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Shoei Pharmaceuticals Research Memo (8): Aiming for a dividend payout ratio of 25% or more. Introducing shareholder benefits.
As a basic policy for shareholder returns, Showa Yakuhin Co., Ltd. <3537> aims to "ensure internal reserves necessary for future business development while continuing to implement stable dividends." Basically, the target dividend payout ratio is over 25% based on the net income per share for the previous fiscal year. Based on this policy, the company has implemented an annual dividend of 36.0 yen (dividend payout ratio of 25.4%) for the fiscal year ending March 2023, as well as an annual dividend of 38.0 yen (dividend payout ratio of 26.3%) for the fiscal year ending March 2024. A decrease in net income is expected for the fiscal year ending March 2025.
Sho Ei Pharmaceutical Research Memo (7): Aiming for growth through expansion into final consumer goods manufacturers.
■Medium- to long-term growth strategy 1. Overview of medium- to long-term growth strategy Shoei Yakuhin <3537> aims to achieve growth based on two axes: pursuit of business synergy and domestic and international synergy, and pursuit of a concentrated market deepening model. Business synergy aims to expand revenue by leveraging the expertise in the core chemical business to develop new products in the daily necessities business and civil engineering construction material business. In the pursuit of a concentrated market deepening model, we apply a business model focused on oleochemicals and surfactants.
Shoei Pharmaceuticals Research Memo (5): In the March 2024 term, there will be a decrease in revenue and profit due to the decline in the palm oil market, but gross profit will reach an all-time high.
For the fiscal year ending in March 2024, Shokei Yakuhin <3537> achieved a revenue of 22,595 million yen (down by 7.9% from the previous year), operating profit of 440 million yen (down by 9.8%), ordinary profit of 651 million yen (down by 3.2%), and net income attributable to parent company shareholders of 491 million yen (up by 1.5%).
Shoei Pharmaceuticals Research Memo (4): Information power as a specialized trading company specializing in Oreochimical is our greatest strength.
The company's greatest strengths are its advanced specialization and overwhelming information capabilities.
Shoei Pharmaceutical Research Memo (3): Develop three businesses including chemicals, daily necessities, and civil engineering construction materials.
■Company Overview 2. Overview of Operations Showa Yakuhin <3537> operates in three segments: the 'Chemicals Business', 'Daily Necessities Business', and 'Civil Engineering and Construction Materials Business'. The sales ratio for each segment (actual performance for the year ended March 2024) was 90.8% for the Chemicals Business, 3.3% for the Daily Necessities Business, and 5.9% for the Civil Engineering and Construction Materials Business. (1) Chemicals Business The chemicals primarily handled by the Company are known as Oreochemicals, which are chemical products using plant-derived natural oils and fats as raw materials.
Choei Pharmaceutical Research Memo (2): Started in 1937 with a wholesale business of chemicals.
Company Overview: 1. History. Shouei Chemicals <3537> has a long history, founded in 1937 as Tetsuno Shouten for the purpose of wholesale trade in chemicals. Initially, it started with handling inorganic chemical drugs and started its first step as a specialized trading company of Oleochemicals by starting to sell fatty acids and fatty acid derivatives of Kao Soap Co., Ltd. (now Kao <4452>) in April 1951. In March 1960, the organization was reorganized into a corporation and changed its name to its current name. In the same June, it became a subsidiary.
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