Overview
Textiles and Apparels

HOGY MEDICAL CO.,LTD.

Hogy Medical is a Japanese manufacturer and distributor of medical consumables, medical devices, and medical nonwoven fabric products. The company's key offerings include Premium Kits (surgical procedure kits), nonwoven fabric products, sterilization bags (Mekkin Bag), and REVICE brand products targeted at healthcare institutions. The company leverages an integrated manufacturing and sales model, with production facilities in Indonesia and sales operations across ASEAN markets.

Market Cap
¥144B
US$913M
EV
¥131B
US$833M
Stock¥6,660▲+0.00%
US$1 = ¥157.25 (2026-10-30)
LTM EV/EBITDA
16.5
x
LTM EV/EBIT
52.6
x
LTM PER
646.8
x
LTM PBR
1.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+6.1%pt
100
Nov 4, 25 – May 14, 26StockTOPIX
MC → EV Bridge
144BUS$913MMarket Cap12.2BUS$77.4M+ Debt18.3BUS$116M− Cash6.47BUS$41.1M− Inv. Sec.0.01BUS$0.05M+ NCI131BUS$833MEV
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Performance & Balance
Revenue 5Y (¥B)
36.8US$234M'22/339.0US$248M'23/339.1US$249M'24/339.1US$249M'25/3
EBITDA 5Y (¥B)
10.3US$65.2M'22/310.3US$65.2M'23/310.8US$68.5M'24/39.55US$60.7M'25/3
Net Income 5Y (¥B)
4.37US$27.8M'22/34.32US$27.4M'23/32.80US$17.8M'24/31.52US$9.67M'25/3
Capital Structure
86%
EquityD/E 0.16xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
22.5US$143M9.67US$61.5M'22/327.1US$172M7.67US$48.8M'23/328.6US$182M5.67US$36.0M'24/328.0US$178M13.7US$86.9M'25/3'26/3
Shareholders
Top 10 hold 52.2%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.14%
2
NIPPON ACTIVE VALUE FUND PLC (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
8.96%
3
STATE STREET BANK AND TRUST COMPANY 505012 (Standing Proxy: Mizuho Bank, Ltd., Settlement & Clearing Services Department)
5.94%
4
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd., Settlement & Clearing Services Department)
4.53%
5
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd., Settlement & Clearing Services Department)
4.45%
6
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
3.17%
7
STATE STREET BANK AND TRUST COMPANY 505025 (Standing Proxy: Mizuho Bank, Ltd., Settlement & Clearing Services Department)
2.79%
8
Custody Bank of Japan, Ltd. (Trust Account)
2.76%
9
NAVF SELECT LLC (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.75%
10
THE BANK OF NEW YORK - JASDEC TREATY ACCOUNT (Standing Proxy: Mizuho Bank, Ltd., Settlement & Clearing Services Department)
2.70%
Management
5 officers
Hideki KAWAKUBO
Representative Director, President and Chief Executive Officer (CEO)
Apr 1996 Joined Yamanouchi Pharmaceutical Co., Ltd. (now Astellas Pharma Inc.) Oct 2007 Manager, IR Group, Public Relations Department, Astellas Pharma Inc. Oct 2012 Manager, Corporate Planning Department, Astellas Pharma Inc. Feb 2015 Joined USJ Co., Ltd.; Deputy General Manager, General Affairs Department, Human Resources and General Affairs Division Apr 2016 Joined Dexerials Corporation; Senior Manager, IR Department, Corporate Planning Division Apr 2018 Joined the Company; General Manager, Corporate Planning Department Jul 2018 Executive Officer; General Manager, Corporate Planning Department, the Company Aug 2018 Director, Hogy Medical Asia Pacific Pte. Ltd. May 2019 Executive Officer; General Manager, Corporate Planning Department and Sales Administration Department, the Company Jun 2020 Executive Officer; General Manager, Administration Division, Corporate Planning Department, Sales Administration Department and Administration Department, the Company Jun 2021 Director; General Manager, Administration Division, Corporate Planning Department, Administration Department and Sales Administration Department, the Company Sep 2021 Director; General Manager, Administration Division, Corporate Planning Department and Administration Department, the Company Apr 2024 Representative Director, President, the Company (current)
1971-02-06
Taisuke FUJITA
Representative Director, Executive Vice President and Chief Financial Officer (CFO)
Oct 1991 Joined Tohmatsu Audit Corporation (now Deloitte Tohmatsu LLC) Nov 2000 Joined Morgan Stanley Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Jun 2002 Joined Sparx Asset Management Co., Ltd. (formerly Sparx Asset Management Investment Trust Co., Ltd.); Manager, Value Creation Investment Group Mar 2006 Joined Taiyo Pacific Partners LP; Director, Portfolio Management Group Feb 2012 Chief Executive Officer, Unleash Capital Pte. Ltd. Dec 2012 Joined Orbis Investments Management Ltd.; Leader, Japan Entry Project Sep 2014 Chief Operating Officer, Asian Energy Investments Pte. Ltd. May 2016 Joined Amundi Japan Ltd.; General Manager, Equity Management Department Jun 2020 Representative, Office Fujita Jul 2020 Outside Director, Konoike Transport Co., Ltd. (current) Jun 2022 Outside Director, the Company Feb 2023 Representative Member, Fujitaya Binbin LLC (current) Jun 2024 Director, the Company Aug 2024 Director; General Manager, Management Administration Division, the Company Jun 2025 Representative Director, Executive Vice President, the Company (current)
