Lion (4912.T): New product briefing: Focus on market growth in high-price oral care

Research evidence excerpt

Lion (4912.T): New product briefing: Focus on market growth in high-price oral care

Equity Research

9 July 2026 | 2:33PM JST

Lion (4912.T): New product briefing: Focus on market growth in

high-price oral care

Lion held a new product briefing on July 9. In oral healthcare, management aims to Takashi Miyazaki

+81(3)4587-9896 |

expand in the growing high-end market, and it is proposing a new habit (lifestyle takashi.miyazaki@gs.com

Goldman Sachs Japan Co., Ltd.

pattern) with a unique product: a pre-wash foam spray exclusively for dishwashers.

Megumi Taniguchi

We summarize the key takeaways below. +81(3)4587-9877 |

megumi.taniguchi@gs.com

Key takeaways (company comments unless otherwise noted)

n Overview: By changing its management structure from operating by functional

division to operating along the value chain (business unit system), the company is

also speeding up product development.

n Price hikes: The price hikes scheduled for October 1 are aimed at minimizing any

cooling sentiment in the market by implementing them during retailers’ shelf

reset periods. We note that the number of SKUs subject to price hikes (159)

accounts for c.30% of the total, but the targets are products in leadership

positions in their respective categories and products for which competitors are

also raising prices.

n Oral healthcare: Dent Health Medicated Toothpaste DX Multi-Function In, newly

launching this autumn, is a product that treats alveolar pyorrhea with a rich

formulation containing tranexamic acid, an anti-inflammatory ingredient.

Recently, the high-end toothpaste market (¥1,000 and above) has been

expanding at a double-digit +% pace yoy (accounting for under 10% of sales

volume), but Lion said it is growing at a faster pace than the market. The