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Japanese holding company spanning psychiatric/CNS drugs, nutraceuticals (Pocari Sweat) and diagnostics.
Japanese holding company spanning psychiatric/CNS drugs, nutraceuticals (Pocari Sweat) and diagnostics.
Splits into drugs and consumer products. The drugs side earns from selling its own psychiatric and kidney medicines and from marketing partnerships, with Rexulti co-developed with Lundbeck; the consumer side sells Pocari Sweat in Asia and Nature Made vitamins in the US through Pharmavite, which it bought in 2011.
In one line: Part Bristol Myers Squibb, part Gatorade (PepsiCo).
Moat: narrow (brand, IP / patents). Strong CNS drug franchise plus a dominant, decades-old sports-drink brand across Asia.
Headquarters: Tokyo, Japan · Founded: 1921 · Employees: 37,758
Size Otsuka Hldgs (4578.T) is a Japan Health Care company (Pharmaceuticals: Major) with a market value of $38.6B, the 40th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥11,585 on 6 Nov 2026.
Performance Over six months the shares gained 2.3%, against +17.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 11.3% over the last twelve months (peer median +14.0%); the operating margin is 17.8% (peer median 17.9%).
Valuation It trades at 16.3× forward earnings against a peer median of 19.5× (8th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.4 points above its cost of capital (6.4% WACC).
Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.69T | ¥2.47T | ¥2.33T | ¥2.02T | ¥1.74T |
| Revenue growth | — | +6% | +15% | +16% | — |
| Gross profit | ¥1.94T | ¥1.77T | ¥1.67T | ¥1.41T | ¥1.17T |
| EBITDA | ¥602B | ¥529B | ¥505B | ¥390B | ¥263B |
| Net income | ¥388B | ¥363B | ¥343B | ¥122B | ¥134B |
| Free cash flow | ¥319B | ¥316B | ¥259B | ¥192B | ¥151B |
| Capital expenditure | ¥263B | ¥142B | ¥129B | ¥115B | ¥108B |
| Total debt | ¥191B | ¥228B | ¥189B | ¥214B | ¥194B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Otsuka Hldgs 4578.T | $38.6B | +2% | +11% | 18% | 16.3× | 0.4% |
| Takeda Pharmaceutical 4502.T | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% |
| Eisai 4523.T | $8.68B | +4% | +7% | 5% | 24.2× | 11.8% |
| Bristol Myers Squibb BMY | $127B | +12% | +4% | 33% | 9.7× | -12.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 4578.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.1% | +9.4% | 4th lowest of 21 |
| 6-month return | +2.3% | +17.1% | 8th lowest of 21 |
| Distance from 52-week high | -9.5% | -10.0% | 10th highest of 21 |
| Revenue growth (TTM) | +11.3% | +14.0% | 8th lowest of 21 |
| Operating margin | 17.8% | 17.9% | 11th highest of 21 |
| Forward P/E | 16.3× | 19.5× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 0.4% | 9.6% | 3rd least demanding of 19 |
| Growth delivered (Del g) | +11.7% | +8.1% | 7th highest of 19 |
| Hurdle (Req g minus delivered) | -11.2 pp | +2.3 pp | 5th least demanding of 19 |
| ROIC minus cost of capital | +4.4 pp | +4.2 pp | 11th highest of 21 |
| EV / EBITDA | 9.8× | 22.8× | 4th cheapest of 17 |
| Net debt / EBITDA | -0.5× | 1.5× | 6th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Otsuka Hldgs 4578.T | Japan | $38.6B | +2% | +11% | 18% | 16.3× | 0.4% | +11.7% |
| Royalty Pharma RPRX | United States | $38.8B | +33% | +11% | 66% | 11.3× | 9.9% | +2.3% |
| Haleon HLN.L | United Kingdom | $40.1B | +1% | +1% | 23% | 16.3× | 4.6% | +2.2% |
| Biogen BIIB | United States | $36.7B | +28% | +2% | 17% | 16.8× | 9.4% | -5.1% |
| Sandoz SDZ.SW | Switzerland | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% | +0.4% |
| Zoetis ZTS | United States | $32.8B | -4% | +1% | 38% | 12.8× | -4.3% | +7.2% |
| BeOne Medicines 688235.SS | China | $45.8B | +19% | +28% | 15% | 74.5× | 23.3% | +79.3% |
| Daiichi Sankyo 4568.T | Japan | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% | +17.1% |
| Sun Pharmaceutical Industries SUNPHARMA.NS | India | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% | +11.7% |
| Jiangsu Hengrui Pharmaceuticals 1276.HK | Hong Kong | $48.8B | -20% | +11% | 27% | 32.1× | 10.2% | +2.0% |
| Divi's Laboratories DIVISLAB.NS | India | $29.0B | +54% | +16% | 31% | 82.0× | 50.9% | +8.9% |
| Astellas Pharma 4503.T | Japan | $28.2B | +11% | +19% | 23% | 11.6× | -11.0% | +11.4% |
| Roivant Sciences ROIV | United States | $28.1B | +36% | -68% | -18,146% | n/a | n/a | n/a |
| Galderma GALD.SW | Switzerland | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% | +6.4% |
| Hansoh Pharma 3692.HK | Hong Kong | $26.9B | -7% | +25% | 38% | 27.5× | 8.9% | +10.8% |
| Insmed INSM | United States | $25.1B | -16% | +240% | -42% | n/a | n/a | n/a |
| Incyte INCY | United States | $24.4B | +21% | +25% | 12% | 15.4× | 14.2% | +14.0% |
| Bayer BAYN.DE | Germany | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% | +1.9% |
| Viatris VTRS | United States | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% | +3.7% |
| Wuxi Apptec 2359.HK | Hong Kong | $66.3B | +40% | +38% | 44% | 20.4× | 8.7% | +20.4% |
| Sigma Healthcare SIG.AX | Australia | $22.4B | -1% | +209% | 9% | 37.1× | 28.2% | +26.1% |