MARUZEN PHARMACEUTICALS

What MARUZEN PHARMACEUTICALS does

Maruzen Pharmaceuticals Co., Ltd. (丸善製薬株式会社) is a privately held Japanese B2B ingredient manufacturer founded in 1938 in Onomichi, Hiroshima Prefecture, and operated under the Higurashi family across three generations. The company manufactures and sells plant-derived natural raw materials — anchored by licorice-derived glycyrrhizinic acid and related compounds developed in-house since 1958 — to three customer segments: pharmaceutical manufacturers (APIs, excipients, ophthalmic and injectable grades), cosmetics and personal-care manufacturers (200+ botanical extracts plus branded sub-lines such as Waism domestic plant series, Plantiage complexes, Pine Ceram, and Rotass Lift), and food and beverage manufacturers (licorice-based and stevia sweeteners, natural colorants, fermented ingredients such as ActivBody RB and Smart Lactic Acid Bacteria, Black Ginger extract, and pressure-enzyme oyster extract). Maruzen is not a consumer brand; end customers are B2B manufacturers who incorporate its ingredients into their own finished products.

Core technology centers on extraction and purification of bioactive compounds from natural plant sources, with deep specialization in licorice (甘草) processing, proprietary fermentation, and pressure enzyme-assisted extraction (e.g., oyster and barley extracts). Manufacturing infrastructure spans three production sites in Hiroshima Prefecture — the headquarters and Onomichi factory, the New Onomichi "convenience factory" (commissioned 2005) for small-lot multi-product runs, and the Miyoshi Factory (1985) — alongside the Comprehensive Research Institute in Fukuyama (consolidated 2000) and the ~75,000-tsubo Hisai Farm for experimental plant cultivation with closed-loop residue composting. Vertical integration extends offshore via the wholly-owned Maruzen Trading (Shanghai) Co., Ltd. (April 2007) for sales and procurement in China and ROOPRUN (Australia, 1989) for upstream licorice cultivation.

The business model is proposal-based B2B sales (提案型営業) executed through three dedicated divisions at the Tokyo branch — Food Sales, Pharmaceutical & Cosmetic Sales, and Overseas Sales — supported by an Osaka branch and a Special Sales unit for trading companies/OEM health-food product makers (since 2001). Revenue is generated via sale of ingredient lots under negotiated supply agreements; pricing is not publicly disclosed. For FY ending March 2027, the company reported ¥16.3 billion in revenue. The firm holds 468 employees and is funded internally (registered capital ¥98 million) with no external equity, PE/VC, or public-market exposure. Recent ESG positioning (EcoVadis Silver 2025, CDP B ratings 2024) supports buyer due diligence requirements in regulated export markets.

Name

MARUZEN PHARMACEUTICALS

Legal name

丸善製薬株式会社

Website

https://maruzenpcy.co.jp

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

251–500 employees

Short description

Maruzen Pharmaceuticals is a Japanese B2B ingredient manufacturer founded in 1938, producing plant-derived natural raw materials — particularly licorice-based extracts, botanical actives, sweeteners, and fermented food ingredients — for pharmaceutical, cosmetic, and food-industry manufacturers.

Ownership category

akta.pro rank

Product category

Plant-derived natural raw materials for pharmaceutical, cosmetic, and food industries

NAICS

Medicinal and Botanical Manufacturing (325411), Flavoring Syrup and Concentrate Manufacturing (31193), Fruit and Vegetable Preserving and Specialty Food Manufacturing (3114)

SIC

Medicinal Chemicals & Botanical Products (2833), Food And Kindred Products (2000), Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics (2840)

akta.pro primary industry

Flavor Houses & Compound Flavor Manufacturing (AFAJADAA)

akta.pro secondary industry

Medicinal Plant Farming (Botanical/Pharmaceutical Crops) (AFAGAGAE)

Keywords

• Plant-derived pharmaceutical ingredients
• Natural cosmetic raw materials
• Botanical extracts manufacturer
• Licorice processing ingredients
• Functional food additives

