Ain Holdings Inc. · TSE:9627
Ain — FY4/25 Earnings Presentation
40 slides from Ain's earnings presentation, Jun 12, 2025
Slide 1: FY4/25 IR Presentation
FY4/25 IR PRESENTATION June 12, 2025
Slide 2: Results Overview
Results Overview © AIN HOLDINGS INC. All Rights Reserved. 1
Slide 3: Consolidated P/L
Consolidated P/L Net sales increased 14.3% YoY and 0.7% against the plan due to growth at existing stores and stores opened in the previous year in both businesses, as well as supported by the consolidation of Francfranc. Ordinary profit decreased 15.4% YoY and 9.6% against the plan. FY4/24 FY4/25 F
Slide 4: Dispensing Pharmacy Business (Consolidated)
Dispensing Pharmacy Business (Consolidated) Net sales increased 7.6% YoY and 1.3% against the plan due to average prescription price rose because of an increase in high-cost prescriptions. Segment profit decreased 12.0% YoY and 4.0% against the plan because of the effect of dispensing fee revisions,
Slide 5: Retail Business (Consolidated)
Retail Business (Consolidated) Net sales up 96.2% YoY and decreased 0.4% against the plan, supported by the consolidation of Francfranc, and due to steady growth in the number of customers at existing AINZ & TULPE stores and those opened in the previous fiscal year. Segment profit increased 55.2% Yo
Slide 6: Consolidated B/S
Consolidated B/S Net cash became ¥ (11,740) million due to funds procured for the acquisition of shares associated with the consolidation of Francfranc through borrowings, but the shareholders’ equity ratio was 45.7%, maintaining a sound financial structure. End-FY4/24 End-FY4/25 (¥ million) (¥ mill
Slide 7: Assets
Assets The balance of total assets increased ¥62,512 million from the end of the fiscal 2024, mainly reflecting increases in goodwill, etc. due to the consolidation of Francfranc. Francfranc End-FY4/23 End-FY4/24 End-FY4/25 Change (¥ million) , Cash andand decrease deposits in accounts receivable –
Slide 8: Liabilities and Net Assets
Liabilities and Net Assets Accounts payable – trade increased ¥15,389 million due to the consolidation of Francfranc. In addition, short- term and long-term borrowings increased ¥31,926 million due to funds procured from financial institutions for the acquisition of shares of the company. (¥ million
Slide 9: Consolidated C/F
Consolidated C/F Although net cash provided by investing activities became ¥65,920 million due to the consolidation of Francfranc, cash and cash equivalents at end of the period is ¥26,655 million. The company maintained ample cash. (¥ million) FY4/24 FY4/25 Change Net cash provided by operating act
Slide 10: Business Value Analysis
Business Value Analysis FY4/23 FY4/24 FY4/25 Change Shareholders’ equity ratio (%) 54.6 54.3 45.7 (8.6) Market value equity ratio (%) 85.5 83.8 62.1 (21.7) PER (times) 21.46 18.39 20.90 +2.51 EPS (¥) 262.87 324.64 264.32 (60.32) PBR (times) 1.58 1.56 1.37 (0.19) BPS (¥) 3,599.47 3,866.55 4,063.53 +1
Slide 11: FY4/26 Plan (Consolidated)
FY4/26 Plan (Consolidated) The group forecasts net sales for the fiscal year ending April 30, 2026 increase 14.3% YoY due to new store openings of dispensing pharmacy business and retail business, as well as supported by the consolidation of Francfranc. Ordinary profit will increase 22.2% YoY due to
Slide 12: Review
Review © AIN HOLDINGS INC. All Rights Reserved. 11
Slide 13: Consolidated (YoY results)
Consolidated (YoY results) Ordinary profit decreased ¥3.3 billion YoY due to the effect of dispensing fee revisions in dispensing pharmacy business and increase in labor costs and administrative cost, etc. Net sales Ordinary profit ¥399.8 billion ¥456.8 billion+¥57.0 billion ¥21.3 billion ¥18.0 bill
Slide 14: Consolidated (vs Plan)
Consolidated (vs Plan) Ordinary profit decreased ¥2.0 billion against the plan due to increase in labor costs, undershooting of prescription volume in dispensing pharmacy business, and increase in administrative expense, etc. Net sales Ordinary profit ¥453.5 billion ¥456.8 billion +¥3.3billion ¥20.0
Slide 15: FY4/25 Plan variance analysis
