Overview
Wholesale Trade

SUZUKEN CO.,LTD.

Suzuken is one of Japan's leading pharmaceutical wholesalers, distributing prescription drugs, diagnostics, medical devices, and materials to hospitals, clinics, and pharmacies nationwide through 158 branches. Beyond core wholesale, the company operates across healthcare product development (through Sanwa Kagaku Kenkyusho), dispensing pharmacies and nursing care services, specialty pharmaceutical distribution outsourcing, and pharmaceutical manufacturer support services including logistics. The group leverages an integrated healthcare value chain to serve both upstream pharmaceutical manufacturers and downstream care providers across Japan.

Market Cap
¥390B
US$2.49B
EV
¥165B
US$1.05B
Stock¥2,886.5▲+2.63%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.5
x
LTM EV/EBIT
4.7
x
LTM PER
10.3
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-24.0%pt
1001
Oct 23, 25 – Oct 23, 26StockTOPIX
1Mar 24, 26Silchester International Investors LLP changed stake (7.13%→8.25%)
MC → EV Bridge
390BUS$2.49BMarket Cap1.78BUS$11.4M+ Debt121BUS$774M− Cash106BUS$677M− Inv. Sec.0.18BUS$1.17M+ NCI165BUS$1.05BEV
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Performance & Balance
Revenue 5Y (¥B)
2,233US$14.2B'22/32,315US$14.8B'23/32,386US$15.2B'24/32,400US$15.3B'25/32,487US$15.9B'26/3
EBITDA 5Y (¥B)
23.3US$149M'22/341.2US$263M'23/343.4US$277M'24/349.2US$314M'25/3
Net Income 5Y (¥B)
14.4US$91.8M'22/320.3US$130M'23/329.0US$185M'24/334.5US$220M'25/338.1US$243M'26/3
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
231US$1.48B'22/3203US$1.29B'23/3283US$1.80B'24/3187US$1.19B1.80US$11.5M'25/3196US$1.25B1.78US$11.4M'26/3
Shareholders
Top 10 hold 40.8%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.64%
2
NORTHERN TRUST CO. (AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
3.74%
3
Custody Bank of Japan, Ltd. (Trust Account)
3.38%
4
Yoshiki BESSHO
3.15%
5
Chika BESSHO
3.15%
6
Masaki BESSHO
3.14%
7
Suzuki Kenzo Memorial Foundation for Medical Science Applied Research (Public Interest Foundation)
2.66%
8
SUZUKEN CO.,LTD. Employee Stock Ownership Association
2.48%
9
NORTHERN TRUST CO. (AVFC) RE U.S. TAX EXEMPTED PENSION FUNDS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.28%
10
JP MORGAN CHASEBANK 380055 (Standing Proxy: Mizuho Bank, Ltd.)
2.17%
Management
10 officers
Shigeru ASANO
Representative Director, President and Executive Officer
Apr 1990 Joined the Company Mar 2005 President, Collabo Create Co., Ltd. (currently SD Collabo Co., Ltd.) Jun 2009 Executive Officer Jul 2010 General Manager, SCM Division Apr 2012 Managing Executive Officer Apr 2015 Senior Managing Executive Officer; General Manager, Planning Division; in charge of Pharmaceutical Affairs Department and CSR Promotion Office Jun 2015 Director, Senior Managing Executive Officer Apr 2017 General Manager, Corporate Division; General Manager, Corporate Planning Department; in charge of Risk Management Office Apr 2019 Director, Executive Vice President and Executive Officer; General Manager, Corporate Division; in charge of Risk Management and Pharmaceutical Affairs Apr 2020 General Manager, Corporate Division Apr 2021 Representative Director, Executive Vice President and Executive Officer Apr 2022 Representative Director, President and Executive Officer (current)
1966-08-04
Hiromi MIYATA
Director, Chairman and Executive Officer
Apr 1984 Joined the Company Jun 2006 General Manager, Logistics Department Jun 2008 Executive Officer Apr 2009 General Manager, Corporate Planning Department Apr 2011 Managing Executive Officer Apr 2012 Senior Managing Executive Officer Jun 2012 Director, Senior Managing Executive Officer Apr 2013 General Manager, Planning Division; General Manager, Corporate Planning Department Apr 2014 General Manager, Planning Division Apr 2015 Director, Executive Vice President and Executive Officer Apr 2016 Representative Director, President and Executive Officer Apr 2022 Representative Director, Chairman and Executive Officer Jun 2024 Director, Chairman and Executive Officer (current)
1960-04-24
Hirofumi TANAKA
Director, Senior Managing Executive Officer, General Manager, Healthcare Distribution Business Division