Headquarters

HQ city

Onomichi

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Pharmaceutical Raw Materials (API & Excipients): Manufacture and sale of active pharmaceutical ingredients (専用医薬品), pharmaceutical additives, and quasi-drug materials for pharmaceutical companies. Historical focus on licorice-derived compounds including glycyrrhizinic acid, glycyrrhetinic acid, and related derivatives.
2. Cosmetic & Personal Care Raw Materials: Supply of natural plant extract ingredients and active cosmetic components (医薬部外品原料) to cosmetics manufacturers. Includes the 和ism (Waism) domestic plant series and premium plant extracts.
3. Food Ingredients, Additives & Nutraceutical Materials: Sale of food additives (sweeteners, colorants, seasonings, preservatives), food raw materials, and health food ingredients to food processing companies. Includes licorice-based sweeteners, stevia derivatives, natural colorants, and functional food ingredients with health claims.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Maruzen Pharmaceuticals manufactures and sells plant-derived natural raw materials — including licorice-derived active pharmaceutical ingredients and excipients, botanical extracts for cosmetics, food additives (sweeteners, colorants, preservatives), and functional food ingredients — on a B2B basis to pharmaceutical, cosmetic, and food manufacturers. The company operates an integrated value chain spanning R&D, in-house cultivation at Hisai Farm, manufacturing at three production sites, and proposal-based sales through specialized Food, Pharmaceutical/Cosmetic, and Overseas Sales Divisions.

Product overview

Maruzen Pharmaceuticals is a Japanese raw material manufacturer specializing in plant-derived natural ingredients for the pharmaceutical, cosmetic, and food industries. The company operates as a B2B ingredient supplier, not a consumer product company. Their product portfolio centers on licorice-based ingredients (including sweeteners, glycyrrhizinic acid derivatives, and licorice extracts), expanded to include stevia sweeteners, natural food colorings, fermented ingredients (ActivBody RB, Smart Lactic Acid Bacteria), botanical extracts (Black Ginger, Oyster Extract), and cosmetic ingredients (和ism premium Japanese plant series, Pine Ceram ceramides, Plantage complex blends, Rotass Lift). These ingredients are supplied as functional food materials, cosmetic raw materials, and pharmaceutical excipients to manufacturers, with technical documentation and formulation support provided through their integrated product guide platform.

Differentiator

Problem solved

Functional benefit

Brands

• 和ism: Brand for domestic Japanese plant-based extracts, including products such as olive leaf, green tea, plum, and others sourced from Japanese agriculture.
• プランテージ
• スマート乳酸菌
• アクティボディ
• サンカノン
• ブライトニングパイン

Products and services

• Glycyrrhizin-Based Sweeteners (グリチミン series) Licorice root extract-based natural sweeteners used across food applications including soy sauce, miso, and condiments, with sweetness intensity ranging from approximately 25 to 250 times that of sugar.
• Stevia Sweeteners (ステビア, マルミロン series) High-intensity natural sweeteners derived from stevia leaves, with sweetness ranging from approximately 10 to 120 times that of sugar, available in various formulations including enzyme-treated αGスイート variants.
• Natural Food Colorings (マルカラー, ゼットカラー series) Plant-derived colorings including gardenia red, beet red, paprika, cochineal, and curcumin producing red, yellow, blue, green, brown, and black colors with various stability profiles for food applications.
• Glycyrrhizinic Acid Products (グリチルリチン酸 series) High-purity glycyrrhizinic acid, dipotassium glycyrrhizinate, monoammonium glycyrrhizinate, and glycyrrhetinic acid derivatives derived from licorice root, serving as active ingredients for pharmaceutical and quasi-drug applications.
• 和ism (Wa-ism) Series Premium domestic Japanese plant extract series including Uji tea, Kyoto matcha, citrus fruits, olive leaf, and traditional Japanese medicinal plants, designed for natural and sustainable cosmetics.
• Pine Ceram (パインセラ) Pineapple-derived ceramide-containing extracts available in emulsion and powder forms for both cosmetic and food applications, supporting skin barrier function.
• ActivBody RB (ア クティボ ディ RB) Rice bran fermented ingredient with functional food designation, featured in brain function, diet, and rice-derived specialty articles in health industry publications.
• Smart Lactic Acid Bacteria (スマート乳酸菌) Lactic acid bacteria (both live and heat-killed formats) marketed as a functional food ingredient, featured in diet and gut bacteria specialty articles.
• Black Ginger Extract (ブラックジンジャー抽出物) Thai medicinal plant (Clerodendrum phlomidis) extract with multiple functional food notifications in Japan for walking function maintenance, fat burning, and abdominal fat reduction.
• Pressure Enzyme-Decomposed Oyster Extract (圧力酵素分解カキ明 珠) Enzymatically decomposed oyster extract developed with Hiroshima Prefecture Food Industry Testing Center, highlighted in maintenance (preservation) technology specialty articles.
• Plantage (プランテージ) Multi-plant extract complex formulations including Moisture, White, White EX, and Linkle variants, combining botanical ingredients for various skin care benefits.
• Sancanon FRL (サンカノン FRL) Ferulic acid-based discoloration preventer derived from rice bran, combined with sodium ascorbate for preventing browning in vegetables, fruits, and seafood.
• Lotass Lift (ロータスリフト) Lotus germ extract-based anti-aging ingredient featured in 2026 research story on the product guide.
• HMPA (3-(4-hydroxy-3-methoxyphenyl)propionic acid) Novel compound derived from licorice demonstrating muscle atrophy suppression effects, researched in collaboration with Tokushima University and published in Biochemistry and Biophysics Reports (March 2026).

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Tokushima University, Department of Medical Nutrition, Division of Human Nutrition (徳島大学・医学部 医科栄養学科・生体栄養学分野)coreStrategic or Co-development Partner · 1 January 2025Academic collaboration with Prof. Ken Nikawa and Dr. Anayt Ulla of Tokushima University's Division of Human Nutrition on research into HMPA (3-(4-hydroxy-3-methoxyphenyl)propionic acid) for muscle atrophy inhibition. Joint research published in Biochemistry and Biophysics Reports (March 2026).
• Maruzen Trading (Shanghai) Co., Ltd. (丸善貿易（上海）有限公司)minorOthers · 1 April 2007Wholly-owned overseas subsidiary established in April 2007 in Shanghai, China. Serves dual function of selling Maruzen products in China and procuring raw materials from the Chinese market.
• Longjump Co., Ltd. (ロンジェブ株式会社)minorOthersRelated company (関連会社) of Maruzen Pharmaceuticals, listed alongside Maruzen Trading (Shanghai) as a corporate group member.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• T. Hasegawa Co., Ltd. Japanese flavor and fragrance manufacturer producing natural and synthetic flavors for food, beverage, and cosmetic applications. Highly comparable as a Japan-based B2B flavor/ingredient supplier with deep expertise in plant-derived compounds serving overlapping pharmaceutical, cosmetic, and food industry customers.
• Ogawa & Co., Ltd. Japanese manufacturer of flavors, fragrances, and aromatic chemicals with over 130 years of history. Comparable as a long-established Japanese B2B ingredient supplier serving food, cosmetic, and household product manufacturers with natural and synthetic compounds.
• Takasago International Corporation: Japanese flavor and fragrance producer with global operations supplying food, beverage, cosmetic, and pharmaceutical manufacturers. Comparable business model as a B2B ingredient supplier with strong R&D and international distribution footprint serving overlapping end markets.
• Indena S.p.A. Italian company specializing in botanical extracts for pharmaceutical, nutraceutical, and cosmetic applications. Highly comparable as a B2B producer of high-purity standardized plant-derived active ingredients serving the same pharmaceutical and cosmetic customer base.
• Döhler GmbH: German producer of natural ingredients, flavor compounds, and colorings for the food and beverage industry. Comparable as a B2B ingredient manufacturer with deep expertise in plant-derived compounds for food and beverage customers, though with stronger European beverage focus.
• Kalsec Inc. US-based producer of natural extracts, colors, flavors, and antioxidants for food and beverage manufacturers. Comparable as a B2B ingredient manufacturer specializing in plant-derived extracts (hops, paprika, rosemary) for industrial customers seeking natural ingredient alternatives.

Broad incumbents

• Symrise AG: Global German flavor and fragrance manufacturer with broad product portfolio across Taste, Nutrition, and Health segments. Comparable as a major B2B ingredient supplier serving food, beverage, and cosmetic customers, though at much larger scale and broader geographic footprint than Maruzen.
• Givaudan SA: Swiss global leader in flavors and fragrances with extensive product portfolio across food, beverage, and personal care categories. Comparable as a B2B ingredient manufacturer serving overlapping customer industries, though operating at significantly larger scale and with much broader product breadth.
• International Flavors & Fragrances (IFF): US-based global ingredient supplier producing flavors, fragrances, and nutritional ingredients (including botanical extracts via the former Naturex business). Comparable in serving the same B2B food, beverage, and cosmetic customers with natural ingredient solutions, though at substantially larger scale.

Emerging players

• Nippon Shinyaku Co., Ltd. Japanese pharmaceutical company with functional food ingredients business. Comparable as a Japan-based company working at the intersection of pharmaceuticals and functional food ingredients, though with greater emphasis on finished drug products rather than raw ingredient supply.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MARUZEN PHARMACEUTICALS