FY4/25 Plan variance analysis Despite measures of cost reduction and appropriate calculation of technical fees, ordinary profit was ¥18.0 billion, a decrease of ¥2.0 billion from the plan, mainly due to excessive labor costs and failure to achieve the number of prescriptions in the dispensing pharma
Slide 16: FY4/26 Assumptions of the plan
FY4/26 Assumptions of the plan Ordinary profit for the fiscal year ending April 30, 2026 is planned to be ¥22.1 billion due to increase in prescription volume and high-cost prescriptions in dispensing pharmacy business, and due to full-year contribution of Francfranc in retail business. Factors for
Slide 17: Number of Pharmacies and Stores
Number of Pharmacies and Stores ■ Plan and Results FY4/25 FY4/26 Plan Results Plan Dispensing pharmacy 80 98 95 Organic 40 30 35 M&A 40 68 60 Opening Retail 182 183 26 AINZ & TULPE 16 16 20 Francfranc 6 7 6 M&A of Francfranc 160 160 - Total 262 281 121 Dispensing Pharmacy 47 39 30 Closure Retail 3 4
Slide 18: Strategy
Strategy © AIN HOLDINGS INC. All Rights Reserved. 17
Slide 19: Strategy
Strategy Expansion of top-line ■ Dispensing pharmacy business strategy ■ Organic store openings ■ Utilization of M&A, Sakura Pharmacy Group ■ Business efficiency improvement ■ Retail business strategy ■ Organic store openings ■ AINZ&TULPE + Francfranc Reinforce the management base ■ Human capital ■
Slide 20: Expansion of top-line
Expansion of top-line FY4/25 results FY4/26 plan 1,550 stores 2,464 stores 116 Dispensing pharmacies 1,290 Dispensing pharmacies 2,188 23 Retail stores 260 Sakura pharmacies 833 Retail stores 276 Including Francfranc Hong Kong 8 stores 161 12 370 262 110 156 138 31 11 38 87 27 :Dispensing Pharmacies
Slide 21: Organic store openings FY4/25 results pharmacies
Organic store openings FY4/25 results 30 pharmacies Kutchan (Opened in Nov. 2024) Hokkaido University （Opened in June 2024） Kyushu University (Opened in June 2024） Kitasato University Medical Center （Opened in Oct. 2024） © AIN HOLDINGS INC. All Rights Reserved. 20
Slide 22: Organic store openings FY4/26 plan pharmacies
Organic store openings FY4/26 plan 35 pharmacies Naebo Station (Opened in May 2025) Urawa-misono Station Homes Saitama Chuo （Opened in May 2025） （Opened in May 2025） © AIN HOLDINGS INC. All Rights Reserved. 21
Slide 23: Store expansion through consolidation of Sakura Pharmacy Group
Store expansion through the consolidation of Sakura Pharmacy Group The Group will have more than 2,000 dispensing pharmacies and the group aims to further expand the top line. We especially expand dispensing pharmacies in Kanto and Kansai area through the consolidation of Sakura Pharmacy Group. We a
Slide 24: The Group's position
The Group’s position With the acquisition of the Sakura Pharmacy Group, our total sales of dispensing pharmacy business will exceed ¥500 billion, establishing us as the overwhelming leader in dispensing pharmacy industry in Japan. AIN Group＋Sakura Pharmacy Group The Group 538.4 AIN The Group Group 3
Slide 25: Structural reform of the pharmacies
Structural reform of the pharmacies Promoting digital transformation and drastically reforming pharmacy management will lead to a higher productivity of pharmacists and medical support staff and expanded patient services. We will monitor the number of prescriptions processed as a KPI to achieve high
Slide 26: Effective store operations utilizing AI medical certificate
Effective store operations utilizing AI medical certificate By using medical certificate issued by AI, field managers can significantly reduce the time required to identify issues for each store. By implementing operational reforms for each extracted issue, more precise and efficient store managemen
Slide 27: Problem solving due to AI medication history
Problem solving due to AI medication history Generated AI medication history entry support services will reduce workload and improve the quality of guidance for drug usage. We plan to begin introducing the system in July and introduce to 300 to 600 stores in the fiscal 2026. Reduce workload AI autom
Slide 28: FY4/26 Plan (Dispensing Pharmacy Business)
