T.HASEGAWA CO.,LTD. (4958) Stock Price

Hasegawa Fragrance manufactures and sells fragrances as its core business, offering a wide range of products from fragrance ingredients for cosmetics to food flavoring and essences for beverages and confectionery. The company possesses in-house development capabilities including formulation design and prototyping, and manages the entire value chain from raw material procurement through manufacturing to sales.

Its primary customers are consumer goods manufacturers including cosmetic makers, household product manufacturers, and beverage and food manufacturers, with product sales as the main revenue driver. In addition to its domestic operations, the company has established local subsidiaries in China, Southeast Asia, and the United States, diversifying its revenue base through regional sales offices.

The business is divided into two segments: the Fragrance Division and the Food Division. The Fragrance Division handles fragrance ingredients and cosmetic materials for perfumes and cosmetics. The Food Division offers a lineup including essences, oil-based, emulsified, and powdered flavoring agents, seasonings, processed fruit products, and natural colorants, providing customers with tailored product solutions and commercialization support.

The company aims for mid-to-long-term consolidated revenue growth of 3.0% or higher annually, with targets of 11.0% operating margin and 12.0% ordinary income margin on consolidated sales by September 2028. Recent consolidated results show revenue growth of 2.6%, while operating margin stands at 11.6% and ordinary income margin at 12.6%, approaching target levels. The company seeks to enhance corporate value through improved capital efficiency and stable profit returns. Building a resilient organization capable of adapting to changing business environments and strengthening long-term partnerships with customers form the foundation for growth.

Priority investment areas include research and technology development in food and fragrance sectors. In food, the company focuses on developing flavorings that preserve taste for low-sugar, low-salt, and low-fat products, as well as flavorings supporting food resource alternatives. In fragrance, it aims to expand domestic market share through new scent development emphasizing safety and stability. On the research side, under the Business Solutions Division coordinating with sales and marketing, the company clarifies priority areas to accelerate R&D speed and strengthen fundamental research capabilities, positioning integrated development from prototyping to formulation design as a competitive differentiator.

Global expansion is the cornerstone of new market development and business growth, with concentrated resources in the United States, China, and Southeast Asia. In the United States, the company plans to realize early synergies in sales and manufacturing between T. HASEGAWA U.S.A. and ABELEI, consolidated as a subsidiary in September 2024. In China, a production base established in Pinghu in December 2024 strengthens supply capacity. In Southeast Asia, the company consolidated Hoàng Anh in Vietnam in November 2025 and is advancing new factory construction in a Malaysian industrial park, combining local production, marketing, and quality services to expand market share.

Technology innovation efforts span both manufacturing facilities and research laboratories. Factory restructuring and equipment upgrades improve productivity and reduce manufacturing costs while simultaneously reducing environmental impact through odor control and greenhouse gas reduction. Collaborative research leveraging external expertise and intellectual property, along with on-site testing at application labs, shorten development cycles. By rapidly bringing differentiated products to market, the company aims to solve customer challenges and achieve sustainable growth.