Maruo Calcium Co., Ltd.

丸尾カルシウム株式会社

Chemicals

Maruo Calcium Co., Ltd. manufactures and sells various calcium carbonate and other industrial raw materials in Japan. Its products include various type of colloidal calcium carbonates; light calcium carbonates; ground calcium carbonates; food-additive calcium carbonates; animal feeds; hydrated and quick lime; wet silica products; and minerals, including talc, clay, and silica powder. The company also imports and distributes wet silica products. Its products are used in sealants/adhesives/plastisols, films, plastics, paints, inks, rubber, food additives, and other applications. The company was formerly known as Maruo Seifun Goshi Company and changed its name to Maruo Calcium Co., Ltd. in August 1963. Maruo Calcium Co., Ltd. was founded in 1926 and is headquartered in Akashi, Japan.

← Companies

Price

¥1,435

Market Cap

¥3.1B

Ent. Value

¥3.0B

Net Cash

¥88M

Shares Out.

2.2M

P / E

21.3×

EV / EBIT

0.2×

⚠ TSE Capital Mandate

P / Book

0.32×

P / NCAV

1.64×

Div. Yield

2.09%

Financials

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥13.0B	¥12.8B	¥12.9B	¥12.6B	¥11.6B
Cost of Sales	—	¥10.7B	¥10.6B	¥10.3B	¥9.4B
Gross Profit	—	¥2.2B	¥2.3B	¥2.3B	¥2.1B
SG&A	—	¥2.2B	¥2.1B	¥2.3B	¥2.0B
Operating Income	¥13.0B	¥6M	¥137M	¥34M	¥138M
Non-Operating Income	—	¥218M	¥231M	¥224M	¥165M
Dividend Income	—	¥91M	¥83M	¥73M	¥63M
Interest Income	—	¥19M	¥17M	¥23M	¥6M
Non-Operating Expenses	—	¥26M	¥10M	¥11M	¥11M
Interest Expense	—	¥15M	¥6M	¥6M	¥6M
Ordinary Income	¥13.0B	¥198M	¥358M	¥246M	¥292M
Pre-tax Income	—	¥262M	¥325M	¥166M	¥279M
Income Taxes	—	¥92M	¥108M	¥55M	¥79M
Current Tax	—	¥41M	¥120M	¥58M	¥85M
Deferred Tax	—	¥18M	¥-12M	¥-2M	¥-6M
Net Income (owners)	¥1M	¥149M	¥249M	¥117M	¥191M
Minority Interest	—	¥21M	¥-32M	¥-7M	¥9M
Comprehensive Income	—	¥344M	¥399M	¥450M	¥-440M
EBITDA	—	¥526M	¥634M	¥517M	¥728M
EPS	—	¥67.52	¥111.40	¥52.33	¥85.74
Shares Outstanding	—	2.2M	2.2M	2.2M	2.2M
Shares Issued (total)	—	2.4M	2.4M	2.4M	2.4M
Treasury Shares	—	0.2M	0.1M	0.1M	0.1M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	—	¥16.9B	¥17.0B	¥17.0B	¥15.6B
Current Assets	—	¥8.6B	¥9.5B	¥9.7B	¥8.8B
Cash & Deposits	—	¥2.4B	¥3.1B	¥3.6B	¥3.3B
Trade Receivables	—	¥3.6B	¥4.0B	¥3.8B	¥3.5B
Non-Current Assets	—	¥8.3B	¥7.5B	¥7.3B	¥6.8B
PP&E	—	¥3.4B	¥3.2B	¥3.2B	¥3.1B
Intangible Assets	—	¥51M	¥59M	¥41M	¥46M
Investment Securities	—	¥4.6B	¥3.9B	¥3.7B	¥3.3B
Deferred Tax Assets	—	¥19M	¥16M	¥11M	¥16M
Total Liabilities	—	¥6.7B	¥7.0B	¥7.3B	¥6.3B
Current Liabilities	—	¥3.2B	¥4.8B	¥3.7B	¥3.2B
Accounts Payable	—	—	—	—	¥2.0B
ST Debt	—	¥535M	¥909M	¥669M	¥300M
Taxes Payable	—	¥14M	¥98M	¥23M	¥56M
Non-Current Liabilities	—	¥3.4B	¥2.2B	¥3.6B	¥3.1B
Total LT Borrowings	—	¥1.8B	¥623M	¥2.0B	¥1.7B
Pension Obligations	—	¥812M	¥857M	¥859M	¥789M
Deferred Tax Liab.	—	¥763M	¥664M	¥636M	¥529M
Total Equity	—	¥10.2B	¥10.0B	¥9.7B	¥9.3B
Capital Stock	—	¥877M	¥877M	¥877M	¥877M
Capital Surplus	—	¥445M	¥443M	¥444M	¥446M
Retained Earnings	—	¥6.1B	¥6.0B	¥5.8B	¥5.8B
Treasury Stock	—	¥-248M	¥-190M	¥-148M	¥-173M
AOCI	—	¥2.6B	¥2.4B	¥2.3B	¥1.9B
Equity (owners)	—	¥7.2B	¥7.1B	¥7.0B	¥6.9B
Minority Interests	—	¥408M	¥373M	¥397M	¥394M

