Income Statement Otsuka Corporation

Stocks

4768

JP3188200004

IT Services & Consulting

Market Closed - Japan Exchange Other stock markets 07:30:00 12/06/2026 BST			5-day change	1st Jan Change
2,851.00 ^JPY	-3.50%		-4.26%	-11.79%

05-07	UK's MHRA approves Dawnzera for treatment of familial chylomicronemia syndrome	RE
05-01	Otsuka's Profit Jumps 15% in Q1	MT

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Published financial data: OTSUKA CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	852B	861B	977B	1,108B	1,323B
Total Revenues	852B	861B	977B	1,108B	1,323B
Cost of Goods Sold, Total	675B	677B	773B	883B	1,071B
Gross Profit	177B	184B	204B	224B	252B
Selling General & Admin Expenses, Total	115B	123B	135B	143B	155B
Provision for Bad Debts	-5M	89M	98M	394M	211M
Depreciation & Amortization - (IS)	6.15B	6.3B	6.26B	6.49B	7.14B
Other Operating Expenses, Total	121B	129B	141B	150B	162B
Operating Income	55.83B	54.77B	62.96B	74.22B	89.94B
Interest Expense, Total	-44M	-43M	-41M	-55M	-67M
Interest And Investment Income	239M	270M	398M	483M	770M
Net Interest Expenses	195M	227M	357M	428M	703M
Income (Loss) On Equity Invest.	794M	661M	825M	862M	727M
Currency Exchange Gains (Loss)	64M	335M	362M	696M	572M
Other Non Operating Income (Expenses)	679M	642M	13M	-273M	-422M
EBT, Excl. Unusual Items	57.56B	56.64B	64.52B	75.93B	91.52B
Gain (Loss) On Sale Of Investments	19M	596M	-71M	-1.91B	-892M
Gain (Loss) On Sale Of Assets	886M	460M	707M	-	-
Asset Writedown	-276M	-1.18B	-271M	-179M	-175M
Other Unusual Items	-6M	-	10M	-	-5M
EBT, Incl. Unusual Items	58.19B	56.51B	64.89B	73.84B	90.45B
Income Tax Expense	17.72B	16B	16.8B	19.61B	25.25B
Earnings From Continuing Operations	40.47B	40.51B	48.09B	54.22B	65.2B
Net Income to Company	40.47B	40.51B	48.09B	54.22B	65.2B
Minority Interest	-543M	-488M	-640M	-744M	-895M
Net Income - (IS)	39.93B	40.02B	47.45B	53.48B	64.3B
Net Income to Common Incl Extra Items	39.93B	40.02B	47.45B	53.48B	64.3B
Net Income to Common Excl. Extra Items	39.93B	40.02B	47.45B	53.48B	64.3B
Per Share Items
Net EPS - Basic	105.29	105.54	125.13	141.04	169.57
Basic EPS - Continuing Operations	105.29	105.54	125.13	141.04	169.57
Basic Weighted Average Shares Outstanding	379M	379M	379M	379M	379M
Net EPS - Diluted	105.29	105.54	125.13	141.04	169.1
Diluted EPS - Continuing Operations	105.29	105.54	125.13	141.04	169.1
Diluted Weighted Average Shares Outstanding	379M	379M	379M	379M	379M
Normalized Basic EPS	93.45	92.06	104.65	123.19	148.49
Normalized Diluted EPS	93.45	92.06	104.65	123.19	148.49
Dividend Per Share	57.5	62.5	67.5	75	90
Payout Ratio	54.59	56.85	49.93	47.86	73.7
Supplemental Items
EBITDA	63.82B	63.06B	70.89B	82.65B	99.28B
EBITA	55.83B	54.77B	62.96B	74.22B	89.94B
EBIT	55.83B	54.77B	62.96B	74.22B	89.94B
EBITDAR	71.29B	71.16B	78.88B	91.21B	108B
Effective Tax Rate - (Ratio)	30.45	28.31	25.89	26.56	27.92
Total Current Taxes	17.14B	16.84B	-	21.28B	-
Total Deferred Taxes	576M	-842M	-	-1.66B	-
Normalized Net Income	35.44B	34.91B	39.68B	46.71B	56.31B
Non-Cash Pension Expense	-687M	-368M	-193M	-225M	-50M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	28.73B	-	33.22B
General and Administrative Expenses	605M	604M	578M	625M	680M
Research And Development Expense From Footnotes	1.04B	1.2B	1.57B	2.26B	3.46B
Net Rental Expense, Total	7.48B	8.1B	7.98B	8.56B	8.76B
Imputed Operating Lease Interest Expense	297M	322M	333M	479M	638M
Imputed Operating Lease Depreciation	7.18B	7.78B	7.65B	8.08B	8.12B

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	205B	202B	229B	228B	252B
Short Term Investments	40M	40M	-	40M	-
Total Cash And Short Term Investments	205B	202B	229B	228B	252B
Accounts Receivable, Total	136B	152B	155B	201B	219B
Total Receivables	136B	152B	155B	201B	219B
Inventory	35.03B	44.83B	38.24B	74.42B	56B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	25.6B	35.67B	37.69B	65.48B	78.04B
Total Current Assets	401B	435B	460B	569B	606B
Gross Property Plant And Equipment	84.39B	84.16B	-	83.3B	-
Accumulated Depreciation	-46.68B	-48.32B	-	-48.39B	-
Net Property Plant And Equipment	37.71B	35.84B	34.67B	34.91B	35.8B
Long-term Investments	22.37B	22.68B	40.8B	22.82B	47.22B
Other Intangibles, Total	15.83B	15.77B	16.06B	20.28B	30.61B
Deferred Tax Assets Long-Term	5.34B	9.69B	10.47B	12.24B	10.05B
Other Long-Term Assets, Total	3.98B	3.93B	2M	14.8B	2M
Total Assets	486B	523B	562B	674B	729B
Liabilities
Accounts Payable, Total	91.94B	99.52B	125B	162B	187B
Accrued Expenses, Total	3.81B	3.88B	4.48B	5.26B	5.7B
Short-term Borrowings	4.8B	4.4B	4.4B	4.3B	4.3B
Current Portion of Long-Term Debt	-	1.7B	-	-	1.7B
Current Portion of Leases	865M	927M	-	666M	-
Current Income Taxes Payable	8.77B	9.08B	9.5B	13.79B	16.81B
Unearned Revenue Current, Total	-	16.14B	-	17.76B	-
Other Current Liabilities	60.1B	55.04B	59.57B	85.65B	108B
Total Current Liabilities	170B	191B	203B	290B	323B
Long-Term Debt	1.7B	-	1.7B	1.7B	-
Long-Term Leases	1.48B	1.41B	1.2B	861M	1.18B
Pension & Other Post Retirement Benefits	9.91B	7.08B	7.6B	5.31B	4.47B
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	1.11B	1.11B	1.08B	1.1B	1.15B
Total Liabilities	184B	200B	215B	299B	330B
Common Stock, Total	10.37B	10.37B	10.37B	10.37B	10.37B
Additional Paid In Capital	16.25B	16.25B	16.25B	16.25B	16.25B
Retained Earnings	273B	289B	312B	339B	356B
Treasury Stock	-139M	-140M	-141M	-143M	-143M
