TOWA PHARMACEUTICAL CO., LTD.
4553・Prime Market・Pharmaceuticals
Governance
Company with an Audit and Supervisory Committee (transitioned to this structure in 2019). The Board of Directors consists of 9 directors, including 4 outside directors (1 outside director who is not a member of the Audit and Supervisory Committee, and 3 outside directors who are members of the Audit and Supervisory Committee). A Nomination and Compensation Committee has been established, with independent outside directors comprising a majority of its members, ensuring objectivity and transparency in decision-making.
Risk Management
The company has established a Risk Management Committee headed by the Representative Director and President, promoting company-wide risk management based on the "Risk Management Basic Regulations." Climate change response is handled by the TCFD Subcommittee, with a system in place to report to the Board of Directors twice a year.
Shareholder Returns
Annual dividend for FY2026 (ending March 2026) is ¥80 per share (interim ¥40 + year-end ¥40), total dividends of ¥3,938 million, payout ratio of 75.0%, and DOE of 2.3%. FY2027 (ending March 2027) is forecast at ¥85 (interim ¥40 + year-end ¥45). Share buybacks are permitted under the Articles of Incorporation.
Dividend Policy
The basic policy is to pursue stable dividends while advancing further enhancement in consideration of profitability and financial condition, with decisions made based on a comprehensive assessment of the payout ratio and DOE (dividend on equity ratio). Dividends are paid twice a year, as an interim dividend and a year-end dividend. Retained earnings are utilized for capital expenditures, R&D investment, and other purposes. For FY2026 (ending March 2026), the annual dividend is ¥80 (payout ratio of 75.0%, DOE of 2.3%), and the FY2027 (ending March 2027) forecast is an annual dividend of ¥85 (payout ratio forecast of 19.5%).
ESG
On climate change response, based on TCFD disclosures, the company has set targets of a 30% reduction in Scope 1 and 2 emissions by FY2030 and carbon neutrality by 2050. In terms of human capital, it discloses a female manager ratio of 15.6% (targeting 17% by March 2028) and a paid leave utilization rate of 74.1%, and has been certified as an "Excellent Health & Productivity Management Corporation 2026" for the ninth consecutive year, advancing sustainability management on both the environmental and human resources fronts.
Last updated: June 22, 2026