8283
PALTAC CORPORATION
株式会社ＰＡＬＴＡＣ
Wholesale Trade
Paltac Corporation engages in the wholesale of cosmetics, daily necessities, and over-the-counter drugs in Japan. The company was incorporated in 1928 and is headquartered in Osaka, Japan. Paltac Corporation is a subsidiary of MediPal Holdings Corporation.
Price
¥6,630
Market Cap
¥417.7B
Ent. Value
¥334.4B
Net Cash
est
¥83.3B
Shares Out.
63.0M
P / E
18.5×
EV / EBIT
12.7×
P / Book
1.34×
P / NCAV
2.61×
Div. Yield
0.86%
Financials
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥1,237.8B | ¥1,188.1B | ¥1,152.0B | ¥1,104.2B | ¥1,045.7B |
| Cost of Sales | ¥1,145.5B | ¥1,099.1B | ¥1,065.6B | ¥1,021.8B | ¥964.0B |
| Gross Profit | ¥92.3B | ¥89.0B | ¥86.4B | ¥82.4B | ¥81.8B |
| SG&A | ¥65.9B | ¥61.0B | ¥59.2B | ¥57.9B | ¥55.8B |
| Operating Income | ¥26.4B | ¥28.0B | ¥27.2B | ¥24.5B | ¥25.9B |
| Non-Operating Income | ¥3.4B | ¥3.8B | ¥3.4B | ¥3.0B | ¥2.8B |
| Dividend Income | — | ¥516M | ¥449M | ¥384M | ¥378M |
| Non-Operating Expenses | — | ¥168M | ¥59M | ¥46M | ¥58M |
| Interest Expense | — | ¥6M | ¥5M | ¥5M | ¥6M |
| Ordinary Income | ¥29.8B | ¥31.7B | ¥30.5B | ¥27.4B | ¥28.6B |
| Pre-tax Income | ¥31.8B | ¥32.7B | ¥29.4B | ¥27.8B | ¥28.4B |
| Income Taxes | ¥9.7B | ¥9.8B | ¥8.8B | ¥8.6B | ¥8.8B |
| Current Tax | — | ¥9.5B | ¥9.3B | ¥8.5B | ¥8.6B |
| Deferred Tax | — | ¥352M | ¥-541M | ¥82M | ¥147M |
| Net Income (owners) | ¥22.0B | ¥22.9B | ¥20.6B | ¥19.3B | ¥19.6B |
| EBITDA | ¥32.8B | ¥34.5B | ¥33.7B | ¥30.2B | ¥31.4B |
| EPS | ¥358.99 | ¥366.46 | ¥328.40 | ¥306.33 | ¥310.34 |
| Shares Outstanding | — | 63.0M | 63.6M | 63.6M | 63.6M |
| Shares Issued (total) | — | 63.0M | 63.6M | 63.6M | 63.6M |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥532.2B | ¥507.0B | ¥495.7B | ¥476.9B | ¥448.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥390.4B | ¥365.7B | ¥347.2B | ¥327.8B | ¥306.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥83.3B | ¥69.9B | ¥61.0B | ¥46.0B | ¥40.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | — | ¥212.5B | ¥208.1B | ¥201.8B | ¥191.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥141.8B | ¥141.3B | ¥148.5B | ¥149.1B | ¥141.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥109.3B | ¥112.9B | ¥117.6B | ¥123.0B | ¥118.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | — | ¥724M | ¥731M | ¥821M | ¥880M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥29.4B | ¥25.6B | ¥28.5B | ¥23.7B | ¥21.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥230.4B | ¥219.4B | ¥217.7B | ¥217.2B | ¥205.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥218.5B | ¥209.0B | ¥207.3B | ¥207.5B | ¥196.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | — | ¥5.3B | ¥5.4B | ¥4.6B | ¥4.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥11.9B | ¥10.4B | ¥10.4B | ¥9.7B | ¥8.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | — | ¥6.5B | ¥6.7B | ¥5.9B | ¥5.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥301.7B | ¥287.7B | ¥278.0B | ¥259.7B | ¥243.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | — | ¥15.9B | ¥15.9B | ¥15.9B | ¥15.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | — | ¥25.1B | ¥27.8B | ¥27.8B | ¥27.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥255.5B | ¥240.4B | ¥223.7B | ¥208.5B | ¥194.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | — | ¥-5.8B | ¥-3.5B | ¥-3.5B | ¥-3.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | — | ¥12.1B | ¥14.0B | ¥11.0B | ¥9.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥286.6B | ¥275.6B | ¥263.9B | ¥248.7B | ¥234.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥83.3B | ¥69.9B | ¥61.0B | ¥46.0B | ¥40.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥159.9B | ¥146.4B | ¥129.4B | ¥110.6B | ¥101.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | — | ¥2,323 | ¥2,036 | ¥1,740 | ¥1,602 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | — | ¥4,375 | ¥4,153 | ¥3,913 | ¥3,690 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥24.9B | ¥20.7B | ¥26.8B | ¥16.6B | ¥21.9B |
| Interest Paid | — | ¥-8M | ¥-3M | ¥-5M | ¥-6M |
| Interest Received | — | ¥516M | ¥449M | ¥385M | ¥378M |
| D&A | ¥6.4B | ¥6.5B | ¥6.6B | ¥5.8B | ¥5.5B |
| Investing CF | ¥-402M | ¥-428M | ¥-6.3B | ¥-6.1B | ¥-10.2B |
| CapEx | ¥2.1B | ¥1.4B | ¥5.7B | ¥5.5B | ¥9.1B |
| Purchase Investments | — | ¥-86M | ¥-576M | ¥-76M | ¥-206M |
| Proceeds from Invest. | — | ¥1.4B | ¥260M | — | ¥173M |
| Financing CF | ¥-11.2B | ¥-11.3B | ¥-5.5B | ¥-5.2B | ¥-8.7B |
| Dividends Paid | — | ¥-6.2B | ¥-5.4B | ¥-5.0B | ¥-4.8B |
| Share Buybacks | — | ¥-5.0B | ¥0M | ¥0M | ¥-3.5B |
| LT Debt Repaid | — | — | — | — | ¥-350M |
| Free Cash Flow | ¥22.9B | ¥19.3B | ¥21.1B | ¥11.0B | ¥12.8B |
| Net Change in Cash | — | ¥8.9B | ¥15.0B | ¥5.3B | ¥3.0B |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 7.5% | 8.1% | 7.7% | 7.6% | 8.2% |
| ROA | 4.2% | 4.6% | 4.2% | 4.2% | 4.4% |
| EPS | ¥358.99 | ¥366.46 | ¥328.40 | ¥306.33 | ¥310.34 |
| DPS | ¥57.00 | ¥105.00 | ¥94.00 | ¥82.00 | ¥78.00 |
| BPS | ¥4,963.27 | ¥4,664.19 | ¥4,422.87 | ¥4,132.28 | ¥3,878.33 |
| FCF/Share | — | ¥306 | ¥332 | ¥174 | ¥202 |
| NCAV/Share | — | ¥2,323 | ¥2,036 | ¥1,740 | ¥1,602 |
| Payout Ratio | 15.9% | 28.7% | 28.6% | 26.8% | 25.1% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 7
Capital Allocation Signals 2
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-11
16:30
|
TOB | — | PALTAC announced suspension of dividends for fiscal year ending March 31, 2027, eliminating both interim (Sept 30, 2026)… | |
|
Summary
PALTAC announced suspension of dividends for fiscal year ending March 31, 2027, eliminating both interim (Sept 30, 2026) and year-end dividends. The decision follows PALTAC board approval to support a public tender offer by parent company Medapal Holdings to take the company private, with the acquisition price calculated assuming no dividend payments. This represents a complete dividend cut from prior guidance of 57 yen (interim) and 63 yen (year-end).
YoY: -100%
Source (JP)
本公開買付けが行われる予定であることを踏まえて、2026年９月30日（第２四半期末）を基準日とする剰余金の配当及び2027年３月31日（期末）を基準日とする剰余金の配当を行わないことを決議いたしました
剰余金の配当（無配）に関するお知らせ
TDnet PDF
|
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|
2026-05-11
16:30
|
TOB | ¥6650.0/sh 14.3% | Medipol Holdings (parent company) announced a tender offer for all outstanding PALTAC shares at 6,650 yen per share to a… | |
|
Summary
Medipol Holdings (parent company) announced a tender offer for all outstanding PALTAC shares at 6,650 yen per share to achieve 100% ownership and complete privatization. The offer runs from May 12 to July 7, 2026, with a minimum purchase of 8,676,100 shares (14.27% of outstanding shares, excluding treasury stock) to secure a two-thirds supermajority required for subsequent squeeze-out procedures. PALTAC board unanimously endorsed the offer and recommended shareholder participation.