Comprehensive Income and Other	-581M	4.24B	5.09B	4.89B	11.51B
Total Common Equity	299B	319B	343B	371B	394B
Minority Interest	3.03B	3.34B	3.84B	4.45B	5.26B
Total Equity	302B	323B	347B	375B	400B
Total Liabilities And Equity	486B	523B	562B	674B	729B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	379M	379M	379M	379M	379M
ECS Total Common Shares Outstanding	379M	379M	379M	379M	379M
Book Value / Share	787.82	842.26	904.83	977.83	1.04K
Tangible Book Value	283B	304B	327B	351B	364B
Tangible Book Value Per Share	746.07	800.67	862.46	924.35	959.16
Total Debt	8.85B	8.44B	7.3B	7.53B	7.18B
Net Debt	-196B	-194B	-221B	-221B	-245B
Debt Equivalent of Unfunded Proj. Benefit Obligation	9.21B	6.36B	6.96B	4.7B	-2.47B
Debt Equivalent Oper. Leases	59.8B	64.78B	63.88B	68.48B	70.05B
Minority Interest, Total (Incl. Fin. Div)	3.03B	3.34B	3.84B	4.45B	5.26B
Account Code - Inventory Valuation	6	6	-	6	-
Inventories - Raw Materials, Total	740M	759M	755M	815M	864M
Inventories - Work In Process, Total	1.24B	1.44B	1.41B	1.67B	1.46B
Inventories - Finished Goods, Total	33.05B	42.64B	36.07B	71.94B	53.67B
Land - (BS)	15.09B	14.8B	-	14.45B	-
Buildings, Total	52.83B	52.88B	-	50.42B	-
Full Time Employees	9.17K	9.21K	9.42K	9.68K	10.08K
Accumulated Allowance for Doubtful Accounts (Supple)	75M	83M	93M	147M	163M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	39.93B	40.02B	64.89B	53.48B	90.45B
Depreciation & Amortization - CF	7.98B	8.29B	7.93B	8.43B	9.34B
Depreciation & Amortization, Total	7.98B	8.29B	7.93B	8.43B	9.34B
(Gain) Loss From Sale Of Asset	-823M	-395M	-436M	94M	175M
(Gain) Loss on Sale of Investments - (CF)	-19M	-596M	74M	1.91B	752M
Asset Writedown & Restructuring Costs	220M	1.12B	-	85M	-
(Income) Loss On Equity Investments - (CF)	-794M	-661M	-825M	-862M	-727M
Other Operating Activities, Total	679M	160M	-16.93B	1.8B	-22.99B
Change In Accounts Receivable	9.34B	-23.81B	-2.88B	-45.84B	-18.68B
Change In Inventories	9.17B	-9.72B	6.6B	-36.18B	18.42B
Change In Accounts Payable	-5.42B	14.78B	6.36B	54.48B	6.79B
Change in Other Net Operating Assets	-2.39B	-4M	6.86B	307M	8.67B
Cash from Operations	57.87B	29.2B	71.65B	37.71B	92.22B
Capital Expenditure	-5.2B	-1.25B	-3.99B	-3.22B	-4.37B
Sale of Property, Plant, and Equipment	1.55B	969M	1.67B	-	-
Sale (Purchase) of Intangible assets	-5.68B	-5.83B	-6.36B	-8.87B	-15.65B
Investment in Marketable and Equity Securities, Total	-160M	-1.96B	-12.28B	-8M	-161M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-150M	-	-	-
Other Investing Activities, Total	336M	-133M	-521M	145M	-288M
Cash from Investing	-9.16B	-8.36B	-21.47B	-11.95B	-20.48B
Long-Term Debt Issued, Total	-	-	1.7B	-	-