FY4/26 Plan (Dispensing Pharmacy Business) The group forecasts net sales increase 11.1% YoY and segment profit increase 10.4% YoY due to increase in prescription volume and high-cost prescriptions. FY4/24 FY4/25 FY4/26 YoY YoY （¥ million） results results plan change change(%) Net sales 357,571 384,7
Slide 29: Organic store openings FY4/25 results stores
Organic store openings FY4/25 results 23 AINZ&TULPE 16 stores SENDAI PARCO Main Building (Opened in Apr. 2025) Francfranc 7 Colette Mare Sakuragi-cho (Opened in Nov. 2024) YORK PARK KORIYAMA (Opened in Mar. 2025) HIROSHIMA minamoa (Opened in Mar. 2025) LUMINE MACHIDA AINZ＆TULPE Francfranc (Opened in
Slide 30: Organic store openings FY4/26 plan stores
Organic store openings FY4/26 plan 26 AINZ&TULPE 20 stores Francfranc 6 AEON MALL SUZAKA (Plan to open in Sep. 2025) Beans Hodogaya (Plan to open in July 2025) HIRAKATA T-SITE (Plan to open in June 13, 2025) PRIMETREE AKAIKE (Plan to open in July 2025) AINZ＆TULPE Francfranc © AIN HOLDINGS INC. All R
Slide 31: AINZ&TULPE + Francfranc
AINZ&TULPE + Francfranc By April 2025, we introduced Francfranc products in AINZ&TULPE through shop-in-shop in 5 stores, corner expansion in 3 stores. At AINZ&TULPE YORK PARK KORIYAMA, opened on March 2025, we introduced the shop- in-shop. As a result, gross profit margin has improved 2.1% compared
Slide 32: FY4/26 Plan (Retail Business)
FY4/26 Plan (Retail Business) The group forecasts net sales increase 36.1% YoY and segment profit increase 56.1% YoY due to the sales of AINZ&TULPE remained firm, in addition to the Francfranc contribution to the full year. FY4/24 FY4/25 FY4/26 YoY YoY （¥ million） results results plan change change(
Slide 33: Human capital
Human capital We aim to hire about 600 new pharmacists and 500 new medical support staff in fiscal 2026. As of April 30, 2025, the group has 6,786 pharmacists out of 18,300 employees. We will continue to train up and develop abilities of each and every employee to a high standard. （people） Pharmacis
Slide 34: Digital transformation investments medium-term measures
Digital transformation investments medium-term measures In each business and whole the company, digital transformation measures to expand the scale of business, and the upgrading of operations using IT, etc., are set as mid-term measures by fiscal 2027. The company provides added value that only AIN
Slide 35: Sustainability management Materiality
Sustainability management Materiality We have conducted our corporate activities with common sense and ethics in order to realize our group statement of “the health and happiness of our customers" through our businesses contributing to people's health and beauty. Going forward, we will achieve susta
Slide 36: Sustainability management Results
Sustainability management Results Within our Sustainability Committee, approximately 30 project teams are promoting cross-sectoral initiatives for each materiality. In addition, the whole company works on realizing a sustainable society. Disclosure of human capital management strategy map and KPI Ut
Slide 37: Capital and financial strategy
Capital and financial strategy In FY4/25, the company had a net cash inflow of ¥63.6 billion, including ¥23.1 billion in cash flows from operating activities and ¥37.6 billion in borrowings, and a net outflow of ¥85.3 billion, including ¥65.6 billion invested in store openings and M&A, etc. In FY4/2
Slide 38: FY4/26 Plan (Consolidated)
FY4/26 Plan (Consolidated) The group forecasts net sales for the fiscal year ending April 30, 2026 increase 14.3% YoY due to new store openings of dispensing pharmacy business and retail business, as well as supported by the consolidation of Francfranc. Ordinary profit will increase 22.2% YoY due to
Slide 39: AIN HOLDINGS INC. Corporate Planning Division
Inquiries related to this presentation should be addressed to AIN HOLDINGS INC. Corporate Planning Division TEL: +81-3-5333-1812 https://www.ainj.co.jp/corporate/ This document may not be reproduced or distributed to any third party without prior approval of AIN HOLDINGS INC. This document has been
Slide 40: AIN GROUP
AIN GROUP