Who owns Daikyo Seiko, Ltd.

Daikyo Seiko, Ltd. - Profile

Daikyo Seiko, Ltd. makes elastomer and polymer containment components for injectable medicines from its base at Sano City in Tochigi Prefecture, Japan, where it runs four plants and employed 879 people as of January 2026. Its product range covers laminated rubber stoppers whose drug contact surface is coated in fluoropolymer film, the Daikyo Crystal Zenith cyclic olefin polymer resin used to mould CZ vials, syringes and cartridges as an alternative to glass, PLASCAP integrated plastic caps with stoppers, and compatible parts for glass syringes. The company started in 1954 in Tokyo as Kanegafuchi Gomu Kako Co., Ltd. making industrial rubber goods, commercialised butyl rubber for pharmaceutical use in 1964, developed its fluoropolymer laminated stoppers in 1982 and its cyclic olefin polymer containers around 1990, and took the Daikyo Seiko name in 1993. It has worked with West Pharmaceutical Services since 1973, and West distributes Daikyo products outside Japan.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• West Pharmaceutical Services, Inc.. This is a CURRENT, not stale, figure: the same 49% ownership interest is stated in West's Q2 2026 10-Q (period 30 Jun 2026, filed 23 Jul 2026), its FY2025 10-K (period 31 Dec 2025, filed 17 Feb 2026), and its FY2023 10-K (period 31 Dec 2023), all read directly in this task. The 49% level was reached on 1 Nov 2019: West's FY2019 10-K states 'On November 1, 2019, in connection with the amendment of certain commercial agreements with Daikyo, we increased our ownership interest from 25% to 49% in Daikyo in exchange for $85.1 million in cash and $4.9 million in shares of our treasury stock to certain stockholders of Daikyo.' Before that transaction West held the ~25% interest referenced in this task's brief; every filing found from FY2019 onward, including the most current ones, shows 49%, so 49% is reported here as the current figure rather than a stale one. value_usd is null because Daikyo's carrying value is not individually disaggregated in any filing found: West's Note 7 'Affiliated Companies' gives only a single combined 'Equity method affiliates' balance ($207.1 million at Q2 2026, $208.3 million at FY2025 end, $194.9 million at FY2024 end), covering Daikyo AND four Mexico-based 49%-owned affiliates together (see the separate Mexico affiliates row); per the brief's rule against assigning a combined balance to one investee, Daikyo is not individually sized. West maintains a $130.0 million notional cross-currency swap (JPY 17.0 billion, entered July 2024, terminating July 2027) explicitly designated as a hedge of its net investment in Daikyo (Q2 2026 10-Q), which is consistent with Daikyo being a material component of that combined equity-method balance, but does not itself size the equity stake. West's FY2025 10-K also separately discloses 'Equity in unrealized gains of Daikyo's investments & derivatives' of $3.0 million (2025), $2.4 million (2024) and $2.2 million (2023), an income-statement pickup, not a balance-sheet valuation of the stake. West recorded amortization expense of $0.9 million (H1 2026), $1.8 million (FY2025), $2.1 million (FY2024) and $2.1 million (FY2023) 'in association with an acquisition of increased ownership interest in Daikyo', i.e. an intangible asset recognized from the 2019 step-up, amortizing over time; this is a P&L item, not the equity-method carrying value. Combined equity method affiliates 'Equity in net income' was $6.1 million (Q2 2026 quarter) and $9.5 million (H1 2026), covering Daikyo plus the Mexico affiliates together, with West's MD&A attributing the year-over-year change primarily to 'favorable operating results at Daikyo, partially offset by unfavorable operating results at the Mexico affiliates' (Q2 2026 10-Q) and, for FY2025 versus FY2024, to 'less favorable operating results at Daikyo and the Mexico affiliates' (FY2025 10-K). sourcesource 2source 3source 4