Total Debt Issued	-	-	1.7B	-	-
Short Term Debt Repaid, Total	-	-400M	-	-100M	-
Long-Term Debt Repaid, Total	-	-	-1.7B	-	-
Total Debt Repaid	-	-400M	-1.7B	-100M	-
Common Dividends Paid	-21.8B	-22.75B	-23.69B	-25.6B	-47.39B
Common & Preferred Stock Dividends Paid	-21.8B	-22.75B	-23.69B	-25.6B	-47.39B
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-160M	-154M	-148M	-196M	-223M
Cash from Financing	-21.96B	-23.31B	-23.84B	-25.89B	-47.61B
Foreign Exchange Rate Adjustments	2M	-4M	3M	1M	3M
Miscellaneous Cash Flow Adjustments	-	-2M	-	1M	-1M
Net Change in Cash	26.76B	-2.47B	26.34B	-127M	24.13B
Supplemental Items
Cash Interest Paid	44M	43M	39M	55M	66M
Cash Income Tax Paid (Refund)	17.8B	16.58B	17.26B	17.18B	23.36B
Levered Free Cash Flow	42.54B	17.97B	53.84B	19.84B	64.82B
Unlevered Free Cash Flow	42.57B	17.99B	53.87B	19.87B	64.86B
Change In Net Working Capital	-10.57B	17.45B	-16.93B	22.86B	-19.34B
Net Debt Issued / Repaid	-	-400M	0	-100M	-

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.29	6.78	7.25	7.51	8.01
Return on Total Capital	11.64	10.67	11.48	12.57	14.24
Return On Equity %	13.91	12.97	14.36	15.02	16.83
Return on Common Equity	13.86	12.95	14.32	14.98	16.81
Margin Analysis
Gross Profit Margin %	20.76	21.39	20.87	20.27	19.06
SG&A Margin	13.49	14.29	13.78	12.94	11.71
EBITDA Margin %	7.49	7.32	7.25	7.46	7.51
EBITA Margin %	6.55	6.36	6.44	6.7	6.8
EBIT Margin %	6.55	6.36	6.44	6.7	6.8
Income From Continuing Operations Margin %	4.75	4.7	4.92	4.9	4.93
Net Income Margin %	4.69	4.65	4.85	4.83	4.86
Net Avail. For Common Margin %	4.69	4.65	4.85	4.83	4.86
Normalized Net Income Margin	4.16	4.05	4.06	4.22	4.26
Levered Free Cash Flow Margin	4.99	2.09	5.51	1.79	4.9
Unlevered Free Cash Flow Margin	5	2.09	5.51	1.79	4.9
Asset Turnover
Asset Turnover	1.78	1.71	1.8	1.79	1.89
Fixed Assets Turnover	23.04	23.41	27.72	31.84	37.41
Receivables Turnover (Average Receivables)	6.07	5.98	6.36	6.22	6.3
Inventory Turnover (Average Inventory)	17.04	16.95	18.62	15.68	16.42
Short Term Liquidity
Current Ratio	2.36	2.28	2.26	1.96	1.88
Quick Ratio	2	1.86	1.89	1.48	1.46
Operating Cash Flow to Current Liabilities	0.34	0.15	0.35	0.13	0.29
Days Sales Outstanding (Average Receivables)	60.12	61.05	57.42	58.81	57.98
Days Outstanding Inventory (Average Inventory)	21.42	21.53	19.6	23.34	22.23
Average Days Payable Outstanding	51.63	50.89	53.51	53.3	60.51
Cash Conversion Cycle (Average Days)	29.91	31.7	23.51	28.86	19.7
Long Term Solvency
Total Debt/Equity	2.93	2.62	2.11	2.01	1.8
Total Debt / Total Capital	2.85	2.55	2.06	1.97	1.77
LT Debt/Equity	1.06	0.44	0.84	0.68	0.3
Long-Term Debt / Total Capital	1.03	0.43	0.82	0.67	0.29
