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TMS

TMS Co., Ltd

Company highlights

The largest holder on the register is 大和日台バイオベンチャー投資事業有限責任組合, at 9.0%.

Key figures

Period Mar 2025 to Dec 2025

RevenueDisclosed —
Operating marginCalculated Could not be retrieved
Net assets to total assetsCalculated 96.7%

Company profile

Securities code 4891 / EDINET code E37069 / Pharmaceuticals / Fiscal year end December 31

府中市府中町一丁目９番地京王府中１丁目ビル１１階／Capital stock ¥100 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Company details
若林 拓朗 Representative

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Mar 2025 to Dec 2025) · filed 2026-03-30

Profitability Could not be retrieved
Growth Could not be retrieved
Capital efficiency ★☆☆☆☆position among all companies -25.9%

Business activities and revenue composition

Revenue and profit by business segment

Disclosed segments (business divisions used in reporting): one

Revenue and profit

Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Research and development expenses ¥0.5 billion Parent only
Fee expenses ¥60.82 million Parent only
Directors' compensations ¥57.87 million Parent only
Payrolls and allowances ¥25.66 million Parent only
Profit by stage Ordinary income ¥-0.7 billion Parent only
Operating income ¥-0.7 billion Parent only

TMS

Selling, general and administrative expenses

Period Mar 2025 to Dec 2025Source Annual securities reports

Research and development expenses ¥0.5 billion (76.0%)76%Fee expenses ¥0.1 billion (10.1%)10%Directors' compensations ¥0.1 billion (9.6%)10%Payrolls and allowances ¥0.0 billion (4.3%)¥0.6B
  • Research and development expenses　¥0.5 billion
  • Fee expenses　¥0.1 billion
  • Directors' compensations　¥0.1 billion
  • Payrolls and allowances　¥0.0 billion

Performance, financial position and capital allocation

Finance
96.7% Net assets to total assets Industry median 69.7% FY ending 12/2025 · consolidated / calculated
¥60.14 Net assets per share
¥2.9 billion Total assets

TMS

Recent performance trends

Source Annual securities reports

1 0 -0 -1 4 years ago 3 years ago 2 years ago Last year This year Ordinary income ¥ billion

Year-on-year comparison

Period 2021 to 2025Disclosed

Item20212022202320242025
Operating revenue ¥1.9B Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved
Year on year (%) Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved
Ordinary income (loss) ¥1.1B -¥0.9B -¥0.9B -¥0.6B -¥0.7B
Change from prior year Could not be retrieved profit to loss◆ 1.10x 0.67x comparison basis not confirmed
Ordinary income (loss) as a share of Operating revenue 55.4% Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved
Change (percentage points) Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved

Fiscal periods marked for changes

  • 2022Ordinary income (loss) profit to loss

TMS

Earnings and net assets per share over time

Unit yenSource Annual securities reports

53 27 0 -26 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 102 68 34 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

TMS

Return on equity over time

Unit %Source Annual securities reports

60 31 1 -28 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Parent only indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Operating revenue ¥1.9 billion Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved
Ordinary income (loss) ¥1.1 billion ¥-0.9 billion ¥-0.9 billion ¥-0.6 billion ¥-0.7 billion
Net income (loss) ¥1.1 billion ¥-0.9 billion ¥-1.0 billion ¥-0.7 billion ¥-0.7 billion
Capital stock ¥0.1 billion ¥1.2 billion ¥1.5 billion ¥1.5 billion ¥1.1 billion
Total number of issued shares (common stock) 33,102,080 shares 36,574,880 shares 40,304,367 shares 40,330,067 shares 45,485,767 shares
Net assets ¥2.5 billion ¥3.7 billion ¥3.5 billion ¥2.8 billion ¥2.8 billion
Total assets ¥2.7 billion ¥3.8 billion ¥3.6 billion ¥3.0 billion ¥2.9 billion
Net assets per share 74.1 yen 101.55 yen 85.48 yen 69.23 yen 60.14 yen
Basic earnings (loss) per share 53.36 yen -25.28 yen -26.02 yen -16.38 yen -16.08 yen
Equity-to-asset ratio 89.5% 98.0% 96.9% 92.1% 95.5%
Return on equity 60.2% -27.9% -26.8% -23.7% -25.9%
Net cash provided by (used in) operating activities ¥1.3 billion ¥-0.7 billion ¥-0.8 billion ¥-0.5 billion ¥-0.8 billion
Net cash provided by (used in) investing activities ¥-16.96 million ¥-13.72 million ¥-3.36 million ¥-30.84 million ¥-2.54 million
Net cash provided by (used in) financing activities ¥0.2 billion ¥1.7 billion ¥0.7 billion ¥0.92 million ¥0.6 billion
Cash and cash equivalents ¥2.6 billion ¥3.6 billion ¥3.4 billion ¥2.9 billion ¥2.8 billion

Shareholder composition

As of 2025-12-31Disclosed

Share ownership by holder category

11,107 Shareholders
3.57% Foreign holders (total) Industry median 9.03%
79.97% Individuals and others Industry median 55.96%

TMS

Unit %Source Annual securities reports

  • Financial institutions0.25%
  • Securities firms9.65%
  • Other corporations6.57%
  • Foreign holders (institutions)3.32%
  • Foreign holders (individuals)0.25%
  • Individuals and others79.97%

Major shareholders

RankShareholderShareholding ratioShares held
1 大和日台バイオベンチャー投資事業有限責任組合 9.03% 4,107,920
2 ＴＨＶＰ－１号投資事業有限責任組合 6.25% 2,845,860
3 株式会社新日本科学 3.15% 1,433,320
4 楽天証券株式会社 2.9% 1,320,900
5 株式会社ＳＢＩ証券 2.78% 1,268,401
6 山本 哲郎 2.14% 975,000
7 蓮見 惠司 1.76% 804,000
8 富永 隆寛 1.53% 700,000
9 ニッセイ・キャピタル９号投資事業有限責任組合 1.46% 664,380
10 ＢＮＹ ＧＣＭ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴ ＪＰＲＤ ＡＣ ＩＳＧ （ＦＥ－ＡＣ）（常任代理人 株式会社三菱ＵＦＪ銀行） 1.18% 539,800

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 1 years (FY 2025)Disclosed

¥0.5 billion Research and development
Not disclosed Capital expenditure

Revenue scale in the same industry

Revenue of this company: not retrieved (no comparison)

Workforce information

Source: Annual Securities Report (Mar 2025 to Dec 2025)Parent-onlyDisclosed

18 Employees (parent only) Industry median 94
45.8 Average age Industry median 44.3
4.4 years Average length of service Industry median 9.6 years
¥8.29 million Average annual salary Industry median ¥8.24 million
People and organisation
¥-38.72 million Operating income per employee
2 Average temporary staff

Audit and disclosure information

Annual securities report, year ended 2025-12-31Disclosed

ItemValue
Audit firm 仰星監査法人
Audit fees (this year, filing company) ¥16.50 million
Non-audit fees (this year, filing company) ¥0.47 million
Going concern note Cannot be determined
Accounting standard Japanese GAAP

See the book series →

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (14 items)

ItemValueConsolidated / Non-consolidated
Net cash provided by (used in) operating activities ¥-0.8 billion Parent only
Net income (loss) ¥-0.7 billion Parent only
Net cash provided by (used in) investing activities ¥-2.54 million Parent only
Cash and cash equivalents ¥2.8 billion Parent only
Total number of issued shares (common stock) 45,485,767 shares Parent only
Net assets ¥2.8 billion Parent only
Ordinary income (loss) ¥-0.7 billion Parent only
Total assets ¥2.9 billion Parent only
Return on equity -25.9% Parent only
Equity-to-asset ratio 95.5% Parent only
Net cash provided by (used in) financing activities ¥0.6 billion Parent only
Capital stock ¥1.1 billion Parent only
Basic earnings (loss) per share -16.08 yen Parent only
Net assets per share 60.14 yen Parent only