Total Interest-Bearing Debt ⓘ	—	¥2.3B	¥1.5B	¥2.7B	¥2.0B
Net Cash ⓘ	—	¥88M	¥1.6B	¥991M	¥1.3B
NCAV ⓘ	—	¥1.9B	¥2.5B	¥2.4B	¥2.5B
NCAV/Share	—	¥877	¥1,121	¥1,073	¥1,120
BV/Share	—	¥3,300	¥3,223	¥3,116	¥3,109

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	—	¥247M	¥509M	¥465M	¥529M
Interest Paid	—	¥-16M	¥-6M	¥-7M	¥-6M
Interest Received	—	¥110M	¥107M	¥80M	¥69M
D&A	—	¥520M	¥497M	¥483M	¥589M
Investing CF	—	¥-1.2B	¥-346M	¥-745M	¥-442M
CapEx	—	¥865M	¥302M	¥690M	¥326M
Purchase Investments	—	¥-513M	¥-3M	¥-3M	¥-52M
Proceeds from Invest.	—	¥37M	¥12M	¥0M	—
Financing CF	—	¥116M	¥-762M	¥606M	¥-479M
Dividends Paid	—	¥-66M	¥-67M	¥-67M	¥-68M
Share Buybacks	—	¥-80M	¥-65M	—	¥-12M
LT Debt Repaid	—	¥-1.2B	¥-524M	¥-322M	¥-250M
Free Cash Flow	—	¥-618M	¥207M	¥-226M	¥203M
Net Change in Cash	—	¥-786M	¥-567M	¥340M	¥-351M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	—	1.5%	2.6%	1.3%	2.1%
ROA	—	0.9%	1.5%	0.7%	1.2%
EPS	—	¥67.52	¥111.40	¥52.33	¥85.74
DPS	—	¥30.00	¥30.00	¥30.00	¥30.00
BPS	—	¥4,495.33	¥4,322.65	¥4,123.58	¥3,977.33
FCF/Share	—	¥-285	¥94	¥-101	¥91
NCAV/Share	—	¥877	¥1,121	¥1,073	¥1,120
Payout Ratio	—	44.4%	26.9%	57.3%	35.0%

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-14 14:00	TOB	¥95M ¥949.0/sh	Maruo Calcium (code 4102) announced on May 14, 2026 that it tendered all 100,000 shares of Maruun Co., Ltd. (code 9067) …
Summary Maruo Calcium (code 4102) announced on May 14, 2026 that it tendered all 100,000 shares of Maruun Co., Ltd. (code 9067) in a tender offer by Senko Group Holdings at ¥949 per share. The company recorded a special gain of ¥75 million from the sale in Q4 FY2026, recognizing the transaction enhanced corporate value. Deadline: 2026-03-05 Shares: 100,000 Source (JP) 当社は、2026年1月28日開催の取締役会において、当社が保有する株式会社丸運の普通株式の全部について、センコーグループホールディングス株式会社が実施する公開買付けに応募することを決議し、当該応募に伴い2026年3月期第4四半期会計期間に投資有価証券売却益として特別利益を計上いたしました公開買付への応募および特別利益（投資有価証券売却益）の計上に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	中国砿業株式会社	249	11.49%
2	丸尾治男	160	7.39%
3	山陽化学産業株式会社	114	5.26%
4	丸尾政雄	92	4.25%
5	丸尾直子	54	2.52%
6	中西電機工業株式会社	54	2.52%
7	Sompo Japan Insurance Inc. 損害保険ジャパン株式会社	53	2.48%
8	Sumitomo Mitsui Banking Corporation 株式会社三井住友銀行	46	2.15%
9	Employee Stock Ownership Plan 丸尾カルシウム従業員持株会	46	2.14%
10	今井一史	44	2.06%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

