Internal and external dissent has surfaced over Meiji HD's strategy of integrating its food and pharmaceutical businesses. A shareholder proposal calling for the establishment of a strategy review committee is expected to be discussed at the 2026 annual general meeting of shareholders, while the president is calling for integrated management.
Meiji Holdings Co.,Ltd., the parent company, is promoting the integration of its food and pharmaceutical businesses, but voices within the company have been spreading that it is unclear what this can achieve. Reports say that the French activist investment fund Longchamp SICAV is urging shareholders to submit a proposal at the 2026 annual general meeting calling for the establishment of a strategy review committee to consider options including separating the pharmaceutical business.
Food accounts for the larger share of the company's revenue, at ¥942.8 billion in the previous fiscal year, compared with ¥232.2 billion for pharmaceuticals. Profit was ¥68.7 billion in the food segment and ¥30.4 billion in pharmaceuticals, with profit margins differing at approximately 7% and 13%, respectively. Almost all of the company's former presidents came from the food business, and views are divided over the feasibility of integrating food and healthcare.