■Company Overview
1. Company Overview
Pharma Foods ＜2929＞ is a biotechnology company aiming for “Pharma Foods” (Pharma Foods) consisting of a fusion of “pharmaceuticals” (Pharmaceuticals) and “foods” (Foods), with a basic management policy to contribute to people's health. Using “immunity,” “aging,” and “nerves,” the three elements involved in life activity and health maintenance, we are searching for ingredients that function as 3 elements from familiar materials such as eggs, milk, green tea, rice, lactic acid bacteria, etc., and using unique technology based on scientific evidence, we are creating food ingredients that clearly have functions useful for maintaining health and improving quality of life (Quality of Life) (Quality of Life).
As of the end of the 2nd quarter of the 2024/7 fiscal year, the head office is located in Nishikyo Ward, Kyoto City, and the group consists of the company and 5 consolidated subsidiaries (Pharma Foods Communication Co., Ltd., Future Lab Co., Ltd., Medilab Co., Ltd., Meiji Pharma Co., Ltd.), PF Capital Co., Ltd., and 2 affiliated companies applying the equity method (Benart Co., Ltd.) and Onkyo Co., Ltd.). Pharma Foods Communication performs call center operations for the BtoC business, Future Lab and Medilab sell cosmetics, Meiji Pharmaceutical manufactures and sells pharmaceuticals and quasi-drugs, and PF Capital (which took over the CVC management company in 2022/5 and made it a subsidiary) operates the PF Visionary Fund Investment Limited Partnership (formed in January 2023). Total assets as of the end of the second quarter of the fiscal year ending 2024/7 are 37,020 million yen, net assets are 9,202 million yen, the capital adequacy ratio is 24.9%, and the number of issued shares is 29,079,000 shares (including 1,006,767 treasury shares).
2. HISTORY
The company was established in 1997/9 as Pharma Foods Research Institute Co., Ltd. for the purpose of developing and selling functional food ingredients, and the trade name was changed to Pharma Foods Co., Ltd. in 2004/10. As for the main functional material products, the GABA-containing material “Pharma Gaba (R)” was launched in 2001/9, the mail-order brand “Egg Base (R)” was launched in 2012/8, the supplement “tamagosamine (R)” containing “iHA (R)” was launched, and the quasi-drug “pneumo (R) hair growth agent” containing “HGP (R)” (Hair Growth Peptide)” was sold in 2018/11, respectively.
Regarding the M&A alliance, we entered into the hearing aid business by forming a capital and business alliance with Sanyo Chemical Industries (4471) in March 2021, a capital and business alliance with Rohto Pharmaceutical (4527) in July of the same year, invested in I Brain Science Co., Ltd., which develops cognitive function diagnosis applications, made Meiji Pharmaceutical a wholly owned subsidiary, and formed a business alliance with Onkyo in December of the same year (undertaking a third-party allotment of shares and making it an equity law-related company).
In 2022/4, the bioscience business (proteome analysis business) of Antegral Co., Ltd., which boasts the highest level of domestic experience and technical capabilities in protein analysis, was taken over by absorption split, and in July of the same year, ENEGGO Co., Ltd., which manufactures liquid fertilizer derived from eggs, was jointly invested with ENEOS Holdings ＜5020＞. In December of the same year, three companies, FPT Digital Retail Joint Stock Company (hereafter, FRT), which has the major Vietnamese pharmacy chain “Long Chau Pharmacy” (hereafter, Long Chau Pharmacy), and Sato Connect Gate Joint Stock Company by VTM Group (hereafter, SCG) signed a memorandum of understanding to establish a joint venture for a health food manufacturing plant in Vietnam It was concluded.
Also, in 2023/3, a capital and business alliance was formed with LB Co., Ltd., which has strengths in manufacturing yogurt and lactic acid bacteria drinks, a business alliance was formed with Takara Bio ＜4974＞ in July of the same year, and took over the healthcare mail order business of Daicel ＜4202＞ in September of the same year.
In terms of stocks, the stock was listed on the Tokyo Stock Exchange (hereinafter, Tokyo Stock Exchange) Mothers in 2006/6, the market was changed to the 2nd section of the same market in 2016/12, designated as the 1st section of the same market in 2022/2, and transitioned to the prime market due to the Tokyo Stock Exchange market classification review in 2022/4.
(Author: FISCO Visiting Analyst Masashi Mizuta Exhibition)