Total Liabilities / Total Assets	37.94	38.29	38.24	44.32	45.2
EBIT / Interest Expense	1.27K	1.27K	1.54K	1.35K	1.34K
EBITDA / Interest Expense	1.45K	1.47K	1.73K	1.5K	1.48K
(EBITDA - Capex) / Interest Expense	1.33K	1.44K	1.63K	1.44K	1.42K
Total Debt / EBITDA	0.14	0.13	0.1	0.09	0.07
Net Debt / EBITDA	-3.07	-3.07	-3.12	-2.67	-2.47
Total Debt / (EBITDA - Capex)	0.15	0.14	0.11	0.09	0.08
Net Debt / (EBITDA - Capex)	-3.34	-3.14	-3.31	-2.78	-2.58
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.86	1.07	13.51	13.33	19.42
Gross Profit, 1 Yr. Growth %	1.82	4.11	10.76	10.05	12.34
EBITDA, 1 Yr. Growth %	-0.16	-1.18	12.42	16.58	20.12
EBITA, 1 Yr. Growth %	-0.86	-1.9	14.95	17.87	21.19
EBIT, 1 Yr. Growth %	-0.86	-1.9	14.95	17.87	21.19
Earnings From Cont. Operations, 1 Yr. Growth %	1.66	0.1	18.71	12.76	20.24
Net Income, 1 Yr. Growth %	1.57	0.24	18.55	12.71	20.24
Normalized Net Income, 1 Yr. Growth %	-0.09	-1.48	13.67	17.72	20.54
Diluted EPS Before Extra, 1 Yr. Growth %	1.57	0.24	18.56	12.71	19.9
Accounts Receivable, 1 Yr. Growth %	-6.36	12.24	1.87	29.4	9.27
Inventory, 1 Yr. Growth %	-20.75	27.99	-14.71	94.63	-24.75
Net Property, Plant and Equip., 1 Yr. Growth %	4.09	-4.97	-3.24	0.69	2.54
Total Assets, 1 Yr. Growth %	3.17	7.56	7.42	19.95	8.21
Tangible Book Value, 1 Yr. Growth %	7.89	7.32	7.72	7.18	3.77
Common Equity, 1 Yr. Growth %	7.71	6.91	7.43	8.07	6.34
Cash From Operations, 1 Yr. Growth %	78.09	-49.55	145.41	-47.37	144.54
Capital Expenditures, 1 Yr. Growth %	75.19	-75.99	219.46	-19.37	35.9
Levered Free Cash Flow, 1 Yr. Growth %	135.15	-57.77	199.69	-62.54	226.72
Unlevered Free Cash Flow, 1 Yr. Growth %	134.95	-57.73	199.39	-62.49	226.37
Dividend Per Share, 1 Yr. Growth %	0	8.7	8	11.11	20
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-1.97	1.47	7.11	13.42	16.34
Gross Profit, 2 Yr. CAGR %	-0.87	2.96	7.38	10.4	11.19
EBITDA, 2 Yr. CAGR %	-4.13	-0.67	5.4	14.48	18.34
EBITA, 2 Yr. CAGR %	-5.25	-1.38	6.19	16.41	19.52
EBIT, 2 Yr. CAGR %	-5.25	-1.38	6.19	16.41	19.52
Earnings From Cont. Operations, 2 Yr. CAGR %	-4.05	0.88	9.01	15.7	16.44
Net Income, 2 Yr. CAGR %	-4.19	0.9	9.01	15.6	16.41
Normalized Net Income, 2 Yr. CAGR %	-5.11	-0.79	5.82	15.68	19.12
Diluted EPS Before Extra, 2 Yr. CAGR %	-4.19	0.9	9.01	15.6	16.25
Accounts Receivable, 2 Yr. CAGR %	-4.71	2.52	6.93	14.82	18.91
Inventory, 2 Yr. CAGR %	0.7	0.71	4.48	28.84	21.02
Net Property, Plant and Equip., 2 Yr. CAGR %	2.42	-0.55	-4.11	-1.3	1.61
Total Assets, 2 Yr. CAGR %	2.61	5.34	7.49	13.51	13.93
Tangible Book Value, 2 Yr. CAGR %	7.5	7.61	7.52	7.45	5.46
Common Equity, 2 Yr. CAGR %	7.33	7.31	7.17	7.75	7.2
Cash From Operations, 2 Yr. CAGR %	8.94	-5.21	11.27	13.65	13.45
