MITSUBISHI PENCIL CO.,LTD.

三菱鉛筆株式会社

Other Products

Mitsubishi Pencil Co., Ltd. manufactures and supplies writing instruments in Japan, the United States, Europe, Asia, and internationally. The company operates through Writing Instruments and Writing Instrument Peripheral Products Business; and Other Business segments. It offers pencils and colored pencils, water-based ink roller balls, oil-based ballpoint pens, mechanical pencils and refill lead, felt-tip pens and markers, and office and school supplies; and the sale of adhesive tape and handicrafts. The company also provides ballpoint pen; multifunctional and customizable pen; sign pens and markers; seals and name pens; green net; and sharp; eye makeup and hair dye products; and carbon nanotubes, acoustic matching layers, electrode materials, and containers. It serves medical care, electronics, automobiles, and cosmetics industries. Mitsubishi Pencil Co., Ltd. was founded in 1887 and is headquartered in Tokyo, Japan.

← Companies

Price

¥2,623

Market Cap

¥141.9B

Ent. Value

¥119.7B

Net Cash

¥22.2B

Shares Out.

54.1M

P / E

23.0×

EV / EBIT

12.4×

P / Book

1.02×

P / NCAV

2.88×

Div. Yield

1.98%

Financials

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥89.8B	¥88.8B	¥74.8B	¥69.0B	¥61.9B
Cost of Sales	¥45.3B	¥42.0B	¥36.4B	¥35.0B	¥31.2B
Gross Profit	¥44.5B	¥46.8B	¥38.4B	¥34.0B	¥30.7B
SG&A	¥34.8B	¥34.6B	¥26.6B	¥24.7B	¥23.1B
Operating Income	¥9.7B	¥12.2B	¥11.9B	¥9.2B	¥7.5B
Non-Operating Income	¥1.3B	¥1.3B	¥1.2B	¥1.0B	¥949M
Dividend Income	¥690M	¥535M	¥432M	¥370M	¥324M
Interest Income	¥103M	¥191M	¥97M	¥30M	¥18M
Non-Operating Expenses	¥985M	¥576M	¥173M	¥133M	¥160M
Interest Expense	¥256M	¥99M	¥23M	¥28M	¥31M
Ordinary Income	¥10.0B	¥13.0B	¥12.9B	¥10.1B	¥8.3B
Pre-tax Income	¥9.7B	¥16.6B	¥14.3B	¥10.2B	¥8.1B
Income Taxes	¥3.3B	¥5.1B	¥3.9B	¥3.1B	¥2.2B
Current Tax	¥3.0B	¥5.0B	¥3.5B	¥2.7B	¥2.5B
Deferred Tax	¥249M	¥130M	¥391M	¥388M	¥-364M
Net Income (owners)	¥6.2B	¥11.3B	¥10.2B	¥7.0B	¥5.7B
Minority Interest	¥241M	¥289M	¥277M	¥146M	¥254M
Comprehensive Income	¥14.8B	¥17.8B	¥14.4B	¥10.4B	¥7.8B
EBITDA	¥15.1B	¥16.6B	¥14.5B	¥12.1B	¥10.1B
Goodwill Amort. (J-GAAP)	¥523M	¥380M	¥35M	¥130M	¥122M
EPS	¥114.27	¥204.80	¥186.77	¥125.73	¥100.96
Shares Outstanding	54.1M	55.1M	54.1M	54.7M	55.7M
Shares Issued (total)	60.0M	61.0M	63.3M	63.3M	64.3M
Treasury Shares	6.0M	6.0M	9.2M	8.6M	8.6M

