4912
Lion Corporation
ライオン株式会社
Chemicals
Lion Corporation manufactures and sells consumer and industrial products in Japan and internationally. It operates through Consumer Goods, Industrial Products, and Overseas segments. The company provides oral healthcare products, including toothpastes, toothbrushes and cleaning tools, dental rinses and mouthwashes, periodontitis ointments, and denture products; beauty care products, such as shampoos and conditioners, hand soaps, sanitizers, wet wipes, hygiene care, body washes, acne care, antiperspirants and deodorants, men's care, and foot and heel care products, as well as oral health habit support program. It offers antipyretic analgesics, eye drops and eye care products, cold medicines, gargles, cold relief products, antidiarrheal, gastrointestinal, acne, and anti-drowsiness medicines, and dermatologic agents. In addition, the company offers fabric care and detergents products; household cleaners; and kitchen cleanup products. Further, it also provides pet healthcare and living care; novelty and special order products. Lion Corporation was founded in 1891 and is headquartered in Taito, Japan.
Price
¥1,620
Market Cap
¥449.1B
Ent. Value
—
Net Cash
est
—
Shares Out.
277.3M
P / E
16.2×
EV / EBIT
—
P / Book
—
P / NCAV
6.09×
Div. Yield
1.85%
Financials
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥422.1B | ¥412.9B | ¥402.8B | ¥389.9B | ¥366.2B |
| Cost of Sales | ¥228.2B | ¥224.2B | ¥222.2B | ¥215.3B | ¥187.1B |
| Gross Profit | ¥193.9B | ¥188.8B | ¥180.6B | ¥174.6B | ¥179.1B |
| SG&A | ¥163.2B | ¥162.4B | ¥160.5B | ¥151.0B | ¥148.2B |
| Operating Income | ¥36.4B | ¥28.4B | ¥20.5B | ¥28.8B | ¥31.2B |
| Non-Operating Income | ¥1.4B | ¥1.7B | ¥1.1B | ¥804M | ¥817M |
| Non-Operating Expenses | ¥1.2B | ¥807M | ¥843M | ¥179M | ¥136M |
| Pre-tax Income | ¥39.4B | ¥32.2B | ¥22.4B | ¥31.3B | ¥34.1B |
| Net Income (owners) | ¥27.6B | ¥21.2B | ¥14.6B | ¥21.9B | ¥23.8B |
| Minority Interest | ¥3.5B | ¥2.9B | ¥2.1B | ¥1.2B | ¥1.7B |
| Comprehensive Income | ¥42.1B | ¥35.7B | ¥26.6B | ¥32.0B | ¥28.5B |
| EBITDA | ¥57.5B | ¥49.5B | ¥40.7B | ¥46.5B | ¥45.4B |
| EPS | ¥99.74 | ¥76.51 | ¥51.42 | ¥77.04 | ¥81.73 |
| Shares Outstanding | 277.3M | 277.0M | 285.1M | 284.9M | 291.5M |
| Shares Issued (total) | 279.8M | 284.4M | 292.5M | 292.5M | 299.1M |
| Treasury Shares | 2.5M | 7.5M | 7.5M | 7.6M | 7.6M |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥528.6B | ¥497.2B | ¥486.4B | ¥469.3B | ¥428.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥254.0B | ¥251.4B | ¥232.3B | ¥237.7B | ¥232.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥88.1B | ¥102.2B | ¥85.5B | ¥101.1B | ¥97.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥274.6B | ¥245.7B | ¥254.1B | ¥231.6B | ¥195.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥125.2B | ¥128.1B | ¥140.7B | ¥130.1B | ¥120.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥19.6B | ¥327M | ¥327M | ¥327M | ¥182M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥31.5B | ¥21.1B | ¥22.7B | ¥23.9B | ¥24.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥4.6B | ¥4.6B | ¥4.4B | ¥3.9B | ¥6.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥180.2B | ¥181.5B | ¥188.2B | ¥190.1B | ¥163.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥136.2B | ¥142.4B | ¥143.3B | ¥141.6B | ¥139.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | — | — | ¥148M | ¥1.4B | ¥1.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥44.0B | ¥39.1B | ¥44.9B | ¥48.5B | ¥23.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | — | — | — | ¥141M | ¥392M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥6.6B | ¥3.3B | ¥5.8B | ¥2.7B | ¥1.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥348.4B | ¥315.7B | ¥298.1B | ¥279.2B | ¥265.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥31.4B | ¥31.3B | ¥31.1B | ¥31.1B | ¥35.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥232.2B | ¥212.9B | ¥204.3B | ¥192.8B | ¥177.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-3.3B | ¥-8.7B | ¥-7.9B | ¥-8.1B | ¥-4.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥28.0B | ¥23.7B | ¥18.4B | ¥14.0B | ¥9.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥322.7B | ¥293.7B | ¥280.3B | ¥264.3B | ¥251.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥25.7B | ¥22.0B | ¥17.8B | ¥14.9B | ¥13.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | — | — | ¥148M | ¥1.6B | ¥1.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥88.1B | ¥102.2B | ¥85.4B | ¥99.5B | ¥95.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥73.8B | ¥70.0B | ¥44.0B | ¥47.6B | ¥69.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥266 | ¥253 | ¥155 | ¥167 | ¥237 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥1,164 | ¥1,060 | ¥983 | ¥927 | ¥863 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥40.6B | ¥43.7B | ¥30.1B | ¥42.0B | ¥19.3B |
| D&A | ¥21.1B | ¥21.2B | ¥20.2B | ¥17.7B | ¥14.3B |
| Investing CF | ¥-43.5B | ¥-7.7B | ¥-34.8B | ¥-19.5B | ¥-34.2B |
| CapEx | ¥18.1B | ¥18.1B | ¥23.3B | ¥18.5B | ¥37.3B |
| Financing CF | ¥-12.4B | ¥-21.2B | ¥-11.8B | ¥-19.8B | ¥-10.2B |
| Free Cash Flow | ¥22.6B | ¥25.6B | ¥6.8B | ¥23.5B | ¥-18.0B |
| Net Change in Cash | ¥-14.1B | ¥16.7B | ¥-15.6B | ¥3.8B | ¥-24.3B |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 8.3% | 6.9% | 5.1% | 8.1% | 9.0% |
| ROA | 5.4% | 4.3% | 3.1% | 4.9% | 5.6% |
| EPS | ¥99.74 | ¥76.51 | ¥51.42 | ¥77.04 | ¥81.73 |
| DPS | ¥30.00 | ¥27.00 | ¥26.00 | ¥25.00 | ¥24.00 |
| FCF/Share | ¥81 | ¥92 | ¥24 | ¥82 | ¥-62 |
| NCAV/Share | ¥266 | ¥253 | ¥155 | ¥167 | ¥237 |
| Payout Ratio | 30.1% | 35.3% | 50.6% | 32.5% | 29.4% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 9
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社(信託口)
|
38,563 | 13.90% |
| 2 |
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
|
28,252 | 10.18% |
| 3 | JAPAN ACTIVATION CAPITAL I L.P.(常任代理人 株式会社三菱UFJ銀行) | 12,450 | 4.48% |
| 4 |
Custody Bank of Japan, Ltd. (Trust Account)
みずほ信託銀行株式会社 退職給付信託 みずほ銀行口 再信託受託者 株式会社日本カストディ銀行
|
8,282 | 2.98% |
| 5 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部)
|
6,796 | 2.45% |
| 6 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505103(常任代理人 株式会社みずほ銀行決済営業部)
|
5,181 | 1.86% |
| 7 | 明治安田生命保険相互会社(常任代理人 株式会社日本カストディ銀行) | 3,690 | 1.33% |
| 8 |
JPMorgan Chase Bank, N.A.
JP MORGAN CHASE BANK 385781(常任代理人 株式会社みずほ銀行決済営業部)
|
3,565 | 1.28% |
| 9 |
BNY Mellon (Nominee)
ゴールドマン・サックス証券株式会社 BNYM(常任代理人 株式会社三菱UFJ銀行)
|
3,430 | 1.23% |
| 10 |
Dai Nippon Printing Co.,Ltd.
大日本印刷株式会社
|
3,140 | 1.13% |
as of 2025-12-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
27.1%
+0.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
6.8%
+6.8% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
6.9%
-6.5% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 40.8% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 13.78% | 13.99% | 13.90% -0.09% | |
| Japan Custody Bank 日本カストディ銀行 | 11.41% | 12.49% | 13.16% +0.67% | |
| JAPAN ACTIVATION CAPITAL I L.P. NEW ENTRY | — | — | — | 4.48% NEW |
| State Street NEW ENTRY | — | — | — | 4.31% NEW |
| Meiji Yasuda Life Insurance 明治安田生命保険 | 1.29% | 1.33% | 1.33% | |
| JP Morgan NEW ENTRY | — | — | — | 1.28% NEW |
| BNY Mellon NEW ENTRY | — | — | — | 1.23% NEW |
| Dai Nippon Printing Co.,Ltd. 大日本印刷 | — | 1.13% | 1.13% | |
| JAPAN ACTIVATION CAPITAL I L.P. ＪＡＰＡＮ ＡＣＴＩＶＡＴＩＯＮ ＣＡＰＩＴＡＬ Ｉ Ｌ．Ｐ． last seen 2024 | Exited Top 10 | — | 4.49% | — |
| STATE STREET BANK AND TRUST COMPANY ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５００１ last seen 2024 | Exited Top 10 | — | 2.44% | — |
| STATE STREET BANK AND TRUST COMPANY ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５１０３ last seen 2024 | Exited Top 10 | 1.12% | 1.67% | — |
| JP MORGAN CHASE BANK ＪＰ ＭＯＲＧＡＮ ＣＨＡＳＥ ＢＡＮＫ ３８５７８１ last seen 2024 | Exited Top 10 | — | 1.21% | — |
| STATE STREET BANK WEST CLIENT － TREATY ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＷＥＳＴ ＣＬＩＥＮＴ － ＴＲＥＡＴＹ ５０５２３４ last seen 2024 | Exited Top 10 | — | 1.14% | — |
| 豊田通商 last seen 2023 | Exited Top 10 | 1.22% | — | — |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５２２３ last seen 2023 | Exited Top 10 | 2.06% | — | — |
| 式会社三菱ＵＦＪ銀行 last seen 2023 | Exited Top 10 | 2.48% | — | — |
| 三菱ＵＦＪ信託銀行 last seen 2023 | Exited Top 10 | 1.22% | — | — |
| 東京海上日動火災保険 last seen 2023 | Exited Top 10 | 1.56% | — | — |
| Concentration (HHI) ⓘ | 339 | 386 | 411 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥16,774M
+8% since 2023
Holdings
17
+4 new
9 exited
Trend
2 building
vs 2023
| Held Company | FY2025 ¥16,774M total | FY2023 ¥15,580M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
| Saha Pathanapibul Public Company Limited | 4,724 |
NEW
New
16,533,333
|
— | ||
| Saha Pathana Inter-Holding Public Company Limited | 2,963 |
NEW
New
15,000,000
|
— | M | |
|
ARATA CORPORATION
㈱あらた
|
2,963 |
+100.0%
↑
962,062
|
2,992 | 481,031 | M |
|
Maruzen Showa Unyu Co,.Ltd.
丸全昭和運輸㈱
|
1,549 |
189,000
|
738 | 189,000 | M |
|
TAKASAGO INTERNATIONAL CORPORATION
高砂香料工業㈱(注)2
|
1,481 |
NEW
New
1,005,010
|
— | M | |
|
Rengo Co., Ltd.
レンゴー㈱
|
1,109 |
913,000
|
858 | 913,000 | M |
|
Dai Nippon Printing Co.,Ltd.
大日本印刷㈱
|
832 |
+100.0%
↑
309,000
|
644 | 154,500 | M |
|
Inabata & Co., Ltd.
稲畑産業㈱
|
768 |
205,200
|
644 | 205,200 | M |
|
SUNDRUG CO.,LTD.
㈱サンドラッグ
|
297 |
69,120
|
313 | 69,120 | |
|
Harima-Kyowa Co.,LTD.
ハリマ共和物産㈱
|
50 |
26,400
|
60 | 26,400 | |
|
TSURUHA HOLDINGS INC.
㈱ツルハホールディングス
|
20 |
NEW
New
7,130
|
— | ||
|
螟ｧ譛ｨ繝倥Ν繧ｹ繧ｱ繧｢繝帙�ｼ繝ｫ繝�繧｣繝ｳ繧ｰ繧ｹ譬ｪ蠑丈ｼ夂､ｾ
大木ヘルスケアホールディングス㈱
|
14 |
10,500
|
11 | 10,500 | |
|
Hokuyaku Takeyama Holdings Co., Ltd.
㈱ほくやく・竹山ホールディングス
|
4 |
5,250
|
4 | 5,250 | M |
|
Kao Corporation
花王㈱
|
— | — | |||
|
Shiseido Company, Limited
㈱資生堂
|
— | — | |||
|
SHIKOKU KASEI HOLDINGS CORPOLATION
四国化成ホールディングス㈱
|
— | — | |||
|
Mitsui Chemicals, Inc.
三井化学㈱
|
— | — | |||
|
CB GROUP MANAGEMENT Co., Ltd
CBグループマネジメント㈱
|
— |
−100%
Exit
—
|
352 | 71,361 | M |
| NIPPON EXPRESSホールディングス㈱ | — |
−100%
Exit
—
|
468 | 58,400 | M |
|
AEON Co.,Ltd.
イオン㈱
|
— |
−100%
Exit
—
|
19 | 6,059 | |
|
WELCIA HOLDINGS CO., LTD.
ウエルシアホールディングス㈱
|
— |
−100%
Exit
—
|
14 | 5,694 | |
| サハパタナピブルパブリックカンパニーリミテッド | — |
−100%
Exit
—
|
4,233 | 16,533,333 | |
| サハパタナインターホールディングパブリックカンパニーリミテッド | — |
−100%
Exit
—
|
2,942 | 10,000,000 | M |
|
TAKASAGO INTERNATIONAL CORPORATION
高砂香料工業㈱
|
— |
−100%
Exit
—
|
701 | 201,002 | M |
|
NIPPON KANZAI Holdings Co.,Ltd.
日本管財ホールディングス㈱
|
— |
−100%
Exit
—
|
404 | 157,200 | M |
|
T.HASEGAWA CO.,LTD.
長谷川香料㈱
|
— |
−100%
Exit
—
|
183 | 59,000 | M |
| Portfolio total | 16,774 | 15,580 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding