Balance Sheet Otsuka Holdings Co., Ltd.

Equities

4578

JP3188220002

Pharmaceuticals

Delayed Japan Exchange Other stock markets 06:30:00 10/02/2026 GMT			5-day change	1st Jan Change
9,857.00 ^JPY	+2.56%		+5.15%	+11.09%

02-04	Biodexa announces exclusive license of Otsuka's OPB-171775, a potent phase 1 ready molecular glue for GIST	RE
02-04	HBM Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended December 31, 2025	CI

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Published financial data: OTSUKA HOLDINGS CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1,423B	1,498B	1,738B	2,019B	2,330B
Total Revenues	1,423B	1,498B	1,738B	2,019B	2,330B
Cost of Goods Sold, Total	440B	495B	570B	611B	660B
Gross Profit	983B	1,003B	1,168B	1,407B	1,669B
Selling General & Admin Expenses, Total	562B	622B	724B	807B	958B
R&D Expenses	217B	232B	275B	308B	314B
Depreciation & Amortization - (IS)	-	-	-	-	-
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	-7.8B	2.04B	431M	521M	-18.15B
Other Operating Expenses, Total	771B	857B	1T	1,116B	1,254B
Operating Income	212B	147B	169B	292B	415B
Interest Expense, Total	-10.96B	-2.61B	-3.32B	-6.52B	-6.18B
Interest And Investment Income	3.66B	2.76B	3.93B	9.57B	9.88B
Net Interest Expenses	-7.3B	148M	607M	3.04B	3.7B
Income (Loss) On Equity Invest.	13.09B	8.51B	5.78B	20.36B	33.61B
Currency Exchange Gains (Loss)	-	10.69B	22.15B	-	8.68B
Other Non Operating Income (Expenses)	-2M	-99M	712M	-4M	2.94B
EBT, Excl. Unusual Items	217B	166B	198B	315B	464B
Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-12.71B	-
Gain (Loss) On Sale Of Investments	-	4.77B	14.69B	-	44M
Gain (Loss) On Sale Of Assets	-	93M	1.9B	-	-429M
Asset Writedown	-26.11B	-7.05B	-41.59B	-160B	-128B
Other Unusual Items	-1.3B	-	-	-	-
EBT, Incl. Unusual Items	190B	164B	173B	143B	336B
Income Tax Expense	38.25B	34.43B	35.53B	17.16B	-11.42B
Earnings From Continuing Operations	152B	129B	137B	125B	347B
Net Income to Company	152B	129B	137B	125B	347B
Minority Interest	-3.6B	-3.74B	-3.4B	-3.88B	-4.15B
Net Income - (IS)	148B	125B	134B	122B	343B
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	148B	125B	134B	122B	343B
Net Income to Common Excl. Extra Items	148B	125B	134B	122B	343B
Per Share Items
Net EPS - Basic	273.15	231.32	247.01	224.1	633.77
Basic EPS - Continuing Operations	273.15	231.32	247.01	224.1	633.77
Basic Weighted Average Shares Outstanding	542M	542M	543M	543M	541M
Net EPS - Diluted	273.15	231.15	246.99	224.1	633.77
Diluted EPS - Continuing Operations	273.15	231.15	246.99	224.1	633.77
Diluted Weighted Average Shares Outstanding	542M	542M	543M	543M	541M
Normalized Basic EPS	243.9	184.18	221.77	355.71	527.91
Normalized Diluted EPS	243.9	184.18	221.77	355.71	527.91
Dividend Per Share	100	100	100	110	120
Payout Ratio	-	44.62	41.46	-	19.46
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	291B	231B	262B	385B	523B
EBITA	212B	147B	169B	292B	415B
EBIT	212B	147B	169B	292B	415B
Effective Tax Rate - (Ratio)	20.14	21.04	20.55	12.03	-3.4
Normalized Net Income	132B	99.89B	120B	193B	286B
Non-Cash Pension Expense	-	7.42B	9.31B	-	12.94B
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	217B	232B	275B	308B	314B

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	357B	411B	472B	513B	426B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	357B	411B	472B	513B	426B
Accounts Receivable, Total	379B	380B	423B	474B	515B
Other Receivables	3.28B	8.54B	2.95B	19.61B	3.53B
Total Receivables	382B	389B	426B	494B	519B
Inventory	174B	180B	224B	250B	298B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	90.66B	69.62B	70.51B	70.18B	124B
Total Current Assets	1,004B	1,049B	1,192B	1,327B	1,367B
Gross Property Plant And Equipment	-	-	-	1,433B	-
Accumulated Depreciation	-	-	-	-879B	-
Net Property Plant And Equipment	462B	487B	511B	553B	629B
Long-term Investments	208B	434B	431B	279B	544B
Goodwill	263B	296B	335B	379B	449B
Other Intangibles, Total	457B	523B	580B	491B	544B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	21.53B	31.94B	53.46B	119B	206B
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	212B	3M	4M	214B	5M
Total Assets	2,628B	2,821B	3,103B	3,361B	3,739B
Liabilities
Accounts Payable, Total	165B	170B	198B	206B	220B
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	-	9B	15.35B	-	6.07B
Current Portion of Long-Term Debt	28.69B	23.88B	11.09B	69.42B	1.28B
Current Portion of Leases	15.51B	17.1B	17.72B	18.85B	21.15B
Current Income Taxes Payable	14.74B	10.49B	28.34B	54.94B	29.25B
Unearned Revenue Current, Total	12.64B	-	-	14.32B	-
Other Current Liabilities	180B	237B	268B	303B	355B
Total Current Liabilities	416B	468B	539B	667B	633B
Long-Term Debt	125B	103B	93.77B	69.2B	87.28B
Long-Term Leases	57.31B	59.73B	56.23B	56.72B	73.61B
Unearned Revenue Non Current	69.16B	-	-	44.87B	-
Pension & Other Post Retirement Benefits	16.72B	14.08B	16.01B	16.56B	12.56B
Deferred Tax Liability Non Current	25.46B	27.56B	29.41B	27.17B	28.8B
Other Non Current Liabilities	34.94B	104B	106B	43.18B	126B
Total Liabilities	744B	776B	840B	925B	961B
Common Stock, Total	81.69B	81.69B	81.69B	81.69B	81.69B
Additional Paid In Capital	506B	507B	507B	506B	478B
Retained Earnings	1,403B	1,482B	1,553B	1,621B	1,904B
Treasury Stock	-45.78B	-45.57B	-44.86B	-44.67B	-67.4B
Comprehensive Income and Other	-92.47B	-14.04B	129B	229B	336B
Total Common Equity	1,852B	2,011B	2,225B	2,394B	2,734B
Minority Interest	31.06B	34.2B	37.14B	42.63B	44.58B
Total Equity	1,883B	2,045B	2,263B	2,436B	2,778B
Total Liabilities And Equity	2,628B	2,821B	3,103B	3,361B	3,739B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	542M	542M	543M	543M	537M
ECS Total Common Shares Outstanding	542M	-	543M	543M	537M
Book Value / Share	3.42K	3.71K	4.1K	4.41K	5.09K
Tangible Book Value	1,132B	1,193B	1,310B	1,524B	1,740B
Tangible Book Value Per Share	2.09K	2.2K	2.41K	2.81K	3.24K
Total Debt	226B	212B	194B	214B	189B
Net Debt	-131B	-198B	-277B	-299B	-237B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-24.08B	-42.29B	-	-112B
Minority Interest, Total (Incl. Fin. Div)	31.06B	34.2B	37.14B	42.63B	44.58B
Equity Method Investments, Total	208B	228B	242B	279B	315B
Account Code - Inventory Valuation	6	-	-	6	-
Inventories - Raw Materials, Total	-	53.62B	66.53B	-	99.07B
Inventories - Work In Process, Total	-	37.94B	46.84B	-	62.52B
Inventories - Finished Goods, Total	-	88.78B	110B	-	137B
Inventories - Others	-	1M	2M	-	3M
Full Time Employees	33.15K	33.23K	33.48K	34.39K	35.34K
Accumulated Allowance for Doubtful Accounts (Supple)	1.86B	2.04B	2.78B	3.88B	5.58B

