Overview
Electric Appliances

PHC Holdings Corporation

PHC Holdings Corporation is a Japan-based healthcare holding company operating across three core domains: Diabetes Management (blood glucose monitoring systems sold in 110+ countries via Ascensia Diabetes Care), Healthcare Solutions (medical IT systems including electronic medical records, clinical testing via LSI Mediense, and CRO services via Mediford), and Diagnostics & Life Sciences (biomedical equipment such as ultra-low temperature freezers and CO2 incubators, pathology diagnostics via Epredia, and POCT in vitro diagnostics). The group's products and services span the full healthcare continuum from early disease detection and clinical research support to chronic disease management and hospital digitalization. With a global footprint across 110+ countries, PHC operates through domestically 17 legal entities and 69 overseas entities.

Market Cap
¥163B
US$1.04B
EV
¥368B
US$2.34B
Stock¥1,281▼-2.88%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
6.5
x
LTM EV/EBIT
12.6
x
LTM PER
17.8
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+0.9%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 13, 25Interim earnings disappointment
2Aug 7, 26Q1 FY2027/03 earnings announced
3Oct 1, 26Toho HD proposes acquiring PHC Holdings; discussing full buyout over ¥200bn
MC → EV Bridge
163BUS$1.04BMarket Cap246BUS$1.57B+ Debt41.3BUS$263M− Cash0.16BUS$0.99M− Inv. Sec.368BUS$2.34BEV
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Performance & Balance
Revenue 5Y (¥B)
340US$2.17B'22/3356US$2.27B'23/3354US$2.26B'24/3362US$2.31B'25/3364US$2.32B'26/3
EBITDA 5Y (¥B)
39.3US$250M'22/349.0US$313M'23/329.5US$188M'24/350.5US$322M'25/349.8US$318M'26/3
Net Income 5Y (¥B)
-8.46-US$54.0M'22/3-3.22-US$20.5M'23/3-12.9-US$82.2M'24/310.5US$66.9M'25/30.49US$3.14M'26/3
Capital Structure
41%
59%
EquityD/E 1.45xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
95.2US$607M357US$2.28B'22/360.9US$389M355US$2.27B'23/347.0US$300M365US$2.33B'24/339.6US$252M269US$1.72B'25/339.8US$254M251US$1.60B'26/3
Shareholders
Top 10 hold 79.6%
1
KKR PHC INVESTMENT L.P. (Standing Proxy: MUFG Bank, Ltd.)
37.94%
2
MITSUI & CO.,LTD.
14.68%
3
Mitsubishi Chemical Corporation
9.72%
4
Panasonic Holdings Corporation
6.14%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
3.48%
6
LCA 3 MOONSHOT LP (Standing Proxy: Mizuho Bank, Ltd.)
2.07%
7
J.P. MORGAN SECURITIES PLC (Standing Proxy: JPMorgan Securities Japan Co., Ltd.)
1.87%
8
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
1.51%
9
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
1.18%
10
Hidetomo OKA
0.97%
Management
11 officers
Kyoko DEGUCHI
Representative Director, President and CEO
Apr 1989: Joined Bain & Company Japan, Inc. Feb 1998: Joined Disney Store Japan K.K. (currently Walt Disney Japan K.K.), Planning Senior Director Feb 1999: Same company, Senior Finance Director Mar 2001: Joined Japan GE Plastics K.K. (currently SABIC Japan GK), Director, CFO Apr 2004: Joined Janssen Pharmaceuticals Inc. (currently Johnson & Johnson Innovative Medicine) (U.S.), Product Director Sep 2005: Joined Janssen-Cilag Pty Ltd. (Australia), General Manager, Gastrointestinal, Pain and OTC Business Jan 2007: Joined Janssen Pharma K.K., Deputy General Manager, Marketing Division Aug 2009: Joined Stryker Japan K.K., Director, Global Marketing Vice President Jan 2012: Same company, Representative Director, President Mar 2013: Joined Bell System24 Holdings Co., Ltd., Managing Executive Officer, Chief of President's Office, concurrently in charge of Accounting and Finance Division Mar 2014: Joined AbbVie GK, President Jul 2014: Nihon Ski Resort Development Co., Ltd., Outside Director Feb 2015: Medical Corporation Shikikukai, Chief Operating Officer Apr 2015: Business Breakthrough University Graduate School, Professor (current) Mar 2016: Cookpad Inc., Outside Director Jun 2016: T-Gaia Corporation, Outside Director Aug 2017: Medical Corporation Shikikukai, Vice Director Jun 2019: NHK Technologies, Inc., Outside Director Jan 2020: Heartseed Inc., Outside Director (current) Jun 2021: The Company, Outside Director Sep 2022: Doyaru Rehabilitation Orthopedic Clinic, Vice Director Apr 2024: The Company, Representative Director, President and CEO (current)
1965-12-12
Koichiro SATO
Representative Director, Vice President, COO and CSO
Apr 1997: Joined Mitsui & Co., Ltd. Feb 2007: Seconded to Novus International, Inc., Vice President Planning (U.S.) Jun 2011: Joined Misumi Corporation, Assistant to the President, Die & Mold Business Group May 2012: Same company, Die & Mold Business India, Division Director (India) Apr 2014: Same company, Deputy General Manager, China Die & Mold Business Division (China) Nov 2015: Rejoined Mitsui & Co., Ltd. Apr 2016: Mitsui & Co., Ltd., General Manager, Medical Business Division I, Healthcare Business Division Mar 2017: The Company, Outside Director Apr 2017: Mitsui & Co., Ltd., General Manager, Medical Business Division III, Healthcare Business Division Apr 2018: Director, DaVita Care Pte. Ltd. Apr 2021: Mitsui & Co., Ltd., General Manager, Asia Business Office, Healthcare Business Division Jun 2021: MBK Healthcare Management Pte. Ltd., Hong Kong Branch, Chief Executive Officer Jun 2021: Alm Co., Ltd., Director Jul 2022: The Company, Representative Director, Vice President, COO May 2023: Director, Senseonics Holdings, Inc. Jul 2024: The Company, Representative Director, Vice President, COO and CSO (current)
1973-05-25
Kaiki YAMAGUCHI
Director, CFO
Apr 2002: Joined Sumitomo Mitsui Banking Corporation Apr 2004: Seconded to Daiwa Securities SMBC Co., Ltd. Sep 2007: Seconded to Daiwa Securities SMBC Europe Ltd. (London) Sep 2008: Returned to Daiwa Securities SMBC Co., Ltd. Aug 2011: Completed MBA program, The Wharton School, University of Pennsylvania Sep 2011: Returned to Sumitomo Mitsui Banking Corporation Feb 2013: Joined Mitsui & Co., Ltd. Apr 2017: Seconded to PHC Holdings Corporation, Corporate Planning Division Mar 2019: The Company, General Manager, Corporate Planning Division Jun 2021: Joined the Company, Executive Officer, General Manager, Corporate Planning Division Jun 2022: The Company, Managing Executive Officer, CSO Jun 2024: The Company, Managing Executive Officer, CFO Jun 2025: The Company, Director, Senior Managing Executive Officer, CFO (current)
1978-07-11
Ivan TORNOS
Outside Director
Jun 1995: CEO, Operating Partner, Audibest Bausch and Lomb Group Iberia (currently Bausch Health Companies Inc.) Jul 1997: Johnson & Johnson May 2008: Vice President, General Manager, Cordis, Johnson & Johnson Aug 2008: Head of Strategy & Business Development, Renal/Life Sciences/Medication Delivery Businesses Americas, Baxter International Inc. Aug 2011: Head of Emerging Markets / South Group, Becton Dickinson and Company Jan 2017: Group President, Urology/Ischemic Tech/Critical Care/Medical Group, Becton Dickinson and Company Nov 2018: Group President, Zimmer Biomet Group Feb 2021: Chief Operating Officer, Zimmer Biomet Group Sep 2021: The Company, Outside Director (current) Aug 2023: President, Chief Executive Officer and Member of the Board of Directors, Zimmer Biomet Group May 2025: Chairman, President and Chief Executive Officer, Zimmer Biomet Group (current)
1975-07-29
David SNYDER
Outside Director
Dec 1984: Associate, Paul, Weiss, Rifkind, Wharton & Garrison Jul 1987: Director and Counsel, Legal Department, Salomon Brothers Inc. Feb 1992: Associate, Simpson Thacher & Bartlett LLP Jan 1994: Partner, Simpson Thacher & Bartlett LLP Jun 2022: The Company, Outside Director (current) Jun 2023: Mitsubishi UFJ Financial Group, Inc., Outside Director (current)
1957-07-25
Hirofumi HIRANO
Outside Director
Apr 1983: Joined Nikko Securities Co., Ltd. (currently SMBC Nikko Securities Inc.) Oct 1998: Nikko Europe Co., Ltd. (currently Citigroup Capital Partners Japan Ltd.), President, concurrently General Manager, Investment Management Department, Nikko Cordial Group Apr 1999: Nikko Principal Investments Inc., CEO and Chairman Jun 2003: Director, Nikko Cordial Group Apr 2008: Joined Alix Partners Asia LLC Jan 2010: Same company, Japan Representative Oct 2010: Same company, Head of Financial Services, Asia Apr 2013: KKR Japan Co., Ltd., Representative Director, President (current) Aug 2013: Orion Investment Co., Ltd. (currently the Company), Outside Director (current) Mar 2015: Pioneer DJ Corporation (currently AlphaTheta Corporation), Outside Director May 2017: CK Holdings Co., Ltd. (currently Marelli Holdings Co., Ltd.), Director (current) Oct 2017: Hitachi Koki Co., Ltd. (currently Koki Holdings Co., Ltd.), Outside Director Jun 2019: Hitachi Kokusai Electric Inc., Outside Director Sep 2019: KKR Japan Co., Ltd., Representative Director, President, concurrently Co-Head of Asia Private Equity Mar 2021: KOKUSAI ELECTRIC Corp., Outside Director Apr 2022: KJRM Management Co., Ltd., Director Mar 2023: Hitachi Transport System, Ltd. (currently Logisteed, Ltd.), Outside Director Feb 2025: KJRM Holdings Co., Ltd., Director (current) Apr 2026: Logisteed Holdings Co., Ltd., Outside Director (current)
1961-03-14
Eiji YATAGAWA
Outside Director
Apr 2002: Joined Goldman Sachs Securities Co., Ltd. Aug 2006: Joined KKR Japan Co., Ltd. (current) Aug 2013: Orion Investment Co., Ltd. (currently the Company), Outside Director Mar 2015: Pioneer DJ Corporation (currently AlphaTheta Corporation), Outside Director Jun 2015: Transphorm Inc., Board Director Sep 2015: Transform Japan K.K., Outside Director Oct 2016: CK Holdings Co., Ltd. (currently Marelli Holdings Co., Ltd.), Outside Director Jun 2017: Transform Aizu K.K., Outside Director Oct 2017: Hitachi Koki Co., Ltd. (currently Koki Holdings Co., Ltd.), Outside Director (current) Jun 2018: KOKUSAI ELECTRIC Corp., Outside Director Aug 2019: From Scratch Inc. (currently Data X Inc.), Outside Director (current) Dec 2020: GANOVATION, PTE. LTD., Director Mar 2021: Seiyu Holdings Co., Ltd., Director Apr 2021: NetStars Co., Ltd., Director Jun 2021: The Company, Outside Director, resigned Mar 2022: Yayoi Co., Ltd., Outside Director (current) Mar 2022: Altoa Corporation, Director Jun 2022: The Company, Outside Director (current) Mar 2023: Hitachi Transport System, Ltd. (currently Logisteed, Ltd.), Outside Director Jun 2024: Seiyu Co., Ltd., Director Apr 2025: Fuji Soft Inc., Outside Director (current) Dec 2025: Topcon Corporation, Outside Director (current) Apr 2026: Logisteed Holdings Co., Ltd., Outside Director (current)
1978-01-20
Kanto YUKIMOTO
Outside Director
Apr 1985: Joined Tateishi Electric Co., Ltd. (currently OMRON Corporation) Apr 2005: OMRON Corporation, Corporate Planning Manager, Omron Europe B.V. Apr 2009: OMRON Corporation, President and CEO, Omron Europe B.V. Jun 2010: OMRON Corporation, Executive Officer Mar 2012: OMRON Corporation, General Manager, Environmental Business Promotion Headquarters Mar 2014: OMRON Corporation, General Manager, Environmental Business Headquarters Apr 2014: OMRON Corporation, Senior Managing Executive Officer Feb 2017: OMRON Corporation, President, Electronic & Mechanical Components Business Company (currently Device & Module Solutions Company) Jun 2023: OMRON Corporation, Director (current) Mar 2025: Yamabiko Corporation, Outside Director (current) Jun 2025: Japan-Indonesia Association (general incorporated foundation), Director (current) Jun 2026: The Company, Outside Director (scheduled to assume office)
1961-12-25
Toru YOSHIMITSU
Corporate Auditor
Apr 1987: Joined Yamanouchi Pharmaceutical Co., Ltd. (currently Astellas Pharma Inc.) Apr 2013: Astellas Pharma Inc., General Manager, Product Strategy Department Jun 2015: Astellas Pharma Inc., Executive Officer, General Manager, Product Strategy Department Apr 2017: Astellas Pharma Inc., Executive Officer, General Manager, Business Management Department Apr 2019: Astellas Pharma Inc., Executive Officer, General Manager, Corporate Financial Planning & Analysis Department Oct 2019: Astellas Pharma Inc., Executive Officer, General Manager, Finance, concurrently General Manager, Corporate Financial Planning & Analysis Department Jun 2020: Astellas Pharma Inc., Director and Audit and Supervisory Committee Member (Chairman of the Audit and Supervisory Committee) Nov 2021: Japan Corporate Auditors Association (public interest incorporated association), Director Nov 2023: Japan Corporate Auditors Association, Vice Chairman, Chairman of the Public Relations and Policy Promotion Meeting Jun 2025: The Company, Corporate Auditor (current)
1963-03-11
Yukiko MORIYAMA
Outside Corporate Auditor
Dec 2008: Registered as attorney-at-law, joined a law office in Tokyo Oct 2010: Cabinet Office, Assistant Counselor (Office for Preparation of the Amendment Bill to the Information Disclosure Act) Jan 2015: Joined Waseda Legal Commons Law Offices, Partner Attorney (current) Apr 2015: Daini Tokyo Bar Association, Vice Chair, Committee on Information Disclosure and Personal Information Protection Jul 2020: Member, Wako City Personal Information Protection Review Board (currently Personal Information Protection Council) Nov 2020: Manny Co., Ltd., Outside Director Apr 2022: Chair, Wako City Personal Information Protection Council (current) Apr 2025: Member, Information Disclosure and Personal Information Protection Review Committee, Prosecution Review Commission (current) Apr 2025: Standing Member of the Council, Daini Tokyo Bar Association (current) Jun 2025: The Company, Outside Corporate Auditor (current) Apr 2026: Specialist Investigator, Minato City Building Review Committee (current)
1976-03-20
Masakuni NOGUCHI
Outside Corporate Auditor
Oct 1990: Joined Eiwa Audit Corporation (currently Azsa LLC) Apr 1997: Registered as Certified Public Accountant Jun 2005: Partner, Azsa LLC Sep 2023: Representative, Noguchi Certified Public Accountant Office (current) Jun 2024: Daio Paper Corporation, Outside Corporate Auditor Jun 2025: Daio Paper Corporation, Outside Director, Audit and Supervisory Committee Member (current) Jun 2025: Kanaden Corporation, Outside Corporate Auditor (current) Jun 2026: The Company, Outside Corporate Auditor (scheduled to assume office)
1966-10-10
Large Shareholding Reports
Mitsui & Co., Ltd.
2026-10-19
7.53%→6.47%
Annual report (as of 2026-03-31): 14.68%
Mitsubishi Chemical Corporation
2026-10-16
8.35%→7.34%
Annual report (as of 2026-03-31): 9.72%
Mitsui & Co., Ltd.
2026-10-07
8.89%→7.53%
Annual report (as of 2026-03-31): 14.68%
Mitsubishi Chemical Corporation
2026-10-07
9.73%→8.35%
Annual report (as of 2026-03-31): 9.72%
Mitsui & Co., Ltd.
2026-09-29
9.99%→8.89%
Annual report (as of 2026-03-31): 14.68%
Mitsui & Co., Ltd.
2026-08-20
12.05%→11.03%
Annual report (as of 2026-03-31): 14.68%
Mitsui & Co., Ltd.
2026-07-23
14.65%→12.05%
Annual report (as of 2026-03-31): 14.68%
Panasonic Holdings Corporation
2026-05-20
6.13%→4.55%
Annual report (as of 2026-03-31): 6.14%
Mitsui & Co., Ltd.
2026-03-04
17.62%→14.65%
Annual report (as of 2026-03-31): 14.68%
Panasonic Holdings Corporation
2025-11-19
7.74%→6.13%
Annual report (as of 2026-03-31): 6.14%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-19
Large Shareholding Report
EDINET
2026-10-16
Large Shareholding Report
EDINET
2026-10-07
Large Shareholding Report
EDINET
2026-10-07
Large Shareholding Report
EDINET
2026-09-29
Large Shareholding Report
EDINET
2026-08-20
Large Shareholding Report
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-23
Large Shareholding Report
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-05-27
Securities Registration Statement
EDINET
2026-05-20
Large Shareholding Report
EDINET
2026-03-04
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-19
Large Shareholding Report
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-05-28
Securities Registration Statement
TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-09
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
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