Pickles Holdings Co., Ltd.

Pickles Holdings Co., Ltd.

TTSE:2935
1,146.00
JPY
-3.00
(-0.26%)
82.44EPS
12.17P/E
12.87BMarket Cap
Dec 17Next Earn
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
3,200.68
3,451.84
3,338.26
3,273.25
3,345.73
Basic EPS, GAAP
88.73
94.26
77.03
110.7
85.07
Free Cash Flow per Basic Share
61.05
141.83
-311.09
302.11
- -
Dividend per Share
19.96
22.14
35.86
28.87
- -
Book Value per Share
1,383.13
1,466.67
1,516.6
1,599.27
1,510.81
Tangible Book Value per Share
1,346.33
1,440.46
1,501.64
1,593.2
1,490.23
Basic Weighted Avg Shares
13
12
12
13
12
Sales/Revenue/Turnover
41,052
43,028
41,518
40,923
41,611
Operating Margin (%)
3.75
3.88
3.08
5.1
3.62
Depreciation Expense
1,041
1,017
1,103
1,239
- -
Net Income, GAAP
1,138
1,175
958
1,384
1,058
Effective Tax Rate (%)
31.11
33.93
26.74
34.05
31.21
Profit Margin (%)
2.77
2.73
2.31
3.38
2.54
Working Capital
3,992
5,954
2,869
4,971
4,256
LT Debt
539
1,634
2,176
2,366
936
Total Equity
17,403
18,252
18,883
20,052
18,801
Return on Invested Capital (%)
- -
5.23
4.1
5.76
4.69
Return on Capital (%)
- -
5.69
4.3
5.97
4.91
Return on Common Equity (%)
- -
6.59
5.16
7.12
5.76

Capital Structure

JPY

•

in mil. unless spec.
Feb'24
May'25
Aug'25
ST Debt
1,505
1,664
2,548
LT Borrowings
1,628
1,921
914
LT Finance Leases
6
24
22
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
12
12
12
Market Capitalization
14,763
14,800
12,872

Working Capital

JPY

•

in mil. unless spec.
Feb'24
May'25
Aug'25
Total Current Assets
12,622
13,796
14,917
Cash, Cash Equivalents & STI
7,754
8,155
8,322
Accounts Receivable, Net
4,119
4,783
5,738
Inventories
662
761
803
Total Current Liabilities
6,668
7,507
10,661
Payables & Accruals
- -
- -
- -
ST Debt
1,505
1,664
2,548
Deferred Revenue
- -
- -
- -

Growth Rates

JPY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
6.19%
Free Cash Flow
- -
- -
-197.62%
Net Income, GAAP
- -
- -
44.47%
Sales/Revenue/Turnover
- -
- -
-1.43%
Total Cash Common Dividend
- -
- -
-19.06%

Quarterly Revenue

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
10,812
10,882
- -
- -
41,518
2026
- -
- -
- -
- -
40,923
2027
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
29.11
35.06
- -
- -
77.03
2026
- -
- -
- -
- -
110.7
2027
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

JPY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
35.86
2026
- -
- -
- -
- -
28.87
2027
- -
- -
- -
- -
- -

Company Description

CEO
Naoji Kageyama
Full Time Employees
411
Sector
Consumer non-durables
Industry
Food: specialty/candy
Address
7-8 Higashisumiyoshi Tokorozawa ST Japan 359-1124
IPO Date
Sep 1, 2022
Business
Pickles Holdings Co., Ltd. (2935.T) serves as the holding company for a group primarily engaged in the manufacture and sale of pickled vegetables, light pickles, side dishes, and related food products in Japan. Through its subsidiaries, the company produces light pickles, asazuke (lightly pickled vegetables), rice kimchi, prepared foods, side dishes, seasonings, and products utilizing lactic acid bacteria; it also operates e-commerce platforms, restaurants, retail outlets, and agricultural businesses to support its core offerings. Founded in 1977 and headquartered in Tokorozawa-shi, Saitama, the company focuses on the consumer staples sector, targeting retail, foodservice, and direct-to-consumer markets across Japan with approximately 414 employees. The Pickles Corporation Group segment drives the majority of operations, encompassing production, sales of pickles and side dishes, and ancillary activities like distribution and innovation in fermented products. Its product portfolio emphasizes fresh, ready-to-eat items suited for Japanese cuisine, including tsukemono varieties and value-added seasonings, distributed through supermarkets, convenience stores, and online channels. In recent developments, Pickles Holdings listed on the Tokyo Stock Exchange Prime Market on September 1, 2022, marking a significant transition from its operating subsidiary structure to a unified holding company model. The company collaborated with Hotei Foods in August 2024 to launch a co-branded grilled chicken canned product featuring its kimchi expertise. For fiscal 2026 ending February 2026, it reported strong interim results with net sales up 2.9% and operating profit surging 40.5% year-over-year, driven by price adjustments on key products, optimized sales terms, and cost controls; it also upwardly revised full-year guidance in late 2025 citing stabilized raw material procurement and improved production efficiency. Additionally, it announced an increased dividend payout, reflecting enhanced shareholder returns amid robust profitability.