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-	164B	173B	-	336B
Depreciation & Amortization - CF	-	84.86B	93.76B	-	108B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	-	84.86B	93.76B	-	108B
(Gain) Loss From Sale Of Asset	-	6.48B	41.52B	-	126B
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-8.51B	-5.78B	-	-33.61B
Other Operating Activities, Total	-	-54.66B	-48.59B	-	-105B
Change In Accounts Receivable	-	13.32B	-22.48B	-	-9.51B
Change In Inventories	-	6.5B	-21.7B	-	-38.58B
Change In Accounts Payable	-	-12.16B	1.39B	-	-14.64B
Change in Other Net Operating Assets	-	29.4B	773M	-	-14.38B
Cash from Operations	-	229B	212B	-	355B
Capital Expenditure	-	-52.45B	-60.95B	-	-95.56B
Sale of Property, Plant, and Equipment	-	1.7B	3.7B	-	689M
Cash Acquisitions	-	-8.04B	-	-	-116B
Divestitures	-	-	8.32B	-	-
Sale (Purchase) of Intangible assets	-	-60.7B	-46.84B	-	-33.8B
Investment in Marketable and Equity Securities, Total	-	22.08B	14.6B	-	-22.47B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-	2.12B	-412M	-	904M
Cash from Investing	-	-95.29B	-81.58B	-	-266B
Short Term Debt Issued, Total	-	10M	4.44B	-	-
Long-Term Debt Issued, Total	-	220M	1.07B	-	20.15B
Total Debt Issued	-	230M	5.51B	-	20.15B
Short Term Debt Repaid, Total	-	-	-	-	-41.07B
Long-Term Debt Repaid, Total	-	-21.13B	-25.67B	-	-26.22B
Total Debt Repaid	-	-21.13B	-25.67B	-	-67.29B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-1M	-	-	-50.02B
Common Dividends Paid	-	-55.98B	-55.56B	-	-66.76B
Common & Preferred Stock Dividends Paid	-	-55.98B	-55.56B	-	-66.76B
Other Financing Activities, Total	-	-18.96B	-19.75B	-	-25.44B
Cash from Financing	-	-95.84B	-95.47B	-	-189B
Foreign Exchange Rate Adjustments	-	16.1B	26.15B	-	13.35B
Miscellaneous Cash Flow Adjustments	-	-	-1M	-	-
Net Change in Cash	-	53.83B	60.95B	-	-87.17B
Supplemental Items
Cash Interest Paid	-	2.66B	3.46B	-	6.46B
Cash Income Tax Paid (Refund)	-	52.14B	35.25B	-	111B
Levered Free Cash Flow	-	116B	84.8B	-	132B
Unlevered Free Cash Flow	-	117B	86.87B	-	136B
Change In Net Working Capital	-3.38B	-54.05B	4.54B	9.14B	102B
Net Debt Issued / Repaid	-	-20.9B	-20.16B	-	-47.14B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	5.08	3.36	3.56	5.64	7.31
Return on Total Capital	6.36	4.2	4.47	7.14	9.23
Return On Equity %	8.25	6.58	6.38	5.34	13.32
Return on Common Equity	8.19	6.5	6.33	5.27	13.38
Margin Analysis
Gross Profit Margin %	69.09	66.96	67.23	69.72	71.65
SG&A Margin	39.53	41.54	41.66	40	41.13
EBITDA Margin %	20.45	15.45	15.1	19.09	22.45
EBITA Margin %	14.87	9.78	9.71	14.45	17.81
EBIT Margin %	14.87	9.78	9.71	14.45	17.81
Income From Continuing Operations Margin %	10.66	8.62	7.91	6.22	14.91
Net Income Margin %	10.41	8.37	7.71	6.02	14.73
Net Avail. For Common Margin %	10.41	8.37	7.71	6.02	14.73
Normalized Net Income Margin	9.3	6.67	6.92	9.56	12.27
Levered Free Cash Flow Margin	-	7.72	4.88	-	5.67
Unlevered Free Cash Flow Margin	-	7.83	5	-	5.83
Asset Turnover
Asset Turnover	0.55	0.55	0.59	0.62	0.66
Fixed Assets Turnover	3.11	3.16	3.48	3.79	3.94
Receivables Turnover (Average Receivables)	3.65	3.95	4.33	4.5	4.71
Inventory Turnover (Average Inventory)	2.63	2.8	2.82	2.58	2.41
Short Term Liquidity
Current Ratio	2.41	2.24	2.21	1.99	2.16
Quick Ratio	1.78	1.71	1.67	1.51	1.49
Operating Cash Flow to Current Liabilities	-	0.49	0.39	-	0.56
Days Sales Outstanding (Average Receivables)	100.39	92.49	84.38	81.14	77.71
Days Outstanding Inventory (Average Inventory)	138.92	130.57	129.42	141.26	151.81
Average Days Payable Outstanding	133.85	121.92	109.76	115.9	110.03
Cash Conversion Cycle (Average Days)	105.46	101.14	104.05	106.5	119.49
Long Term Solvency
Total Debt/Equity	12	10.39	8.58	8.79	6.82
Total Debt / Total Capital	10.72	9.41	7.9	8.08	6.38
LT Debt/Equity	9.66	7.94	6.63	5.17	5.79
Long-Term Debt / Total Capital	8.62	7.2	6.11	4.75	5.42
Total Liabilities / Total Assets	28.33	27.5	27.08	27.52	25.7
EBIT / Interest Expense	19.31	56.1	50.78	44.71	67.13
EBITDA / Interest Expense	26.55	88.57	79.01	59.08	84.6
(EBITDA - Capex) / Interest Expense	26.55	68.5	60.66	59.08	69.14
Total Debt / EBITDA	0.78	0.92	0.74	0.56	0.36
Net Debt / EBITDA	-0.45	-0.86	-1.06	-0.78	-0.45
Total Debt / (EBITDA - Capex)	0.78	1.19	0.96	0.56	0.44
Net Debt / (EBITDA - Capex)	-0.45	-1.11	-1.38	-0.78	-0.55
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.9	5.3	16	16.14	15.42
Gross Profit, 1 Yr. Growth %	4.04	2.05	16.47	20.44	18.62
EBITDA, 1 Yr. Growth %	16.35	-20.48	13.41	37.72	35.71
EBITA, 1 Yr. Growth %	21.31	-30.73	15.1	56.76	42.29
EBIT, 1 Yr. Growth %	21.31	-30.73	15.1	56.76	42.29
Earnings From Cont. Operations, 1 Yr. Growth %	15.66	-14.85	6.35	-8.58	176.71
Net Income, 1 Yr. Growth %	16.5	-15.31	6.82	-9.18	182.13
Normalized Net Income, 1 Yr. Growth %	17.23	-24.48	20.45	47.73	48.06
Diluted EPS Before Extra, 1 Yr. Growth %	16.46	-15.37	6.85	-9.2	182.81
Accounts Receivable, 1 Yr. Growth %	-5.56	0.29	11.37	11.96	8.69
Inventory, 1 Yr. Growth %	8.65	3.75	23.93	11.67	19.52
Net Property, Plant and Equip., 1 Yr. Growth %	1.93	5.4	4.84	8.36	13.59
Total Assets, 1 Yr. Growth %	1.8	7.35	9.99	8.34	11.25
Tangible Book Value, 1 Yr. Growth %	11.78	5.33	9.86	16.31	14.19
Common Equity, 1 Yr. Growth %	4.87	8.56	10.66	7.57	14.2
Cash From Operations, 1 Yr. Growth %	-	-	-7.44	-	-
Capital Expenditures, 1 Yr. Growth %	-	-	16.2	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-26.73	-	-
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-25.98	-	-
Dividend Per Share, 1 Yr. Growth %	-	0	0	-	9.09
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.94	3.59	10.52	16.07	15.78
Gross Profit, 2 Yr. CAGR %	7.53	3.04	9.02	18.44	19.53
EBITDA, 2 Yr. CAGR %	36.45	-3.81	-5.03	27.43	36.71
EBITA, 2 Yr. CAGR %	47.67	-8.33	-10.71	38.31	49.35
EBIT, 2 Yr. CAGR %	47.67	-8.33	-10.71	38.31	49.35
Earnings From Cont. Operations, 2 Yr. CAGR %	33.3	-0.76	-4.83	-1.45	59.05
Net Income, 2 Yr. CAGR %	34.01	-0.67	-4.88	-1.55	60.07
Normalized Net Income, 2 Yr. CAGR %	38.65	-5.91	-4.62	37.18	47.89
