各案件を、会社自身の開示資料に照らして4つの観点(約束は具体的か、実行の経過を追えるか、経済性を説明しているか、目標に対する結果を報告しているか)で確認しています。評価方法 →
経営計画・資本政策の見直し/2025-05-12
実施中
公表資料を発表・実施・結果の順に記録しています。この表示は選定した案件の調査状況であり、会社全体の評価ではありません。
出典資料1 ・ 出典資料2
25-27 Medium-term Management Plan: growth investment and an ¥80 dividend floor
Mochida set FY2027 and FY2031 targets with cumulative R&D of ¥36bn and capex of ¥5-10bn, and a dividend of at least ¥80 a share. FY2025 sales and profit rose toward the FY2027 targets; the outcome is not due.
時系列と出典(2件・内容は原文)
- 2025-05-12Plan announced FY2027 net sales ¥120bn, operating profit ¥12bn and EBITDA plus R&D ¥26.5bn (FY2031: ¥140bn, ¥21bn, ¥35.5bn); cumulative R&D ¥36bn and capex ¥5-10bn over FY2025-FY2027; a dividend of at least ¥80 and flexible buybacks. 出典資料1
- 2026-05-15First plan year reported Net sales ¥117.0bn and operating profit ¥10.1bn; ROE 5.8%; cash fell to ¥31.1bn after ¥16.8bn of investing outflow. 出典資料1
経営陣が表明したこと
The 25-27 plan targets FY2027 sales of ¥120bn and operating profit of ¥12bn, with ¥36bn of R&D, ¥5-10bn of capex and a dividend of at least ¥80.
会社の開示資料による ・ 出典資料1
実際に行ったこと・時期
FY2025 sales of ¥117.0bn and operating profit of ¥10.1bn are reported, without a plan-progress table.
一部開示(不足あり) ・ 出典資料1
経済性について開示したこと
Investment envelopes are stated; no ROE number or return hurdle.
一部開示(不足あり) ・ 出典資料1
その後の経過
The FY2027 result is not due.
一部開示(不足あり) ・ 出典資料1
残る論点
Investor question: what ROE is the plan aiming for, and what did the FY2025 investing outflow buy? IR preparation: publish an ROE target and an allocation tracker.
当調査の分析(会社の説明ではありません)
約束は具体的か4/5Sales, profit, EBITDA+R&D, R&D, capex and the dividend floor are quantified and dated; the ROE aim has no number.
実行の経過を追えるか3/5The plan and FY2025 results are dated; the reviewed sources do not set FY2025 against the plan or explain the investing outflow.
経済性を説明しているか3/5R&D and capex envelopes are quantified; returns and the use of surplus cash are not.
目標に対する結果を報告しているか時期未到来The FY2027 outcome is not due.
自己株式取得/2026-03-30
実施中
公表資料を発表・実施・結果の順に記録しています。この表示は選定した案件の調査状況であり、会社全体の評価ではありません。
出典資料1 ・ 出典資料2 ・ 出典資料3
¥2.0bn share repurchase announced with a secondary offering by two pharmaceutical shareholders (2026)
On the day it announced a secondary offering of 1,153,600 shares bought from Taisho Pharmaceutical Holdings and Sumitomo Pharma, the board resolved to repurchase up to 530,000 shares (1.50%) and ¥2.0bn between 18 May and 18 December 2026. By 30 September 325,900 shares had been bought for ¥1,054,903,000.
時系列と出典(2件・内容は原文)
- 2026-03-30Repurchase and offering resolved Up to 530,000 shares and ¥2.0bn by market purchase, 18 May to 18 December 2026; no reason is stated in the notice. Same day: secondary offering of 1,153,600 shares from Taisho Pharmaceutical Holdings and Sumitomo Pharma. 出典資料1(英文は日本語版と同日。日本語版 2026-03-30) ・ 出典資料2(英文は日本語版と同日。日本語版 2026-03-30)
- 2026-09-30(公表 2026-10-01)Monthly status 57,400 shares bought in September for ¥186,619,000; cumulative 325,900 shares and ¥1,054,903,000 (61% of the share limit, 53% of the value limit). 出典資料1(英文は日本語版と同日。日本語版 2026-10-01)
経営陣が表明したこと
Mochida resolved to repurchase up to 530,000 shares (1.50%) and ¥2.0bn between 18 May and 18 December 2026, on the day it announced a secondary offering of 1,153,600 shares bought from Taisho Pharmaceutical Holdings and Sumitomo Pharma.
会社の開示資料による ・ 出典資料1(英文は日本語版と同日。日本語版 2026-03-30) ・ 出典資料2(英文は日本語版と同日。日本語版 2026-03-30)
実際に行ったこと・時期
By 30 September 2026 it had bought 325,900 shares for ¥1,054,903,000, reported monthly.
会社の開示資料による ・ 出典資料1(英文は日本語版と同日。日本語版 2026-10-01)
経済性について開示したこと
The repurchase notice states no purpose and no expected effect on returns.
一部開示(不足あり) ・ 出典資料1(英文は日本語版と同日。日本語版 2026-03-30)
その後の経過
The period has not ended.
一部開示(不足あり) ・ 出典資料1(英文は日本語版と同日。日本語版 2026-10-01)
残る論点
Investor question: what is the repurchase for, and is it sized to the shares released by the offering? IR preparation: state the purpose and the treatment of the treasury shares.
当調査の分析(会社の説明ではありません)
約束は具体的か4/5The share and value limits, the share of capital, the period and the method are stated; the notice gives no purpose.
実行の経過を追えるか5/5Monthly status notices give each month's shares and cost with cumulative totals against the resolution.
経済性を説明しているか1/5No reason, return or capital-efficiency case is given, and the repurchase notice does not mention the same-day secondary offering.
目標に対する結果を報告しているか時期未到来The repurchase period runs to 18 December 2026.
買収/2026-03-30
完了
公表資料を発表・実施・結果の順に記録しています。この表示は選定した案件の調査状況であり、会社全体の評価ではありません。
出典資料1 ・ 出典資料2
Acquisition of the URECE approval and related assets from FUJI YAKUHIN for ¥13.5bn (2026)
Mochida agreed to take over the Japanese approval and related assets of URECE, a gout and hyperuricemia treatment it already distributed, for ¥13.5bn, with execution scheduled for 30 June 2026; the first-quarter report records the succession in June 2026.
時系列と出典(2件・内容は原文)
- 2026-03-30Acquisition agreed ¥13.5bn for the approval, patents and trademarks of URECE (sales about ¥4.6bn in the year to March 2025), to be recorded as intangible assets; execution scheduled for 30 June 2026; FUJI YAKUHIN continues to manufacture. 出典資料1(英文は日本語版と同日。日本語版 2026-03-30)
- 2026-06-30(公表 2026-08-03)Succession recorded The first-quarter report notes succession to the URECE approval in June 2026; long-term prepaid expenses rose from ¥5,068m to ¥18,340m while intangible assets fell to ¥1,046m; URECE sales were ¥1.7bn in the quarter against a ¥7.3bn full-year forecast. 出典資料1(英文は日本語版と同日。日本語版 2026-08-03)
経営陣が表明したこと
Mochida agreed to buy the URECE approval, patents and trademarks from FUJI YAKUHIN for ¥13.5bn to secure supply of a product it already distributed, with execution on 30 June 2026.
会社の開示資料による ・ 出典資料1(英文は日本語版と同日。日本語版 2026-03-30)
実際に行ったこと・時期
The first-quarter report notes the succession in June 2026; no separate completion notice was found in English.
一部開示(不足あり) ・ 出典資料1(英文は日本語版と同日。日本語版 2026-08-03)
経済性について開示したこと
The notice gives the price and about ¥4.6bn of prior-year product sales; no margin, amortisation or return is disclosed, and the June balance sheet shows the payment under long-term prepaid expenses.
一部開示(不足あり) ・ 出典資料1(英文は日本語版と同日。日本語版 2026-03-30) ・ 出典資料2(英文は日本語版と同日。日本語版 2026-08-03)
その後の経過
URECE sales were ¥1.7bn in the first quarter against a ¥7.3bn full-year forecast; no target tied to the acquisition was set.
一部開示(不足あり) ・ 出典資料1(英文は日本語版と同日。日本語版 2026-08-03)
残る論点
Investor question: what return does ¥13.5bn earn, and why is it held as a prepaid expense? IR preparation: publish the accounting treatment, amortisation and expected profit contribution.
当調査の分析(会社の説明ではありません)
約束は具体的か4/5Price, assets, timetable, accounting treatment and reason are stated; there is no financial target for the acquired product.
実行の経過を追えるか3/5Execution is confirmed only by a pipeline footnote in the first-quarter report; there is no completion notice in the English news list, and the balance sheet change does not match the treatment the March notice described, without explanation.
経済性を説明しているか2/5Price and the product's prior-year sales are given; margin, amortisation, expected return and funding are not.
目標に対する結果を報告しているか時期未到来No target was set to report against; product sales are reported quarterly (¥1.7bn in the first quarter against a ¥7.3bn forecast).