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1. 2002
2. SR Inc
3. DIC TOKAI
4. a
5. 2013 1 2015 1 Ld gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved eva gt 7956 SR Research Report 2014 3 20 40
6. gt s Shar ed esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved s Shared 10 1 11 1 12 1 13 1 20 891 23 266 24 333 27 744 39 1 40 8 41 1 42 7 4 604 4 547 5 043 7 086 8 6 8 0 8 5 10 9 EBITDA 6 414 6 487 6 875 8 903 EBITDA 12 0 11 4 11 6 13 7 5 3 5 1 5 4 7 0 ROA 7 3 7 1 7 4 9 9 ROE 11 4 11 2 11 8 15 5 137 2 138 9 136 8 141 0
7. esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved gt Shared Gesearah http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 7956 SR Research Report 2014 3 20 SR Double Heart PIGEON SINGAPORE PTE LTD PIGEON MALAYSIA TRADING SDN BHD
8. DINKS 2014 1
9. mOmmal mOmma 2010 PIGEON SINGAPORE PTE LTD 2009 11 PIGEON INDIA PVT LTD 2013 1 2010
10. rLr SR 1991 2004 2014 1 1 2
11. 22 30 9 44 3 44 5 90 51 3 52 69 45 4 E 45 8 11 7 11 59 30 7 29 8 374 8 5 116 11 9 13 7 13 4 119 17 1 37 7 1
12. 2014 1 8 5 1 5 8 7 SR 2014 1 245 2 4 31 6 45 896 34 1 0 14 0 Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved a Shared eva gt 7956 SR Research Report 2014 3 20 yz dm x az gt T SR 024
13. 2011 8 12 2007 8 Shared 6 eva gt 7956 SR Research Report 2014 3 20 2014 1 66 3 3 8 5
14. 2014 1 2 48 49 3 13 1 10 3 47 73 0 16 8 8 0 8 E 2 9 2 54 7 A z Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 46 64 we eva gt 7956 SR Research Report 2014 3 20 2014 1 2
15. 50 409 10 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved eva gt 7956 SR Research Report 2014 3 20 SR 2014 1 385 42 9 49 7 52 69 102 59 3 2014 1
16. 25 Ld a gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved eva gt 7956 SR Research Report 2014 3 20 5 3 6 HERT 45 45 90 88 49 3 Ld a e Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e SR Research Report 2014 3 20 15 1 14 1 36 622 40 843 77 465 17 3 20 6 19 0 20 436 22 556 42 992 16 186 18 287 34 473 22 2
17. 2012 SR 2014 1 67 0 3 8 7 29 89 2 1 a Shared csearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 7956 SR Research Report 2014 3 20 2
18. a a Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 28 64 eva gt 7956 SR Research Report Ld a gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 2014 3 20 1949F S 1954 F 1956 R 8 1962
19. II 2014 1 5 Weaknesses 2013 1
20. 5 Pigeon Way Pursuing world class business excellence think globally plan agilely and implement locally Vision 2016 5 3 2018 1 6 3 509
21. 209 259 SR 2 3 5 2008 1 2 196 2013 1 2 5 esearch http www sharedresearch jp
22. 2014 1 6 3 5 5 SR 224 58 9 61 16 8 1 5 a A gt Shared Research gt http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved eva gt 7956 SR Research Report 2014 3 20 54 47 7 LANSINOH LABORATORIES INC 21 12 8
23. SR GCA a o Shared Research kd http www sharedresearch jp
24. 2014 1 110 2014 1 19 2 1 45 2014 1 57 2011 1 27 8H 2012 1 14 2013 1 17 2014 1 32 2011 1 mOmma 3 4 2012 1 IZ Mt HealthQuestLtd 3 9 2013 1 2014 1 104 5H 82 18 27 95 50 71
25. 24 3 2013 1 195 36 8 40 20 12 4 45 45 4 8 67 14 3 27 3 4 2 3 23 2 3 30 1 3 60 1 3
26. 2010 17 2011 19 JETRO 2009 34 2013 1 41 2012 1 200 2014 1 2000 2 2010 32
