5194
SAGAMI RUBBER INDUSTRIES CO.,LTD.
相模ゴム工業株式会社
Rubber Products
Sagami Rubber Industries Co., Ltd. manufactures and supplies condoms. The company offers polyurethane and latex condoms, external catheters, and probe covers; plastic films; and healthcare products and services. It sells its products in Japan, France, Switzerland, Italy, Portugal, Spain, Finland, Norway, Sweden, Korea, Vietnam, Mexico, and the United States. Sagami Rubber Industries Co., Ltd. was founded in 1934 and is headquartered in Atsugi, Japan.
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⚠ TSE Capital Mandate
P / Book
0.60×
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥5.9B
¥5.7B
¥6.1B
¥6.0B
¥5.4B
Cost of Sales
¥4.3B
¥4.2B
¥4.3B
¥4.1B
¥3.2B
Gross Profit
¥1.6B
¥1.5B
¥1.8B
¥1.9B
¥2.2B
SG&A
¥1.4B
¥1.5B
¥1.4B
¥1.2B
¥1.2B
Operating Income
¥181M
¥-34M
¥436M
¥661M
¥1.1B
Non-Operating Income
¥544M
¥710M
¥187M
¥484M
¥427M
Dividend Income
—
¥26M
¥22M
¥20M
¥18M
Interest Income
—
¥0M
¥0M
¥2M
¥2M
Non-Operating Expenses
—
¥153M
¥234M
¥89M
¥49M
Interest Expense
—
¥139M
¥128M
¥84M
¥42M
Ordinary Income
¥588M
¥523M
¥389M
¥1.1B
¥1.5B
Pre-tax Income
¥601M
¥622M
¥357M
¥1.1B
¥1.5B
Income Taxes
¥342M
¥245M
¥355M
¥383M
¥350M
Current Tax
—
¥264M
¥337M
¥374M
¥335M
Deferred Tax
—
¥-18M
¥18M
¥10M
¥15M
Net Income (owners)
¥283M
¥393M
¥41M
¥674M
¥1.1B
Minority Interest
—
¥-16M
¥-39M
¥-1M
¥13M
Comprehensive Income
—
¥1.1B
¥265M
¥1.1B
¥1.5B
EBITDA
¥902M
¥673M
¥1.1B
¥1.3B
¥1.6B
EPS
¥26.11
¥36.16
¥3.77
¥62.04
¥101.10
Shares Outstanding
—
10.9M
10.9M
10.9M
10.9M
Shares Issued (total)
—
10.9M
10.9M
10.9M
10.9M
Treasury Shares
—
0.1M
0.1M
0.1M
0.1M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥19.2B
¥18.6B
¥17.7B
¥18.1B
¥17.0B
Current Assets
¥6.1B
¥6.3B
¥5.8B
¥6.2B
¥5.6B
Cash & Deposits
¥1.7B
¥1.9B
¥1.2B
¥1.8B
¥1.5B
Trade Receivables
—
¥832M
¥1.1B
¥877M
¥909M
Non-Current Assets
¥13.1B
¥12.4B
¥11.9B
¥12.0B
¥11.5B
PP&E
¥11.6B
¥11.3B
¥10.9B
¥11.2B
¥10.7B
Intangible Assets
—
¥6M
¥8M
¥10M
¥13M
Investment Securities
¥1.3B
¥970M
¥805M
¥522M
¥465M
Deferred Tax Assets
—
—
¥29M
¥133M
¥159M
Total Liabilities
¥7.3B
¥7.5B
¥7.6B
¥8.2B
¥8.1B
Current Liabilities
¥6.6B
¥6.8B
¥6.7B
¥6.7B
¥6.4B
Accounts Payable
—
¥190M
¥310M
¥185M
¥262M
ST Debt
¥5.2B
¥5.5B
¥5.3B
¥5.5B
¥5.3B
Taxes Payable
—
¥102M
¥162M
¥220M
¥155M
Non-Current Liabilities
¥660M
¥680M
¥896M
¥1.5B
¥1.7B
Total LT Borrowings
—
¥140M
¥421M
¥953M
¥1.2B
Pension Obligations
—
¥97M
¥75M
¥82M
¥91M
Deferred Tax Liab.
—
¥9M
—
—
—
Total Equity
¥11.9B
¥11.1B
¥10.1B
¥9.9B
¥8.9B
Capital Stock
—
¥547M
¥547M
¥547M
¥547M
Capital Surplus
—
¥677M
¥677M
¥677M
¥677M
Retained Earnings
¥9.0B
¥8.8B
¥8.5B
¥8.6B
¥8.0B
Treasury Stock
—
¥-36M
¥-36M
¥-36M
¥-36M
AOCI
—
¥870M
¥161M
¥-94M
¥-530M
Equity (owners)
¥10.1B
¥10.0B
¥9.7B
¥9.8B
¥9.2B
Minority Interests
—
¥279M
¥259M
¥290M
¥266M
Total Interest-Bearing Debt ⓘ
¥5.2B
¥5.7B
¥5.7B
¥6.4B
¥6.5B
Net Cash ⓘ
¥-3.5B
¥-3.7B
¥-4.6B
¥-4.6B
¥-5.0B
NCAV ⓘ
¥-1.2B
¥-1.3B
¥-1.8B
¥-2.0B
¥-2.6B
NCAV/Share
—
¥-117
¥-164
¥-185
¥-235
BV/Share
—
¥918
¥892
¥898
¥846
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥587M
¥790M
¥374M
¥899M
¥905M
Interest Paid
—
¥-135M
¥-130M
¥-84M
¥-47M
Interest Received
—
¥26M
¥22M
¥22M
¥19M
D&A
¥722M
¥707M
¥658M
¥613M
¥498M
Investing CF
¥6M
¥438M
¥-133M
¥-185M
¥-676M
CapEx
¥121M
¥97M
¥131M
¥186M
¥673M
Purchase Investments
—
¥-2M
¥-1M
¥-1M
¥-1M
Financing CF
¥-808M
¥-503M
¥-907M
¥-422M
¥-190M
Dividends Paid
—
¥-109M
¥-108M
¥-108M
¥-108M
Share Buybacks
—
¥-0M
¥-0M
¥-0M
¥-0M
LT Debt Repaid
—
¥-564M
¥-798M
¥-812M
¥-1.1B
Free Cash Flow
¥467M
¥694M
¥243M
¥713M
¥232M
Net Change in Cash
—
¥740M
¥-657M
¥318M
¥57M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
2.5%
3.8%
0.4%
7.4%
13.7%
ROA
1.5%
2.2%
0.2%
3.8%
6.4%
EPS
¥26.11
¥36.16
¥3.77
¥62.04
¥101.10
DPS
¥10.00
¥10.00
¥10.00
¥10.00
¥10.00
BPS
¥1,069.06
¥998.29
¥906.81
¥889.52
¥797.34
FCF/Share
—
¥64
¥22
¥66
¥21
NCAV/Share
—
¥-117
¥-164
¥-185
¥-235
Payout Ratio
38.3%
27.7%
265.3%
16.1%
9.9%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 5
Date Activist Stake Event Flag Demands Source
2024-04-01
Mitsubishi UFJ Financial Group Inc.
3.75%
-1.5%
change
Passive
—
2023-12-22
Briarwood Capital Partners LP
7.6%
initial_5pct
Passive
—
2023-12-22
Briarwood Capital Partners LP
12.57%
+4.97%
change
Passive
—
2023-11-20
Mitsubishi UFJ Financial Group Inc.
5.25%
change
Passive
—
2023-09-01
Oasis Management Company Ltd.
9.77%
initial_5pct
✓ Activist
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 10
#
Shareholder
Shares (thou.)
% of Total
1
MSCO CUSTOMER SECURITIES
MSCO CUSTOMER SECURITIES(常任代理人 モルガン・スタンレーMUFG証券㈱)
1,374
12.66%
2
大 跡 一 郎
1,072
9.88%
3
大 跡 典 子
984
9.07%
4
The Bank of Yokohama
㈱横浜銀行
536
4.94%
5
中 島 章 智
510
4.70%
6
三菱UFJ信託銀行㈱
410
3.78%
7
NOMURA SINGAPORE LIMITED CUSTOMER SEGREGATED A/C FJ-1309 (常任代理人 野村證券㈱)
373
3.44%
8
相模産業㈱
324
2.99%
9
OASIS INVESTMENTS II MASTER FUND LTD. (常任代理人 シティバンク、エヌ・エイ東京支店)
272
2.51%
10
JP MORGAN CHASE BANK
JP MORGAN CHASE BANK 385632(常任代理人 ㈱みずほ銀行)
264
2.44%
Domestic Nominees
3.8%
+0.0% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
2.4%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
50.2%
+0.4% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
MSCO CUSTOMER SECURITIES
4.64%
12.52%
12.66%
+0.14%
大 跡 一 郎
9.88%
9.88%
9.88%
大 跡 典 子
9.07%
9.07%
9.07%
The Bank of Yokohama
㈱横浜銀行
4.95%
4.95%
4.94%
-0.01%
中 島 章 智
3.20%
4.40%
4.70%
+0.30%
三菱UFJ信託銀行
3.78%
3.78%
3.78%
NOMURA SINGAPORE LIMITED CUSTOMER SEGREGATED A/C FJ-1309
NEW ENTRY
—
—
—
3.44%
NEW
相模産業
—
2.99%
2.99%
OASIS INVESTMENTS II MASTER FUND LTD.
NEW ENTRY
—
—
—
2.51%
NEW
JP Morgan
—
2.44%
2.44%
BANQUE PICTET AND CIE SA
last seen 2024
Exited Top 10
3.44%
3.44%
—
BNP PARIBAS LONDON BRANCH FOR PRIME BROKERAGE CLEARANCE ACC FOR THIRD PARTY
last seen 2024
Exited Top 10
—
2.49%
—
野村證券
last seen 2023
Exited Top 10
3.73%
—
—
Morgan Stanley
last seen 2023
Exited Top 10
4.48%
—
—
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC)
last seen 2023
Exited Top 10
4.41%
—
—
Concentration (HHI)
ⓘ
316
428
434
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥950M
+88% since 2023
Holdings
10
+1 new
1 exited
Trend
2 building
vs 2023
Held Company
FY2025
¥950M total
FY2023
¥504M total
Book Val ¥M
Shares
Book Val ¥M
Shares
㈱コンコルディア・フィナンシャルグループ
492
501,013
244
501,013
M
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
124
+200.0%
↑
32,802
58
10,934
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
123
61,130
52
61,130
TOPPAN Holdings Inc.
TOPPANホールディングス㈱
64
NEW
New
15,750
—
M
Mitsubishi Chemical Gloup Corporation
三菱ケミカルグループ㈱
40
55,000
43
55,000
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
30
7,449
14
7,449
Tokuyama Corporation
㈱トクヤマ
30
10,800
23
10,800
Tokyo Kiraboshi Financial Group, Inc.
㈱東京きらぼしフィナンシャルグループ
26
4,500
12
4,500
M
SUNDRUG CO.,LTD.
㈱サンドラッグ
19
+6.0%
↑
4,614
16
4,354
Maruto Sangyo Co., Ltd
丸東産業㈱
0
100
0
100
凸版印刷㈱
—
−100%
Exit
—
42
15,750
M
Portfolio total
950
504
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding