# Sumitomo Pharma Co., Ltd.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第206期(2025/04/01－2026/03/31) (S100YH3M)
> Page: https://vizora.meequs.com/en/company/sumitomo-pharma
> Retrieved: 2026-09-30T20:25:00.028Z

## Company

Sumitomo Pharma, founded in 1897, is a company in Pharmaceuticals listed on TSE Prime. It has 3,123 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Sumitomo Pharma Co., Ltd. |
| Ticker | 4506 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4506.T) |
| Listing | TSE Prime |
| Head office | 大阪市中央区道修町二丁目6番8号 |
| Representative (per filing) | 代表取締役社長 木村徹 |
| Founded | May 1897 |
| Share capital | ¥22.4B |
| Employees (consolidated) | 3,123 |
| Average salary (parent only) | ¥9.1M |
| Fiscal year end | March |
| Website | www.sumitomo-pharma.co.jp (https://www.sumitomo-pharma.co.jp/) |
| Corporate number | 3120001077477 |
| EDINET | E00922 |
| Industries (Vizora) | Pharmaceuticals |

> Profile source: annual securities report (S100YH3M, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Pharmaceuticals (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 97.7 | 22 |
| Cash conversion | 36.1 | 18 |
| Efficiency | 64.1 | 32 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 75% of Sumitomo Pharma's sales come from North America, with Japan and Asia making up much of the rest.
- Out of every ¥100 of sales, about ¥24 is left as operating profit.
- Revenue changed +13.7% from the prior year, operating profit +272.6%.

## Company structure

- Segment revenue mix: North America 74.5%、Japan 20.4%、Asia 5.1%
- Revenue → net income: ¥453294000000 → ¥106865000000
- Net income → operating cash flow: ¥106865000000 → ¥71715000000（difference ¥-35150000000）
- Main uses of operating cash flow: CapEx ¥7312000000 / dividends ¥2000000 / buybacks —
- Change in cash: ¥8022000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥453.3B |  |
| Operating income | ¥107.3B | Margin 23.7% |
| Net income | ¥106.9B | Margin 23.6% |
| Free cash flow | ¥64.4B |  |
| Largest business | North America | of segment revenue 74.5% |
| Employees (consolidated) | 3,123 |  |
| EPS | ¥268.99 |  |
| Book value per share | ¥689.23 |  |
| Equity ratio | 36.4% | Derived from disclosed figures |
| Shares outstanding | 397,900,000 |  |
| Treasury shares | 611,100 |  |
| Shareholders | 94,491 |  |
| Average salary (parent only) | ¥9.1M | Filing company only |
| Cash ratio | 5.5% | Cash ÷ revenue 9.8% |
| Vs. industry median margin | +16.5 pp | Pharmaceuticals |
| ROE | 46.3% | Derived from disclosed figures |
| ROA | 13.8% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -19% while operating income rose 273%
- FY2026, one segment accounts for 78% of positive segment profit

## What changed in 7 years

| Metric | FY ending Mar 2019 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥459267000000 | ¥453294000000 | -1.3% |
| Cash and equivalents | ¥137296000000 | ¥44310000000 | -67.7% |

### Change in segment revenue mix

Span: FY ending Mar 2019 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → 日本 | 20.4% |
| 新設・再編 → 北米 | 74.5% |
| 新設・再編 → アジア | 5.1% |

Segment revenue source references: 3 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| North America | — | — | ¥337923000000 | 22.4% | 2 |
| Japan | — | — | ¥92365000000 | 13.4% | 2 |
| Asia | — | — | ¥23006000000 | 41.1% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 453,294 | 100.0% | S100YH3M |
| Cost of revenue | 196,401 | 43.3% | S100YH3M |
| Gross profit | 256,893 | 56.7% | S100YH3M |
| SG&A | 162,557 | 35.9% | S100YH3M |
| Operating income | 107,338 | 23.7% | S100YH3M |
| Pretax income | 100,344 | 22.1% | S100YH3M |
| Income tax | -6,521 | -1.4% | S100YH3M |
| Net income | 106,865 | 23.6% | S100YH3M |
| Net income attributable to owners | 106,865 | 23.6% | S100YH3M |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 43 |
| SG&A | 36 |
| Other operating | -3 |
| Operating income | 24 |
| (Ref.) Net income | 24 |

### Margin funnel

Gross margin 56.7% → Operating margin 23.7% → Net margin 23.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +13.7%; Core profit growth: +272.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 19.97×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 398,832 | 453,294 | 54,462 | +13.7% |
| Gross profit | 245,395 | 256,893 | 11,498 | +4.7% |
| Operating income | 28,804 | 107,338 | 78,534 | +272.6% |
| Net income attributable to owners | 23,634 | 106,865 | 83,231 | +352.2% |
| Operating cash flow | 16,500 | 71,715 | 55,215 | +334.6% |
| Free cash flow | 3,470 | 64,403 | 60,933 | +1756.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 408,357 | — | — | 31,316 | 19,143 | — | S100LN0R |
| FY ending Mar 2018 | 466,838 | — | — | 53,448 | 93,420 | — | S100O9PO |
| FY ending Mar 2019 | 459,267 | — | — | 48,627 | 48,711 | — | S100R4NL |
| FY ending Mar 2022 | 560,035 | — | — | 56,413 | 31,239 | — | S100YH3M |
| FY ending Mar 2023 | 555,544 | — | — | -74,512 | 11,937 | — | S100YH3M |
| FY ending Mar 2024 | 314,558 | — | — | -314,969 | -241,893 | — | S100YH3M |
| FY ending Mar 2025 | 398,832 | 28,804 | 7.2% | 23,634 | 16,500 | 3,470 | S100YH3M |
| FY ending Mar 2026 | 453,294 | 107,338 | 23.7% | 106,865 | 71,715 | 64,403 | S100YH3M |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥145.1M |
| Operating income per employee (consolidated) | ¥34.4M |
| Net income per employee (consolidated) | ¥34.2M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | — | — | — | 3,832 | 3,123 |
| Average salary (parent company) | — | — | — | ¥7.1M | ¥9.1M |
| Average age (parent company) | — | — | — | 43.7 years | 44.5 years |
| Average tenure (parent company) | — | — | — | 18.4 years | 18.9 years |

Year over year: Employees (consolidated) -18.5% · Revenue (consolidated) +13.7%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 92,365 | 20.4% | 12,352 | 13.4% |
| North America | 337,923 | 74.5% | 75,742 | 22.4% |
| Asia | 23,006 | 5.1% | 9,452 | 41.1% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 20.4% | 12.7% | -7.7 | 13.4% |
| North America | 74.5% | 77.6% | 3.1 | 22.4% |
| Asia | 5.1% | 9.7% | 4.6 | 41.1% |

Segment → industry: Asia → Pharmaceuticals / North America → Pharmaceuticals / Japan → Pharmaceuticals

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 71,715 | 15.8% | S100YH3M |
| Capital expenditure | 7,312 | 1.6% | S100YH3M |
| Free cash flow | 64,403 | 14.2% | 算出 |
| Investing cash flow | 22,549 | 5.0% | S100YH3M |
| Financing cash flow | -91,266 | -20.1% | S100YH3M |
| Dividends paid | 2 | 0.0% | S100YH3M |
| Change in cash | 8,022 | 1.8% | S100YH3M |
| Cash and equivalents | 44,310 | 9.8% | S100YH3M |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 202,984 | 143,478 | 29,047 | 23,116 | 44,310 | S100YH3M |
| Total assets | 1,308,007 | 1,134,742 | 907,506 | 742,604 | 804,571 | S100YH3M |
| Net assets | — | — | 156,136 | 169,479 | 292,467 | S100YH3M |
| Share capital | — | — | — | 22,400 | 22,400 | S100YH3M |
| Property, plant and equipment | — | — | — | 46,648 | 44,231 | S100YH3M |
| Goodwill | — | — | — | 197,406 | 211,098 | S100YH3M |
| Current assets | — | — | — | 253,168 | 279,252 | S100YH3M |
| Total liabilities | — | — | — | 573,125 | 512,104 | S100YH3M |
| Equity attributable to owners of parent | — | — | — | 169,479 | 292,467 | S100YH3M |
| Retained earnings | — | — | — | 46,784 | 158,981 | S100YH3M |
| Treasury stock | — | — | — | -682 | -684 | S100YH3M |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 6% | S100YH3M |
| Property, plant and equipment | 5% | S100YH3M |
| Intangibles and goodwill | 26% | — |
| Other assets | 63% | S100YH3M |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 64% | S100YH3M |
| Equity | 36% | S100YH3M |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 1,308,007 | 1,134,742 | 907,506 | 742,604 | 804,571 |
| Equity | — | — | 156,136 | 169,479 | 292,467 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 202,984 | 143,478 | 29,047 | 23,116 | 44,310 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 9.8% | S100YH3M |
| Fixed assets ÷ total assets | 5.5% | S100YH3M |
| Goodwill ÷ parent equity | 72.2% | S100YH3M |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 5.5% |
| Cash ÷ revenue | 9.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 66.8% |
| Cash vs. profit gap | -35,150 JPY mn (of net income -32.9%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 0.0% |
| Shareholder payments — dividends / FCF | 0.0% |
| CapEx intensity (capex ÷ revenue) | 1.6% |
| Investing CF relative to operating CF | 31.4% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | — | —× | 4.3% | —× | — | S100YH3M |
| 2023 | — | —× | -6.1% | —× | — | S100YH3M |
| 2024 | — | —× | -30.8% | —× | — | S100YH3M |
| 2025 | 5.9% | 0.48× | 2.9% | 4.87× | 13.9% | S100YH3M |
| 2026 | 23.6% | 0.59× | 13.8% | 3.35× | 46.3% | S100YH3M |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 住友化学株式会社 | Major shareholder | 51.8% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 6.3% | 2026-03-31 |
| 株式会社SMBC信託銀行（株式会社三井住友銀行退職給付信託口） | Major shareholder | 1.8% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.6% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.5% | 2026-03-31 |
| BNYM AS AGT/CLTS 10 PERCENT（常任代理人株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.1% | 2026-03-31 |
| 稲畑産業株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| THE BANK OF NEW YORK, TREATY JASDEC ACCOUNT（常任代理人株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.0% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 0.9% | 2026-03-31 |
| J.P. MORGAN BANK LUXEMBOURG S.A. 381593（常任代理人株式会社みずほ銀行決済営業部） | Major shareholder | 0.8% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for FY ending Mar 2026 was ¥453.3B, up +13.7% from ¥398.8B.
- Profit grew much faster than sales: operating income rose from ¥28.8B to ¥107.3B (+272.6%), and net income attributable to owners from ¥23.6B to ¥106.9B (+352.2%).
- Operating cash flow also climbed +334.6% to ¥71.7B, and free cash flow reached ¥64.4B.

### Drivers

- Sales of Orgovyx and Gemtesa grew in North America, and the company booked a sales milestone payment for Orgovyx
- Restructuring, including job cuts, and the reorganization of the regenerative and cell medicine business lowered SG&A and R&D costs
- A gain from selling part of its stake in the Asia business was booked as other income

### Risks

- Sales rely heavily on Orgovyx and Gemtesa in North America, so new competitors or generics could cut revenue
- Drugs in development may not reach approval or launch as planned
- Drug pricing curbs in Japan, the US and China could hurt results

Cited: Annual Securities Report, 206th fiscal period (Apr 2025 - Mar 2026) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report, 206th fiscal period (Apr 2025 - Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第206期(2025/04/01－2026/03/31) | S100YH3M | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YH3M,, |
| 有価証券報告書－第205期(2024/04/01－2025/03/31) | S100W63T | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W63T,, |
| 有価証券報告書－第203期(2022/04/01－2023/03/31) | S100R4NL | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4NL,, |
| 有価証券報告書－第202期(令和3年4月1日－令和4年3月31日) | S100O9PO | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O9PO,, |
| 有価証券報告書－第201期(令和2年4月1日－令和3年3月31日) | S100LN0R | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN0R,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| アルフレッサホールディングス | Alliance | 「マイスタン」の販売提携（アルフレッサファーマ） | S100YH29 |
| 大塚ホールディングス | Co-development | 大塚製薬が精神神経領域の新薬候補（ウロタロント等）の開発・販売権を得るライセンス契約 | S100XUA7 |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).