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥183.0B	¥176.9B	¥145.5B	¥130.8B	¥123.8B
Current Assets	¥91.8B	¥95.2B	¥98.3B	¥86.4B	¥81.4B
Cash & Deposits	¥37.1B	¥41.3B	¥57.9B	¥48.1B	¥44.9B
Trade Receivables	¥17.9B	¥17.3B	¥15.0B	¥14.0B	—
Non-Current Assets	¥91.2B	¥81.7B	¥47.2B	¥44.4B	¥42.4B
PP&E	¥33.3B	¥31.8B	¥22.5B	¥24.0B	¥24.6B
Goodwill	¥5.8B	¥5.7B	—	¥33M	¥154M
Intangible Assets	¥12.7B	¥12.2B	¥1.1B	¥1.2B	¥1.4B
Investment Securities	¥32.0B	¥26.1B	¥19.5B	¥16.5B	¥14.2B
Deferred Tax Assets	¥624M	¥618M	¥598M	¥378M	¥337M
Total Liabilities	¥42.6B	¥46.2B	¥29.0B	¥25.8B	¥26.1B
Current Liabilities	¥14.7B	¥24.4B	¥19.8B	¥17.3B	¥17.6B
Accounts Payable	¥3.1B	¥10.0B	¥9.3B	¥8.1B	¥8.3B
ST Debt	¥1.7B	¥1.7B	¥1.5B	¥1.5B	¥1.5B
Taxes Payable	¥904M	¥2.8B	¥2.1B	¥1.2B	¥1.8B
Non-Current Liabilities	¥27.9B	¥21.8B	¥9.2B	¥8.5B	¥8.5B
Total LT Borrowings	¥13.2B	¥9.9B	¥1.9B	¥2.6B	¥3.3B
Pension Obligations	¥2.9B	¥3.0B	¥3.1B	¥3.3B	¥3.8B
Deferred Tax Liab.	¥10.6B	¥7.7B	¥3.5B	¥1.7B	¥474M
Total Equity	¥140.4B	¥130.7B	¥116.5B	¥105.0B	¥97.7B
Capital Stock	¥4.5B	¥4.5B	¥4.5B	¥4.5B	¥4.5B
Capital Surplus	¥4.8B	¥4.0B	¥4.0B	¥4.0B	¥4.0B
Retained Earnings	¥106.5B	¥104.6B	¥100.0B	¥91.8B	¥87.7B
Treasury Stock	¥-6.0B	¥-5.2B	¥-8.0B	¥-7.1B	¥-7.0B
AOCI	¥28.7B	¥20.4B	¥13.8B	¥9.9B	¥6.7B
Equity (owners)	¥109.8B	¥107.9B	¥100.5B	¥93.2B	¥89.2B
Minority Interests	¥1.9B	¥2.4B	¥2.2B	¥1.9B	¥1.8B

Total Interest-Bearing Debt ⓘ	¥14.9B	¥11.6B	¥3.4B	¥4.1B	¥4.8B
Net Cash ⓘ	¥22.2B	¥29.7B	¥54.5B	¥44.0B	¥40.1B
NCAV ⓘ	¥49.2B	¥49.0B	¥69.3B	¥60.6B	¥55.3B
NCAV/Share	¥910	¥890	¥1,281	¥1,107	¥993
BV/Share	¥2,030	¥1,959	¥1,858	¥1,703	¥1,603

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥2.4B	¥6.5B	¥11.8B	¥7.3B	¥8.4B
Interest Paid	¥-250M	¥-99M	¥-23M	¥-28M	¥-31M
Interest Received	¥795M	¥742M	¥514M	¥400M	¥342M
D&A	¥4.9B	¥4.1B	¥2.6B	¥2.7B	¥2.5B
Goodwill Amort.	¥523M	¥380M	¥35M	¥130M	¥122M
Investing CF	¥-7.9B	¥-27.9B	¥-71M	¥-1.6B	¥-3.9B
Purchase Investments	¥-577M	¥-905M	¥-290M	¥-145M	¥-503M
Proceeds from Invest.	¥139M	¥112M	¥100M	¥26M	¥375M
Financing CF	¥-1.9B	¥4.1B	¥-3.7B	¥-3.9B	¥-2.8B
Dividends Paid	¥-2.8B	¥-2.4B	¥-2.0B	¥-1.8B	¥-1.8B
Share Buybacks	¥-2.4B	¥-1.5B	¥-925M	¥-1.3B	¥-177M
LT Debt Repaid	¥-1.7B	¥-2.0B	¥-720M	¥-720M	¥-720M
Free Cash Flow	¥2.4B	¥6.5B	¥11.8B	¥7.3B	¥8.4B
Net Change in Cash	¥-6.8B	¥-16.3B	¥8.8B	¥2.6B	¥2.4B

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	4.7%	9.3%	9.4%	7.0%	6.1%
ROA	3.5%	7.0%	7.4%	5.5%	4.6%
EPS	¥114.27	¥204.80	¥186.77	¥125.73	¥100.96
DPS	¥52.00	¥46.00	¥40.00	¥35.00	¥32.00
BPS	¥2,560.99	¥2,320.42	¥2,103.23	¥1,874.99	¥1,715.15
FCF/Share	¥45	¥117	¥217	¥133	¥150
NCAV/Share	¥910	¥890	¥1,281	¥1,107	¥993
Payout Ratio	45.5%	22.5%	21.4%	27.8%	31.7%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 2

Date	Activist	Stake	Event	Flag	Demands	Source
2025-06-19	Mitsui Sumitomo Insurance Co.,Ltd.	4.92%	change	Passive	—
2024-06-20	Sumitomo Mitsui Trust Bank,Limited	8.15%	change	Passive	—

