Mitsui DM Sugar Co., Ltd.

2109 DM三井製糖ホールディングス株式会社

Confectioners · Prime · TSE: Disclosed

PRICE: ¥3,230 · MKT CAP: ¥104.7B · P/E: 25.5x · P/B: 0.90x · DIV YIELD: 4.0%

PRICE — 5Y

Characteristics & Business Summary

Mitsui DM Sugar Co.,Ltd. manufactures and sells refined sugar and functional food materials in Japan. It operates through the Sugar Business, Life Energy Business, and Real Estate Business segments. The Sugar Business manufactures and sells raw sugar...

Income Statement Highlights (¥ Million, except EPS/DPS in ¥)

Fiscal Period	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Net Sales	108,887	147,880	163,310	170,774	178,785	180,102	181,000
Operating Profit	3,631	3,630	1,100	4,251	13,840	12,909	13,000
Ordinary Profit	3,788	3,479	19,058	9,778	14,483	12,640	—
Net Profit	2,764	3,657	7,911	8,445	6,295	3,961	7,700
EPS	¥108	¥113	¥244	¥260	¥194	¥122	¥247
DPS	¥50	¥60	¥120	¥130	¥130	¥65	¥140

Balance Sheet & Valuation Highlights

Total Assets ¥182B

Net Assets (Equity) ¥115B

Equity Ratio 61.6%

ROE (Return on Equity) 3.8%

Cash & Equivalents ¥29B

Interest-Bearing Debt ¥27B

Capital Expenditure (CapEx) ¥6B

Depreciation & Amort. ¥6B

Major Shareholders

1. 三井物産株式会社 (常任代理人株式会社日本カストディ銀行) 26.6%
2. 三菱商事株式会社 20.0%
3. The Master Trust Bank of Japan, Ltd. (Trust Account) 7.4%
4. Custody Bank of Japan, Ltd. (Trust Account) 2.5%
5. 豊田通商株式会社 2.1%
6. 双日食料株式会社 2.0%
7. Sumitomo Mitsui Banking Corporation 1.2%
8. 和田製糖株式会社 1.0%
9. Sumitomo Mitsui Trust Bank, Limited 0.8%
10. 日本甜菜製糖株式会社 0.8%

Activist Activity

No large shareholder activist campaigns detected.

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues per share	¥4,237	¥4,561	¥5,037	¥5,267	¥5,514	¥5,555	—
FCF/Share	¥212	¥-121	¥-355	¥166	¥577	¥207	—
EPS	¥108	¥113	¥244	¥260	¥194	¥122	¥247
DPS	¥50	¥60	¥120	¥130	¥130	¥65	¥140
Capital Spending per share	¥221	¥317	¥547	¥227	¥120	¥173	—
Book Value per share	¥3,291	¥3,072	¥3,209	¥3,320	¥3,375	¥3,254	—
Common Shares Outstanding	26M	32M	32M	32M	32M	—	—

Financial Aggregates & Margins

Financial Aggregate	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues (Net Sales)	¥109B	¥148B	¥163B	¥171B	¥179B	¥180B	¥181B
Operating Margin (%)	3.3%	2.5%	0.7%	2.5%	7.7%	7.2%	7.2%
Net Profit (owners)	¥3B	¥4B	¥8B	¥8B	¥6B	¥4B	¥8B
Net Profit Margin (%)	2.5%	2.5%	4.8%	4.9%	3.5%	2.2%	4.3%
Working Capital	¥6B	¥9B	¥5B	¥10B	¥16B	¥19B	—
Total Debt (Interest-bearing)	¥19B	¥29B	¥47B	¥44B	¥37B	¥27B	—
Net Worth (Common Equity)	¥85B	¥100B	¥104B	¥108B	¥109B	¥106B	—
Return on Total Assets (ROA)	1.9%	1.9%	4.0%	4.4%	3.1%	2.2%	—
Return on Common Equity (ROE)	3.3%	3.7%	7.6%	7.8%	5.8%	3.8%	—

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.