1970-07-11
Mime EGAMI
Director, Audit and Supervisory Committee Member
Apr 1981 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Nov 1984 Joined Citibank, N.A., Tokyo Branch, Capital Markets Division Apr 1992 Joined Wood Gundy Securities Co., Ltd. (now CIBC Securities Co., Ltd.), Tokyo Branch; Head of Capital Markets Division Nov 1998 Joined ABN AMRO Bank, Tokyo Branch; Head of Healthcare Department, Corporate Banking Division Nov 2005 Visiting Professor, School of Medicine, Tohoku University Aug 2006 Visiting Professor, Institute of Advanced Biomedical Engineering and Science, Tokyo Women's Medical University Oct 2015 Auditor, New Energy and Industrial Technology Development Organization Oct 2015 Adjunct Professor, Department of Molecular Pharmaceutics, College of Pharmacy, University of Utah (current) Mar 2017 Executive Director, General Incorporated Association for the Promotion of Cell Sheet Regenerative Medicine (current) Jun 2023 Outside Director, OBIC Co., Ltd. (current) Jun 2024 Director, Audit and Supervisory Committee Member, the Company (current)
1957-09-14
Katsusuke HIGUCHI
Director, Audit and Supervisory Committee Member
Dec 2005 Joined Chuo Aoyama Audit Corporation Jul 2006 Joined Arata Audit Corporation (now PricewaterhouseCoopers Japan LLC) Jul 2009 Registered as Certified Public Accountant Jul 2010 Joined PricewaterhouseCoopers K.K. (now PwC Consulting LLC) Jan 2014 Representative, Katsusuke Higuchi Certified Public Accountant Office (current) Jun 2014 Registered as Certified Tax Accountant Jun 2016 Representative Director, Suji wa Mikata Co., Ltd. (current) Jun 2024 Director, Audit and Supervisory Committee Member, the Company (current)
1981-01-20
Yuji TAKADA
Director, Audit and Supervisory Committee Member
Oct 2003 Registered as Attorney-at-Law; joined Momo-o, Matsuo & Namba Law Offices Dec 2004 Joined Nagashima Ohno & Tsunematsu Aug 2013 Joined Shimada Law Office Jan 2015 Partner, Shimada Law Office (current) Dec 2018 Outside Director, Audit and Supervisory Committee Member, Freak Out Holdings, Inc. (current) Jun 2023 Audit & Supervisory Board Member, the Company Jun 2024 Director, Audit and Supervisory Committee Member, the Company (current)
1980-01-27
Large Shareholding Reports
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14.29%→15.06%
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2024-03-07
5.58%→5.60%
Dalton Investments, Inc.
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Dalton Investments, Inc.
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5.58%
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Disclosures
No disclosures
Primary Source Filings
EDINET
2026-03-09
Large Shareholding Report
TDnet
2026-01-29
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-24
Large Shareholding Report
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-25
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Large Shareholding Report
EDINET
2025-06-19
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-06-05
Large Shareholding Report
EDINET
2025-04-08
Large Shareholding Report
EDINET
2025-02-07
Large Shareholding Report
EDINET
2025-01-16
Large Shareholding Report
TDnet
2025-01-16
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2025-01-10
Large Shareholding Report
EDINET
2024-11-22
Large Shareholding Report
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2024-10-31
Large Shareholding Report
EDINET
2024-08-22
Large Shareholding Report
EDINET
2024-08-05
Large Shareholding Report
TDnet
2024-07-10
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-07-09
Large Shareholding Report
EDINET
2024-07-08
Large Shareholding Report
EDINET
2024-07-03
Large Shareholding Report
EDINET
2024-07-01
Large Shareholding Report
EDINET
2024-06-20
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-18
Large Shareholding Report
EDINET
2024-05-07
Large Shareholding Report
EDINET
2024-03-07
Large Shareholding Report
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2024-02-08
Large Shareholding Report
EDINET
2024-01-11
Large Shareholding Report
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