395 million | ¥7,117 million | ↑ |
| Segment profit (full year) | ¥645 million | ¥647 million | ↓ |
| Number of home-care patients (at fiscal year-end) | 12,474 | 9,971 (prior fiscal year-end estimate) | ↑ |
| Number of stores (at fiscal year-end) | 63 stores | 53 stores | ↑ |
| Revenue year-on-year change rate | +18.0% | — | ↑ |
| Segment profit year-on-year change rate | -0.3% | — | ↓ |
Business Details
A dispensing pharmacy business that provides medications to outpatients and home-care patients based on prescriptions from medical institutions. Stores are located in Western Japan (mainly around Fukuoka City) and Eastern Japan (around Yokohama and Chiba cities, and, from FY2025, Sapporo City). The business primarily targets home-care patients with high medical dependency and high care-need levels, providing a 24-hour pharmacist visitation service. As of the end of FY2026 (ending March 2026), the number of stores reached 63 and the number of home-care patients reached a record 12,474.
Recent Overview
Opened a record 10 new stores and home-care patient count rose 25%, but Sapporo expansion costs weighed on profit.
In FY2026, the company opened a record 10 new stores, including 3 stores in the newly established base of Sapporo City. The number of home-care patients reached a record 12,474 (up 25.1% year on year). On the other hand, in addition to increased travel expenses associated with remote-area store openings in Imari City, Saga Prefecture and Sapporo City, the company deployed a large number of personnel from existing areas to accept over 700 home-care patients in the Sapporo area within a short period of roughly three months, resulting in a significant increase in recruiting costs and labor costs. Revenue expanded to ¥8,395 million (up 18.0% year on year), but segment profit saw only a slight decline to ¥645 million (down 0.3% year on year). For FY2027 (ending March 2027), the company plans for more than 14,000 home-care patients and 68 stores, forecasting revenue of ¥8,960 million and segment profit of ¥699 million.
Key Products
Growth Drivers
- Continued increase in the number of care-need individuals and home-care patients driven by progressing aging of the population
- Market expansion driven by government policies promoting home medical care (hospital bed reductions and expansion of the community-based integrated care system)
- Expansion of demand for home-care pharmacies against the backdrop of the June 2026 dispensing fee revision (full-scale response to home medical/nursing care)
- Improved delivery efficiency and aggressive expansion into new bases (Hokkaido and Kanto) through a dominant store-opening strategy
- Accelerated store openings through reduced workload and improved pharmacist retention via generative AI-powered RPA, and enhanced staffing systems
- Reduced administrative workload and improved profitability through the POS register system for home-visit pharmacies (full-scale operation planned for October 2026)
- Progress toward realizing the central pharmacy concept following the lifting of the ban on outsourcing dispensing operations under the amended Pharmaceuticals and Medical Devices Act
Risks
- Risk that upfront costs (travel expenses, recruiting costs, labor costs) associated with new store openings and expansion into remote areas (e.g., Sapporo) will pressure profit in the short term
- Risk of recruiting difficulty and turnover due to pharmacist shortages and heavy workloads
- Risk of reduced technical fee revenue due to the April 2026 dispensing fee revision (requiring careful assessment of store-opening areas)
- Risk that staffing and delivery systems will fail to keep pace with the increase in home-care patients
- Risk of impairment losses (an impairment loss of ¥89 million was recorded in the home-visit pharmacy business in FY2026)
- Risk of administrative burden related to billing and accounts-receivable management specific to home-visit pharmacies (transitional risk before the POS register system becomes operational)
Last updated: June 25, 2026