#	Shareholder	Shares (thou.)	% of Total
1	Japan Master Trust Bank 日本マスタートラスト信託銀行株式会社（信託口）	36,324	6.40%
2	The Bank of Yokohama 株式会社横浜銀行	28,316	4.99%
3	Business Partner Stock Ownership Plan 三菱鉛筆取引先持株会	24,507	4.32%
4	Sumitomo Mitsui Banking Corporation 株式会社三井住友銀行	24,077	4.24%
5	Sumitomo Mitsui Trust Bank 三井住友信託銀行株式会社	23,750	4.18%
6	Daido Life Insurance Co. 大同生命保険株式会社	23,440	4.13%
7	Japan Custody Bank 株式会社日本カストディ銀行（信託口）	20,412	3.60%
8	Meiji Yasuda Life Insurance 明治安田生命保険相互会社	16,195	2.85%
9	株式会社みずほ銀行	15,400	2.71%
10	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）	14,974	2.64%

as of 2025-12-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

14.2%

-0.4% vs 2024

Trust bank custodians — GPIF, pensions, investment trusts

Foreign Custodians

2.6%

+2.6% vs 2024

Sub-custodians for foreign asset managers

Direct / Strategic

23.2%

-2.9% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
Japan Master Trust Bank 日本マスタートラスト信託銀行		6.26%	5.59%	6.40% +0.81%
The Bank of Yokohama 式会社横浜銀行		4.99%	4.91%	4.99% +0.08%
Business Partner Stock Ownership Plan 三菱鉛筆取引先持株会		4.45%	4.23%	4.32% +0.09%
Sumitomo Mitsui Banking Corporation 三井住友銀行		4.46%	4.17%	4.24% +0.07%
Sumitomo Mitsui Trust Bank 三井住友信託銀行		4.18%	4.11%	4.18% +0.07%
Daido Life Insurance Co. 大同生命保険		4.13%	4.06%	4.13% +0.07%
Japan Custody Bank 日本カストディ銀行		—	4.88%	3.60% -1.28%
Meiji Yasuda Life Insurance 明治安田生命保険		2.85%	2.80%	2.85% +0.05%
みずほ銀行 NEW ENTRY		2.71%	—	2.71% NEW
State Street NEW ENTRY	—	—	—	2.64% NEW
Mitsui Sumitomo Insurance Company, Limited 三井住友海上火災保険 last seen 2024	Exited Top 10	3.02%	2.96%	—
Aioi Nissay Dowa Insurance Co. あいおいニッセイ同和損害保険 last seen 2024	Exited Top 10	3.02%	2.96%	—
Concentration (HHI) ⓘ		172	173	172