27. 80 IE 1 2502 AVENT NUK chicco evenflo AVENT medela 64 0 53 79 62 9 2011 F a Ld gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Ld gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved eva gt 7956 SR Resea
28. FA 2009 1 2010 1 2011 1 2012 1 2013 1 7 009 3 587 1 150 1 007 1 608 SR 2008 1 2011 1 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved a gt Shared Gewearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved eva gt 7956 SR Research Report 2014 3 20 10 1 11 1 12 1 13 1
29. 509 50 2014 1 PIGEON SINGAPORE PTE LTD 2014 1 eva gt 7956 SR Research Report 2014 3 20 PEA REOBEDAZUIZO PEDO REL ARA O RENE LO
30. 1 92 00 79 8 1 14 80 A 12 66 2014 1 77 200 76 600 10 200 9 000 10 700 9 300 6 500 ADA 5 600 2014 1 3 575 19 9 Y 186 3 5 49 E 3 7 50 1 19 281 45 0
31. 2 39 2 1 42 5 35 1 84 92 1 13 3 14 8 2 28 5 200 24 4 4 7 11 24 8 29 1 2 1 24
32. 1950 A 1951 1952 1957 1966 1969 1 4 5
33. 2002 PES 2003 4 PPSU 2007 2010 a eva gt 7956 SR Research Report 2014 3 20 TS J F 4 R 8 W 8 am S a A E dona 9 e ki S do Sa Py ROMO 19495 19544 19564 19624 19654 dE 17573 TPES RIA FLUAJ A A H lt 1977 1982 2000 2002 2003 JN B t 3z y y E E sm 2007 2010
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36. 2014 1 1 1 5 2 2 2015 1 25 100 2014 1 SR earth friendly 7 mOmma
37. M amp A 2014 1 Do M amp A mOmma
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40. SR Tnc SR Inc 3 31 12 03 5834 8787 http www sharedresearch p Email info Osharedresearch jp P Copyright C 2013 Shared Research Inc All Rights Reserved 64 64
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42. 2015 5 000 421 15 6 7c8 3 2 3 1 000 2011 12 4 150 2011 25 2 700 2011 1 89 CDC 400 Ld a gt
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44. SR Tnc Shared Researcn SR Inc SR Inc SR Inc SR Inc
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46. 10 eva gt 7956 SR Research Report 2014 3 20 10 2014 1 2014 1 3 84 55 1 14 6 11 3 81 E 71 5 27 1 2 3 8 10
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48. 2015 1 4 1 3 2 45 509 3 ROE219 ROIC159 2015 1 18 5496 2015 1
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50. 3 8 10 3 2 1 7 158 59 9 49 22 8 40 44 9 16 17 9 12 39 6 2
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52. 1 5 8 93 49 6 30 27 3 26 43 59 10 20 79 11 21 79 2 9 5 2013 10
53. 2 formalin 58 64 a A gt Shared Research gt http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved eva gt 7956 SR Research Report 2014 3 20 1975 1993 1995 2 1997 1 1990
54. 2009 1 ARO 2 9 2013 1 6 29 2009 1 6 59 5 2013 1 6 89 2009 1 2014 1 8 309 13 49 38 09 42 79 09 1 10 1 11 1 12 1 13 1 1 616 1 604 1 748 1 782 1 969 1 539 1 725 3 328 3 336 4 042 3 434 3 736 3 904 4 116 4 205 297 316 289 311 335 4 66 10 10 100 257 260 274 271 285 24 39 26 33 38 1 129 1 211 1 359 1 497 1 621 7 596 7 343 7 796 7 919 8 280 15 895 16 299 18 734 19 276 20 675 SR http w
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58. 1996 FHE 2002 2006 2009 2012 1 102 2004 2010 mOmma 2011 earth friendly baby 2009 2013 7 amp 2013 7 2013 7 8 PIGEON INDIA PVT LTD
59. 12 72 9 26 7 73 7 41 2 54 2 24 2 09 1 94 9 1 91 1 61 SR 2 2013 1 1950 1969 1985
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