TSUMURA & CO.

4540 株式会社ツムラ

Pharmaceutical · Prime · TSE: Disclosed

PRICE: ¥3,724 · MKT CAP: ¥284.2B · P/E: 8.7x · P/B: 0.94x · DIV YIELD: 3.7%

PRICE — 5Y

Characteristics & Business Summary

Tsumura & Co. engages in the production and sale of Kampo extract intermediates and granular Kampo formulations in Japan and internationally. The company offers products for female problems, proneness to fatigue, skin problems, gastrointestinal problems...

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

Fiscal Period	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024
Net Sales	130,883	129,546	140,043	150,845	181,093
Operating Profit	19,382	22,376	20,916	20,017	40,125
Ordinary Profit	20,866	25,904	23,453	23,493	42,446
Net Profit	15,332	18,836	16,482	16,707	32,428
EPS	¥200	¥246	¥215	¥218	¥425
DPS	¥64	¥64	¥64	¥85	¥136

Balance Sheet & Valuation Highlights

Total Assets ¥464B

Net Assets (Equity) ¥330B

Equity Ratio 64.7%

ROE (Return on Equity) 12.0%

Cash & Equivalents ¥73B

Interest-Bearing Debt ¥70B

Capital Expenditure (CapEx) ¥28B

Depreciation & Amort. ¥11B

Major Shareholders

1. The Master Trust Bank of Japan, Ltd. (Trust Account) 15.7%
2. BANK OF CHINA （HONG KONG） LIMITED－PING AN LIFE INSURANCE COMPANY OF CHINA,LIMITED 10.1%
3. Custody Bank of Japan, Ltd. (Trust Account) 6.8%
4. STATE STREET BANK AN D TRUST COMPANY 4.6%
5. BRIGHT RIDE LIMITED 2.2%
6. Employee Stock Ownership Plan 2.1%
7. Mizuho Bank, Ltd. 1.8%
8. MUFG Bank, Ltd. 1.8%
9. THE BANK OF NEW YORK MELLON 1.6%
10. Nomura Trust and Banking Co., Ltd. 1.6%

Activist Activity

Nomura Asset Management Co., Ltd. 5.33%

2025-11-20 · change

Marathon Asset Management Limited 8.69%

2025-07-22 · change

Marathon Asset Management Limited 7.38%

2025-07-07 · change

Mitsubishi UFJ Financial Group Inc. 4.64%

2025-03-17 · change

Nomura Asset Management Co., Ltd. 5.95%

2025-01-09 · change

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024
Revenues per share	¥1,711	¥1,693	¥1,830	¥1,971	¥2,373
FCF/Share	¥93	¥146	¥55	¥-147	¥82
EPS	¥200	¥246	¥215	¥218	¥425
DPS	¥64	¥64	¥64	¥85	¥136
Capital Spending per share	¥117	¥133	¥160	¥220	¥362
Book Value per share	¥2,774	¥2,956	¥3,097	¥3,232	¥3,536
Common Shares Outstanding	77M	77M	77M	77M	76M

Financial Aggregates & Margins

Financial Aggregate	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024
Revenues (Net Sales)	¥131B	¥130B	¥140B	¥151B	¥181B
Operating Margin (%)	14.8%	17.3%	14.9%	13.3%	22.2%
Net Profit (owners)	¥15B	¥19B	¥16B	¥17B	¥32B
Net Profit Margin (%)	11.7%	14.5%	11.8%	11.1%	17.9%
Working Capital	¥118B	¥137B	¥144B	¥148B	¥161B
Total Debt (Interest-bearing)	¥53B	¥50B	¥80B	¥65B	¥70B
Net Worth (Common Equity)	¥212B	¥226B	¥237B	¥247B	¥270B
Return on Total Assets (ROA)	4.8%	5.4%	4.2%	3.9%	7.0%
Return on Common Equity (ROE)	7.2%	8.3%	7.0%	6.8%	12.0%

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.