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

Portfolio Book Value ¥29,718M +69% since 2023

Holdings 53 +4 new 6 exited

Trend 14 building vs 2023

Held Company	FY2025 ¥29,718M total		FY2023 ¥17,573M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
Concordia Financial Group, Ltd. 株式会社横浜フィナンシャルグループ	9,114	NEW New 7,046,212	—		M
Sanrio Company, Ltd. 株式会社サンリオ	2,092	+200.5% ↑ 425,542	832	141,595	M
Mizuho Financial Group, Inc. 株式会社みずほフィナンシャルグループ	1,772	310,968	750	310,968	M
Mitsubishi UFJ Financial Group, Inc. 株式会社三菱UFJフィナンシャル・グループ	1,554	623,400	755	623,400	M
Linc Limited	1,511	NEW New 8,000,000	—
T&D Holdings, Inc. 株式会社T＆Dホールディングス	1,232	341,000	764	341,000	M
TOKYO OHKA KOGYO CO., LTD. 東京応化工業株式会社	1,096	+200.0% ↑ 189,000	196	63,000	M
Mizuho Leasing Company, Limited みずほリース株式会社	1,059	+400.0% ↑ 750,000	726	150,000	M
RYOHIN KEIKAKU CO.,LTD. 株式会社良品計画	957	+100.0% ↑ 344,000	405	172,000
Sumitomo Mitsui Financial Group, Inc. 株式会社三井住友フィナンシャルグループ	940	+200.0% ↑ 186,504	427	62,168	M
Sumitomo Realty & Development Co.,Ltd. 住友不動産株式会社	889	113,100	474	113,100	M
SAKATA SEED CORPORATION 株式会社サカタのタネ	818	191,700	750	191,700	M
Dai Nippon Printing Co.,Ltd. 大日本印刷株式会社	538	+100.0% ↑ 200,000	417	100,000	M
Sumitomo Mitsui Trust Group, Inc. 三井住友トラストグループ株式会社	503	NEW New 105,322	—		M
NIPPON PAINT HOLDINGS CO.,LTD. 日本ペイントホールディングス株式会社	449	428,825	88	428,825
OKAMURA CORPORATION 株式会社オカムラ	412	180,000	392	180,000	M
OKAMOTO INDUSTRIES,INC. オカモト株式会社	412	75,400	375	75,400	M
DAIFUKU CO.,LTD. 株式会社ダイフク	362	73,500	209	73,500	M
THE KEIHIN CO., LTD. ケイヒン株式会社	333	+68.1% ↑ 119,200	124	70,900	M
Isetan Mitsukoshi Holdings Ltd. 株式会社三越伊勢丹ホールディングス	250	110,000	168	110,000	M
GLOBERIDE, Inc. グローブライド株式会社	250	115,000	230	115,000	M
Osaki Electric Co.,Ltd. 大崎電気工業株式会社	233	188,000	120	188,000	M
Dainichiseika Color & Chemicals Mfg. Co., Ltd. 大日精化工業株式会社	231	55,660	140	55,660	M
KINDEN CORPORATION 株式会社きんでん	228	33,700	80	33,700	M
Stanley Electric Co.,Ltd. スタンレー電気株式会社	224	73,000	193	73,000	M
UNION TOOL CO. ユニオンツール株式会社	218	25,600	85	25,600	M
MS ADインシュアランスグループホールディングス株式会社	212	NEW New 57,597	—		M
AEON Co.,Ltd. イオン株式会社	165	+200.0% ↑ 66,642	69	22,214
Nikkiso Co. 日機装株式会社	160	101,000	104	101,000	M
MITSUBA Corporation 株式会社ミツバ	153	147,000	144	147,000	M
Riken Vitamin Co., Ltd. 理研ビタミン株式会社	146	49,400	110	49,400	M
YAKULT HONSHA CO.,LTD. 株式会社ヤクルト本社	144	59,000	186	59,000	M
Nippon Shikizai, Inc. 株式会社日本色材工業研究所	144	126,000	223	126,000
Maxell, Ltd. マクセル株式会社	140	58,500	91	58,500
Yokohama Reito Co., Ltd. 横浜冷凍株式会社	126	100,000	104	100,000	M
FUJI KYUKO CO., LTD. 富士急行株式会社	102	49,500	208	49,500
taisei oncho co.,ltd. 大成温調株式会社	97	21,500	98	21,500
三桜工業株式会社	90	106,000	83	106,000	M
Hakuyosha Co. 株式会社白洋舍	80	25,100	58	25,100	M
Hodogaya Chemical Co., Ltd. 保土谷化学工業株式会社	62	+100.0% ↑ 28,080	52	14,040	M
Sodick Co.,Ltd. 株式会社ソディック	60	63,000	45	63,000	M
Taikisha Ltd. 株式会社大気社	46	+100.0% ↑ 14,000	28	7,000	M
Kyodo Printing Co., Ltd. 共同印刷株式会社	34	+300.0% ↑ 22,000	17	5,500	M
SANYEI CORPORATION 株式会社三栄コーポレーション	25	+300.0% ↑ 30,560	17	7,640	M
NKK SWITCHES.CO.,LTD. NKKスイッチズ株式会社	23	5,000	27	5,000	M
OTSUKA CORPORATION 株式会社大塚商会	10	+172.2% ↑ 3,362	7	1,235	M
第一生命ホールディングス株式会社	8	+300.0% ↑ 6,800	5	1,700	M
MARUBUN CORPORATION 丸文株式会社	7	5,760	9	5,760
Olympic Group Corporation 株式会社Olympicグループ	4	9,000	4	9,000
Lilycolor Co., Ltd. リリカラ株式会社	3	5,000	2	5,000
nikki co.,ltd 株式会社ニッキ	—		—
TERAOKA SEISAKUSHO CO.,LTD. 株式会社寺岡製作所	—		—		M
岩崎電気株式会社	—		—
Kintetsu Department Store Co. 株式会社近鉄百貨店	—	−100% Exit —	1	400
I-NET CORP. 株式会社アイネット	—	−100% Exit —	101	55,000	M
株式会社コンコルディア・フィナンシャルグループ	—	−100% Exit —	4,541	7,046,212	M
LINC PEN PLASTICS LIMITED	—	−100% Exit —	2,291	2,000,000
三井住友トラスト・ホールディングス株式会社	—	−100% Exit —	142	52,661	M
MS AD インシュアランスグループホールディングス株式会社	—	−100% Exit —	106	19,199	M
Portfolio total	29,718		17,573

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