NIITAKA Co., Ltd.
4465・Standard Market・Chemicals
Business
Niitaka Co., Ltd. is a commercial-use sanitary chemical manufacturer founded in 1963, operating two business segments: the Chemical Business (approximately 94% of net sales), which primarily serves restaurants, food factories, food supermarkets and similar customers, and the Healthcare Business (approximately 6% of net sales), which develops the lactic acid bacteria fermented food product "OM-X." In the Chemical Business, the company offers a broad range of products and services including dishwashing detergents, dishwasher cleaning agents, Alcohol Preparations, Solid Fuel, and sanitation services, and is strengthening its presence in the commercial sanitation market on the back of the widespread implementation of the HACCP system and rising sanitation awareness. The company is listed on the Standard Market of the Tokyo Stock Exchange, and conducts business as a group including 11 affiliated companies.
Business Model
Building on product manufacturing at its own factories (Biwako Plant, Tsukuba Plant, etc.), the company sells directly to restaurants, food factories, and similar customers through its nationwide network of sales offices. By combining service businesses such as Dishwasher Maintenance & Sanitation Services, sanitation patrol services, and bacterial testing, it builds ongoing relationships with customers. In the Healthcare Business, it markets "OM-X" through domestic e-commerce and overseas sales channels, achieving a high operating margin (18.7%).
Company Strengths
Since its founding in 1963, the company has specialized in the manufacture and sale of Commercial-use Detergents & Cleaning Agents, disinfectants, and Solid Fuel, building a deep customer base in the food service and food industries. Against a backdrop of the establishment of the HACCP system and rising hygiene awareness, Chemical Business sales for FY2025 (ended May 2025) reached ¥22,229 million, up 4.4% year on year.
The Healthcare Business, centered on the lactic acid bacteria fermented food product OM-X (Lactic Acid Bacteria Fermented Food), achieved sales of ¥1,486 million and an operating margin of 18.7% in FY2025 (ended May 2025). Overseas sales expansion, mainly in Europe and the United States, has progressed, and production volume increased 17.1% year on year, strengthening the supply system.
As of the end of FY2025 (ended May 2025), cash and cash equivalents stood at ¥6,490 million against interest-bearing debt of only ¥1,944 million, maintaining a substantial net cash position. The equity ratio stood at 65.3% (up 6.4 percentage points year on year), reflecting an extremely sound financial foundation.
ENVALITH's Perspective
Performance Trend
Revenue bottomed out at ¥19,504 million in FY2023 (ended May 2023) and has continued to expand since, reaching ¥24,619 million in FY2026 (ending May 2026) (up 3.8% year on year), a record-high level. Operating profit improved substantially for three consecutive periods, from ¥855 million in FY2023 (ended May 2023) to ¥2,118 million in FY2026 (ending May 2026), with the operating profit margin reaching 8.6% (versus 8.1% in the previous period). Tailwinds from the steady performance of the food service market (an external factor) drove increased detergent demand from major restaurant chains, price revisions, and cost reductions, all of which pushed up the profit margin. Meanwhile, FY2027 (ending May 2027) is expected to see a turn to profit decline, with operating profit projected at ¥1,800 million (down 15.0% year on year) due to rising raw material costs, labor costs, and logistics costs (external factors), suggesting the possibility of entering a plateau phase in growth.
Growth Strategy
The company aims for medium-term expansion through three pillars: deepening existing businesses, developing new channels, and revitalizing growth in the Healthcare Business
Accelerating the development and sales expansion of labor-saving, high value-added detergents that address labor shortage and food poisoning prevention needs. Continuing to develop new channels such as dental and agriculture to diversify sales channels away from dependence on the food service industry. In FY2026 (ending May 2026), Chemical Business sales reached ¥23,267 million (up 4.7% year on year), showing steady progress.
In response to rising raw material costs, logistics costs, and labor costs, the policy is to minimize the impact of the external environment by combining price revisions with cost reductions. In FY2026 (ending May 2026), the Chemical Business operating profit margin improved to 8.2% (from 7.4% in the previous period), but a decline in profit is expected in FY2027 (ending May 2027) due to increased regulatory compliance costs and other factors, requiring continued efforts.
Domestically, strengthening measures to reduce churn rate among subscription customers in e-commerce, acquire new customers, and promote cross-selling. Overseas, advancing new product development, distributor development, and expansion into new countries in the cosmetics field in the US and Europe to build a medium- to long-term growth foundation. Currently, revenue and profit continue to decline due to cooling consumer sentiment from price increases, and the challenge is to realize the results of these measures.
The basic policy is to maintain dividends with a dividend on equity (DOE) ratio of 3% or more. In FY2026 (ending May 2026), the year-end dividend was increased by ¥1, resulting in an annual dividend of ¥77 (dividend payout ratio of 24.0%). An annual dividend of ¥84 is planned for FY2027 (ending May 2027). A share buyback was also resolved at the Board of Directors meeting on July 13, 2026, demonstrating a stance of strengthening shareholder returns.
Last updated: July 17, 2026