Deadline: 2026-07-07
% of Shares: 14.3%
Shares: 8,676,100
Source (JP)
当社親会社である株式会社メディパルホールディングスによる当社株式に対する公開買付けに関し、賛同の意見を表明するとともに、当社の株主の皆様に対して、本公開買付けに応募することを推奨する旨の決議をいたしました。公開買付価格：普通株式１株につき、金6,650円、買付予定数の下限：8,676,100株、期間：2026年５月12日から2026年７月７日まで
当社親会社である株式会社メディパルホールディングスによる当社株式に対する公開買付けに関する賛同の意見表明及び応募推奨のお知らせ
TDnet PDF
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| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 | 株式会社メディパルホールディングス | 31,853,485 | 51.65% |
| 2 |
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）
|
4,930,000 | 7.99% |
| 3 |
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行（信託口）
|
1,726,500 | 2.80% |
| 4 |
JPMorgan Chase Bank, N.A.
JP MORGAN CHASE BANK 385632 （常任代理人 株式会社みずほ銀行決済営業部）
|
1,372,550 | 2.23% |
| 5 | ＰＡＬＴＡＣ従業員持株会 | 1,251,860 | 2.03% |
| 6 | BBH FOR FIDELITY LOW－PRICED STOCK FUND (常任代理人 株式会社三菱ＵＦＪ銀行) | 1,149,604 | 1.86% |
| 7 |
Northern Trust Company
NORTHERN TRUST CO.(AVFC) RE FIDELITY FUNDS (常任代理人 香港上海銀行東京支店カストディ業務部)
|
1,122,300 | 1.82% |
| 8 |
BNY Mellon (Nominee)
BNYM AS AGT/CLTS NON TREATY JASDEC (常任代理人 株式会社三菱ＵＦＪ銀行)
|
903,824 | 1.47% |
| 9 | GOVERNMENT OF NORWAY （常任代理人 シティバンク、エヌ・エイ東京支店） | 856,643 | 1.39% |
| 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）
|
784,281 | 1.27% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
10.8%
+0.2% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
6.8%
+0.7% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
56.9%
+0.9% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 74.5% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 式会社メディパルホールディングス | 50.68% | 50.68% | 51.65% +0.97% | |
| 日本マスタートラスト信託銀行 | 11.31% | 8.14% | 7.99% -0.15% | |
| 日本カストディ銀行 | 3.17% | 2.41% | 2.80% +0.39% | |
| JP Morgan | 3.30% | 1.56% | 2.23% +0.67% | |
| ＰＡＬＴＡＣ従業員持株会 | 2.06% | 1.99% | 2.03% +0.04% | |
| Fidelity | 1.33% | 1.88% | 1.86% -0.02% | |
| Northern Trust | 1.25% | 1.50% | 1.82% +0.32% | |
| BNY Mellon NEW ENTRY | — | — | — | 1.47% NEW |
| GOVERNMENT OF NORWAY | — | 1.49% | 1.39% -0.10% | |
| State Street | 2.14% | 3.02% | 1.27% -1.75% | |
| 野村信託銀行株式会社（投信口） last seen 2023 | Exited Top 10 | 1.23% | — | — |
| Concentration (HHI) ⓘ | 2731 | 2664 | 2761 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥25,183M
+11% since 2023
Holdings
35
+1 new
3 exited
Trend
16 building
vs 2023
| Held Company | FY2025 ¥25,183M total | FY2023 ¥22,753M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
CREATE SD HOLDINGS CO.,LTD
株式会社クリエイトＳＤホールディングス
|
5,033 |
+0.1%
↑
1,730,920
|
5,810 | 1,729,289 | |
|
MatsukiyoCocokara & Co
株式会社マツキヨココカラ＆カンパニー
|
3,616 |
+201.2%
↑
1,545,109
|
3,596 | 513,047 | |
|
TRIAL Holdings, Inc.
株式会社トライアルホールディングス
|
2,616 |
NEW
New
1,200,000
|
— | M | |
|
Lion Corporation
ライオン株式会社
|
2,409 |
1,359,503
|
1,945 | 1,359,503 | M |
|
KUSURI NO AOKI HOLDINGS CO., LTD.
株式会社クスリのアオキホールディングス
|
1,744 |
+327.7%
↑
513,200
|
805 | 120,000 | |
|
AEON Co.,Ltd.
イオン株式会社
|
1,714 |
+2.6%
↑
457,157
|
1,143 | 445,479 | |
|
ROHTO PHARMACEUTICAL CO.,LTD.