Employees (5 items)

ItemValueConsolidated / Non-consolidated
Average length of service (years) 4.4 years Parent only
Average annual salary ¥8.29 million Parent only
Average age (years) 45.8 years old Parent only
Number of employees 18 people Parent only
Number of employees 18 people Parent only

Other disclosed items (3 items)

ItemValueConsolidated / Non-consolidated
Average number of temporary employees 2 people Parent only
Average number of temporary employees 2 people Parent only
Total return on the share price index 92.4% Parent only

Shares (6 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 14,659,581 shares Consolidated
Number of shares 45,485,767 shares Consolidated
Shareholding ratio 32.2% Consolidated
Number of voting rights 454,774 units Consolidated
Number of issues 1 issues Consolidated
Total shareholder return 20.8% Parent only

Research and development (1 items)

ItemValueConsolidated / Non-consolidated
Research and development expenses ¥0.5 billion Consolidated

Audit (2 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥16.50 million Consolidated
Fees for non-audit services - reporting company ¥0.47 million Consolidated

Balance sheet (33 items)

ItemValueConsolidated / Non-consolidated
Other ¥1.75 million Parent only
Other ¥3.77 million Parent only
Other capital surplus ¥0.9 billion Parent only
Retained earnings ¥-0.7 billion Parent only
Prepaid expenses ¥18.74 million Parent only
Advance payments trade ¥29.27 million Parent only
Non-current assets ¥1.75 million Parent only
Tools, furniture and fixtures ¥97.39 million Parent only
Buildings ¥3.94 million Parent only
Investments and other assets ¥1.75 million Parent only
Subscription rights to shares ¥35.83 million Parent only
Property, plant and equipment ¥0 Parent only
Consumption taxes receivable ¥34.37 million Parent only
Income taxes payable ¥5.02 million Parent only
Accrued expenses ¥69.00 million Parent only
Accounts payable - other ¥16.35 million Parent only
Shareholders' equity ¥2.7 billion Parent only
Current liabilities ¥94.15 million Parent only
Current assets ¥2.9 billion Parent only
Accumulated depreciation ¥-0.1 billion Parent only
Cash and cash equivalents ¥2.8 billion Parent only
Cash and deposits ¥2.8 billion Parent only
Net assets ¥2.8 billion Parent only
Net assets ¥2.8 billion Parent only
Total assets ¥2.9 billion Parent only
Retained earnings brought forward ¥-0.7 billion Parent only
Treasury stock ¥-2,000 Parent only
Liabilities ¥94.15 million Parent only
Liabilities and net assets ¥2.9 billion Parent only
Supplies ¥0.12 million Parent only
Capital surplus ¥2.3 billion Parent only
Legal capital surplus ¥1.4 billion Parent only
Capital stock ¥1.1 billion Parent only

Statement of income (28 items)

ItemValueConsolidated / Non-consolidated
Other ¥0 Parent only
Other ¥1.46 million Parent only
Operating income ¥-0.7 billion Parent only
Non-operating income ¥0.03 million Parent only
Non-operating expenses ¥14.61 million Parent only
Net cash provided by (used in) operating activities ¥-0.8 billion Parent only
Operating expenses ¥0.7 billion Parent only
Net income (loss) ¥-0.7 billion Parent only
Net income (loss) ¥-0.7 billion Parent only
Directors' compensations ¥57.87 million Parent only
Net cash provided by (used in) investing activities ¥-2.54 million Parent only
Fee expenses ¥60.82 million Parent only
Issuance of new shares ¥0.7 billion Parent only
Issuance cost of subscription rights to shares-NOE ¥10.56 million Parent only
Stock issuance cost ¥2.59 million Parent only
Income taxes - current ¥0.79 million Parent only
Income taxes ¥0.79 million Parent only
Impairment loss ¥3.71 million Parent only
Extraordinary loss ¥3.71 million Parent only
Net increase (decrease) in cash and cash equivalents ¥-0.1 billion Parent only
Research and development expenses ¥0.5 billion Parent only
Income (loss) before income taxes ¥-0.7 billion Parent only
Income (loss) before income taxes ¥-0.7 billion Parent only
Ordinary income ¥-0.7 billion Parent only
Payrolls and allowances-SGA ¥25.66 million Parent only
Net cash provided by (used in) financing activities ¥0.6 billion Parent only
Interest on tax refund ¥0.01 million Parent only
Miscellaneous income ¥0.01 million Parent only

Accounts unique to this company (4 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥0.2 billion Parent only
Revenue ¥10.56 million Parent only
Revenue ¥-67.17 million Parent only
Revenue ¥-9.20 million Parent only

Statement of changes in equity (2 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥-44.36 million Parent only
Net changes in items other than shareholders' equity ¥12.23 million Parent only

Statement of cash flows (17 items)

ItemValueConsolidated / Non-consolidated
Increase decrease in other assets liabilities ¥-17.80 million Parent only
Interest and dividends income received ¥0 Parent only
Decrease (increase) in advance payments to suppliers ¥16.62 million Parent only
Interest and dividend income ¥0 Parent only
Subtotal ¥-0.7 billion Parent only
Proceeds from exercise of share acquisition rights ¥0.6 billion Parent only
Purchase of property plant and equipment ¥-2.54 million Parent only
(Increase)/decrease in consumption tax/value-added tax receivables ¥12.18 million Parent only
Increase/(decrease) in accounts payable - expenses ¥-31.34 million Parent only
Increase (decrease) in accounts payable-other ¥-7.41 million Parent only
Stock issuance cost ¥2.59 million Parent only
Share-based payment expenses ¥18.03 million Parent only
Decrease (increase) in inventories ¥0.28 million Parent only
Income taxes paid ¥-0.95 million Parent only
Depreciation ¥0.26 million Parent only
Impairment loss ¥3.71 million Parent only
Increase (decrease) in provision for bonuses ¥-4.20 million Parent only
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥-0.8 billion Parent onlyDisclosed
Number of employees 18 Parent onlyDisclosed
Net assets ¥2.8 billion Parent onlyDisclosed
Operating income ¥-0.7 billion Parent onlyDisclosed
Ordinary income ¥-0.7 billion Parent onlyDisclosed
Total assets ¥2.9 billion Parent onlyDisclosed
Operating margin Not disclosedNot applicableNot calculated (a required value is not disclosed)
Net margin Not disclosedNot applicableNot calculated (a required value is not disclosed)
Sales per employee Not disclosedNot applicableNot calculated (a required value is not disclosed)
Total asset turnover Not disclosedNot applicableNot calculated (a required value is not disclosed)
Net assets to total assets 96.7%Parent onlyCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Net assets to total assets 96.7%　Net assets ÷ total assets 　＝ ¥2.8 billion ÷ ¥2.9 billion
    Net assets ÷ total assets. The denominator is Total assets (Parent only, Japanese GAAP).

Company details

  • Representative　President, Representative Director, gBizINFO

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets　Net assets ÷ total assets
  • Net assets per share　Parent only
  • Total assets　Parent only

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Pharmaceuticals that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years.

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Industry median: the middle value among companies in Pharmaceuticals that disclose the item (industries with at least 5 companies only).

People and organisation

  • Operating income per employee　Operating income ÷ employees
  • Average temporary staff　Parent only, average headcount other than regular employees

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of TMS Co., Ltd on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 5013401006469 / Accounting standard: Japanese GAAP

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork