Overview
Precision Instruments

Sincere Co.,LTD.

Sincere is a Japanese contact lens manufacturer and distributor specializing in disposable clear contact lenses and color contact lenses (circle lenses and color lenses), with flagship products under the silicon hydrogel-based 'Sincere S Series.' The company serves a broad consumer base including fashion-conscious 10–20s demographics through multiple proprietary brands (e.g., FAIRY, L-CON, EyeWell) sold through optical chains, drugstores, and online channels. In addition to its core contact lens business, Sincere offers B2B services including OEM/private brand manufacturing, regulatory affairs (RA) support, and DMAH (designated marketing authorization holder) services to corporate clients.

Market Cap
¥3.31B
US$21.1M
EV
¥3.15B
US$20.1M
Stock¥503▼-0.40%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
6.0
x
LTM EV/EBIT
6.5
x
LTM PER
14.0
x
LTM PBR
1.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-31.8%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
3.31BUS$21.1MMarket Cap1.72BUS$11.0M+ Debt1.88BUS$12.0M− Cash0.00BUS$0.00M− Inv. Sec.3.15BUS$20.1MEV
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Performance & Balance
Revenue 5Y (¥B)
4.56US$29.1M'21/125.59US$35.6M'22/125.96US$38.0M'23/126.54US$41.7M'24/127.46US$47.6M'25/12
EBITDA 5Y (¥B)
0.12US$0.74M'21/120.16US$1.03M'22/120.39US$2.47M'23/120.52US$3.30M'24/120.56US$3.57M'25/12
Net Income 5Y (¥B)
0.08US$0.53M'21/120.07US$0.42M'22/120.30US$1.88M'23/120.30US$1.92M'24/120.26US$1.68M'25/12
Capital Structure
62%
38%
EquityD/E 0.61xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.09US$6.94M0.74US$4.69M'21/121.13US$7.22M1.10US$6.99M'22/122.19US$14.0M2.30US$14.7M'23/121.89US$12.0M2.05US$13.1M'24/121.66US$10.6M1.83US$11.7M'25/12
Shareholders
Top 10 hold 72.5%
1
EUCALIA Inc.
61.53%
2
Ken NAKAMURA
4.51%
3
Hayato HAGIWARA
1.69%
4
Teruo AIHARA
1.09%
5
Kento ARITA
1.02%
6
Minoru MARUTA
0.72%
7
Daisuke SHIBUSAWA
0.62%
8
JPMorgan Securities Japan Co., Ltd.
0.60%
9
Hidemasa NAGAMINE
0.37%
10
Shinichi ARAI
0.33%
Management
5 officers
Ken NAKAMURA
Representative Director, President and Executive Officer
Oct 1997 Joined Chuo Audit Corporation Jun 2001 Registered as Certified Public Accountant Jul 2006 Joined Capital Medica Inc. (now Yukaria Inc.) Sep 2008 Representative Director, President, the Company Jun 2010 Representative Director, Karacon Works Co., Ltd. (current) Jul 2012 Director, Sincere Vision Co., Ltd. (current) May 2013 Director, Sincere Vision Optical Co., Ltd. (current) Apr 2014 Director, SINCERE LENS SDN. BHD. May 2014 Director, Sincere Vision (Thailand) Co., Ltd. Jan 2016 Representative Director, President and Executive Officer, the Company (current) Dec 2021 Representative Director, President, Generic Corporation Co., Ltd. (current) Mar 2024 Representative Director, Talos Systems Co., Ltd. (current)
1973-01-10
Shinichi ARAI
Director, Executive Officer, General Manager of Administration Division
Apr 1991 Joined Nihon Digital Equipment Co., Ltd. Jan 2001 Joined Nagata Accounting Office Apr 2003 Joined Zeron Co., Ltd. Sep 2008 Joined Utowa Co., Ltd. (now Mercys Co., Ltd.) Jun 2012 Joined the Company Jun 2013 Auditor, Sincere Vision Optical Co., Ltd. Jul 2014 General Manager, Administration Division, the Company Jan 2016 Executive Officer, General Manager, Administration Division, the Company Jul 2016 Director, Executive Officer, General Manager, Administration Division, the Company (current) Jun 2018 Director, Sincere Vision Optical Co., Ltd. Nov 2023 Corporate Auditor, Talos Systems Co., Ltd. May 2024 Auditor, Sincere Vision Optical Co., Ltd. (current)
1968-05-14
Satoshi HAYAKAWA
Director (Full-time Audit and Supervisory Committee Member)
Apr 1982 Joined Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Jan 1988 Deputy Manager, Second Department, Tokyo Sales Headquarters, the Bank Jul 1991 Research Specialist, Derivatives Sales Department, the Bank Mar 1995 Senior Research Specialist, Branch Administration Department, the Bank Jan 2002 Seconded to UFJ Central Lease Co., Ltd. (now Mitsubishi HC Capital Inc.) Oct 2007 Senior Research Specialist, Corporate Compliance Department, MUFG Bank, Ltd. Jan 2010 Senior Research Specialist, Business Audit Department, MUFG Bank, Ltd. Jul 2012 Executive Officer, General Manager of Accounting Department and Overseas Subsidiaries Management, Nikko Chemicals Co., Ltd. Feb 2024 Management Planning Office (Stock and Asset Management), Astro Design Inc. Mar 2026 Director (Full-time Audit and Supervisory Committee Member), the Company (current)
1960-02-22
Yutaka KASE
Director (Audit and Supervisory Committee Member)
Oct 1996 Joined Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Apr 2000 Registered as Certified Public Accountant Jul 2006 Opened Kase Certified Public Accountant Office (current) Aug 2014 Registered as Certified Tax Accountant Jun 2015 Outside Director, Oval Co., Ltd. Mar 2016 Auditor, the Company Jun 2016 Outside Director (Audit and Supervisory Committee Member), Oval Co., Ltd. Sep 2018 Outside Corporate Auditor, Hitokuse Co., Ltd. Mar 2022 Director (Audit and Supervisory Committee Member), the Company (current)
1972-05-17
Hiroshi OGAWA
Director (Audit and Supervisory Committee Member)
Oct 2000 Registered as Attorney at Law Oct 2000 Joined Yamazaki Sogo Law Office Oct 2005 Partner, Yamazaki Sogo Law Office Apr 2014 Mediation Commissioner, Tokyo Family Court (current) Oct 2015 Director, Ryozankai Medical Corporation Mar 2017 Director, the Company Feb 2023 Partner, Yotsuya Sotobori Law Office (current) Mar 2024 Director (Audit and Supervisory Committee Member), the Company (current)
1967-04-04
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-14
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-08-14
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-05-15
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-27
Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-11-14
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-14
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-15
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-31
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-29
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-31
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-31
Annual Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-05-14
Quarterly Securities Report
EDINET
2021-03-31
Annual Securities Report
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