Overview
Pharmaceutical

SEIKAGAKU CORPORATION

Seikagaku Corporation is a Japanese pharmaceutical company specializing in glycoscience (sugar chain science), focused on the research, development, manufacturing, and sale of pharmaceuticals and LAL (Limulus Amebocyte Lysate) reagents. Its pharmaceutical portfolio includes joint function improvement agents, ophthalmic surgical aids, lumbar disc herniation treatments, endoscopic submucosal injection materials, and active pharmaceutical ingredients (APIs) derived from glycosaminoglycans such as hyaluronic acid and chondroitin sulfate. The company also operates a global LAL business through its subsidiary Associates of Cape Cod, Inc., providing endotoxin and glucan detection reagents used in pharmaceutical quality control worldwide.

Market Cap
¥31.1B
US$198M
EV
¥2.90B
US$18.5M
Stock¥570▼-0.35%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
2.9
x
LTM EV/EBIT
NM
LTM PER
18.7
x
LTM PBR
0.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-37.4%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
31.1BUS$198MMarket Cap0.35BUS$2.25M+ Debt7.31BUS$46.6M− Cash21.3BUS$136M− Inv. Sec.2.90BUS$18.5MEV
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Performance & Balance
Revenue 5Y (¥B)
34.9US$222M'22/333.5US$213M'23/336.2US$231M'24/339.4US$251M'25/336.6US$234M'26/3
EBITDA 5Y (¥B)
5.37US$34.2M'22/33.27US$20.8M'23/31.92US$12.2M'24/33.14US$20.0M'25/31.32US$8.44M'26/3
Net Income 5Y (¥B)
3.73US$23.8M'22/32.24US$14.3M'23/32.19US$13.9M'24/31.21US$7.74M'25/31.47US$9.39M'26/3
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
34.3US$218M0.39US$2.51M'22/336.7US$234M0.39US$2.48M'23/334.2US$218M0.40US$2.53M'24/334.2US$218M0.38US$2.42M'25/324.7US$157M0.36US$2.27M'26/3
Shareholders
Top 10 hold 52.8%
1
Kaiseisha Co., Ltd.
18.53%
2
Shingyo Co., Ltd.
14.36%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
7.53%
4
Custody Bank of Japan, Ltd. (Trust Account)
2.47%
5
KAKEN PHARMACEUTICAL CO.,LTD.
2.21%
6
Seigo NAITO
2.09%
7
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)
1.67%
8
Mizutani Foundation for Glycoscience (Public Interest Account)
1.52%
9
Meiji Yasuda Life Insurance Company
1.26%
10
Haier Co., Ltd.
1.15%
Management
11 officers
Ken MIZUTANI
Representative Director, President
Apr 1970 Joined Mitsubishi Kasei Corporation (now Mitsubishi Chemical Corporation) Sep 1983 Deputy General Manager, Electronic Materials Division, Mitsubishi Kasei Corporation Aug 1988 Joined the Company Jun 1990 Director, General Manager, Reagents and Diagnostics Division Jun 1993 Managing Director, in charge of Planning and Production Jun 1996 Managing Director, in charge of Pharmaceutical and Functional Chemicals Business Jul 1997 Managing Director, in charge of Pharmaceutical, Functional Chemicals and New Business Nov 1997 Managing Director, in charge of Pharmaceutical, Functional Chemicals, New Business and ACC Jun 1998 Managing Director, General Manager, Sales Division Jun 2000 Managing Director, Director, Central Research Laboratory Jun 2002 Representative Director, Senior Managing Director, in charge of Pharmaceutical, Functional Chemicals, Oral Care Business and Glycoforum; Director, Central Research Laboratory Jun 2003 Representative Director, Senior Managing Director, in charge of Pharmaceutical, Functional Chemicals and LAL Strategy; Director, Central Research Laboratory Jun 2004 Representative Director, Senior Managing Director, in charge of Research, Development and Functional Chemicals Sales Jun 2005 Representative Director, President Jun 2014 Representative Director, President; General Manager, Production Division Jan 2015 Representative Director, President Jun 2018 Representative Director, President; General Manager, Production Division Jun 2019 Representative Director, President (current)
1948-03-10
Toshiyuki OKADA
Director, Managing Executive Officer, in charge of Reliability Assurance Division
Apr 1989 Joined Dow Corning Japan Sep 1996 Joined Johnson & Johnson Medical K.K. (now Johnson & Johnson K.K.) Feb 2015 Vice President, Chief Technology Officer, Johnson & Johnson Medical K.K. (regulatory, quality assurance, safety management, R&D, GCP audit, medical affairs, clinical development and post-marketing surveillance, Quality Regulatory Compliance, Professional Education) Sep 2015 Joined the Company as Executive Officer, Deputy in charge of Quality Assurance, Safety Management and Regulatory Audit Oct 2015 Executive Officer, in charge of Quality Assurance, Safety Management and Regulatory Audit Jun 2016 Managing Executive Officer, in charge of Quality Assurance, Safety Management and Regulatory Audit Jan 2017 Managing Executive Officer, General Manager, Sales Division Jun 2017 Director, Managing Executive Officer, General Manager, Sales Division Aug 2017 Director, Managing Executive Officer, General Manager, Sales Division; General Manager, North America Strategy Office Jan 2018 Director, Managing Executive Officer, General Manager, Sales Division; General Manager, Pharmaceutical Sales Department; General Manager, North America Strategy Office Apr 2018 Director, Managing Executive Officer, General Manager, Sales Division; General Manager, Sales Planning Department; General Manager, Pharmaceutical Sales Department; General Manager, Overseas Sales Department; General Manager, North America Strategy Office Jun 2018 Director, Managing Executive Officer, General Manager, Business Promotion Division Jun 2023 Director, Managing Executive Officer, in charge of Reliability Assurance Division (current)
1960-08-27
Yosuke FUNAKOSHI
Director, Senior Executive Officer, General Manager, Research and Development Division
Apr 1990 Joined Ono Pharmaceutical Co., Ltd. Jun 2008 Joined Takeda Pharmaceutical Company Limited Jul 2009 Senior Director, Strategic Development, Takeda Pharmaceuticals International Inc. Aug 2012 Vice President, Strategic Project Management, Takeda Global R&D Center, Inc. (now Takeda Development Center Americas, Inc.) Aug 2014 Joined the Company as Executive Officer, Assistant to General Manager, Research and Development Division Oct 2014 Executive Officer, General Manager, Clinical Development Department, Research and Development Division Jun 2016 Senior Executive Officer, Deputy General Manager, Research and Development Division; General Manager, Clinical Development Department Jun 2017 Senior Executive Officer, General Manager, Research and Development Division; General Manager, Clinical Development Department Jun 2018 Director, Senior Executive Officer, General Manager, Research and Development Division; General Manager, Clinical Development Department Oct 2021 Director, Senior Executive Officer, General Manager, Research and Development Division (current)
1965-11-28
Mio NANGI
Director
Apr 1999 Joined MIT Inc. Oct 2003 Public Prosecutor, Tokyo District Public Prosecutors Office Apr 2004 Public Prosecutor, Osaka District Public Prosecutors Office Apr 2005 Public Prosecutor, Fukuoka District Public Prosecutors Office Apr 2014 Litigation Prosecutor, Fukuoka Legal Affairs Bureau Apr 2016 Public Prosecutor, Tokyo District Public Prosecutors Office Apr 2017 Seconded to Agriculture, Forestry and Fisheries Growth Industry Support Corporation as General Manager, Legal Affairs Department Apr 2019 Registered as attorney-at-law Apr 2019 Joined Nangi & Kitazawa Law Office (current) Jun 2019 Outside Director of the Company (current) Jun 2023 Outside Audit & Supervisory Board Member, Vortex Co., Ltd. (current) Mar 2024 Outside Audit & Supervisory Board Member, Sumitomo Heavy Industries, Ltd. (current) Jun 2025 Outside Director, Audit and Supervisory Committee Member, Gurunavi, Inc. (current)
1973-04-06
Ryoji TOMOKIYO
Director
Jul 2001 Joined Toshiba Corporation Apr 2008 Manager, Japanese Global Corporate Accounts, Toshiba Electronics Europe GmbH Aug 2017 Joined the Company as Deputy General Manager, North America Strategy Office Jun 2018 General Manager, Overseas Business Promotion Department, Business Promotion Division Jun 2023 Executive Officer, General Manager, Business Promotion Division; General Manager, Overseas Business Promotion Department (current)
Riji SANDO
Director
Apr 1981 Joined Mitsubishi Corporation Apr 2009 President, Mitsubishi Corporation Chile Apr 2012 Executive Officer, Mitsubishi Corporation; President, Mitsubishi Corporation Chile Jul 2012 Executive Officer, General Manager, Environment and Infrastructure Business Division, Mitsubishi Corporation Jun 2013 Outside Director, Chiyoda Corporation Apr 2016 Executive Officer, General Manager, Central and South America, Mitsubishi Corporation Apr 2017 Vice President, Executive Officer, Chiyoda Corporation Jun 2017 President and Representative Director, Chiyoda Corporation Apr 2022 Special Advisor, Chiyoda Corporation Jan 2023 Outside Director, Welneo Sugar Co., Ltd. (current) Jun 2023 Outside Director, Nitto Kohki Co., Ltd. (current)
Mikako TORII
Full-time Audit & Supervisory Board Member
Apr 1988 Joined the Company Jun 2011 General Manager, General Affairs Department Jun 2015 Executive Officer, General Manager, General Affairs Department Jun 2022 Full-time Audit & Supervisory Board Member of the Company (current)
1964-04-24
Hideki HAYASHI
Full-time Audit & Supervisory Board Member
Apr 1987 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) May 2010 Deputy General Manager, Retail Operations Department, MUFG Bank, Ltd. Jan 2013 President and Representative Director, M.U. Center Service Tokyo Co., Ltd. Jun 2018 President and Representative Director, M.U. Business Engineering Co., Ltd. (now MUFG Information Technology Co., Ltd.) Jun 2021 Full-time Audit & Supervisory Board Member, Japan Record Keeping Network Co., Ltd. Jun 2024 Full-time Outside Audit & Supervisory Board Member of the Company (current)
1964-03-15
Shinkichi MATSUO
Audit & Supervisory Board Member
Apr 1991 Joined Mitsubishi Electric Corporation Apr 1993 Joined City of Yokohama Oct 1995 Joined Ota Showa & Co. (now EY ShinNihon LLC) Apr 1999 Registered as Certified Public Accountant Jun 2018 Representative Director, NextLeap Co., Ltd. (current) Jun 2019 Outside Audit & Supervisory Board Member of the Company (current) Aug 2019 Outside Audit & Supervisory Board Member, TAKARA & COMPANY Inc. (current) Dec 2023 Outside Director, Audit and Supervisory Committee Member, NS Group Inc. (current) Jun 2024 Outside Director, Audit and Supervisory Committee Member, Fujars Holdings Co., Ltd. (current)
1969-01-09
Takayuki MARUYAMA
Audit & Supervisory Board Member
Apr 2000 Registered as attorney-at-law Apr 2000 Joined Nagashima Ohno & Tsunematsu Sep 2005 Joined Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP Jan 2006 Registered as attorney in the State of New York, USA Feb 2008 Joined Oe Bashi Law Office (current) Jun 2020 Outside Audit & Supervisory Board Member of the Company (current) Apr 2024 Outside Audit & Supervisory Board Member, SAVE THE DUCK JAPAN Co., Ltd.
1974-08-22
Wakako MITANI
Audit & Supervisory Board Member
Apr 2000 Registered as attorney-at-law Jul 2001 Joined Tanabe Sogo Law Office Jun 2021 Outside Audit & Supervisory Board Member, Taiheiyo Cement Corporation (current) Jun 2023 Outside Audit & Supervisory Board Member of the Company (current) Jun 2024 Outside Director, Waseda Academy Co., Ltd. (current) Sep 2024 Joined Rodem Sogo Law Office (current)
1974-01-04
Large Shareholding Reports
Kaiseisha Co., Ltd.
2025-10-23
16.38%→17.39%
Annual report (as of 2026-03-31): 18.53%
Kaiseisha Co., Ltd.
2025-08-19
16.36%→16.38%
Annual report (as of 2026-03-31): 18.53%
Mitsubishi UFJ Trust and Banking Corporation
2025-08-18
1.98%→1.78%
Kaiseisha Co., Ltd.
2025-08-18
12.84%→16.36%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 18.53%
Kaiseisha Co., Ltd.
2025-08-14
12.84%→16.36%
Annual report (as of 2026-03-31): 18.53%
Invesco Asset Management Co., Ltd.
2025-08-06
5.80%→4.78%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-05
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-18
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-05-21
株主総会招集通知
TDnet
2026-02-06
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-23
Large Shareholding Report
EDINET
2025-08-19
Large Shareholding Report
EDINETAmended
2025-08-18
Change Report
EDINET
2025-08-18
Large Shareholding Report
EDINET
2025-08-14
Large Shareholding Report
EDINET
2025-08-06
Large Shareholding Report
TDnet
2025-08-05
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-23
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-05
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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