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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 Chemical Inc. <3537> aims to achieve growth through two axes: pursuit of business synergy and domestic and international synergy, and pursuit of a concentrated market deepening model for medium-to-long-term growth. Business synergy aims to expand revenue by utilizing the knowledge of core chemical businesses in the development of new products for daily goods businesses and civil engineering and construction materials businesses. In pursuit of a concentrated market deepening model, we will leverage our business model focused on oleo-chemicals 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.
In March 2024, Shouei Pharmaceutical's revenue was 22,595 million yen (7.9% decrease from the previous year), operating profit was 440 million yen (9.8% decrease), ordinary profit was 651 million yen (3.2% decrease), and net income attributable to parent company shareholders was 491 million yen (1.5% increase).
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. Business Overview The business of Shouei Pharmaceutical Co., Ltd. <3537> is disclosed in three segments: "Chemical Business," "Household Goods Business," and "Civil Engineering and Construction Materials Business." The sales ratio by each segment (actual result for the fiscal year ending March 2024) was 90.8% for the Chemical Business, 3.3% for the Household Goods Business, and 5.9% for the Civil Engineering and Construction Materials Business. (1) Chemical Business The chemicals mainly handled by the company are called Oleo Chemicals, which are chemical products made from natural oils and fats derived from plants.
Choei Pharmaceutical Research Memo (2): Started in 1937 with a wholesale business of chemicals.
Company Overview: 1. History: Shouei Yakuhin (3537) has a long history. It was founded in 1937 as Tetsuno Shouten for the purpose of wholesaling chemicals. Initially started with handling inorganic chemicals and other products, in April 1951, it took its first step as a specialized trading company for oleochemicals by starting to sell fatty acids and their derivatives of Kao Soap Co., Ltd. (now Kao (4452)). In March 1960, the organization was reorganized into a corporation, and the name of the company was changed to the current name. In the same June, it became a subsidiary of a new company.
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