ロート製薬株式会社
|
1,482 |
663,040
|
1,836 | 663,040 | |
|
izumico.,ltd
株式会社イズミ
|
729 |
+1.6%
↑
230,538
|
713 | 226,866 | |
|
HEIWADO CO.,LTD.
株式会社平和堂
|
704 |
+5.6%
↑
277,180
|
534 | 262,566 | |
|
JOYFUL HONDA CO.,LTD.
株式会社ジョイフル本田
|
592 |
296,000
|
507 | 296,000 | |
|
MANDOM CORPORATION
株式会社マンダム
|
591 |
448,010
|
661 | 448,010 | M |
|
WELCIA HOLDINGS CO., LTD.
ウエルシアホールディングス株式会社
|
538 |
+2.7%
↑
248,924
|
686 | 242,345 | |
|
HISAMITSU PHARMACEUTICAL CO.,INC.
久光製薬株式会社
|
444 |
+2.7%
↑
109,883
|
404 | 106,965 | |
|
KOBAYASHI PHARMACEUTICAL CO.,LTD.
小林製薬株式会社
|
371 |
65,551
|
530 | 65,551 | M |
|
FUJI CO., LTD.
株式会社フジ
|
261 |
+2.1%
↑
120,537
|
203 | 118,015 | |
|
VALOR HOLDINGS CO.,LTD.
株式会社バローホールディングス
|
256 |
107,280
|
206 | 107,280 | |
|
LIFE CORPORATION
株式会社ライフコーポレーション
|
255 |
+111.6%
↑
132,414
|
161 | 62,572 | |
| Ｇｅｎｋｙ ＤｒｕｇＳｔｏｒｅｓ株式会社 | 244 |
+103.5%
↑
85,894
|
164 | 42,214 | |
|
KOHNAN SHOJI CO.,LTD.
コーナン商事株式会社
|
226 |
+2.7%
↑
60,680
|
191 | 59,083 | |
|
SUGI HOLDINGS CO.,LTD.
スギホールディングス株式会社
|
226 |
+200.0%
↑
80,376
|
152 | 26,792 | |
|
UNICHARM CORPORATION
ユニ・チャーム株式会社
|
222 |
+200.0%
↑
186,786
|
338 | 62,262 | |
|
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サツドラホールディングス株式会社
|
160 |
180,000
|
152 | 180,000 | |
|
FUMAKILLALIMITED
フマキラー株式会社
|
133 |
122,820
|
130 | 122,820 | M |
|
Aeon Hokkaido Corporation
イオン北海道株式会社
|
117 |
138,960
|
111 | 138,960 | |
|
TSURUHA HOLDINGS INC.
株式会社ツルハホールディングス
|
111 |
12,000
|
106 | 12,000 | |
|
Sekichew Co., Ltd.
株式会社セキチュー
|
88 |
+6.9%
↑
86,983
|
99 | 81,368 | |
|
PLANT Co.,Ltd
株式会社ＰＬＡＮＴ
|
74 |
50,000
|
34 | 50,000 | |
|
PLANET,INC.
株式会社プラネット
|
60 |
48,000
|
59 | 48,000 | |
|
MINISTOP CO., LTD.
ミニストップ株式会社
|
58 |
32,343
|
45 | 32,343 | |
|
DCM Holdings Co.,Ltd.
ＤＣＭホールディングス株式会社
|
46 |
33,541
|
38 | 33,541 | |
|
COSMOS Pharmaceutical Corporation
株式会社コスモス薬品
|
30 |
+100.0%
↑
4,000
|
23 | 2,000 | |
|
CAWACHI LIMITED
株式会社カワチ薬品
|
27 |
9,800
|
22 | 9,800 | |
|
KOMERI CO.,LTD.
株式会社コメリ
|
5 |
1,890
|
5 | 1,890 | |
|
juntendo co.,ltd.
株式会社ジュンテンドー
|
1 |
2,552
|
1 | 2,552 | |
| エイチ・ツー・オー リテイリング株式会社 | — | — | |||
|
Eisai Co., Ltd.
エーザイ株式会社
|
— |
−100%
Exit
—
|
729 | 97,200 | |
|
DAIICHI SANKYO COMPANY, LIMITED
第一三共株式会社
|
— |
−100%
Exit
—
|
445 | 92,385 | |
|
SANTEN PHARMACEUTICAL CO.,LTD.
参天製薬株式会社
|
— |
−100%
Exit
—
|
169 | 150,000 | |
| Portfolio total | 25,183 | 22,753 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding