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Scouting report · 9273.T

Toshiyuki Shuto

  • Representative Director & President (代表取締役社長), 9273.T since 2015-01src

Founded Koa Shoji in 1991; President of the holding company since 2015

—thin record

Not ranked yet

Scouting sheet

as of 24 Sep 2026
Delivers guidance—no promises on the record yet
Answers the question—no call reviewed yet
Capital allocation—company not reviewed yet
Pay design—no proxy read yet
Skin in the game—no holding or price on file
In the role
12 yr
Promises scored
0
Hit rate
—
Dodges / 100 answers
—
Airtime on calls
—
Every promise, oldest firstno scored promises yet

What to weigh

Watch 4

  • Founder-family control and succession: he has run the business since 1991, and his child is Executive Vice President. A group-wide officer change was reported (new President at Koa Shoji Co., Executive Managing Director Koyama leaving the board); the summary did not say his own role changessrc
  • Direct stake fell from 71.3% (2018-03) to 5.0% (2026-06). About 4.6m shares went to his own scholarship foundation, which he represents, so he still directs the votes on them; the cause of the other reductions was not locatedsrc
  • All inside-director pay is fixed plus a retirement-benefit provision: ¥154.3m fixed and ¥11.5m retirement benefit for six directors in the year to June 2026, with nothing linked to performancesrc
  • Capital allocation: ¥14.4bn of cash on a ¥39.5bn balance sheet and a 20.2% payout ratio in the year to June 2026, while construction in progress rose to ¥6.6bn (the new Zao plant)src

In their favour 1

  • Record net income in each of the last three fiscal years (¥2.95bn, ¥3.64bn, ¥3.75bn to June 2024, 2025, 2026)src

Career

  1. 2022-09 – now
    Koa Biotech Bay Co., Ltd. (group subsidiary)src
    Adviser (相談役)
  2. 2021-10 – now
    Shuto Scholarship Foundation (首藤奨学財団; public-interest foundation since)src
    Founder and Representative Director (代表理事)
  3. 2021-09 – now
    Koa Shoji Co., Ltd. (operating company, API imports)src
    Representative Director & Chairman
  4. 2018-09 – 2021-09
    Koa Shoji Co., Ltd.src
    Representative Director, Chairman & President
  5. 2018-09 – now
    Koa Isei Co., Ltd. (operating company, generic injectables)src
    Representative Director & Chairman
  6. 2016-09 – 2018-09
    Koa Isei Co., Ltd.src
    Representative Director, Chairman & President
  7. 2015-08 – 2022-09
    Koa Biotech Bay Co., Ltd. and Koa Seiyaku Co., Ltd. (now part of Koa Biotech Bay)src
    Representative Director & Chairman, also President 2018-09 to 2019-09 (Biotech Bay) and 2020-09 to 2021-09 (Koa Seiyaku)
    The yuho lists these as separate lines; the end date is when he became Adviser of Koa Biotech Bay
  8. 2015-01 – now
    Koa Shoji Holdings Co., Ltd.src
    Representative Director & President
  9. 2013-08 – 2018-09
    Koa Shoji Co., Ltd.src
    Representative Director & Chairman
  10. 2011-07 – 2016-09
    Isei Co., Ltd. (株式会社イセイ)src
    Director
    The yuho gives only the start; the end is not stated. Koa Isei Co. appears in his career from 2016-09
  11. 1995-08 – 2013-08
    Koa Shoji Co., Ltd.src
    Representative Director & President
  12. 1994-08 – 1995-08
    Koa Shoji Co., Ltd.src
    Representative Director & Executive Vice President
  13. 1991-02 – 1994-08
    Koa Shoji Co., Ltd.src
    Founder; Director
  14. 1975-03 – 1991-02
    Nippon Zambon Co., Ltd. (日本ザンボン)src
    Moved there from Montedison; posts not stated
  15. 1972-01 – 1975-03
    Nippon Montedison Co., Ltd. (日本モンテジソン)src
    Joined; posts not stated

Not located: Posts held at Montedison and Zambon (1972-1991) are not stated in the yuho career. The end of the Isei Co. directorship (from 2011-07) is not stated

Achievements

  • Founded Koa Shoji, an importer of active pharmaceutical ingredients for generic drugs, in February 1991 and has led it or its holding company ever sincesrc
  • President of the listed holding company since it was formed in January 2015; chairs both main operating companiessrc
  • Net income rose from ¥2.95bn (year to June 2024) to ¥3.75bn (year to June 2026), a record in each year, on revenue of ¥24.7bnsrc
  • Set up the Shuto Scholarship Foundation in October 2021 and is its representative director; the foundation reported an 11.61% stake in June 2022src

Background

  • Family Ritsuko Otsuka, Director & Executive Vice President of the holding company and President of Koa Shoji Co., is his childsrc
  • Founder Held 71.3% of the company in the first yuho table (2018-03) and 65.6% in 2019-06; 23.0% in 2020-06, 10.4% in 2022-06 and 5.0% in 2026-06src
  • Giving Founder and representative director of the Shuto Scholarship Foundation (general incorporated foundation 2021-10, later public-interest). It reported holding 4,600,000 shares (11.61%) on 2022-06-01, which matches the drop in his own holding between the 2021-06 and 2022-06 yuho tables (8.71m to 4.11m)src
  • Personal Says he first met generic drugs while studying in Canada around 1970 and later built a business on them with Japan's ageing in mindsrc
  • Other Chairs the two operating companies (Koa Shoji Co. and Koa Isei Co.) and advises Koa Biotech Bay, so he sits at the top of every main group entitysrc

The promise ledger

No promise on the record yet: the research routine has not scored this company's guidance.

Sources

9
  1. Web search result IRBANK officer page for 首藤利幸 (E34071): copies the yuho officer table (career 略歴, title and shares held by year, 2018-03 to 2026-06) from the yuho for the 12th period (FY 2025-07-01 to 2026-06-30). Fetched directly; EDINET and EDINET DB get_directors are out of reach · 2026-09-24
  2. Web search result IRBANK 'コーア商事 HD (9273) officer list': copies the yuho director tables (titles and shares held), yuho years 2018-03 to 2026-06. Fetched directly · 2026-09-24
  3. Web search result IRBANK 'コーア商事 HD (9273) director pay history': copies the yuho per-category director pay totals, FY 2018 to FY ended June 2026; no officer is listed as individually disclosed at ¥100m or more. Fetched directly · 2026-09-24
  4. Data connector EDINET DB get_director_compensation(edinet_code=E34071): FY ended 2026-06-30, inside directors excluding audit-committee members (6): fixed ¥154,325,000, retirement benefit ¥11,456,000, total ¥165,781,000; no performance-linked cash, bonus or share-based rows. FY ended 2025-06-30: fixed ¥152,375,000, retirement benefit ¥9,471,000, total ¥161,846,000
  5. Data connector EDINET DB get_financials(edinet_code=E34071, years=3): J-GAAP consolidated; FY ended 2026-06-30 (yuho S100Z2Z6, filed 2026-09-18) revenue ¥24,679m, net income ¥3,748.7m (flagged a record), cash ¥14,389m, construction in progress ¥6,589m, payout ratio 20.2%; FY ended 2025-06 net income ¥3,638.0m; FY ended 2024-06 revenue ¥22,134m, net income ¥2,946.3m
  6. Web search result WebSearch: コーア商事ホールディングス 首藤奨学財団 (summary of the Kabutan large-shareholding item of 2022-06-01: the public-interest foundation 首藤奨学財団, represented by 首藤利幸, reported crossing 5% and holding 11.61%, 4,600,000 shares) · 2026-09-24
  7. Web search result WebSearch: コーア商事ホールディングス 大塚里津子 取締役副社長 (summary: Ritsuko Otsuka, Director & Executive Vice President in charge of the API segment and President of Koa Shoji Co., is the child of President Toshiyuki Shuto. The summary did not say which result carried the line; top result was the Nikkei personnel notice) · 2026-09-24
  8. Web search result WebSearch: 首藤利幸 コーア商事 カナダ 留学 (summary: the founder studied in Canada around 1970, where generic drugs were already sold, and later started a generics business with Japan's ageing in mind. University not named; the summary did not attribute the passage to one result) · 2026-09-24
  9. Web search result WebSearch: Koa Shoji Holdings leadership shake-up (TipRanks summary of a group-wide officer change: Hideyuki Isoda to join the holding-company board and become President of Koa Shoji Co.; Executive Managing Director Toshinori Koyama to leave the board for an advisory role; date of the notice not shown) · 2026-09-24