0.0%

+0.0% vs 2024

Trust bank custodians — GPIF, pensions, investment trusts

Foreign Custodians

0.0%

+0.0% vs 2024

Sub-custodians for foreign asset managers

Direct / Strategic

42.3%

-0.7% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
中国砿業		11.10%	11.26%	11.49% +0.23%
丸尾治男		6.50%	6.92%	7.39% +0.47%
山陽化学産業		5.08%	5.15%	5.26% +0.11%
丸尾政雄		4.01%	4.17%	4.25% +0.08%
丸尾直子		1.89%	2.47%	2.52% +0.05%
中西電機工業 ↑		—	2.23%	2.52% +0.29%
Sompo Japan Insurance Inc. 損害保険ジャパン		2.40%	2.44%	2.48% +0.04%
Sumitomo Mitsui Banking Corporation 三井住友銀行		3.42%	3.47%	2.15% -1.32%
Employee Stock Ownership Plan 丸尾カルシウム従業員持株会		2.16%	1.96%	2.14% +0.18%
今井一史 NEW ENTRY		1.74%	—	2.06% NEW
Daido Life Insurance Co. 大同生命保険 last seen 2024	Exited Top 10	2.83%	2.86%	—
Concentration (HHI) ⓘ		244	260	265

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved

Portfolio Book Value ¥3,571M +6% since 2023

Holdings 26 3 exited

Trend 4 building vs 2023

Held Company	FY2025 ¥3,571M total		FY2023 ¥3,375M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
NIPPON PAINT HOLDINGS CO.,LTD. 日本ペイントホールディングス㈱	2,276	2,030,705	2,514	2,030,705
Sumitomo Mitsui Financial Group, Inc. ㈱三井住友フィナンシャルグループ	306	+200.0% ↑ 80,700	142	26,900
Nihon Tokushu Toryo Co., Ltd. 日本特殊塗料㈱	162	109,838	104	109,838	M
Meiji Holdings Co., Ltd. 明治ホールディングス㈱	152	+100.0% ↑ 46,800	148	23,400
Bando Chemical Industries, Ltd. バンドー化学㈱	132	+5.4% ↑ 80,025	80	75,934
Mitsubishi UFJ Financial Group, Inc. ㈱三菱ＵＦＪフィナンシャル・グループ	97	48,360	41	48,360
OKAMOTO INDUSTRIES,INC. オカモト㈱	92	18,200	72	18,200	M
KANEKA CORPORATION ㈱カネカ	90	23,744	82	23,744
NITTO DENKO CORPORATION 日東電工㈱	74	+400.0% ↑ 27,045	46	5,409
Nittetsu Mining CO.,Ltd. 日鉄鉱業㈱	60	9,072	32	9,072	M
Maru Un Co., Ltd. ㈱丸運	44	100,000	23	100,000	M
Kikusui Chemical Industry Co., Ltd. 菊水化学工業㈱	25	67,100	25	67,100
KOATSU GAS KOGYO CO., LTD. 高圧ガス工業㈱	13	14,500	10	14,500
T&D Holdings, Inc. ㈱Ｔ＆Ｄホールディングス	10	3,000	5	3,000
Oji Holdings Corporation 王子ホールディングス㈱	8	13,450	7	13,450
Shin-Etsu Polymer Co.,Ltd. 信越ポリマー㈱	8	5,380	8	5,380
Dai Nippon Toryo Company, Limited 大日本塗料㈱	5	4,307	4	4,307
SHINTO PAINT COMPANY, LIMITED 神東塗料㈱	5	38,000	5	38,000
FEED ONE CO.,LTD. フィード・ワン㈱	3	3,753	2	3,753
TOLI Corporation 東リ㈱	2	3,927	1	3,927
KAWAKAMI PAINT MANUFACTURING CO.,LTD. 川上塗料㈱	2	1,032	2	1,032
MEIWA Industry Co.,Ltd 盟和産業㈱	1	1,282	1	1,282
Taki Chemical Co., Ltd. 多木化学㈱	1	400	2	400	M
KYOWA LEATHER CLOTH CO.,LTD 共和レザー㈱	1	1,000	0	1,000
Nikko Co., Ltd. 日工㈱	1	1,000	1	1,000	M
セメダイン㈱	—		—
C.I. TAKIRON Corporation タキロンシーアイ㈱	—	−100% Exit —	9	18,410
TERAOKA SEISAKUSHO CO.,LTD. ㈱寺岡製作所	—	−100% Exit —	4	13,310	M
Sakai Trading Co. 堺商事㈱	—	−100% Exit —	3	1,000	M
Portfolio total	3,571		3,375

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding