1813
Fudo Tetra Corporation
株式会社不動テトラ
Construction
Fudo Tetra Corporation engages in the civil engineering, ground improvement, and blocks and environment businesses in Japan. The company undertakes land-based civil engineering works related to roads, railways, dams, rivers, water and sewage, and energy facilities; and offshore civil engineering works for harbors, airports, fishing ports, shorelines, and man-made islands, as well as offers environmental solutions. It also provides ground improvement technologies for settlement reduction, stability increase, liquefaction mitigation, water cutoff walls, building foundations, and other applications. In addition, the company offers 3D, flat, stepped, and vertical wave-dissipating blocks; environmental landscaping products; sells aquatic environmental products, such as filter units and reef mats; and provides technical and design services using CAD to create plans and layout diagrams. Fudo Tetra Corporation was incorporated in 1947 and is headquartered in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
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Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥81.7B
¥69.6B
¥67.9B
¥70.5B
¥66.8B
Cost of Sales
¥65.7B
¥57.5B
¥57.1B
¥58.8B
¥55.8B
Gross Profit
¥16.0B
¥12.0B
¥10.8B
¥11.6B
¥11.0B
SG&A
¥10.1B
¥8.8B
¥8.2B
¥8.0B
¥7.7B
Operating Income
¥5.9B
¥3.2B
¥2.7B
¥3.6B
¥3.3B
Non-Operating Income
¥485M
¥449M
¥412M
¥120M
¥202M
Dividend Income
—
¥187M
¥146M
¥57M
¥39M
Interest Income
—
¥37M
¥38M
¥10M
¥5M
Non-Operating Expenses
—
¥260M
¥121M
¥263M
¥118M
Interest Expense
—
¥74M
¥70M
¥34M
¥23M
Ordinary Income
¥6.1B
¥3.4B
¥2.9B
¥3.5B
¥3.4B
Pre-tax Income
¥6.2B
¥3.3B
¥3.0B
¥3.5B
¥3.0B
Income Taxes
¥1.7B
¥1.1B
¥944M
¥1.3B
¥883M
Current Tax
—
¥1.3B
¥1.1B
¥1.4B
¥595M
Deferred Tax
—
¥-151M
¥-185M
¥-141M
¥287M
Net Income (owners)
¥4.5B
¥2.2B
¥2.0B
¥2.2B
¥2.1B
Minority Interest
—
¥8M
¥17M
¥35M
¥18M
Comprehensive Income
—
¥2.6B
¥2.3B
¥2.4B
¥2.1B
EBITDA
¥9.6B
¥5.5B
¥4.4B
¥5.3B
¥5.0B
Goodwill Amort. (J-GAAP)
—
¥77M
¥77M
¥77M
¥77M
EPS
¥294.62
¥145.26
¥131.99
¥142.34
¥135.12
Shares Outstanding
—
15.3M
15.3M
15.3M
15.3M
Shares Issued (total)
—
16.5M
16.5M
16.5M
16.5M
Treasury Shares
—
1.2M
1.2M
1.2M
1.2M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥71.2B
¥64.1B
¥55.2B
¥56.1B
¥51.9B
Current Assets
¥51.7B
¥43.7B
¥39.8B
¥42.9B
¥39.1B
Cash & Deposits
¥10.4B
¥10.4B
¥11.0B
¥9.8B
¥9.3B
Non-Current Assets
¥19.5B
¥20.5B
¥15.5B
¥13.3B
¥12.8B
PP&E
¥13.0B
¥15.0B
¥10.3B
¥8.5B
¥7.9B
Goodwill
—
¥39M
¥116M
¥193M
¥270M
Intangible Assets
—
¥607M
¥775M
¥947M
¥1.2B
Investment Securities
¥3.6B
¥3.1B
¥2.7B
¥2.3B
¥2.4B
Deferred Tax Assets
—
¥1.2B
¥1.1B
¥980M
¥855M
Total Liabilities
¥32.6B
¥29.5B
¥22.0B
¥24.3B
¥21.6B
Current Liabilities
¥30.4B
¥27.3B
¥20.4B
¥22.8B
¥20.0B
ST Debt
¥15.0B
¥10.5B
¥4.5B
¥5.5B
¥3.1B
Taxes Payable
—
¥785M
¥552M
¥1.1B
¥136M
Non-Current Liabilities
¥2.2B
¥2.2B
¥1.5B
¥1.5B
¥1.5B
Total LT Borrowings
¥450M
¥850M
¥50M
¥105M
¥125M
Pension Obligations
—
¥737M
¥791M
¥761M
¥727M
Total Equity
¥38.5B
¥34.7B
¥33.3B
¥31.8B
¥30.4B
Capital Stock
—
¥5.0B
¥5.0B
¥5.0B
¥5.0B
Capital Surplus
—
¥14.8B
¥14.8B
¥14.8B
¥14.8B
Retained Earnings
¥19.0B
¥15.4B
¥14.2B
¥13.1B
¥11.8B
Treasury Stock
—
¥-1.9B
¥-1.6B
¥-1.6B
¥-1.6B
AOCI
—
¥883M
¥530M
¥222M
¥12M
Equity (owners)
¥36.9B
¥33.3B
¥32.3B
¥31.2B
¥29.9B
Minority Interests
—
¥455M
¥447M
¥428M
¥394M
Total Interest-Bearing Debt ⓘ
¥15.4B
¥11.3B
¥4.6B
¥5.6B
¥3.2B
Net Cash ⓘ
¥-5.0B
¥-957M
¥6.4B
¥4.2B
¥6.0B
NCAV ⓘ
¥19.1B
¥14.2B
¥17.8B
¥18.6B
¥17.5B
NCAV/Share
—
¥928
¥1,163
¥1,215
¥1,146
BV/Share
—
¥2,179
¥2,110
¥2,039
¥1,957
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-2.3B
¥621M
¥7.1B
¥560M
¥-1.0B
Interest Paid
—
¥-65M
¥-71M
¥-32M
¥-23M
Interest Received
—
¥217M
¥162M
¥107M
¥41M
D&A
¥3.7B
¥2.2B
¥1.7B
¥1.6B
¥1.6B
Goodwill Amort.
—
¥77M
¥77M
¥77M
¥77M
Investing CF
¥-1.3B
¥-6.5B
¥-3.6B
¥-1.3B
¥-2.1B
Purchase Investments
—
¥-4M
¥-3M
¥-3M
¥-388M
Proceeds from Invest.
—
—
¥2M
¥7M
—
Financing CF
¥3.6B
¥5.3B
¥-2.3B
¥1.2B
¥502M
Dividends Paid
—
¥-914M
¥-913M
¥-914M
¥-930M
Share Buybacks
—
¥-239M
¥-2M
¥-2M
¥-504M
LT Debt Repaid
—
—
¥-70M
¥-20M
¥-20M
Free Cash Flow
¥-2.3B
¥621M
¥7.1B
¥560M
¥-1.0B
Net Change in Cash
—
¥-576M
¥1.2B
¥479M
¥-2.6B
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
12.2%
6.6%
6.3%
7.1%
7.0%
ROA
6.6%
3.7%
3.6%
4.0%
4.0%
EPS
¥294.62
¥145.26
¥131.99
¥142.34
¥135.12
DPS
¥0.00
¥60.00
¥60.00
¥60.00
¥60.00
BPS
¥2,513.46
¥2,262.99
¥2,156.15
¥2,064.46
¥1,968.89
FCF/Share
—
¥41
¥462
¥37
¥-68
NCAV/Share
—
¥928
¥1,163
¥1,215
¥1,146
Payout Ratio
0.0%
41.3%
45.5%
42.2%
44.4%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 20
Date Activist Stake Event Flag Demands Source
2026-02-26
Effissimo Capital Management Pte. Ltd.
27.28%
change
Passive
—
2025-04-10
Effissimo Capital Management Pte. Ltd.
27.28%
change
Passive
—
2025-02-20
Effissimo Capital Management Pte. Ltd.
27.28%
change
Passive
—
2024-09-27
Effissimo Capital Management Pte. Ltd.
27.28%
+0.09%
change
Passive
—
2024-08-14
Effissimo Capital Management Pte. Ltd.
27.19%
+1.07%
change
Passive
—
2024-07-08
Effissimo Capital Management Pte. Ltd.
26.12%
+1.18%
change
Passive
—
2024-06-17
Effissimo Capital Management Pte. Ltd.
24.94%
+1.13%
change
Passive
—
2024-06-07
Effissimo Capital Management Pte. Ltd.
23.81%
+1.22%
change
Passive
—
2024-05-29
Effissimo Capital Management Pte. Ltd.
22.59%
+1.21%
change
Passive
—
2024-05-20
Effissimo Capital Management Pte. Ltd.
21.38%
+1.19%
change
Passive
—
2024-05-09
Effissimo Capital Management Pte. Ltd.
20.19%
+1.06%
change
Passive
—
2024-04-25
Effissimo Capital Management Pte. Ltd.
19.13%
+1.09%
change
Passive
—
2024-04-16
Effissimo Capital Management Pte. Ltd.
18.04%
+1.11%
change
Passive
—
2024-01-25
Effissimo Capital Management Pte. Ltd.
16.93%
+1.0%
change
Passive
—
2023-11-30
Effissimo Capital Management Pte. Ltd.
15.93%
+0.13%
change
Passive
—
2023-11-29
Effissimo Capital Management Pte. Ltd.
15.8%
+0.36%
change
Passive
—
2023-11-27
Effissimo Capital Management Pte. Ltd.
15.44%
+1.1%
change
Passive
—
2023-10-03
Effissimo Capital Management Pte. Ltd.
14.34%
+0.49%
change
Passive
—
2023-08-14
Effissimo Capital Management Pte. Ltd.
13.85%
+1.0%
change
Passive
—
2023-06-21
Effissimo Capital Management Pte. Ltd.
12.85%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 6
#
Shareholder
Shares (thou.)
% of Total
1
GOLDMAN SACHS INTERNATIONAL (常任代理人 ゴールドマン・サックス証券株式会社)
3,717
24.29%
2
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
1,628
10.64%
3
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
717
4.69%
4
CGML PB CLIENT ACCOUNT/COLLATERAL (常任代理人 シティバンク、エヌ・エイ東京支店)
500
3.27%
5
Stock Ownership Plan
不動テトラ協力会社持株会
416
2.72%
6
NIPPON STEEL CORPORATION
日本製鉄株式会社
406
2.66%
7
Nittetsu Mining CO.,Ltd.
日鉄鉱業株式会社
341
2.23%
8
J.P. MORGAN SECURITIES PLC FOR AND ON BEHALF OF ITS CLIENTS JPMSP RE CLIENTASSETS-SEGR ACCT (常任代理人 シティバンク、エヌ・エイ東京支店)
290
1.89%
9
Employee Stock Ownership Plan
不動テトラ社員持株会
192
1.25%
10
今村 和生
190
1.24%
Domestic Nominees
15.3%
-1.5% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
39.5%
+8.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
GOLDMAN SACHS INTERNATIONAL
GOLDMAN SACHS INTERNATIONAL
7.67%
13.63%
24.29%
+10.66%
Japan Master Trust Bank
日本マスタートラスト信託銀行
10.82%
11.07%
10.64%
-0.43%
Japan Custody Bank
日本カストディ銀行
3.80%
5.77%
4.69%
-1.08%
CGML PB CLIENT ACCOUNT/COLLATERAL
NEW ENTRY
—
—
—
3.27%
NEW
Stock Ownership Plan
不動テトラ協力会社持株会
2.48%
2.70%
2.72%
+0.02%
NIPPON STEEL CORPORATION
日本製鉄
2.65%
2.66%
2.66%
Nittetsu Mining CO.,Ltd.
日鉄鉱業
2.23%
2.23%
2.23%
J.P. MORGAN SECURITIES PLC FOR AND ON BEHALF OF ITS CLIENTS JPMSP RE CLIENTASSETS-SEGR ACCT
NEW ENTRY
—
—
—
1.89%
NEW
Employee Stock Ownership Plan
不動テトラ社員持株会
1.28%
1.30%
1.25%
-0.05%
今村 和生
1.23%
1.23%
1.24%
+0.01%
ECM MF
ECM MF
last seen 2024
Exited Top 10
5.38%
5.38%
—
MSIP CLIENT SECURITIES
MSIP CLIENT SECURITIES
last seen 2024
Exited Top 10
2.83%
1.65%
—
Concentration (HHI)
ⓘ
249
396
762
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥1,010M
+59% since 2023
Holdings
6
Trend
Stable
vs 2023
Held Company
FY2025
¥1,010M total
FY2023
¥634M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Nittetsu Mining CO.,Ltd.
日鉄鉱業株式会社
399
60,600
217
60,600
M
株式会社三菱UFJ フィナンシャル・グループ
338
168,000
142
168,000
M
Keikyu Corporation
京浜急行電鉄株式会社
113
75,000
94
75,000
NIPPON STEEL CORPORATION
日本製鉄株式会社
75
23,432
73
23,432
M
Kintetsu Group Holdings Co.
近鉄グループホールディングス株式会社
50
15,700
67
15,700
Nagoya Railway Co.
名古屋鉄道株式会社
35
20,000
41
20,000
Portfolio total
1,010
634
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding