Overview
Chemicals

Nippon Shikizai,Inc.

Nippon Shikizai Inc. is a cosmetics ODM/OEM manufacturer with approximately 100 years of history, providing end-to-end support from research and development to production for diverse beauty brands worldwide. The company's product portfolio spans base makeup (foundations, face powder), eye makeup (mascara, eyeliner, eyeshadow), point makeup (lipstick, cheek), skincare, and UV products. Leveraging proprietary technologies and long-standing expertise, the company serves global brand clients while delivering beauty and health solutions across international markets.

Market Cap
¥2.28B
US$14.5M
EV
¥11.6B
US$74.0M
Stock¥1,120▲+2.66%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
10.7
x
LTM EV/EBIT
97.2
x
LTM PER
8.6
x
LTM PBR
0.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-18.0%pt
10012
Oct 24, 25 – Oct 22, 26StockTOPIX
1Feb 26, 26Selling ahead of Q3 earnings concerns
2Jul 15, 26Q1 FY2027/02 earnings announced
MC → EV Bridge
2.28BUS$14.5MMarket Cap10.5BUS$66.8M+ Debt0.86BUS$5.48M− Cash0.30BUS$1.89M− Inv. Sec.11.6BUS$74.0MEV
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Performance & Balance
Revenue 5Y (¥B)
8.70US$55.5M'22/211.8US$75.0M'23/215.1US$96.0M'24/217.6US$112M'25/216.6US$106M'26/2
EBITDA 5Y (¥B)
0.52US$3.31M'22/20.96US$6.11M'23/21.30US$8.27M'24/21.40US$8.91M'25/21.12US$7.11M'26/2
Net Income 5Y (¥B)
-0.12-US$0.78M'22/20.25US$1.57M'23/20.40US$2.54M'24/20.22US$1.38M'25/20.34US$2.14M'26/2
Capital Structure
29%
71%
EquityD/E 2.51xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.74US$11.1M10.2US$65.2M'22/21.69US$10.8M10.0US$64.0M'23/21.69US$10.8M9.51US$60.7M'24/21.21US$7.70M9.73US$62.1M'25/21.37US$8.71M9.88US$63.0M'26/2
Shareholders
Top 10 hold 67.5%
1
Towa Sœur Co., Ltd.
34.30%
2
Chifure Holdings Co., Ltd.
7.00%
3
MITSUBISHI PENCIL COMPANY,LIMITED
6.00%
4
Ida Laboratories Co., Ltd.
4.90%
5
Kayo OKUMURA
4.40%
6
Brest Sieve Co., Ltd.
3.20%
7
Custody Bank of Japan, Ltd. (Trust Account E)
3.10%
8
Rakuten Securities, Inc. (Joint Account)
1.70%
9
Yuka OKUMURA
1.50%
10
Chika NAKANO
1.40%
Management
10 officers
Hiroshi OKUMURA
Representative Director, Chairman and CEO
Apr 1967 Joined the Company Apr 1972 Appointed Director Apr 1973 Appointed Managing Director Oct 1987 Appointed Representative Director, Senior Managing Director Apr 1990 Appointed Representative Director, President Feb 2000 Appointed Director, THEPENIER PHARMA INDUSTRIES S.A. (now Thepenier) Jun 2001 In charge of Research Department Sep 2009 Appointed President, THEPENIER PHARMA INDUSTRIES S.A.S. (now Thepenier) Jun 2013 General Manager, Sales Division Dec 2014 General Manager, Production Division Mar 2016 General Manager, Production Control Division Jun 2016 Appointed Representative Director, Chairman and CEO (current)
1944-04-21
Kayo OKUMURA
Representative Director, President and COO
Mar 1999 Joined the Company May 2011 Appointed Director Jun 2011 General Manager, Management Strategy Department, Business Management Division Jun 2013 Deputy General Manager, Sales Division; concurrently General Manager, Management Strategy Department, Business Management Division Dec 2014 General Manager, International Sales Department, Sales Division Dec 2016 Deputy General Manager, Business Management Division Apr 2017 General Manager, Corporate Planning Department, Business Management Division Apr 2019 Head, Corporate Planning Office Nov 2020 General Manager, Administration Department Feb 2021 General Manager, Human Resources Department; concurrently General Manager, Administration Department Jun 2022 Appointed Managing Director; General Manager, Comprehensive Planning Division May 2023 Appointed Representative Director, President and COO (current)
1975-12-22
Takashi MINAMI
Managing Director, Head of Development Division and General Manager, R&D Department
Feb 2019 Joined the Company; Deputy General Manager, R&D Department May 2019 Appointed Executive Officer; General Manager, R&D Department May 2020 Appointed Director Jun 2022 Appointed Managing Director (current) Sep 2025 General Manager, R&D Division; concurrently General Manager, R&D Department Sep 2025 Head of Development Division; concurrently General Manager, R&D Department (current)
1959-01-28
Masaki SHIMODA
Managing Director, General Manager, Planning and Accounting Department
Jan 2019 Joined the Company; General Manager, Finance and Accounting Department, Business Management Division Apr 2019 General Manager, Finance and Accounting Department May 2019 Appointed Director Jun 2022 General Manager, Finance and Accounting Department, Comprehensive Planning Division Nov 2022 General Manager, Planning and Accounting Department, Comprehensive Planning Division May 2023 General Manager, Planning and Accounting Department (current) May 2024 Appointed Managing Director (current)
1964-01-19
Fumihiko SUZUKI
Director, Head of Quality Assurance Division and General Manager, Quality Assurance Department
Apr 1995 Joined the Company Jun 2013 General Manager, Zama Plant, Production Division Jun 2016 Appointed Executive Officer; General Manager, Production Control Division; concurrently General Manager, Operations Department Apr 2018 General Manager, Production Control Division May 2018 Appointed Director (current) Apr 2019 Director in charge of Production Jun 2022 General Manager, Production Division May 2023 General Manager, Quality Assurance Division; concurrently General Manager, Quality Assurance Department (current)
1971-07-01
Nobuyuki NAKAJIMA
Director, Head of Sales Division and General Manager, Sales Department
Apr 1984 Joined the Company Apr 2013 Group Manager, Sales Group Dec 2014 General Manager, Sales Department May 2019 Appointed Executive Officer; General Manager, Sales Department Jun 2022 Appointed Director (current) Jun 2022 Head of Sales Division; concurrently General Manager, Sales Department (current)
1962-03-27
Minoru UCHIDA
Director, General Manager, Administration Department
Jan 2023 Joined the Company May 2023 Appointed Executive Officer; General Manager, Administration Department (current) May 2024 Appointed Director (current)
1967-12-28
Masaki HASHIBA
Audit and Supervisory Committee Member (Full-time)
Apr 1983 Joined the Company Apr 2007 Deputy General Manager, Research Department Mar 2014 General Manager, Quality Assurance Department May 2018 Appointed Executive Officer May 2020 Appointed Director Jun 2022 Head of Quality Assurance Division; concurrently General Manager, Quality Assurance Department May 2023 Appointed Audit and Supervisory Committee Member (current)
1960-11-18
Tomohiro TOYAMA
Audit and Supervisory Committee Member (Outside Director)
Apr 1980 Registered as attorney-at-law; joined Nishimura & Sanada Law Office Jun 1984 Obtained LL.M., UCLA School of Law Oct 1990 Established TMI Associates; Partner Attorney (current) Nov 1999 Appointed Corporate Auditor of the Company May 2016 Appointed Audit and Supervisory Committee Member of the Company (current)
1950-02-21
Takao OBATA
Audit and Supervisory Committee Member (Outside Director)
Apr 1967 Joined Tokyo National Tax Bureau Jul 2006 General Manager, Investigation Division II, Tokyo National Tax Bureau Jul 2007 Registered as Certified Tax Accountant; Director, Obata Tax Accountant Office (current) May 2017 Appointed Audit and Supervisory Committee Member of the Company (current) Apr 2020 Outside Corporate Auditor, Tokyo Toshi Kaihatsu Co., Ltd. (current) Sep 2020 Outside Corporate Auditor, Hilton Japan K.K. (current) Jun 2021 Outside Director, Nihon Shurui Hanbai Co., Ltd. (current)
1948-01-25
Large Shareholding Reports
Hiroshi OKUMURA
2026-04-16
12.05%→0.43%
Toi Soeur Co., Ltd.
2026-04-16
23.80%→34.28%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-08-31): 34.30%
Hiroshi OKUMURA
2026-04-15
0.43%
Toi Soeur Co., Ltd.
2026-04-15
23.80%→34.28%
Annual report (as of 2026-08-31): 34.30%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-14
Semi-Annual Securities Report
Period: Mar 2026 – Feb 2027
TDnet
2026-10-13
Q2 Earnings Flash
FY ending Feb 2027
TDnet
2026-07-14
Q1 Earnings Flash
FY ending Feb 2027
EDINET
2026-05-29
Annual Securities Report
Period: Mar 2025 – Feb 2026
EDINETAmended
2026-04-16
Change Report
EDINETAmended
2026-04-16
Change Report
EDINET
2026-04-15
Large Shareholding Report
EDINET
2026-04-15
Large Shareholding Report
TDnet
2026-01-14
Q3 Earnings Flash
FY ending Feb 2026
EDINET
2025-10-15
Semi-Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2025-07-15
Q1 Earnings Flash
FY ending Feb 2026
EDINET
2025-05-30
Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2025-01-14
Q3 Earnings Flash
FY ending Feb 2025
EDINET
2024-10-15
Semi-Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINET
2024-07-12
Quarterly Securities Report
Period: Mar 2024 – May 2024
TDnet
2024-07-11
Q1 Earnings Flash
FY ending Feb 2025
EDINET
2024-05-30
Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-01-12
Quarterly Securities Report
Period: Sep 2023 – Nov 2023
EDINET
2023-10-13
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINET
2023-07-14
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINET
2023-05-26
Annual Securities Report
Period: Mar 2022 – Feb 2023
EDINET
2023-01-13
Quarterly Securities Report
Period: Sep 2022 – Nov 2022
EDINET
2022-10-13
Quarterly Securities Report
EDINET
2022-07-13
Quarterly Securities Report
EDINET
2022-05-26
Annual Securities Report
EDINET
2022-01-13
Quarterly Securities Report
EDINET
2021-10-14
Quarterly Securities Report
EDINET
2021-07-14
Quarterly Securities Report
EDINET
2021-05-27
Annual Securities Report
EDINET
2021-01-13
Quarterly Securities Report
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