Diluted EPS Before Extra, 2 Yr. CAGR %	34.38	-0.73	-4.91	-1.54	60.25
Accounts Receivable, 2 Yr. CAGR %	0.08	-2.68	5.68	11.67	10.32
Inventory, 2 Yr. CAGR %	5.18	6.17	13.39	17.64	15.52
Net Property, Plant and Equip., 2 Yr. CAGR %	8.36	3.65	5.12	6.59	10.94
Total Assets, 2 Yr. CAGR %	3.01	4.54	8.66	9.16	9.78
Tangible Book Value, 2 Yr. CAGR %	9.96	8.5	7.57	13.03	15.24
Common Equity, 2 Yr. CAGR %	4.25	6.7	9.61	9.1	10.83
Cash From Operations, 2 Yr. CAGR %	-	9	-	-	29.38
Capital Expenditures, 2 Yr. CAGR %	-	3.89	-	-	25.21
Levered Free Cash Flow, 2 Yr. CAGR %	-	-4.44	-	-	18.54
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-5.5	-	-	17.91
Dividend Per Share, 2 Yr. CAGR %	0	-	0	4.88	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.69	5.06	7.57	12.36	15.85
Gross Profit, 3 Yr. CAGR %	6.34	5.67	7.33	12.7	18.5
EBITDA, 3 Yr. CAGR %	18.27	20.24	1.62	9.81	31.23
EBITA, 3 Yr. CAGR %	23.01	25.66	-1.11	11.29	41.47
EBIT, 3 Yr. CAGR %	23.01	25.66	-1.11	11.29	41.47
Earnings From Cont. Operations, 3 Yr. CAGR %	9.88	14.8	1.56	-6.13	39.04
Net Income, 3 Yr. CAGR %	9.61	15	1.77	-6.36	39.84
Normalized Net Income, 3 Yr. CAGR %	17.8	22.2	2.17	13.43	41.96
Diluted EPS Before Extra, 3 Yr. CAGR %	9.68	15.18	1.74	-6.38	39.96
Accounts Receivable, 3 Yr. CAGR %	1.37	0.15	1.8	7.74	10.67
Inventory, 3 Yr. CAGR %	6.34	4.7	11.79	12.81	18.26
Net Property, Plant and Equip., 3 Yr. CAGR %	6.51	7.36	4.05	6.19	8.87
Total Assets, 3 Yr. CAGR %	1.94	4.43	6.32	8.55	9.85
Tangible Book Value, 3 Yr. CAGR %	1.34	8.39	8.95	10.4	13.42
Common Equity, 3 Yr. CAGR %	1.09	5.67	8.01	8.92	10.77
Cash From Operations, 3 Yr. CAGR %	-	19	3.22	-	15.72
Capital Expenditures, 3 Yr. CAGR %	-	-2.78	7.84	-	22.13
Levered Free Cash Flow, 3 Yr. CAGR %	-	6.44	-12.53	-	4.48
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	6.26	-12.89	-	5
Dividend Per Share, 3 Yr. CAGR %	0	0	-	3.23	6.27
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.31	4.62	6.99	9.33	10.78
Gross Profit, 5 Yr. CAGR %	-0.26	4.92	7.41	10.61	12.06
EBITDA, 5 Yr. CAGR %	5.44	9.76	12.27	19.78	15.89
EBITA, 5 Yr. CAGR %	5	11.33	14.71	24.62	18.93
EBIT, 5 Yr. CAGR %	6.86	11.33	14.71	24.62	18.93
Earnings From Cont. Operations, 5 Yr. CAGR %	13.17	6.72	3.74	8	21.49
Net Income, 5 Yr. CAGR %	11.99	6.27	3.56	8.07	21.96
Normalized Net Income, 5 Yr. CAGR %	5.27	10.14	13.66	22.91	20.43
Diluted EPS Before Extra, 5 Yr. CAGR %	11.98	6.25	3.6	8.18	21.99
Accounts Receivable, 5 Yr. CAGR %	0.02	1.48	3.08	4.61	5.12
Inventory, 5 Yr. CAGR %	3.71	6.16	9.11	9.7	13.27
Net Property, Plant and Equip., 5 Yr. CAGR %	5.33	6.31	5.95	7.05	6.75
Total Assets, 5 Yr. CAGR %	0.77	2.62	4.58	6.3	7.69
Tangible Book Value, 5 Yr. CAGR %	2.27	2.94	3.79	10.22	11.43
Common Equity, 5 Yr. CAGR %	2.28	3.29	4.41	7.03	9.13
Cash From Operations, 5 Yr. CAGR %	-	10.02	15.55	-	12.98
Capital Expenditures, 5 Yr. CAGR %	-	3.4	2.39	-	14.48
Levered Free Cash Flow, 5 Yr. CAGR %	-	-1.49	3.94	-	0.82
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-0.87	3.78	-	0.67
Dividend Per Share, 5 Yr. CAGR %	0	0	0	1.92	-