Capital Expenditures, 2 Yr. CAGR %	55.49	-35.15	-12.43	60.49	4.68
Levered Free Cash Flow, 2 Yr. CAGR %	4.46	-0.34	12.5	5.09	10.63
Unlevered Free Cash Flow, 2 Yr. CAGR %	4.45	-0.35	12.49	5.1	10.64
Dividend Per Share, 2 Yr. CAGR %	2.25	4.26	8.35	9.54	15.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.88	-0.97	5.33	9.15	15.39
Gross Profit, 3 Yr. CAGR %	3.88	0.77	5.5	8.26	11.04
EBITDA, 3 Yr. CAGR %	5.4	-3.15	3.51	9	16.33
EBITA, 3 Yr. CAGR %	5.12	-4.15	3.79	9.95	17.98
EBIT, 3 Yr. CAGR %	5.12	-4.15	3.79	9.95	17.98
Earnings From Cont. Operations, 3 Yr. CAGR %	6	-2.69	6.5	10.24	17.19
Net Income, 3 Yr. CAGR %	5.92	-2.74	6.47	10.23	17.12
Normalized Net Income, 3 Yr. CAGR %	5.21	-3.91	3.81	9.65	17.27
Diluted EPS Before Extra, 3 Yr. CAGR %	5.92	-2.74	6.47	10.23	17.01
Accounts Receivable, 3 Yr. CAGR %	0.87	0.64	2.3	13.95	12.94
Inventory, 3 Yr. CAGR %	8.39	9.08	-4.71	28.56	7.7
Net Property, Plant and Equip., 3 Yr. CAGR %	0.97	-0.1	-1.45	-2.54	-0.03
Total Assets, 3 Yr. CAGR %	6.13	4.24	6.03	11.49	11.71
Tangible Book Value, 3 Yr. CAGR %	9.42	7.44	7.64	7.4	6.2
Common Equity, 3 Yr. CAGR %	9.15	7.19	7.35	7.47	7.28
Cash From Operations, 3 Yr. CAGR %	14.41	-15.72	30.15	-13.3	46.72
Capital Expenditures, 3 Yr. CAGR %	28.78	-16.59	10.34	-14.81	51.84
Levered Free Cash Flow, 3 Yr. CAGR %	17.36	-22.76	43.84	-22.45	53.38
Unlevered Free Cash Flow, 3 Yr. CAGR %	17.35	-22.74	43.79	-22.42	53.33
Dividend Per Share, 3 Yr. CAGR %	10.6	4.35	5.49	9.26	12.92
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.77	4.49	5.16	4.55	9.6
Gross Profit, 5 Yr. CAGR %	4.78	4.21	5.27	4.51	7.74
EBITDA, 5 Yr. CAGR %	6.92	4.53	5.4	3.55	9.21
EBITA, 5 Yr. CAGR %	7.06	4.29	5.55	3.6	9.82
EBIT, 5 Yr. CAGR %	7.06	4.29	5.55	3.6	9.82
Earnings From Cont. Operations, 5 Yr. CAGR %	8.52	4.89	7.19	4.29	10.37
Net Income, 5 Yr. CAGR %	8.4	4.87	7.15	4.22	10.34
Normalized Net Income, 5 Yr. CAGR %	6.99	4.46	5.46	3.49	9.68
Diluted EPS Before Extra, 5 Yr. CAGR %	8.4	4.87	7.15	4.22	10.28
Accounts Receivable, 5 Yr. CAGR %	4.32	4.54	3.25	6.08	8.65
Inventory, 5 Yr. CAGR %	5.63	11.01	6.81	16.59	4.85
Net Property, Plant and Equip., 5 Yr. CAGR %	-0.74	-0.96	-1.09	-0.58	-0.24
Total Assets, 5 Yr. CAGR %	7.18	6.58	6.67	7.85	9.12
Tangible Book Value, 5 Yr. CAGR %	9.64	8.63	8.66	7.44	6.76
Common Equity, 5 Yr. CAGR %	9.49	8.45	8.35	7.41	7.29
Cash From Operations, 5 Yr. CAGR %	19.32	-4.18	13.14	-5.01	23.2
Capital Expenditures, 5 Yr. CAGR %	29.82	-3.28	10.37	8.37	8.04
Levered Free Cash Flow, 5 Yr. CAGR %	22.11	-7.71	15.39	-12.64	29.08
Unlevered Free Cash Flow, 5 Yr. CAGR %	22.07	-7.7	15.38	-12.62	29.06
Dividend Per Share, 5 Yr. CAGR %	15.9	12.3	9.69	6.4	9.37