Apr 1985 Joined the Company Oct 2008 General Manager, Kanazawa Sales Department Jul 2010 General Manager, Area Logistics Department Mar 2012 President, SD Next Co., Ltd. (currently SD Collabo Co., Ltd.) Apr 2014 Executive Officer Apr 2015 General Manager, SCM Division Apr 2017 Deputy General Manager, Sales Division; General Manager, Sales Planning Department Apr 2018 Managing Executive Officer Apr 2020 General Manager, Healthcare Business Division Jun 2020 Director, Managing Executive Officer Apr 2021 General Manager, Healthcare Business Division; General Manager, Healthcare Business Planning Department Jun 2021 Resigned as Director Oct 2021 Deputy General Manager, Wholesale Business Division; General Manager, Product Strategy Department Apr 2022 Senior Managing Executive Officer; General Manager, Wholesale Business Division Apr 2023 General Manager, Healthcare Distribution Business Division (current) Jun 2023 Director, Senior Managing Executive Officer (current)
1963-01-31
Chie TAKAHASHI
Director, Senior Executive Officer, General Manager, Medical and Nursing Care Support Business Division
Apr 2000 Joined the Company Apr 2015 General Manager, Pharmaceutical Affairs Department Feb 2017 General Manager, Corporate Communications Department Feb 2019 Head, Pharmaceutical Affairs Control Office Apr 2020 Executive Officer; in charge of Pharmaceutical Affairs, Internal Control and Audit; Head, Pharmaceutical Affairs Control Office Jun 2020 Director, Executive Officer Apr 2023 Director, Senior Executive Officer (current); General Manager, Healthcare Solutions Business Division; General Manager, Solutions Business Planning Department Jan 2024 General Manager, Medical and Nursing Care Support Business Division; General Manager, Solutions Business Planning Department Apr 2024 General Manager, Medical and Nursing Care Support Business Division; General Manager, Business Planning Department Apr 2025 General Manager, Medical and Nursing Care Support Business Division; General Manager, Medical and Nursing Care Support Business Department Apr 2026 General Manager, Medical and Nursing Care Support Business Division (current)
1967-08-17
Asako TOMITA
Director, Audit and Supervisory Committee Member (Full-time)
Apr 1994 Joined Akiyama Aiseikan Co., Ltd. (merged with the Company in Apr 1998) Apr 2019 General Manager, Risk Management and Audit Office Apr 2020 Executive Officer; General Manager, Compliance Department Apr 2023 In charge of Pharmaceutical Affairs, Internal Control and Audit; Head, Pharmaceutical Affairs Control Office Oct 2024 In charge of Pharmaceutical Affairs, Internal Control and Audit; Head, Pharmaceutical Affairs Control Office; General Manager, Internal Audit Office Apr 2025 Assistant to the President Jun 2025 Director, Audit and Supervisory Committee Member (current)
1971-06-03
Hideaki NAKAGAKI
Director
Apr 1982 Joined the Ministry of Health and Welfare (currently Ministry of Health, Labour and Welfare) Feb 2013 Deputy Director General, Health and Medical Strategy Office, Cabinet Secretariat Oct 2015 Director General, Pharmaceutical Safety and Environmental Health Bureau, Ministry of Health, Labour and Welfare Jun 2016 Retired from Ministry of Health, Labour and Welfare Sep 2016 Specially Appointed Professor, Tokyo Medical and Dental University (currently Institute of Science Tokyo) Apr 2022 Counselor, Tokyo Medical and Dental University Jun 2024 Director of the Company (current) Sep 2024 Retired as Counselor, Tokyo Medical and Dental University
1958-05-28
Tomohiko OONO
Director
Apr 1978 Joined Chubu Electric Power Co., Inc. Jul 2005 Executive Officer, Tokyo Branch Manager Jul 2007 Managing Executive Officer, Nagoya Branch Manager Jun 2009 Director, Senior Managing Executive Officer, General Manager, Sales Division Jun 2011 Representative Director, Executive Vice President and Executive Officer Apr 2017 Director Jun 2017 Representative Director, President and Executive Officer, Toenec Corporation Apr 2021 Director, Advisor, Toenec Corporation Jun 2021 Advisor, Toenec Corporation Jun 2024 Special Advisor, Chubu Electric Power Co., Inc. (current) Jun 2025 Outside Director, Yahagi Construction Co., Ltd. (current) Jun 2026 Director of the Company
1954-12-18
Tsuyoshi OGASAWARA
Director, Audit and Supervisory Committee Member
