Japan Retail Sector: June 2026 sales (announced 15 July): Announcements by Sugi Holdings, MatsukiyoCocokara, and SEI

Research evidence excerpt

Japan Retail Sector: June 2026 sales (announced 15 July): Announcements by Sugi Holdings, MatsukiyoCocokara, and SEI

Global Research

15 July 2026ab

Japan Retail Sector Equities

JapanJune 2026 sales (announced 15 July):

Announcements by Sugi Holdings, Retail

MatsukiyoCocokara, and SEI Takahiro KazahayaAnalyst

takahiro.kazahaya@ubs.com

+81-3-5208 6226

Sugi Holdings (7649): June sales below the company plan Kazuki Oike

Analyst

Monthly sales trends (month-end, FY2/27): Same-store sales were down 1.5% yoy in the kazuki.oike@ubs.com

drugstore (merchandise) business (number of customers -4.1%, sales per customer +81-3-5208 6964

+2.8%), up 11.4% yoy in the dispensing business, and up 2.0% yoy on a group-wide

Hirotaro Hasegawa

basis. Group all-store sales were up 4.5% yoy. The impact from having one fewer

Associate Analyst

weekend and holiday days in June 2026 than there were in June 2025 lowered hirotaro.hasegawa@ubs.com

merchandise sales by about 0.5-1.0% but boosted dispensing sales by 3-4%. +81-3-5208 6684

Cumulative YTD same-store sales were +3.0% yoy (simple average) for the drugstore

business and +4.9% (simple average) for the group total. FY2/27 company guidance is

for growth in same-store sales of +5.3% on a group-wide basis (H1: +5.6%, H2:

+5.0%). June same-store merchandise sales by category show healthcare down 2.3%,

beauty up 0.3%, home products down 2.5%, and foods down 1.0%. Sales of seasonal

merchandise faced challenges due to adverse weather conditions. Meanwhile, the

strength in the dispensing business drove overall results. In addition, stockpiling demand

related to the Middle East situation has subsided, and although there were weather-

related factors, sales of paper products and other items were below the same month a

year earlier.