Apr 1977 Joined Tokai Bank, Ltd. (currently MUFG Bank, Ltd.) Jan 2006 Executive Officer, General Manager, Comprehensive Risk Management Department, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (currently MUFG Bank, Ltd.) Jun 2008 Managing Director, The Bank of Tokyo-Mitsubishi UFJ, Ltd. May 2011 Senior Managing Director; in charge of Compliance Division (Chief Compliance Officer), The Bank of Tokyo-Mitsubishi UFJ, Ltd. Jun 2012 Deputy President, Representative Director, The Bank of Tokyo-Mitsubishi UFJ, Ltd.; stationed in Chubu Jun 2016 Senior Advisor, The Bank of Tokyo-Mitsubishi UFJ, Ltd. Jun 2017 Chairman and Representative Director, Misonoza Theater Co., Ltd. (current) Jun 2018 Advisor, MUFG Bank, Ltd. (current) May 2020 Outside Director, Takihyo Co., Ltd. (current) Jun 2021 Director, Audit and Supervisory Committee Member of the Company (current) Jun 2024 Outside Audit & Supervisory Board Member, Nagoya Railroad Co., Ltd. (current) Jun 2024 Outside Audit & Supervisory Board Member, Chubu-Nippon Broadcasting Co., Ltd. (current)
1953-08-01
Toshimichi KONDO
Director, Audit and Supervisory Committee Member
Sep 1979 Joined Marunouchi Accounting Office Audit Corporation (currently Deloitte Touche Tohmatsu LLC) Mar 1983 Registered as Certified Public Accountant Jan 1985 Left Marunouchi Accounting Office Audit Corporation Established Kondo Toshimichi Accounting Office (currently Oobanto Tax Accountants Corporation) (current) Registered as Certified Tax Accountant Jun 2023 Director, Audit and Supervisory Committee Member of the Company (current)
1955-02-03
Ayako SHIMIZU
Director, Audit and Supervisory Committee Member (Note 5)
Apr 1999 Registered as Attorney-at-law; joined Ishihara Law Office (currently Ishihara Sogo Law Office) (current) Apr 2015 Vice President, Aichi Bar Association; Director, Chubu Bar Federation Apr 2020 Ombudsman Committee Member, Nagoya Television Broadcasting Co., Ltd. (current) Jun 2020 Outside Director, Aica Kogyo Company, Limited (current) Jun 2024 Director, Audit and Supervisory Committee Member of the Company (current) Apr 2025 Member, Nagoya City Personal Information Protection Council (current) Jun 2025 Outside Audit & Supervisory Board Member, Aichi Electric Co., Ltd. (current)
1972-06-06
Large Shareholding Reports
Silchester International Investors LLP
2026-09-09
8.25%→9.27%
Silchester International Investors LLP
2026-03-24
7.13%→8.25%
Silchester International Investors LLP
2025-07-14
6.13%→7.13%
Silchester International Investors LLP
2025-05-21
5.07%→6.13%
Silchester International Investors LLP
2025-03-24
5.00%→5.07%
Silchester International Investors LLP
2025-02-12
5.00%
Silchester International Investors LLP
2024-11-18
5.16%→3.38%
Silchester International Investors LLP
2024-10-25
6.17%→5.16%
Silchester International Investors LLP
2024-07-30
7.23%→6.17%
Silchester International Investors LLP
2024-02-21
8.29%→7.23%
Silchester International Investors LLP
2023-12-07
9.32%→8.29%
Silchester International Investors LLP
2023-11-13
10.38%→9.32%
Silchester International Investors LLP
2023-09-29
11.40%→10.38%
Silchester International Investors LLP
2023-05-12
12.41%→11.40%
Silchester International Investors LLP
2023-04-05
11.17%→12.41%
Silchester International Investors LLP
2022-10-28
9.20%→11.17%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-09
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-22
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-03-24
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-13
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-07-14
Large Shareholding Report
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-05-21
Large Shareholding Report
EDINET
2025-03-24
Large Shareholding Report
TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2025-02-12
Large Shareholding Report
EDINET
2024-11-18
Large Shareholding Report
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2024-10-25
Large Shareholding Report
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-07-30
Large Shareholding Report
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-21
Large Shareholding Report
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-07
Large Shareholding Report
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-11-13
Large Shareholding Report
EDINET
2023-09-29
Large Shareholding Report
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-27
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-05-12
Large Shareholding Report
EDINET
2023-04-05
Large Shareholding Report
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
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